cancel
Showing results for 
Search instead for 
Did you mean: 

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

kdm31091
Super Contributor

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

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.

Message 11 of 115
CreditMagic7
Super Contributor

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

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.

 

 

Message 12 of 115
takeshi74
Senior Contributor

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


@jaylau17 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. 


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.

Message 13 of 115
14Fiesta
Established Contributor

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


@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.


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.

 

 

 






EX FICO (AMEX): 728 (4/29/17) | TU FICO (Discover): 737 (4/7/17) | EQ FICO (Citi): 746 (3/28/17)
Message 14 of 115
core
Valued Contributor

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

This is just putting lipstick on a pig.

EQ08 BE: 776 | TU08: 812 | EX08: 797
Chase Ink [21.5k], Citi DC [20k], Alliant [15k], GICU [15k], QS1 [14.7k], Amex OBC [10k], Sportsman's Guide [9.4k], Blispay [7.5k], PenFed [6.5k], Chase Amazon [6.5k], Discover it [5.2k], Citi TYP [5.2k], Chase Freedom [5k], Fidelity Amex [5k], Consumers CU [5k], Wyndham [5k], Synch/Amazon [5k], Synch/Paypal [5k], Elan [4.5k], Ft.Knox [2.5k], BofA BBR [2k], Victoria's [1.7k], BofA 123 [500!]
Message 15 of 115
celluloid17
Established Contributor

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

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. 

Message 16 of 115
kdm31091
Super Contributor

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


@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. 


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.

Message 17 of 115
Royalbacon
Frequent Contributor

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

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

Chapter 7 Bankruptcy Filed-September 2020 Discharged-December 2020
Kohl's Credit Card $3000 Limit (Opened October 2016) Survived Bankruptcy for whatever reason
Capital One Venture One $3000 Limit (Opened December 2020)
Capital One Auto Loan (Opened March 2021)
Capital One Cabela's $5000 Limit (Opened December 2021)
America First Credit Union Visa $1000 Limit (Opened December 2021)
Message 18 of 115
satasat360
Regular Contributor

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


@core wrote:

This is just putting lipstick on a pig.


well said Smiley Very Happy


Starting Score: 669
Current Score: 777
Goal Score: 800


Take the myFICO Fitness Challenge
Message 19 of 115
JustBPatient
Established Contributor

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

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...

Amex Gold =Amex ED 20k = Amex BCP 14k = Amex SPG Lux 2k = Arrival 2k = Ring 14k = BOA 321 30k = BOA BBR 10k = CSR 25k = Freedom 10k = Citi Simplicity 9k = Citi DC 5k = Citi DP 3k = DCVR IT 16k = DCVR IT(2) 10k = CAP1 QS 15k = NFCU CR24k/AE25k/CLOC 15k = BBVA 14k = Wells Plat. 5k = (2) US Bank Cash+ 13k, 18k = PenFed 17k

FICO scores TU 764 EX 739 EQ 745
Message 20 of 115
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.