topic Re: US Bank Cash+ in Credit Cards

US Bank Cash+

b1gr3dmachin3 — Thu, 12 Dec 2013 00:59:08 GMT

This card is on my radar as a potential new card for me in the future, but I heard they are starting to cap categories as well as eliminating some of the bonus categories or getting rid of this card altogether?? Is any of this true? If so, should I app for this card ASAP?

Re: US Bank Cash+

FinStar — Thu, 12 Dec 2013 01:01:12 GMT

The Cash+ has gone through some nerfing, yes. Where specifically or what source did you hear that it was going to be phased out? There hasn't been anything officially announced AFAIK.

Re: US Bank Cash+

Anonymous — Thu, 12 Dec 2013 01:01:30 GMT

They have done this previously, but I'm not aware of any new developments.

There are various threads on this forum that discuss the issue.

Re: US Bank Cash+

b1gr3dmachin3 — Thu, 12 Dec 2013 01:05:45 GMT

@FinStar wrote:
The Cash+ has gone through some nerfing, yes. Where specifically or what source did you hear that it was going to be phased out? There hasn't been anything officially announced AFAIK.

I've just been reading through posts on this forum (some old, some new) and I wanted to know exactly what was going on with this card. It seems like a really great card to have (especially to compliment my Freedom and IT cards)

Re: US Bank Cash+

Anonymous — Thu, 12 Dec 2013 01:10:42 GMT

@Anonymous wrote:
They have done this previously, but I'm not aware of any new developments.

There are various threads on this forum that discuss the issue.

Right, I think nerfing completes Dec 31st, unless they are doing more! What has happened:

1) Removal of certain categories that were heavily used: (bill pay, home improvement, airfare)

2) Reduction of $25 bonus per $100 redemption to once a year

3) $2000 per quarter cap on 5% categories for new users

4) No more bonus from banking relationships

5) Imposition of cap for existing users (Jan 1, 2014)

So it's been very heavily nerfed, but still has its pluses. Hopefully now it is profitable enough so they won't need to do more adjustments. But who knows!

Re: US Bank Cash+

Anonymous — Thu, 12 Dec 2013 01:18:26 GMT

Imposition of cap first of the year? That statement confuses me. Is this something where they will grandfather?

Re: US Bank Cash+

thecheese — Thu, 12 Dec 2013 01:43:01 GMT

I don't believe they're grandfathering anybody as I read existing customers have been notified of the changes. People were bound to take advantage of the uncapped 5% categories so it was only a matter of time for these kinds of adjustments (much like the Amex BCP caps). It might still be a good card for you depending on your spending habits.

Re: US Bank Cash+

Anonymous — Thu, 12 Dec 2013 01:54:12 GMT

@Anonymous wrote:
Imposition of cap first of the year? That statement confuses me. Is this something where they will grandfather?

New users were capped since I think June 2013. As of Jan 1, 2014 all users will be capped. So no grandfathering, they just continued it for existing users longer.

Re: US Bank Cash+

b1gr3dmachin3 — Thu, 12 Dec 2013 04:54:22 GMT

@Anonymous wrote:
@Anonymous wrote:
They have done this previously, but I'm not aware of any new developments.

There are various threads on this forum that discuss the issue.

Right, I think nerfing completes Dec 31st, unless they are doing more! What has happened:

1) Removal of certain categories that were heavily used: (bill pay, home improvement, airfare)
2) Reduction of $25 bonus per $100 redemption to once a year
3) $2000 per quarter cap on 5% categories for new users
4) No more bonus from banking relationships
5) Imposition of cap for existing users (Jan 1, 2014)

So it's been very heavily nerfed, but still has its pluses. Hopefully now it is profitable enough so they won't need to do more adjustments. But who knows!

Wow they really downgraded it, would it still be worth to get this card?

Re: US Bank Cash+

slippy84 — Thu, 12 Dec 2013 06:17:20 GMT

I just had to roll my eyes when I got the letter about the $2k cap for the 5% rewards categories. I can only hope that they bring back some of the good categories now that they have the cap... (I am dreaming of course, since I can sign up for 1st quarter 2014 categories and they're the same)

Re: US Bank Cash+

slippy84 — Thu, 12 Dec 2013 06:20:20 GMT

Well at this point it is still just as good as the other rotating cash back cards IMO, with the added flexibility of picking categories yourself. The part that remains to be seen is how they'll change it in the future, with the rapid pace of changes they've been going through

Re: US Bank Cash+

b1gr3dmachin3 — Thu, 12 Dec 2013 07:24:46 GMT

@slippy84 wrote:
Well at this point it is still just as good as the other rotating cash back cards IMO, with the added flexibility of picking categories yourself. The part that remains to be seen is how they'll change it in the future, with the rapid pace of changes they've been going through

Well hopefully that's all the negative changes they make lol cuz I'm thinking I might add this card to compliment my It and Freedom

Re: US Bank Cash+

FinStar — Thu, 12 Dec 2013 07:27:45 GMT

@b1gr3dmachin3 wrote:
@slippy84 wrote:
Well at this point it is still just as good as the other rotating cash back cards IMO, with the added flexibility of picking categories yourself. The part that remains to be seen is how they'll change it in the future, with the rapid pace of changes they've been going through
Well hopefully that's all the negative changes they make lol cuz I'm thinking I might add this card to compliment my It and Freedom

IMO, if it serves a fit with any reward gaps by all means consider it - it's not a bad card. I have it and it serves its purpose despite some nerfing and caps.

Re: US Bank Cash+

b1gr3dmachin3 — Thu, 12 Dec 2013 07:43:28 GMT

@FinStar wrote:
@b1gr3dmachin3 wrote:
@slippy84 wrote:
Well at this point it is still just as good as the other rotating cash back cards IMO, with the added flexibility of picking categories yourself. The part that remains to be seen is how they'll change it in the future, with the rapid pace of changes they've been going through
Well hopefully that's all the negative changes they make lol cuz I'm thinking I might add this card to compliment my It and Freedom
IMO, if it serves a fit with any reward gaps by all means consider it - it's not a bad card. I have it and it serves its purpose despite some nerfing and caps.

Ya, I was looking at their options and I think it could compliment by freedom and it card nicely especially since I could choose whichever two I want each quarter. Seems like a pretty good card to me, even after the nerfing.

Re: US Bank Cash+

Anonymous — Thu, 12 Dec 2013 15:38:57 GMT

@b1gr3dmachin3 wrote:
Wow they really downgraded it, would it still be worth to get this card?

It really depends, but I lean towards yes. Do you think you will be using the 5% categories? 5% year round on restaurants can be good for some (though I don't spend much at restaurants). If you get 5% on department stores, you can buy gas gift cards at some department stores to get 5% back on gas year round (in exchange for some hassle). Personally, I love the card - I just bought some furniture for a new house and was able to get 5% back on that, and my church allows automatic donation via credit card and is coded as a charity, so I get 5% back with that as well.

However, if you look at the 5% categories and see nothing you'll conceivably use, then no, it's probably not worth it (although for no annual fee, I say why not?)

Re: US Bank Cash+

Anonymous — Thu, 12 Dec 2013 15:49:52 GMT

Once a card has been nerfed, those that had it pre-nerf understandably tend to be somewhat negative. So I feel this way with the BCP, Cash Plus, and Citi Premier. The first two went from potentially unlimited cash back to $360 (with $75 AF) and $400 a year in their highest categories, so a real loss.

But history really shouldn't matter to new applicants except perhaps as a prediction for more nerfing, and that is hard (Is a heavily nerfed card like Cash Plus now more or less likely to be nerfed). So, as above, look at the features and see if a) they fit your needs, and b) it is among the best that you can reasonably expect to be approved for including things like sign-up bonus (Cash Plus falls down here).

(But sometimes nerfing REALLY makes a card practically valueless. No way is the Premier now worth $125 a year!)

Re: US Bank Cash+

Open123 — Thu, 12 Dec 2013 16:26:28 GMT

While I can empathize with the disappoint of those with this card pre-nerf (who came up with this term? LOL), in all fairness, 5% cashback in dining/electronics store for the first $10K in a year isn't too shabby.

Re: US Bank Cash+

Anonymous — Thu, 12 Dec 2013 16:58:03 GMT

@Open123 wrote:
While I can empathize with the disappoint of those with this card pre-nerf (who came up with this term? LOL), in all fairness, 5% cashback in dining/electronics store for the first $10K in a year isn't too shabby.

First 8K, but true anyway! "Pre-nerf" is registered intellectual property of LongTimeLurker Inc.

Re: US Bank Cash+

Open123 — Thu, 12 Dec 2013 17:07:26 GMT

@Anonymous wrote:
@Open123 wrote:
While I can empathize with the disappoint of those with this card pre-nerf (who came up with this term? LOL), in all fairness, 5% cashback in dining/electronics store for the first $10K in a year isn't too shabby.

First 8K, but true anyway! "Pre-nerf" is registered intellectual property of LongTimeLurker Inc.

LOL...what a term! Right, $8k! For some reasons, I always think in $10K increments.

Re: US Bank Cash+

Swapmeet — Thu, 12 Dec 2013 17:11:17 GMT

I wanted th cash + well before I had the credit file that would get me one. I watched it get nerfed right before my very eyes, and when the smoke cleared, I still wanted it--though maybe not as bad. So I put it on the back burner for a while. But now it has found its way back to the top of my priority list. So next month at this time, I think that I will accept this pre qualified offer for it. I am getting ready for an app spree in early Feb., but my pre-qualified offer for this card is up on Jan 9th.