cancel
Showing results for 
Search instead for 
Did you mean: 

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

flyingfico
Established Member

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

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.

Message 41 of 900
Anonymous
Not applicable

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


@flyingfico 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.


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. 

Message 42 of 900
longtimelurker
Mega Contributor

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


@flyingfico 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.


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!

Message 43 of 900
ChargedUp
Valued Contributor

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


@Slabenstein wrote:

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


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

AODFCU 3% Visa ($10K), Amex PRG (NPSL), Amex Blue Cash ($27K), Amex Simply Cash+ ($4K), Amex Business Cash ($22.5K), Discover ($29.7K), Cap 1 Union Plus MC ($2500), Chase FU Visa Sig ($12K), Chase F Visa Sig ($8.3K), Chase CSP Visa Sig($6.5K), FCB/Elan Rewards Visa Sig($15K), Buckle ($1.3K), BofA AAA Rewards ($84.5K), Paypal credit ($10K), BBVA Clearpoints ($7.5K), Cap 1 Savor ($13K), PenFed PCR ($3500), Bank of the West CB MC ($3K), PNC Cash Rewards ($14K), NASAFCU Rewards Visa ($20K), BOC/Elan Max Cash MC ($25K), BoA Business Customized Cash Rewards MC ($8k)
Message 44 of 900
Swolehas
New Contributor

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

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!

Message 45 of 900
flyingfico
Established Member

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


@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!

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.

Message 46 of 900
ToxikPH
Established Contributor

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


@Wavester64 wrote:

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

Sorry to hear about your denial Smiley Sad

 

Any DPs to share? 


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

Message 47 of 900
longtimelurker
Mega Contributor

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


@flyingfico wrote:

@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!

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.


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

Message 48 of 900
kdm31091
Super Contributor

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

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.

Message 49 of 900
Wavester64
Valued Contributor

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


@ToxikPH wrote:

@Wavester64 wrote:

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

Sorry to hear about your denial Smiley Sad

 

Any DPs to share? 


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


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.  Smiley Indifferent





Potential Future Cards
Message 50 of 900
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.