Smartly V1 is changing on September 15th

[Kforce]

---

@G2244 wrote:

What we are seeing is the different ways that US Bank chooses to track/show awards. Also likely a distinction between unlimited cash back and capped points. To US Bank these are quite different. We have all been spoiled up until now on the Smartly as when the spend is uncapped, they nicely show each transaction as it posts along with relevant bonus. Enter the new world of capped rewards. Works just like this for my Cash+, you get a base posting for each transaction only, until statement closes. At statement close, you get a lump chunk of points representing what they think your relevant bonus is on that spend. The important change here for many will be the lack of any line item break out. On a specific transaction you may not really know if you got the bonus or not. Last year when USBAR was having all the issues I created spereadsheets to track all my USB spend. At least on my Cash+, over time, I became confortable things were mostly in order or at least enough to stop tracking everything. Luckily that card is only used to Internet/Phone and Utilities so I can pretty much check the 8 or so transactions each month if I need to.

Of course they may have added new flavors into the mix as well. Time will tell how it shows up regarding the bonus but just setting the stage now for everyone who continues on with them to not be able to track what seems like some pretty basic items.

---

I don't think that just giving the rewards and no line item idea of which fall in 4% or 2% is enough.

With more than 60  charges a month from that info it would be almost impossible to know if your rewards are correct and also not know which might better be moved to other cards.  If they show the pending correctly, it would be a snap to calculate extra over the 10k cap, and have good data as to MCC's to move to other cards, etc. 

Showing all as 2% then poof extra money does not show much.

No record of what they are calculating for the end customer.

Not a very good way to handle rewards based on MCC codes.

[bs1234]

---

@Kforce wrote:

---

@G2244 wrote:

What we are seeing is the different ways that US Bank chooses to track/show awards. Also likely a distinction between unlimited cash back and capped points. To US Bank these are quite different. We have all been spoiled up until now on the Smartly as when the spend is uncapped, they nicely show each transaction as it posts along with relevant bonus. Enter the new world of capped rewards. Works just like this for my Cash+, you get a base posting for each transaction only, until statement closes. At statement close, you get a lump chunk of points representing what they think your relevant bonus is on that spend. The important change here for many will be the lack of any line item break out. On a specific transaction you may not really know if you got the bonus or not. Last year when USBAR was having all the issues I created spereadsheets to track all my USB spend. At least on my Cash+, over time, I became confortable things were mostly in order or at least enough to stop tracking everything. Luckily that card is only used to Internet/Phone and Utilities so I can pretty much check the 8 or so transactions each month if I need to.

Of course they may have added new flavors into the mix as well. Time will tell how it shows up regarding the bonus but just setting the stage now for everyone who continues on with them to not be able to track what seems like some pretty basic items.

---

I don't think that just giving the rewards and no line item idea of which fall in 4% or 2% is enough.

With more than 60  charges a month from that info it would be almost impossible to know if your rewards are correct and also not know which might better be moved to other cards.  If they show the pending correctly, it would be a snap to calculate extra over the 10k cap, and have good data as to MCC's to move to other cards, etc. 

Showing all as 2% then poof extra money does not show much.

No record of what they are calculating for the end customer.

Not a very good way to handle rewards based on MCC codes.

---

Agreem but as @G2244 says, it's been like that for the the Cash+ for ages

[Kforce]

@G2244  thank you for the explanation.

Don't like it, but pretty sure you are correct.

@bs1234 and @G2244,  I think what/how they are showing the rewards and keeping users in the dark needs a little squeaky wheel noise.  I am going to make an appointment with a local branch, and make some noise "politely".  I can hear you laughing, but wish me luck.

No real reason that they should not show line item reward's as they post or as report at same time as statement post.  What they are showing currently is a complete wast of time.

Maybe they will apply some grease.  

Just not sure if it will be just to slide me out the front door.   

[ElvisCaprice]

I completely understand your plight on how US Bank reports these rewards, having the Custom Cash +.  I'm very disappointed in the very narrow scope of category captures by US Bank.  In comparison to BofA (the best) and Citi (very good), US Bank is poor.  I couldn't imagine trying to make sense of these narrow interpretations by US Bank on the new nerfed Smartly.  Going to require alot of data points with some kind of charting for maximum rewards, if the data can be had.  Which is precisely your beef.

[bs1234]

---

@Kforce wrote:

@G2244  thank you for the explanation.

Don't like it, but pretty sure you are correct.

@bs1234 and @G2244,  I think what/how they are showing the rewards and keeping users in the dark needs a little squeaky wheel noise.  I am going to make an appointment with a local branch, and make some noise "politely".  I can hear you laughing, but wish me luck.

No real reason that they should not show line item reward's as they post or as report at same time as statement post.  What they are showing currently is a complete wast of time.

Maybe they will apply some grease.  

Just not sure if it will be just to slide me out the front door.   

---

I definitely approve of your actions!   It will hopefully also let us know if there is a real problem, i.e. it shows 2% because that is exactly what we are getting.

[ptatohed]

I just looked.  Sept 15 was the last time it read "Earn rate 2% + 2% bonus".  Every purchase from the 16th, on, reads "Earn rate 2%".  This is lame!

It still has this at the top of the page:

Earn rewards

2% unlimited cash back

on every purchase

2% Smartly Earning Bonus

on your first $10,000 in eligible Net Purchases each billing cycle because you have a U.S. Bank Smartly® Savings account and combined balances of $100,000 or more (earning you a total of 4 points/$1 spent). These points will be added to the Rewards activity section at the end of your statement cycle. Refer to Program Rules for complete details and a list of exclusions.

[phantasm]

Panic started setting in when I reviewed my CB for the month. Came here and feel slightly better I'm not the only one in this boat. Does anyone else feel that they are making it so ridiculous that people choose to get off this meri-go-round? For transferring IRA back out, do they charge a zero balance fee or do I need to leave $1 as a "thank you" for playing their game? 

[EasyMark]

I just saw a reddit of someone whose statement just closed after the 15th and had one charge between the two (ideal test case), and it showed on the statement date it added the extra 2% (like the Cash+ bonuses are shown by US Bank), and it even cited the $10K cap in the bonus citation of extra points, so I think we're gonna be okay. I recollect that the magic liminal charge for that person was a Costco, where they got the extra 2% at statement close.

[bs1234]

---

@EasyMark wrote:

I just saw a reddit of someone whose statement just closed after the 15th and had one charge between the two (ideal test case), and it showed on the statement date it added the extra 2% (like the Cash+ bonuses are shown by US Bank), and it even cited the $10K cap in the bonus citation of extra points, so I think we're gonna be okay. I recollect that the magic liminal charge for that person was a Costco, where they got the extra 2% at statement close.

---

Anyone here whose statement has closed post Sep 15, with either good or bad news!   Still a way to go for me.

[G2244]

---

@bs1234 wrote:

---

@EasyMark wrote:

I just saw a reddit of someone whose statement just closed after the 15th and had one charge between the two (ideal test case), and it showed on the statement date it added the extra 2% (like the Cash+ bonuses are shown by US Bank), and it even cited the $10K cap in the bonus citation of extra points, so I think we're gonna be okay. I recollect that the magic liminal charge for that person was a Costco, where they got the extra 2% at statement close.

---

Anyone here whose statement has closed post Sep 15, with either good or bad news!   Still a way to go for me.

---

Thanks for the reminder. My statement posted today. I received the good nerf letter and all looks in order.
Here was my breakout. I had 2 purchses since 9/15 (working on my ATMOS minimum spend so an easy calulation). Transactions since 9/15 were $38.99 and $39.00 - so total of $77.99. The extra 2% showed up in the 3rd line item of "2 Extra Pt: Smartly Earn Bonus-10K cap" ($77.99 *.02 =$1.56 or 156 points). The 1438 on the second line was 2% extra back from what I had spent up to 9/15 so they separated that out too.

2 Points Earned On Net Purchases 1,594
2 Extra Points: Smartly Earning Bonus 1,438
2 Extra Pt: Smartly Earn Bonus-10K cap 156
Total Earned 3,188