US Bank Cash + Changes and New Cards June 20th.

[kdm31091]

It's good news they're getting rid of the downsell, but with the releasing of new cards (especially the now common 1.5% one) I can't help but wonder if they plan to eventually make us Cash+ users switch to the 1.5% card. If so, I'll just be closing it.

As for sustainability, they've already removed many 5% categories and placed a cap, but my guess is that by introducing the "new" 1.5% card, they are going to slowly want to switch people to it, just like Chase wants to do with the Freedom Unlimited card (rumored that the 5% version will go away after 2016). 5% categories are a loss for banks so I think they are trying to wean people off of them.

[CreditMagic7]

Interesting development with US Bank on those changes and hopefully something positive for a change.

It's been a grueling effort on this end holding a US Bank card in my own lineup. And only recently as just last week they've shown signs that they are finally loosening up for me with a SP CLI (again) in short order from the previous one.

I expect a mailer preapproval anytime now if they are still true to form going off SP's.

[takeshi74]

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@Anonymous wrote:

I, as a current Cash+ cardholder, am a bit worried about this change though, because I wonder if the Cash+ will be able to sustain the choose-two-5%-category structure long-term if they are offering to everyone. 

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They've been able to sustain it with nerfing.  I'm sure they can keep 5% and just continue to make the categories less and less useful.

[14Fiesta]

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@Royalbacon wrote:

So what does this mean for those who already have the Cash Rewards card? I just recently got denied a CLI on my USBank Cash Rewards card. And is there a source? Can't find anything on the USBank website and nothing on google.

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I'm going off a vaguely worded memo, so I don't have all the details yet. But, I would think for those with existing Cash Rewards cards, once this switch comes, you should be able to PC to a Cash +. Or maybe they are just making it so the Cash Rewards structure is getting a buff to match that of the Cash +. Like I said, details are vague at this point lol.

[core]

This is just putting lipstick on a pig.

[celluloid17]

I would imagine they would allow Cash Rewards cardholders to PC into Cash + now given that they're eliminating a CL threshhold.  As for the Cash + itself, it's not really that exciting of a card anymore.  The 5% categories are too specific and thus somewhat limiting.  I like US Bank and I have a nice limit on my Cash +, but mine lives in a sock drawer and only gets my cell phone bill (which to me, is one of the last few decent 5% categories).  I wish they would spruce up the Cash + a bit and add some new categories or maybe raise the one 2% category to 3% or remove foreign transcation fees.  Something to make the card stand out again. 

[kdm31091]

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@celluloid17 wrote:

I would imagine they would allow Cash Rewards cardholders to PC into Cash + now given that they're eliminating a CL threshhold.  As for the Cash + itself, it's not really that exciting of a card anymore.  The 5% categories are too specific and thus somewhat limiting.  I like US Bank and I have a nice limit on my Cash +, but mine lives in a sock drawer and only gets my cell phone bill (which to me, is one of the last few decent 5% categories).  I wish they would spruce up the Cash + a bit and add some new categories or maybe raise the one 2% category to 3% or remove foreign transcation fees.  Something to make the card stand out again. 

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Yes unfortunately the card has become relatively niche. I still use it for 5% on fast food, but I find that just encourages me to be eating more fast food than I should, so while it's a nice benefit, it isn't the be all end all (plus it's not like fast food is that expensive anyway, so the rewards aren't huge). The 2% categories are basically irrelevant, and most of the 5% are things I don't buy/use very often. Cell phone is one of the few things that is useful to a majority I'd think.

Would be nice to see them add some broader categories for 5% but like I said upthread I think if anything we'd see the card go away vs them enhancing it. But I hope I am wrong.

[Royalbacon]

http://millionmilesecrets.com/2016/06/07/rumor-new-us-bank-cards-coming-sign-up-bonus-worth-up-to-60...

[satasat360]

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@core wrote:

This is just putting lipstick on a pig.

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well said

[JustBPatient]

I think there are a couple of things going on here.  First, makes it easier for them to decline you for Cash+.  Second I think moving forward you are going to see most Banks/CU's have some sort of 1.5% kickback card.  This seems to be the sweetspot for them.  QS, CashForward etc...