New US Bank Shoppers Rewards Card

Curious_George2 · ‎10-13-2022

@ptatohed wrote:
I'm gonna go out on a limb and predict no AF. I'm guessing that perhaps it's a partnership with the retailers so the full 6% isn't coming out of USB's pocket. Plus, with the 1.5% instead of 1%, it is possible this can become an everyday card for many. We'll see.....

This matches my assumptions. Admittedly, it's also what I *want* to be true, so...

I've seen two people on Reddit who claim inside knowledge that there will be a $95 AF. One asserted, without explaining how they know, that it will be that amount but waived the first year. The other claimed a friend works at US Bank and said the AF will be announced on Monday. Who knows how reliable any of that is.

Speculation + wishful thinking + sketchy Reddit reports = we have no idea!

For me, the AF is the make-or-break issue with this card as currently understood. I'm not willing to commit to paying $95/yr premised on the hope that I will consistently spend enough with the specified retailers to comfortably recoup that amount.

ptatohed · ‎10-13-2022

@Curious_George2 wrote:
@ptatohed wrote:
I'm gonna go out on a limb and predict no AF. I'm guessing that perhaps it's a partnership with the retailers so the full 6% isn't coming out of USB's pocket. Plus, with the 1.5% instead of 1%, it is possible this can become an everyday card for many. We'll see.....
This matches my assumptions. Admittedly, it's also what I *want* to be true, so...

I've seen two people on Reddit who claim inside knowledge that there will be a $95 AF. One asserted, without explaining how they know, that it will be that amount but waived the first year. The other claimed a friend works at US Bank and said the AF will be announced on Monday. Who knows how reliable any of that is.

Speculation + wishful thinking + sketchy Reddit reports = we have no idea!

For me, the AF is the make-or-break issue with this card as currently understood. I'm not willing to commit to paying $95/yr premised on the hope that I will consistently spend enough with the specified retailers to comfortably recoup that amount.

I hear you. I would say this card only has value at $0 AF. Even if you maxed out the 6% benefit per year at $6,000 spend, you'd get $360 CB. Minus $95 equals $265. Divide by $6,000 equals 4.42% CB. Not bad, but not 6%. And other cards can provide 5% CB at many of the retailers. So, it needs to be $0 AF.

Everyday 5% CB:
Chase prime Visa // citi CUSTOM CASH “A” // citi CUSTOM CASH “B” // citi CUSTOM CASH “C” // citi ThankYou (5% gas, lucrative spending offers) // mylowe’s Rewards // Target circle card

Rotating 5% CB:
Chase “OG” freedom Visa // DISCOVER it Cash Back // nusenda CU Platinum Cash Rewards

Everyday 4% CB:
US Bank Smartly (v1.0)

Everyday 3% / 2.2% CB:
AOD FCU Visa Signature (3%, sockdrawered) // upgrade Cash Rewards Elite (2.2%, sockdrawered)

Welcome Offer / credits only:
NFCU FLAGSHIP REWARDS (elevated Welcome Offer, annual prime credit, sockdrawered)

Hotel card:
Chase IHG ONE REWARDS PREMIER (elevated Welcome Offer, 1 free night/yr)

On my radar:
Langely FCU Signature Cash Back (5% CB monthly selectable cat) // Safe CU Cash Back+ (Quarterly rotating 5% CB cats plus bonus cats) // upgrade MyFive Cash Rewards (5% CB monthly selectable cat) // US Bank Kroger (and family) World Elite Master Card(s) (5% CB Mobile Wallet)

dssgaffler · ‎10-13-2022

Called, verified - $95 AF waived first year. SUB $250 for $2k spend in first 120 days.

Curious_George2 · ‎10-13-2022

@dssgaffler wrote:
Called, verified - $95 AF waived first year. SUB $250 for $2k spend in first 120 days.

Wait, you asked them? Where's the sport in that?!

I'm kidding of course. Thanks for getting to the bottom of this important question, and for sharing what you learned! The AF makes the card a no-go for me, for the reasons @ptatohed laid out.

CYBERSAM · ‎10-13-2022

@Curious_George2 wrote:
@dssgaffler wrote:
Called, verified - $95 AF waived first year. SUB $250 for $2k spend in first 120 days.
Wait, you asked them? Where's the sport in that?!

I'm kidding of course. Thanks for getting to the bottom of this important question, and for sharing what you learned! The AF makes the card a no-go for me, for the reasons @ptatohed laid out.

That just took the air out of this one!

Anonymous · ‎10-13-2022

is this better than CFU? CFU has no AF(plus grocery 5% for the 1st year)...if it has it I would rather have Cash +

P.S. Good for Amazon, Target and Walmart loyalists but if it has AF, is it better than Chase Amazon, C1 Walmart and Target Red MC

unsungivy · ‎10-13-2022

@dssgaffler wrote:
Called, verified - $95 AF waived first year. SUB $250 for $2k spend in first 120 days.

Ha, I knew it. 6% with NO AF was just too good... weird people kept thinking they wouldn't do that on "only" $1500 a quarter, since, as I stated, that's the same as the 6k a year on the BCP for the same AF.

Now the question becomes... what is US Bank's stance on waiving AFs for Active Duty Military?