US Bank/Elan New Deals Program

[CamelMan777]

I received a survey today (email) about my Elan card. It was explaining that US Bank/Elan is planning to start offering deals similar to BankAmerideals/Amex Offers/Chase Offers for customers. The survey mostly asked what I think their "deals" should be named. It sounds like it's pretty much ready to be launched, but they didn't confirm anything for sure. I'm pretty excited!

(Notice it says "May be offered")

[AverageJoesCredit]

Should be called  Deals+ 🤣

[5KRunner]

I completed the same survey. If this actually happens, it'll give me a reason to use my Cash+ for more than just recurring utility and cellular payments. I've made a significant amount of money with similar programs from other lenders.

[Janus]

"Another average portal to waste points on things you don't really need" Or is that too long? 

I guess it would depend on what they offer and the redempton rate is on whether it's useful or not.

[Anonymous]

Even more evidence that Discover getting rid of their deals portal was a move that made no sense. 

I have been known to use NFCU's from time to time. The deals aren't as good as the dedicated portals like BeFrugal and Rakuten but you don't have to wait months to get paid either. If you're a patient type, you can come out ahead almost every time by checking cashbackmonitor.com to see which portals are offering the best return but it's not as convenient as just clicking through a Cartera portal with your credit card. 

[longtimelurker]

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@Janus wrote:

"Another average portal to waste points on things you don't really need" Or is that too long? 

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My guess is that isn't in the top 10 for consideration.   Major problem is the use of "Another" which gives a wrong marketing message.   Maybe "A nearly unique portal to waste points on things you don't really need" will fly better.

[kdm31091]

What's even more interesting to me is that Discover has not added or improved anything since removing theirs deals portal even though they claimed it was to "focus on better ways to reward you" or something. 

[ficosuave]

Just noticed this "cash back deals" section in my account.

[FormerCollegeDJ]

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@Janus wrote:

"Another average portal to waste points on things you don't really need" Or is that too long? 

I guess it would depend on what they offer and the redempton rate is on whether it's useful or not.

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Based on what was written above, what US Bank/Elan Financial Services plan to offer is more analogous to (using one CC issuer example) Chase Offers than deals through the Chase Ultimate Rewards portal.  With Chase Offers, Amex Offers, BankAmeriDeals (Bank of America), and My Wells Fargo Deals, a card holder typically receives discount offers they can activate that provide a certain percentage discount on spend at a specific retailer up to set amount or a certain dollar amount discount at a specific retailer if a set spending threshold amount is met.  The discounts can be received by using the card at the retailer with the deal either in person or online, though usually the transaction needs to be made directly with the retailer.

In contrast with the programs above, with programs like Capital One Shopping or Go Far Rewards (Wells Fargo), a card holder needs to go through the card issuer's portal to make an online purchase.  Typically those programs require the purchase to be made online for the deal to be valid, and direct purchase with the retailer using the applicable card will not activate the deal.  (I will note that some Go Far Rewards deals actually have a setup more similar to My Wells Fargo Deals and don't require purchase through the Go Far Rewards portal.)

I'm personally a much bigger fan of the former types of deals because you can earn those deals through more common spend and through any transaction with a retailer, rather than only purchasing products or services online through a 3rd party portal.