Bad changes coming to US Bank Cash + Card

All about maximizing your rewards!
Members share tips and tricks for getting the most miles, & points.
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MemberSince99
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Postby MemberSince99 » Mon Jan 21, 2013 12:17 pm

silver6054 wrote:Right, which is why I use "abuse" in quotes.

However, it has two clear possible technical meanings:

1) Usage that incurs more cost for the vendor than the vendor expected. But more crucially:
2) Someone who uses the card to get more rewards than I do!


hahaha I love number 2 there! Good one!

About number 1 I still don't see how they wouldn't have done the "worst case scenario" math and anticipated that might happen. Assume you are going to pay 5% rewards and do the math on that basis. In the end you wll do better than this in the real world I'm sure, but how could they not have done that? And if it isn't sustainable, why do it because you will royally hack off your customers when you nerf the hell out of it and lose business and be worse off than if you'd just set things up to be sustainable in the first place.

I actually interviewed at US Bank last spring for a contract IT job. They seemed nice and like a good group, but a little random at times too I kind of sensed. Better I suppose than the stodgy ones like Citi, but they should have realized 5% billpay was a BIG THING and to nerf that is going to do a lot of damage to their image.


cashback
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Postby cashback » Mon Jan 21, 2013 12:23 pm

Yeah I don't understand their thinking either. If I can do the math on it and figure out it's a huge loss for them, then they should too. You could get about 10% cash back with this card if you used $100 redemptions and had the Platinum checking package(Gold? maybe) to get the 50% monthly bonus.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

RewardHop
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Postby RewardHop » Mon Jan 21, 2013 12:34 pm

From what I've read, it seems like Best Buy does sell Prepaid Visa or Mastercard gift cards. This could be a decent way to milk the 5% Electronic Stores. I will try and confirm soon.
[size=60]
Amex BCE: 3% grocery, 2% gas
Bank of America Better Balance Rewards MC: $25/quarter bonus
Barclaycard Rewards Visa Signature: 2% gas, groceries, utilities
Capital One Quicksilver Visa Signature: 1.5% everything
Chase Freedom Visa Signature: 5% rotating
Citi Forward Visa: 5% restaurants/fastfood, movie theaters, amazon.com
Discover It: 5% rotating
SallieMae MC: 5% Groceries, Gas, Amazon
US Bank Cash+ Visa Signature: 5% electronic stores, restaurants
Sock Drawered: Chase Sapphire, Chase Amazon[/size]

MemberSince99
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Postby MemberSince99 » Mon Jan 21, 2013 12:37 pm

RewardHop wrote:From what I've read, it seems like Best Buy does sell Prepaid Visa or Mastercard gift cards. This could be a decent way to milk the 5% Electronic Stores. I will try and confirm soon.


You guys are pretty smart. That's a great idea. I never even thought of it. I bought a TV, sound bar, and Blu ray player at Best Buy recently, and it never dawned on me to do that. Of course I didn't have the electronics category, but even if I had, I probably wouldn't have thought of gift cards. You guys come up with some really good ideas.

cashback
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Postby cashback » Mon Jan 21, 2013 12:37 pm

RewardHop wrote:From what I've read, it seems like Best Buy does sell Prepaid Visa or Mastercard gift cards. This could be a decent way to milk the 5% Electronic Stores. I will try and confirm soon.


I've been to two Best Buy's looking for gift cards. They did not have Visa/MC gift cards. The only gift cards they had there were Best Buy(obviously), Sirius Radio, and Amazon.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

MemberSince99
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Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Mon Jan 21, 2013 12:53 pm

cashback wrote:I've been to two Best Buy's looking for gift cards. They did not have Visa/MC gift cards. The only gift cards they had there were Best Buy(obviously), Sirius Radio, and Amazon.


Thanks to you I'm finally "getting" how this works. You just buy the gift cards you want say Amazon at Best Buy and if you can get the 5% or more cashback like with the Cash + that way, you get it for other things too that you wouldn't otherwise be able to do.

I hate to admit it but I'm such a big dumb*ss that I never grasped the concept until reading the posts by you guys here. So you've taught me and I appreciate that!

FutureBillionaire
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Postby FutureBillionaire » Mon Jan 21, 2013 2:15 pm

cashback wrote:Just changed to the Platinum Rewards card. Main reason being I like to save all my cash back for redemption in December. With the Cash Rewards card it was an automatic credit each statement.


You will love this card. I use it at the grocery store fairly often when my other cards dont' get me five percent.

I like having the auto cash back to get discounts on my future gas purchases, which is why I ended up keeping both of them.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

FutureBillionaire
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Postby FutureBillionaire » Mon Jan 21, 2013 2:16 pm

RewardHop wrote:From what I've read, it seems like Best Buy does sell Prepaid Visa or Mastercard gift cards. This could be a decent way to milk the 5% Electronic Stores. I will try and confirm soon.


I feel like I only see Amazon cards. I have seen gift cards for different places at gas stations. I'm going to have to look around. I need to figure out my cash + categories for next quarter, besides the cell phone one.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

RewardHop
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Posts: 307
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Location: USA

Postby RewardHop » Mon Jan 21, 2013 4:13 pm

cashback wrote:I've been to two Best Buy's looking for gift cards. They did not have Visa/MC gift cards. The only gift cards they had there were Best Buy(obviously), Sirius Radio, and Amazon.


I don't doubt you either. I haven't confirmed at my local best Buys yet.
I just saw people on Slickdeals using the $50 off $100 MasterCard promo mentioning buying prepaid Visa cards there in addition to Amazon GCs.
[size=60]

Amex BCE: 3% grocery, 2% gas

Bank of America Better Balance Rewards MC: $25/quarter bonus

Barclaycard Rewards Visa Signature: 2% gas, groceries, utilities

Capital One Quicksilver Visa Signature: 1.5% everything

Chase Freedom Visa Signature: 5% rotating

Citi Forward Visa: 5% restaurants/fastfood, movie theaters, amazon.com

Discover It: 5% rotating

SallieMae MC: 5% Groceries, Gas, Amazon

US Bank Cash+ Visa Signature: 5% electronic stores, restaurants

Sock Drawered: Chase Sapphire, Chase Amazon[/size]

DavidNY
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Location: New York

Postby DavidNY » Mon Jan 21, 2013 10:19 pm

That $50 off $100 MC offer is dead as of Tuesday, Worst Buy changed the terms.



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