New US Bank Smartly Visa - up to 4% Cash Back

[ptatohed]

I'm really, really considering this card.  I don't mind going first.  I just need to know there is a way to earn the same or more than the current-day best MMA/HYSA APYs (at this current time, I'll call that 5%), otherwise the loss in investment earnings from the $100k could heavily eat into the increased CC CB earnings.  I can't say I like the $50/yr advisory fee but I can tolerate it as it would be covered after the first $2500 yearly spend, compared to a 2% card (which we'd hit in month 1).  I'm assuming the 4% CB is uncapped, I'm assuming no AF on this card, and I am not assuming there will be an Intro Bonus (but won't say no to one, if available).  I have no 'relationship' with USB but that does not deter me in the slightest.  Yes, this could get nerfed but, for me, that's not a reason to avoid it.  If anything, it's reason to hop on early and ride the wave as long as it exists.     

[ElvisCaprice]

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@ptatohed wrote:

I'm really, really considering this card.  I don't mind going first.  I just need to know there is a way to earn the same or more than the current-day best MMA/HYSA APYs (at this current time, I'll call that 5%), otherwise the loss in investment earnings from the $100k could heavily eat into the increased CC CB earnings.  I can't say I like the $50/yr advisory fee but I can tolerate it as it would be covered after the first $2500 yearly spend, compared to a 2% card (which we'd hit in month 1).  I'm assuming the 4% CB is uncapped, I'm assuming no AF on this card, and I am not assuming there will be an Intro Bonus (but won't say no to one, if available).  I have no 'relationship' with USB but that does not deter me in the slightest.  Yes, this could get nerfed but, for me, that's not a reason to avoid it.  If anything, it's reason to hop on early and ride the wave as long as it exists.     

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Wouldn't you be better served with BofA Platinum Honors?  BofA has far more accelerated rewards cards opposed to only one for US Bank.  US Bank doesn't allow for debit card payments whereas Bank of America does.  Have to account for that.  

It's still too early and not even yet available, this US Bank option.  Let's see the final details first.  

[ElvisCaprice]

nevermind, found it

[ptatohed]

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@ElvisCaprice wrote:

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@ptatohed wrote:

I'm really, really considering this card.  I don't mind going first.  I just need to know there is a way to earn the same or more than the current-day best MMA/HYSA APYs (at this current time, I'll call that 5%), otherwise the loss in investment earnings from the $100k could heavily eat into the increased CC CB earnings.  I can't say I like the $50/yr advisory fee but I can tolerate it as it would be covered after the first $2500 yearly spend, compared to a 2% card (which we'd hit in month 1).  I'm assuming the 4% CB is uncapped, I'm assuming no AF on this card, and I am not assuming there will be an Intro Bonus (but won't say no to one, if available).  I have no 'relationship' with USB but that does not deter me in the slightest.  Yes, this could get nerfed but, for me, that's not a reason to avoid it.  If anything, it's reason to hop on early and ride the wave as long as it exists.     

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Wouldn't you be better served with BofA Platinum Honors?  BofA has far more accelerated rewards cards opposed to only one for US Bank.  US Bank doesn't allow for debit card payments whereas Bank of America does.  Have to account for that.  

It's still too early and not even yet available, this US Bank option.  Let's see the final details first.  

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2.625% uncapped everything vs 4.0% uncapped everything?  USB is nearly a whole "Quicksilver" more than BoA.     

Agree, we need to find out the full details.  I am on the wait list.   

[ElvisCaprice]

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@ptatohed wrote:

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@ElvisCaprice wrote:

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@ptatohed wrote:

I'm really, really considering this card.  I don't mind going first.  I just need to know there is a way to earn the same or more than the current-day best MMA/HYSA APYs (at this current time, I'll call that 5%), otherwise the loss in investment earnings from the $100k could heavily eat into the increased CC CB earnings.  I can't say I like the $50/yr advisory fee but I can tolerate it as it would be covered after the first $2500 yearly spend, compared to a 2% card (which we'd hit in month 1).  I'm assuming the 4% CB is uncapped, I'm assuming no AF on this card, and I am not assuming there will be an Intro Bonus (but won't say no to one, if available).  I have no 'relationship' with USB but that does not deter me in the slightest.  Yes, this could get nerfed but, for me, that's not a reason to avoid it.  If anything, it's reason to hop on early and ride the wave as long as it exists.     

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Wouldn't you be better served with BofA Platinum Honors?  BofA has far more accelerated rewards cards opposed to only one for US Bank.  US Bank doesn't allow for debit card payments whereas Bank of America does.  Have to account for that.  

It's still too early and not even yet available, this US Bank option.  Let's see the final details first.  

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2.625% uncapped everything vs 4.0% uncapped everything?  USB is nearly a whole "Quicksilver" more than BoA.     

Agree, we need to find out the full details.  I am on the wait list.   

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Add 1% for all BofA payments via Paypal bill.  Makes it much closer in comparison.

[TrapLine]

Aim High

Great real world write up!

Appreciate getting an indepth look at Bank of America's program and the US Bank's. Forgot about the US Bank Altitude Reserve and how that may be an adder.

Many years back I was in the Bank of America Family and had one card at $50,000 and a college card at $7,500. Some where I closed them and moved on. Can not remember more.

Yes, the geo-fence/foot print seems to crop up around here. Confess I am in there area so availability before looking at recent CB hits which could be my eliminator!

[longtimelurker]

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@ElvisCaprice wrote:

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Add 1% for all BofA payments via Paypal bill.  Makes it much closer in comparison.

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I would consider this very fragile.   But while it lasts....

[ElvisCaprice]

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@longtimelurker wrote:

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@ElvisCaprice wrote:

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Add 1% for all BofA payments via Paypal bill.  Makes it much closer in comparison.

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I would consider this very fragile.   But while it lasts....

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And Bank of America could easily up the ante in reply to US Bank competition.  It's all fragile/moving target.

[longtimelurker]

While we await full details it does seem attractive, I could move some IRA money from Fidelity to meet the 100/250K whatever it turns out to be.

Then the question is whether I would still need the Altitude Reserve.   The extra .5% when redeemed for travel wouldn't be all the compelling.

And then Discover/Dividend/Freedom Flex/OG Freedom would also have marginal value

[longtimelurker]

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@ElvisCaprice wrote:

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@longtimelurker wrote:

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@ElvisCaprice wrote:

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Add 1% for all BofA payments via Paypal bill.  Makes it much closer in comparison.

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I would consider this very fragile.   But while it lasts....

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And Bank of America could easily up the ante in reply to US Bank competition.  It's all fragile/moving target.

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Sure, but Paypal Billing, which is not part of any USBank/BoA battle, has a history of removing billers in big batches.  Which doesn't mean that this won't stay