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US Bank Cash+ bonus cash back offer

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Regular Contributor

US Bank Cash+ bonus cash back offer

Anyone else get this offer?
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Message 1 of 24
23 REPLIES 23
Moderator

Re: US Bank Cash+ bonus cash back offer

I did not get that one.  It's a little deceptive though since the 20% more cash back only applies to the first $100 after spending $900.  Certainly a nice help if you are spending $1000 on 5% categories.  But replacing any non-bonus-category spend earning more than 2.9% or over $1000 would mean less in earned rewards.


Message 2 of 24
Regular Contributor

Re: US Bank Cash+ bonus cash back offer


@K-in-Boston wrote:

I did not get that one.  It's a little deceptive though since the 20% more cash back only applies to the first $100 after spending $900.  Certainly a nice help if you are spending $1000 on 5% categories.  But replacing any non-bonus-category spend earning more than 2.9% or over $1000 would mean less in earned rewards.


Agreed... it works for me since I'll easily spend $1000 in 5% categories (cellular service and utilities for a family of 6).

Message 3 of 24
Mega Contributor

Re: US Bank Cash+ bonus cash back offer

We had a discussion about this earlier (although I think that was a slightly worse offer).    I am reading the extra 20% as an extra 20% of the cashback, so that 5% becomes 6%.   Then the ideal way to get the extra $20 would be to spend the entire allowed per quarter $2000 on 5% categories.   So the initial $900 would have to spend in the 1 or 2% categories, and you are quite likely to have cards earning more than that in those categories.

Message 4 of 24
Super Contributor

Re: US Bank Cash+ bonus cash back offer

The banks are really getting wiser to people spreading out purchases on many cards it seems. In prior years I don't remember these offers having a minimum spend threshold, although they may have. It seems US Bank wants you to spend several hundred dollars on 1-2% categories and not just using it for the 5%.

Message 5 of 24
Super Contributor

Re: US Bank Cash+ bonus cash back offer

I got the offer. The actual benefit is microscopic. It is made available only after spending a base amount, in my case $1,150 during the offer period. 

Now for the math. Pay attention please. 

The added bonus is 0.2%. This is the dollar amount, times 0.002. For each TEN dollars you spend, you get an additional two cents.  

In order to get the full $20 bonus, you must spend... wait for it... $10,000 beyond the threshold.  

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 6 of 24
Established Contributor

Re: US Bank Cash+ bonus cash back offer

Yeah I got that offer and I also got a $20 offer if I add an AU. But, yeah like I spend $200 a month on gas using the 5% and every $100 is $5, so I just get 20 cents more, it's better than nothing tho.
Message 7 of 24
Mega Contributor

Re: US Bank Cash+ bonus cash back offer


@NRB525 wrote:

I got the offer. The actual benefit is microscopic. It is made available only after spending a base amount, in my case $1,150 during the offer period. 

Now for the math. Pay attention please. 

The added bonus is 0.2%. This is the dollar amount, times 0.002. For each TEN dollars you spend, you get an additional two cents.  

In order to get the full $20 bonus, you must spend... wait for it... $10,000 beyond the threshold.  


I don't have the offer so couldn't tell but I was hoping 20% extra cash back, when applied to the 5%, was 6%.   Is it really just 5.2%?

Message 8 of 24
Established Contributor

Re: US Bank Cash+ bonus cash back offer

Yeah, it's really 5.2%. 20% more, of what it is, if it's 1%, it will be 1.2%. just like the Reserve, if you use the 1x category for example, and you put that money towards traveling thru the portal, your 1x becomes 1.5, you get 50% more. Does that makes sense?
Message 9 of 24
Mega Contributor

Re: US Bank Cash+ bonus cash back offer


@TheBoondocks wrote:
Yeah, it's really 5.2%. 20% more, of what it is, if it's 1%, it will be 1.2%. just like the Reserve, if you use the 1x category for example, and you put that money towards traveling thru the portal, your 1x becomes 1.5, you get 50% more. Does that makes sense?

Right, but with the reserve, if you use the 3x category, and put it towards travel, you get 4.5, which is also 50% more.    Hence my wondering with the US Bank, if I get 20% more cashback, and I am getting 5%, that COULD mean 6 rather than 5.2

Message 10 of 24
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