BoA laughing at US Bank.
@Kforce wrote:
@ptatohed wrote:
I'm actually surprised there isn't a flood of applications before the 14th!!!!
https://www.usbank.com/credit-cards/bank-smartly-visa-signature-credit-card.htmlDecided to go for it, just a minute ago.
Got a we are reviewing your application might take 7-10 day message.
Either they don't like me, or something I entered, or are delaying applications untill new rules take effect.
Only 7-10 day's away.
Thanks for the push @ptatohed
As you read around the Forum, US Bank comes up often for "we are reviewing your application ...." not to be taken as a bad sign. For reasons beyond my paygrade, US Bank uses computerized processing and then sends some of the applications for a manual review. Not one of my applications went through automatically even when the local branch personal banker entered the data and called. Always took 2 to 4 days. Even the banker told me my applications would be denied and yet, all were approved with good CLs.
US Bank used to use a "Customer Relations Score" that assisted approval but, unknown to me today (relationship banking). Sometimes out of the blue they will approve for a $500CL and a new customer calls in for a re-consideration and comes back with a $10,000+ CL. Patience with US Bank they still are conservative.
As to the IT, yesterday for some parts but modernizing. Old customer here that dates to 2012. Oh, got denied for this card and found out two weeks later it was over verifying me ... problem was, nobody notified me and I had no idea!!! Did ultimately get the card and a very nice CL.
@Anonymous wrote:
@salt_water_swimming wrote:More details rolling in: https://old.reddit.com/r/CreditCards/comments/1juhcy1/revised_smartly_visa_credit_card_launches_april/
Copied from the comments of @salt_water_swimming 's posted link
Summary:
The U.S. Bank Smartly Visa credit card has undergone some rewards earning changes. Existing accounts won't be changed at this time; instead, there will be two different versions of the Smartly credit card beginning April 14.
Internally, these are referred to as Smartly v1 (original) and Smartly v1.1 (revised).
U.S. Bank Smartly Visa Signature Product Summary and U.S. Bank Smartly Visa Signature Card Overview & FAQs have been updated to include information for both versions of the Smartly credit card. There aren't any changes to who services or assists with the accounts.
Action:
- Understand how to identify v1 versus v1.1.
- Understand the differences between the two versions to best assist cardmembers.
- Don't proactively discuss the two versions or refer to the product versions as v1 and v1.1 with cardmembers.
- Focus on the version they have already. If they don't have one yet, keep focus on the version that's available for application at the time of the call.
- Cardmembers may not be aware of the differences in the versions of the product.
- If cardmembers are aware and specifically ask about the versions, see the FAQs below to help answer those questions and more.
v1: Product code: 9490 (Application dated before April 14, 2025)
v1.1: Product code: 9497 (Application dated on or after April 14, 2025)
New card: (v1.1)
- Bank Smartly cardmembers who also have an open U.S. Bank Smartly® Savings account and a qualifying balance in U.S. Bank Smartly® Checking Account and/or Safe Debit account can earn even more.
- $10,000 - $49,999.99: Earn a total of 2.5 points per $1 of eligible net purchases (a base of 2 points plus the Smartly Earning Bonus of 0.5 Points)
- $50,000 - $99,999.99: Earn a total of 3 points per $1 of eligible Net Purchases (a base of 2 points plus the Smartly Earning Bonus of 1 Point
- $100,000 or more: Earn a total of 4 points per $1 of eligible net purchases (a base of 2 points plus the Smartly Earning Bonus of 2 Points)
Exceptions:
- Cap: Smartly Earning Bonus applies to a maximum of $10,000 in eligible net purchases each card billing cycle. Eligible net purchases over $10,000 during each card billing cycle will carn the base earn of 2 points per $1 spent in net purchases.
- Non-qualifying transactions for the Smartly Earning Bonus: Not all purchases are eligible to earn the Smartly Earning Bonus. These transactions will earn 2 points per $1 spent in net purchases and may not ear additional points. These purchases are also not included in the $10,000 cap.
- Purchases classified as:
- Education/school
- Gift cards including discount gift card sites)
- Insurance
- Tax
- *Business-to-business transactions" (transactions with merchants who are in the business of supplying goods and services to other businesses, such as advertising services, plumbing/heating suppliers, construction material suppliers excluding home improvement stores, and computer programming services), even if not made for a business purpose
- Transactions using third-party bill payment services.
Rewards
- Cardmembers earn unlimited 2% cash back on every purchase.
- Bank Smartly cardmembers who have an open U.S. Bank Smartly Savings Account and qualifying balances in specified U.S. Bank consumer accounts can earn even more. See chart below for details of each card version.
- This card earns cash back rewards in the form of points. Rewards can be redeemed as a deposit into an eligible U.S. Bank deposit account. Other redemptions, such as for statement credits and gift cards, may be at a reduced redemption rate.
- U.S. Bank revised the Bank Smartly Card on April 14, 2025, to focus on improving reward benefits. (hahaha.. haha.. ha...)Key changes for V1.1 include:
- Cardmembers must have (BOTH!) a U.S. Bank Smartly Savings account and qualifying balances in U.S. Bank Smartly Checking or Safe Debit account(s) to earn a Smartly Earning Bonus.
- The minimum balance required to earn a Smartly Earning Bonus is now $10,000 (up from $5,000).
- Balances in U.S. Bank Smartly Savings, CDs, IRAs, U.S. Bancorp Investments or trust accounts no longer qualify.
- Bonus reward exclusions now include tax payments, business-to-business purchases, insurance, education/tuition, third party bill payments and direct selling Gift Card online sites. These purchases will earn the base earn of 2% cash back.
- Smartly Earning Bonus spend cap is $10,000 per billing cycle (previously unlimited, no caps on spend). Any additional spend beyond the $10,000 in a billing cycle will still earn 2% cash back on every purchase with no caps.
v 1.0 Customer Qualifying Balance:
- 2%: base
- 2.5%: $5k+
- 3%: $50k+
- 4%: $100k+
v 1.1 Customer Qualifying Balance:
- 2%: base
- 2.5%: $10k+
- 3%: $50k+
- 4%: $100k+
Must have or open (BOTH!) a Smartly Savings Account with a minimum opening deposit of $25 and Smartly Checking or Safe Debit Account (v1: Only needed Savings)
At the end of each day an average Qualifying Balance is calculated. The balance is based on a 30-day (v1: 90-day) average balance of all qualifying accounts.
$10K per billing cycle spend cap.
Man, v1.1 does not sound like an easy sell at all with that no-interest checking balance qualifier in orderto get so many restricted and unpredictable cashback categories. It didn't say much about how v1.0 will be changing huh... maybe that's a good sign.
All I know is the $100k I put in ($50k robo, and $50k self directed) now is worth $86k. I'm not even sure if I am getting 4% any more. 
@ptatohed wrote:
All I know is the $100k I put in ($50k robo, and $50k self directed) now is worth $86k. I'm not even sure if I am getting 4% any more.
I believe BoA wouldn't hold it against your Preferred Rewards status if that $14K drop was due only to the drop in market value of the portfolio with no assets being moved out of the account. At a minimum you'd at least retain current status through the rest of the calendar year
I wouldn't lose hope here....
@Anonymous and @salt_water_swimming
Glad you captured the US Bank Smartly Visa account change information.
The following is a big change to me! The "exclusion of US Bank Smartly Savings, CDs, IRAs, US Bank Investments or trust accounts no long qualify"...! It can't be real ... this will leave us to place large dollar amounts into the Smartly Checking to sit at virtually 0% (not going to happen) assuming I am reading this correctly?
In reviewing my US Bank Smartly Checking Account rate, I find it showing on my account, at the rate of 0.001% interest [get real]! Must be more to this? All of us will be in an uproar!!! 
- Cardmembers must have (BOTH!) a U.S. Bank Smartly Savings account and qualifying balances in U.S. Bank Smartly Checking or Safe Debit account(s) to earn a Smartly Earning Bonus.
- The minimum balance required to earn a Smartly Earning Bonus is now $10,000 (up from $5,000).
- Balances in U.S. Bank Smartly Savings, CDs, IRAs, U.S. Bancorp Investments or trust accounts no longer qualify" ...
Unreal! Assuming all this, we could go many places and obtain a 2% card with no other requirements. The supposed requirements would never have caused me to even bother with the US Bank Smartly program. Too much work with way to many unreal requirements. Know many posters worked to take advantage of the offerings! Fuming!