More super generous specials from US Bank

[ptatohed]

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@Anonymous wrote:

Spend (in my offer) $650, get an extra 0.2% up to $20!   So, just need to spend $10,650 and I get an extra $20.   And at least $6,650 would have to be 1 or 2% spend.

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So the 0.2% doesn't kick in until you spend the first $650??      And this is for one month's spend?  

[acreditdummy123]

the only thing US bank is good at is processing my charges really fast, which is not necessarily a good thing

[Gollum]

I had two different, consecutive USBank HELOCs (prime rate minus 1% for the second, which had a fifteen year draw period) from USBank for seventeen years or so, and I usually paid $160/month or so interest on the balance.

I spent the money mostly on medical care for my dogs to give them more "good time," and I don't regret doing so.

I thought it would be easy for me to roll the balance over to a new USBank HELOC, but in Spring 2021 I couldn't even get approval (despite my excellent FICO scores) for an appraisal, despite my land value alone (minus the house) being approximately four times the balance owed on the HELOC. The prospect of losing the draw period for my HELOC caused me to apply for (and receive) my NFCU Platinum credit card $25,000 limit, which seems like overkill now. I'm thinking about reducing that credit limit to $10,000.

At the end of my fifteen year draw period (June 2021), my USBank HELOC balance was $42,000. It was obvious to me that interest rates would be going up, and I was afraid. So my emphasis for almost two years has been on paying off my USBank HELOC balance.

After my most recent payment (March 01, 2023), my USBank HELOC balance is now a little less than $1000, 22 months after my fifteen year draw period ended. I expect to have my USBank HELOC paid off next month (I could have paid it off March 01, but I like to have a little in my savings account).

After seventeen years (in 2021), I was accustomed to having a low interest rate source of cash. I paid a lot of interest during those seventeen years, but now I am sort of accustomed to not having a HELOC. In fact, I feel like I dodged an interest rate barrage of monthly bullets.

I keep checking, but I never have any offers from USBank.

*shrug*

[coldfusion]

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@ptatohed wrote:

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@Anonymous wrote:

Spend (in my offer) $650, get an extra 0.2% up to $20!   So, just need to spend $10,650 and I get an extra $20.   And at least $6,650 would have to be 1 or 2% spend.

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So the 0.2% doesn't kick in until you spend the first $650??      And this is for one month's spend?  

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The additional bonus doesn't kick in until you spend the first $650 (or whatever amount your individual offer is) but it's across 2 months of spend - eligible purchases made from March 1 - April 30.

[privacyadvocate69]

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@Anonymous wrote:

Spend (in my offer) $650, get an extra 0.2% up to $20!   So, just need to spend $10,650 and I get an extra $20.   And at least $6,650 would have to be 1 or 2% spend.

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Doesn't seem very generous. There are much better offers out there.

[Anonymous]

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@privacyadvocate69 wrote:

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@Anonymous wrote:

Spend (in my offer) $650, get an extra 0.2% up to $20!   So, just need to spend $10,650 and I get an extra $20.   And at least $6,650 would have to be 1 or 2% spend.

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Doesn't seem very generous. There are much better offers out there.

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Really?  Hard to believe!

[Anonymous]

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@coldfusion wrote:

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@ptatohed wrote:

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@Anonymous wrote:

Spend (in my offer) $650, get an extra 0.2% up to $20!   So, just need to spend $10,650 and I get an extra $20.   And at least $6,650 would have to be 1 or 2% spend.

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So the 0.2% doesn't kick in until you spend the first $650??      And this is for one month's spend?  

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The additional bonus doesn't kick in until you spend the first $650 (or whatever amount your individual offer is) but it's across 2 months of spend - eligible purchases made from March 1 - April 30.

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Right, so potentially (if you haven't used any in Q1) you could get $4000 on 5% spend, but the rest would be on 1 or 2%. All in all, pretty horrible, but US Bank has been doing this type of offer for a long time so presumably it gets people using the card, not having done the math.

We even see excited posts here about "free $20" which is true, but for a strange meaning of free!

[privacyadvocate69]

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@Anonymous wrote:

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Doesn't seem very generous. There are much better offers out there.

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Really?  Hard to believe!

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I don't see why.  The offer in the OP is fairly stingy.

[Lou-natic]

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@privacyadvocate69 wrote:

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@Anonymous wrote:

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Doesn't seem very generous. There are much better offers out there.

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Really?  Hard to believe!

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I don't see why.  The offer in the OP is fairly stingy.

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--------------------------------sarcasm----------------------->

                                You are here.

Yes, we all realize this "offer" is horrible. It's an insult to any sane persons intelligence really.
 

[markhs777]

Personally the 0% checks for 12+ months is the only really generous offer USB makes.. Pay 3% and invest in an 4%+ CD while paying minimum and In full at the end of the offer and a few extra dollars for Christmas gifts.