Elan "Max Cash" -vs- US Bank Cash+

[Anonymous]

There's one important difference.  I had a USB Cash+ card, and I didn't read the fine print - the cash back expires after 3 years, so I lost some earnings at one point.  (I was saving for a big purchase, oops.) However, when I looked at one of the partner banks chosen at random, there was a note that "Max Cash Preferred Card: ... Cash rewards do not expire as long as the account remains active. If there is no reward, purchase, or balance activity on your account for 12 statement cycles, your cash rewards balance will expire."

So this seems to be a better product than the Cash+ in at least one minor attribute.

[Anonymous]

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@Anonymous wrote:

There's one important difference.  I had a USB Cash+ card, and I didn't read the fine print - the cash back expires after 3 years, so I lost some earnings at one point.  (I was saving for a big purchase, oops.) However, when I looked at one of the partner banks chosen at random, there was a note that "Max Cash Preferred Card: ... Cash rewards do not expire as long as the account remains active. If there is no reward, purchase, or balance activity on your account for 12 statement cycles, your cash rewards balance will expire."

So this seems to be a better product than the Cash+ in at least one minor attribute.

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It actually looks like it might be better with the two additional categories too. Makes me wonder if US Bank is adding those to Cash+ next year. 

[longtimelurker]

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@Anonymous wrote:

There's one important difference.  I had a USB Cash+ card, and I didn't read the fine print - the cash back expires after 3 years, so I lost some earnings at one point.  (I was saving for a big purchase, oops.) However, when I looked at one of the partner banks chosen at random, there was a note that "Max Cash Preferred Card: ... Cash rewards do not expire as long as the account remains active. If there is no reward, purchase, or balance activity on your account for 12 statement cycles, your cash rewards balance will expire."

So this seems to be a better product than the Cash+ in at least one minor attribute.

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I think which is better is a matter of personal preference!   With the Cash+ you have to wait 3 yeats before you lose rewards, with the Max Cash, it could be as short as 12 months.   Sure, you probably will make a purchase more than once every 12 months, but most would also redeem rewards (as there is no min for account credit) within 3 years too!

[ChargedUp]

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@Slabenstein wrote:

Do Elan cards show up on your reports as a tradeline with Elan or a tradeline with the particular associated FI?

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They report as "ELAN FINANCIAL SVCS", and are treated like any other major credit card.

[Anonymous]

Wow! What an amazing post. Take all my kudos OP, ALL of them.

I had basically written off the Cash + for at least a few years, as I want many other cards in the mean time. But this brings it back into fair play. This is awesome news!

[Anonymous]

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@longtimelurker wrote:
I think which is better is a matter of personal preference!   With the Cash+ you have to wait 3 yeats before you lose rewards, with the Max Cash, it could be as short as 12 months.   Sure, you probably will make a purchase more than once every 12 months, but most would also redeem rewards (as there is no min for account credit) within 3 years too!

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True - but the way around this is to have recurring bills as one of your 5% categories.  Have the first Max Cash card do 5% on cell phone and a non-recurring category, the second card do 5% on Internet and a non-recurring category, and you're all set with monthly activity on autopilot and rewards that don't expire.  Whereas if you did the same with a Cash+ you'd have to make sure to redeem before expiration.  I find the fine print expiring rewards of the Cash+ to be quite frustrating, especially since I lost out on $40 of rewards by inattention to that detail.

[ToxikPH]

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@Wavester64 wrote:

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@ToxikPH wrote:
Got denied for this card this morning from Ent. Got too itchy I guess.

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Sorry to hear about your denial 

Any DPs to share? 

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Looks like they pulled experian; 7 inq before this app. 8/12 and 2/6 on new accounts. 2% usage.

[longtimelurker]

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@Anonymous wrote:

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@longtimelurker wrote:
I think which is better is a matter of personal preference!   With the Cash+ you have to wait 3 yeats before you lose rewards, with the Max Cash, it could be as short as 12 months.   Sure, you probably will make a purchase more than once every 12 months, but most would also redeem rewards (as there is no min for account credit) within 3 years too!

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True - but the way around this is to have recurring bills as one of your 5% categories.  Have the first Max Cash card do 5% on cell phone and a non-recurring category, the second card do 5% on Internet and a non-recurring category, and you're all set with monthly activity on autopilot and rewards that don't expire.  Whereas if you did the same with a Cash+ you'd have to make sure to redeem before expiration.  I find the fine print expiring rewards of the Cash+ to be quite frustrating, especially since I lost out on $40 of rewards by inattention to that detail.

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But again this is all subjective.  I would personally find it easier to remember to redeem before three years expired!

[kdm31091]

Since there's no redemption threshold on the Cash+ there is really no reason to let the rewards expire anyway. I get wanting to save them up, but, in the end, you are getting the same amount of rewards regardless. May as well just redeem monthly. It's unlikely most are redeeming enough that it's even a blip in your monthly budget. Redeem your $10 statement credit, and put $10 in your savings account, or however you choose -- but no reason to let it expire.

[Wavester64]

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@ToxikPH wrote:

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@Wavester64 wrote:

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@ToxikPH wrote:
Got denied for this card this morning from Ent. Got too itchy I guess.

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Sorry to hear about your denial 

Any DPs to share? 

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Looks like they pulled experian; 7 inq before this app. 8/12 and 2/6 on new accounts. 2% usage.

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Thanks for the DPs!

Looks like I have similar #s as you, not as good as you:

(8 INQs on EX (4 scoreable) 10/12 and 5/6 on New Accounts, 3% UTIL.)

So for me, no need to even try - it will turn out to be No soup for me for sure.