Cash + Holders, let's fight for our rewards!

[bs6054]

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@clocktick wrote:

I just bill pay on the site.  When are they removing?  That's one of the ones I would've chosen too.

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People have signed up for this quarter, so I would it to go away at the end of March.  Someone was told that changes come Feb 15, so maybe new users after that date won't be able to sign up for bill pay etc either.

[bs6054]

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@flowfaster wrote:

Well you could make this a pure restaurant card.  I wonder if Amazon will count as a bookstore?

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I will use Forward for that, making sure I use one of the 1:1 redemption options!  For now, Forward is uncapped, although I probably am not spending $2K a quarter on this.

[Open123]

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pkosheta wrote:If you are a cronic 5% user, they are glad your mad and hope you cancel as you are costing them money.  They see people using the card point the .o1 and getting a .oo25 bonus as their target audience.

i still like the card, will continue using the card, I won't be putting nearly as much on it...

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Right, if they could without negative PR, all issuers would systemically close the accounts of all "cronic" 5% category users, since the issuers will lose money and continue doing so.  

Chase will close the accounts of those who overly abuse their 5% office category, which is meant to allure new customers who will also spend on the non rewards categories.  They lose money when the card is only used for the 5% office category.  

This is still an excellent card.

[android01]

If I were USbank, I would have simply started charging an annual fee, and left the current categories and caps.  It's one of the few AF cards that actually has the kind of reward structure that I would pay for.  It's still a good card though, and I'll keep it.    

[CruzImperial]

I would pay AF for a Cash + but no bill pay rewards is really keeping me at the edge now.

[bs6054]

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@android01 wrote:

If I were USbank, I would have simply started charging an annual fee, and left the current categories and caps.  It's one of the few AF cards that actually has the kind of reward structure that I would pay for.  It's still a good card though, and I'll keep it.    

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What current caps?  The $2K or unlimited?   If they kept unlimited, the "abusers" could easily outstrip any AF, and if the AF was large, many people wouldn't bother.

[android01]

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@bs6054 wrote:

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@android01 wrote:

If I were USbank, I would have simply started charging an annual fee, and left the current categories and caps.  It's one of the few AF cards that actually has the kind of reward structure that I would pay for.  It's still a good card though, and I'll keep it.    

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What current caps?  The $2K or unlimited?   If they kept unlimited, the "abusers" could easily outstrip any AF, and if the AF was large, many people wouldn't bother.

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I was thinking unlimited, but you make a good point.  Still, don't forget they make money on swipe fees and interest for those who carry balances.   I'd still pay a reasonable AF for the 2K quarterly caps as long as they kept the bill pay category.

[Open123]

The only effective measure to somewhat mitigate the spillover effect benefiting a minority of abusers is if US Bank were to implement protocols to systematically unearth these "abusers" and close their accounts.

[FutureBillionaire]

They overreacted.  Who cares if you can choose your categories if most of them suck?  Put on caps and an annual fee and keep the same categories.  I'm still happy.  They can absolutely do what the want. But, I think it is ridiculous to take their side when you consider that they:

1. Give us terrible interest rates on savings and other products

2. Charge us fees to hold our money

3.  Charge ridiculous rates for loan products.

Credit cards are the one area that the bank and the customer can win.  At least let us have that.

[bs6054]

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@FutureBillionaire wrote:

They overreacted.  Who cares if you can choose your categories if most of them suck?  Put on caps and an annual fee and keep the same categories.  I'm still happy.  They can absolutely do what the want. But, I think it is ridiculous to take their side when you consider that they:

1. Give us terrible interest rates on savings and other products

2. Charge us fees to hold our money

3.  Charge ridiculous rates for loan products.

Credit cards are the one area that the bank and the customer can win.  At least let us have that.

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We (at least I) don't know the financials they are experiencing with this card, so we don't know that "both can win".   Again I suspect the issue with the removed categories is that it is much easier to reach any cap using those (as compared to say water parks etc offered by other cards).   So if enough users were using the card almost exclusively for say bill pay, even capping at $2000 per quarter, the bank is losing money on every purchase.   If you add an AF, or lower the cap, you reduce risk but probably the type of users you want (who do 1% spend as well) don't sign up because the competition doesn't have an AF, or has higher caps, etc.

Cash back, as remarked elsewhere, has its special problems for issuers, and there really might not be a good solution.   But saying that they should have done something, without knowledge of their actual financial drivers, seems pointless and won't make US Bank listen to your demands (well, they won't anyway)