USAlliance: News?

[Anonymous]

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@JamP wrote:

After 2020, it would not surprise me if all cards go to .75% now...

We all remember when the best cards only gave 1%...

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I seriously doubt that's going to happen any time soon. CUs that are hurting financially will no doubt pull back on their offers but major banks don't really have a reason to. The average customer jumps for cash back cards and then carries a balance at a high APR and makes the bank a fortune. Many don't even redeem their rewards. 

[JNA1]

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@Anonymous wrote:

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@JamP wrote:

After 2020, it would not surprise me if all cards go to .75% now...

We all remember when the best cards only gave 1%...

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I seriously doubt that's going to happen any time soon. CUs that are hurting financially will no doubt pull back on their offers but major banks don't really have a reason to. The average customer jumps for cash back cards and then carries a balance at a high APR and makes the bank a fortune. Many don't even redeem their rewards. 

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This is true. There's a guy I know with a BBVA ClearPoints cards that didn't even  know it had the selectable categories. I showed him that I had earned over $450 on mine just running my utilities through mine and he couldn't believe it. 

[longtimelurker]

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@Credit12Fico wrote:

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@JamP wrote:

After 2020, it would not surprise me if all cards go to .75% now...

We all remember when the best cards only gave 1%...

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At first I was thinking, well Citi can't possibly payout less than 2% on something called a "double cash". And then I remember it's Citi and they'll just rename the card in order to payout less if thats what they felt like.

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You earn 0.25% now, and 0.25% when you pay the next three cycles.   So you earn twice, double cash.   What's the problem!

[longtimelurker]

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@JNA1 wrote:

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@Anonymous wrote:

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@JamP wrote:

After 2020, it would not surprise me if all cards go to .75% now...

We all remember when the best cards only gave 1%...

---

I seriously doubt that's going to happen any time soon. CUs that are hurting financially will no doubt pull back on their offers but major banks don't really have a reason to. The average customer jumps for cash back cards and then carries a balance at a high APR and makes the bank a fortune. Many don't even redeem their rewards. 

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This is true. There's a guy I know with a BBVA ClearPoints cards that didn't even  know it had the selectable categories. I showed him that I had earned over $450 on mine just running my utilities through mine and he couldn't believe it. 

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Right, but such people also wouldn't care if a card went to 0.75% either!   @Anonymous , do you have data for the bolded statement?  I'm not sure that cashback attracts customers as much as a SUB, or maybe something else...

[Anonymous]

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@longtimelurker wrote:

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@JNA1 wrote:

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@Anonymous wrote:

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@JamP wrote:

After 2020, it would not surprise me if all cards go to .75% now...

We all remember when the best cards only gave 1%...

---

I seriously doubt that's going to happen any time soon. CUs that are hurting financially will no doubt pull back on their offers but major banks don't really have a reason to. The average customer jumps for cash back cards and then carries a balance at a high APR and makes the bank a fortune. Many don't even redeem their rewards. 

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This is true. There's a guy I know with a BBVA ClearPoints cards that didn't even  know it had the selectable categories. I showed him that I had earned over $450 on mine just running my utilities through mine and he couldn't believe it. 

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Right, but such people also wouldn't care if a card went to 0.75% either!   @Anonymous , do you have data for the bolded statement?  I'm not sure that cashback attracts customers as much as a SUB, or maybe something else...

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There are plenty of studies and surveys that show customers prefer rewards but then don't necessarily use them. 

"1 in 5 Americans say points are the most valuable benefit of credit card ownership, but 52% don’t actively track their credit card points."

https://www.couponchief.com/blog/credit-card-rewards-survey/

"Loyalty reward programs continue to be the top influencer when consumers are choosing between multiple credit cards. Seventy-nine percent of survey respondents indicated rewards are a key reason they use one credit card over another."

https://www.tsys.com/Assets/TSYS/downloads/rs_2018-us-consumer-payment-study.pdf

SUBs are great but I doubt most people do the math like we do to decide between an upfront SUB and a card that offers high ongoing cash back rates with low or no SUB. I know when I was helping my buddy get a new card, he was more interested in getting cash back than he was a SUB, because he didn't want to have to get another one later. He ended up picking the Discover card for that reason although he was happy to get $50 from my referring him. 

I should also point out that my buddy is exactly the kind of customer the banks like. He revolves a balance month to month and looks at rewards as something to reduce his interest payments. Discover is no doubt making a mint on him by now. 

[JamP]

My original statement was kind of a joke.

Also, it was to draw out the old guys that remember when 1% to 1.5% was the best of the best.

The best card I carried for years was the quicksilver one.

And we all have seen cards nerfed over the years so we just move onto the next biggest and best or we diversify so we have others that will pick up the slack.

I do agree that CUs are offering pretty amazing cards at the moment.

We all know someone that thinks their 1% card is still the best.

[firefox100]

Hi happy new year , if this Alliance credit union in new york then it is no longer secret the credit club just put out a video on You tube about this credit union and how ggood the Visa card was. They also said that they use Fico 2 mortgage scores from Experian. Does this cu require POI and what kind of credit lines do they give out.

[Anonymous]

The following was included on my 28Dec2020 USAlliance credit card statement.  At least they provided notice of the change.

"Please be advised that effective February 1, 2021, USALLIANCE Visa Signature card points accumulation will be reduced to 2pts per $1.00. Cards will still earn 2x the points on great travel, shopping, and cash back rewards!"

[longtimelurker]

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@Anonymous wrote:

The following was included on my 28Dec2020 USAlliance credit card statement.  At least they provided notice of the change.

"Please be advised that effective February 1, 2021, USALLIANCE Visa Signature card points accumulation will be reduced to 2pts per $1.00. Cards will still earn 2x the points on great travel, shopping, and cash back rewards!"

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Where was that?  I don't see it on my 28 Dec statement!

[Anonymous]

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@longtimelurker wrote:

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@Anonymous wrote:

The following was included on my 28Dec2020 USAlliance credit card statement.  At least they provided notice of the change.

"Please be advised that effective February 1, 2021, USALLIANCE Visa Signature card points accumulation will be reduced to 2pts per $1.00. Cards will still earn 2x the points on great travel, shopping, and cash back rewards!"

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Where was that?  I don't see it on my 28 Dec statement!

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It is between the "CUREWARDS POINTS ACTIVITY" section and the Terms and Conditions.  The section is titled "Notes of Interest."