cancel
Showing results for 
Search instead for 
Did you mean: 

USAlliance: News?

longtimelurker
Epic Contributor

Re: USAlliance: News?


@Kforce wrote:

@JamP wrote:

I applied the first week it was out. March 18th I received the email that said the card will arrive in 7-10 days.

Sonofa..... @longtimelurker 

Usalliance.PNG

You guys were right, another 2% card..... It was a good ride, this will be my third 2% card now lolThat "Notes of Interest" as the points are being reduced from 3 to 2, however points are worth twice for cashback.

 

I read that "Notes of Interest" as points from 3 to 2, however 2x points for cashback.

100 =  2 points,  2 points times 2  =  4c per dollar.

 

Not going to close it yet.

Not going to put anything where I can get more than 2c for Feb

AOD users will be switching if it ends up 4c

Still a wait and see.

Strange wording in those "Notes of Interest"

 

 


That seems very optimistic!  "Cards will still earn 2x ... " means that bit hasn't changed, just the reduction from 3 to 2.

Message 61 of 78
longtimelurker
Epic Contributor

Re: USAlliance: News?

Looking at the redemption options, $100 gift cards for 14,400 points.  You could redeem 10,000 for $100 in your account (either savings or statement credit) buy the gift card elsewhere and still have nearly enough points for a $50 redemption.    But I guess people do redeem for giftcards

Message 62 of 78
Kforce
Valued Contributor

Re: USAlliance: News?


@longtimelurker wrote:

@Kforce wrote:

@JamP wrote:

I applied the first week it was out. March 18th I received the email that said the card will arrive in 7-10 days.

Sonofa..... @longtimelurker 

Usalliance.PNG

You guys were right, another 2% card..... It was a good ride, this will be my third 2% card now lolThat "Notes of Interest" as the points are being reduced from 3 to 2, however points are worth twice for cashback.

 

I read that "Notes of Interest" as points from 3 to 2, however 2x points for cashback.

100 =  2 points,  2 points times 2  =  4c per dollar.

 

Not going to close it yet.

Not going to put anything where I can get more than 2c for Feb

AOD users will be switching if it ends up 4c

Still a wait and see.

Strange wording in those "Notes of Interest"

 

 


That seems very optimistic!  "Cards will still earn 2x ... " means that bit hasn't changed, just the reduction from 3 to 2.


Just pointing out the wording.

2x points kind of infers 2 times points it should just be 2 points like the sentence above it.

I am sure it is a nerf not an increase.

I haven't had that many glasses yet!

Message 63 of 78
Credit12Fico
Established Contributor

Re: USAlliance: News?


@longtimelurker wrote:

Looking at the redemption options, $100 gift cards for 14,400 points.  You could redeem 10,000 for $100 in your account (either savings or statement credit) buy the gift card elsewhere and still have nearly enough points for a $50 redemption.    But I guess people do redeem for giftcards


Behaviour like this keeps a 3% card alive. There clearly wasn't enough of it lol.

Message 64 of 78
digitek
Established Contributor

Re: USAlliance: News?

Anyone thinking of going for the AOD card now that this one has been changed to 2%?

 

This one didn't have a SUB and neither does the AOD. I am also concerned about how long that card will stay at 3%.

 

I don't think I am going to, but wondering if anyone else is?

Message 65 of 78
batsy71
Regular Contributor

Re: USAlliance: News?

@digitek I am in that boat. Same dilemma: two of the three 3x cards introduced in 2020 shuttered. AOD was also the one that took in the maximum applicants (of the 3), so logic says it's days are numbered too. I am already stuck with a needless CU account + cc that I will have to shutter with USAlliance. Wondering if repeating a new app with AOD will be another short term honeymoon turning into another long term appendage.

The only thing prompting me to go for AOD is the possiblity that what if they go the grand-father way for existing users instead of nerfing for all.

Message 66 of 78
Credit12Fico
Established Contributor

Re: USAlliance: News?

Would Florida Tropical and US Alliance have nerfed if COVID didn't happen? I bet they would not have. These changes seem related to the economic impacts of Covid. So it's possible for a return to 3% from either lender.


Message 67 of 78
PullingMeSoftly
Established Contributor

Re: USAlliance: News?

Didn't USAlliance allude to their 3x rate being for a limited time? That would indicate a pre-determined schedule for the change versus a sustainability change. Very different from AOD, where there hasn't been a hint of any kind of change throughout the duration of the card's lifespan (at least for as long as we know it). 

 

Also, there may be some sort of cash flow advantage for AOD doing automatic redemption as statement credit each month, so there's no points/rewards balance buildup. I would compare it to Abound's gas card with the same uncapped nature of their 5% rate that is also auto-redeemed each month, and also unchanged throughout Covid, etc.






Message 68 of 78
longtimelurker
Epic Contributor

Re: USAlliance: News?


@PullingMeSoftly wrote:

Didn't USAlliance allude to their 3x rate being for a limited time? That would indicate a pre-determined schedule for the change versus a sustainability change. Very different from AOD, where there hasn't been a hint of any kind of change throughout the duration of the card's lifespan (at least for as long as we know it). 

 

Also, there may be some sort of cash flow advantage for AOD doing automatic redemption as statement credit each month, so there's no points/rewards balance buildup. I would compare it to Abound's gas card with the same uncapped nature of their 5% rate that is also auto-redeemed each month, and also unchanged throughout Covid, etc.


Yes, USAlliance did indicate it was for a limited time, only once we got the cards.     USAlliance is bigger than AOD (110k compared to 33K pre MyFico interest), which might also make a difference.     But, IMO, it all comes down to if AOD is making enough from the card by, e.g. having a different user base with more paying interest, or perhaps relatively fewer people with the card so the loss is offset from other products, or if they simply haven't decided to stop yet!

Message 69 of 78
CreditCuriosity
Moderator

Re: USAlliance: News?

You all stay away from my beloved AOD Smiley Tongue..  I expect a nerf although they have certainly tightened up their approval criteria.  I wish they would just cap the 3% to a reasonable amount of say 1500-2k a month and would solve the possible abuse issue.  They slightly tightened up UW considerably.  I expect some of USAlliance/Flordia FCU trying to get into AOD some will be able to get in and some won't.  Stinks only one 3% card now currently exists.  Though in all honestly I would be ok if they did a nerf to 2% although wouldnt like it due to no FTF no min redemption and a great APR although never carry balances still nice to have..These CU's I think could make it work if they say they make you have say a 5k balance in savings or checking to be able to get 3% back get rid of some of unprofitable people and offset a loss leader type product.

Message 70 of 78
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.