Future 
Chopping Block 
P2 Chopping Block 
@okurosetta wrote:
Yes, but there is the "time value" of inevitable!
Years ago, when the Fidelity 2% card switched from Amex to Visa, we "knew" that couldn't last because the interchange fees on Visa were too low to sustain 2%. Still waiting.
We all knew AOD/USAlliance etc couldn't sustain an uncapped 3%. Eventually we were right, but AOD lasted a long time and post-nerf still has value.
Similarly USBAR seemed to be unsustainable and now it is, but again,a good ride.
What stands out about the Smartly is how quickly it was nerfed.
I think it took Cash Plus a year and for BCP it got nerfed on your anniversary date, so some had almost an extra year of uncapped 6%
I disagree; CUs are not always better than money center banks. Yes banks have shareholders, but so do credit unions - their members. CUs are just as quick as big banks to cut bait on money losing products. I have experienced/seen multiple CU card nerfs - Abound, Affinity, AOD, US Alliance, VantageWest - even though half of those CU cards were not even available nationwide. Meanwhile CFF, Citi Dividend, BofA Preferred Rewards still going strong after 10yr+. At least banks offer other viable cards to PC into and keep the account history.
We all knew US Bank is conservative, right? That was why it was such a surprise that they and not Chase launched a nationwide 4% card. Much of the pre-launch speculation about this card was about when it gets nerfed, not if. Yes it is weak that they nerfed Smartly inside of six months but it happens when people min-max mispriced financial products to death.
@AndySoCal wrote:@TrapLine @Elan Financial services is owned by US Bank so they care included.. You see this in many publically owned companies their highest priority is the stockholders. The banks are first to cut the interest rates paid on deposit accounts and the last to raise rates in an effort to remain pseudo competitive. The reason banks shoot themselves in the foot is because it is the easiest target to hit. 😄 Give me a credit union over a bank any day.
@bs1234 wrote:
@Hansolojr wrote:I disagree; CUs are not always better than money center banks. Yes banks have shareholders, but so do credit unions - their members. CUs are just as quick as big banks to cut bait on money losing products. I have experienced/seen multiple CU card nerfs - Abound, Affinity, AOD, US Alliance, VantageWest - even though half of those CU cards were not even available nationwide. Meanwhile CFF, Citi Dividend, BofA Preferred Rewards still going strong after 10yr+. At least banks offer other viable cards to PC into and keep the account history.
We all knew US Bank is conservative, right? That was why it was such a surprise that they and not Chase launched a nationwide 4% card. Much of the pre-launch speculation about this card was about when it gets nerfed, not if. Yes it is weak that they nerfed Smartly inside of six months but it happens when people min-max mispriced financial products to death.
Yes, basically CUs and banks come in different sizes and quality. NFCU can offer different products and stability compares to Little Village Credit Union (now 10 members!) and there are good and bad banks.
And I would guess many of the more popular and valuable cards discussed here come from banks, including the "5% on top spend" cards where people happily have multiples.
Also locally, NC SECU, the 2nd largest CU in the country behind NFCU, only just started offering a 2% cash back card this year.
