Bad changes coming to US Bank Cash + Card

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FutureBillionaire
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Location: Down South

Postby FutureBillionaire » Sat Feb 16, 2013 7:13 am

Sevenfeet wrote:Well, most of us don't have as many cards as you. :) (two Penfed cards? Really?)

What else about it has been poorly managed?


They clearly made the card too good to be true. If they don't add the caps, then I won't be as annoyed. Otherwise, they gave the farm away and then overreacted. They should have seen that the card could net ridiculous cash back if used correctly.

There is actually a story behind my two penfed cards. I had the cash rewards card for a long time. I randomly received a CLI on it after a year or so. Since they had recently released the points driven rewards card, I asked if they could use the same pull for the CLI and allow me to get the points card so I could get the grocery points and the sign up bonus. They said I could. The rest, as they say, is history. I use both because one statement closes in the middle of the month and one closes at the end of the month.
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


Sevenfeet
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Location: United States

Postby Sevenfeet » Sat Feb 16, 2013 7:35 am

Perhaps. Or they could have known early that having BillPay would attract a lot of card owners, even if it wasn't available 100% of the time. I'm sure that this card is a growth business for them, even though its knowledge is mostly word of mouth (no expensive national ad campaign).

But if I had to offer feedback to them, I would change the card to add more options in the 2% category, or allow some categories to be used for either 5% or 2%.

Interesting story on the dual Penfed use. Still waiting ( impatiently) for my PRV in the mail. Maybe today?
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)

FutureBillionaire
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Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Sat Feb 16, 2013 8:01 am

Sevenfeet wrote:Perhaps. Or they could have known early that having BillPay would attract a lot of card owners, even if it wasn't available 100% of the time. I'm sure that this card is a growth business for them, even though its knowledge is mostly word of mouth (no expensive national ad campaign).

But if I had to offer feedback to them, I would change the card to add more options in the 2% category, or allow some categories to be used for either 5% or 2%.

Interesting story on the dual Penfed use. Still waiting ( impatiently) for my PRV in the mail. Maybe today?


I think you can request them to expedite it. I can't remember for sure. I also agree that I would add more options to the 2% category. I would be ok with bill pay was 2%.

It was a growth business. They advertised great rewards and then changed them in what seems like less than a year. In the end, they are the ones hurting because I don't think many of us will use the card as often. It's going to backfire.
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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Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Sat Feb 16, 2013 8:03 am

Why didn't US Bank just change the bill pay to a 2% category? Or just change the categories that they removed to 2%? Wouldn't that have been a good compromise?
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

Sevenfeet
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Posts: 532
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Location: United States

Postby Sevenfeet » Sat Feb 16, 2013 10:44 am

FutureBillionaire wrote:Why didn't US Bank just change the bill pay to a 2% category? Or just change the categories that they removed to 2%? Wouldn't that have been a good compromise?


I agree that 2% BillPay long term would have been a good long term benefit for the card. It would have been balanced by the fact that since there is only a single 2% category, you would have had to give up groceries or gas in order to benefit from it, limiting the cash back liability for US Bank. I'm sure someone is thinking about that...we'll see if it happens.
Cards:

American Express Platinum (NPSL)

Penfed Platinum Reward Visa ($28K)

Chase Freedom Visa ($25K)

Fidelity American Express ($20K)

American Express Blue Cash Preferred ($20K)

Bank of America Cash Rewards MasterCard ($20K)

Citi Thank You Preferred Visa ($9.5K)

Chase Sapphire Preferred ($7.5K)

US Bank Cash + Visa Signature ($7K)

Discover IT ($4K)

RewardHop
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Location: USA

Postby RewardHop » Sat Feb 16, 2013 10:29 pm

Or just get a 2% all around card like the Priceline Visa or Fidelity Amex...
[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]

Bksuper
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Posts: 257
Joined: Sun Oct 14, 2012 10:22 pm
Location: California

Postby Bksuper » Sun Feb 17, 2013 4:05 am

Right, if you want 2% bill pay, get a 2% blanket card. What I think they should have done is replace the Bill Pay, Home Improvement Stores, and Airfare with a Health Care/Medical Bill Pay category, Insurance Bill Pay Category, and Cable/Internet/Phone/Cell Phone Bill Pay Category. That way you have to use both of your 5% categories to get most of the benefits of Bill Pay, and still not all of them. This combined with the caps and $25 bonus limit would have been enough.
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012

Sevenfeet
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Location: United States

Postby Sevenfeet » Sun Feb 17, 2013 6:41 am

RewardHop wrote:Or just get a 2% all around card like the Priceline Visa or Fidelity Amex...


Actually, my next app will be the Fidelity Amex. I already have funds at Fidelity and I estimate that my wife and I spend upwards of $60k a year on stuff that wouldn't fit into a category on a typical rewards card. That's $1000 a year in savings.

I had posted about whether I should wait to apply before or after my new Penfed PRV hits the credit report. I think I am going to wait since I'm going to wash my daughter's tuition through this card which means I'll have a biannual $9k charge it, so I want a CL in line with my others (>$20k).
Cards:

American Express Platinum (NPSL)

Penfed Platinum Reward Visa ($28K)

Chase Freedom Visa ($25K)

Fidelity American Express ($20K)

American Express Blue Cash Preferred ($20K)

Bank of America Cash Rewards MasterCard ($20K)

Citi Thank You Preferred Visa ($9.5K)

Chase Sapphire Preferred ($7.5K)

US Bank Cash + Visa Signature ($7K)

Discover IT ($4K)

FutureBillionaire
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Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Sun Feb 17, 2013 9:19 am

Bksuper wrote:Right, if you want 2% bill pay, get a 2% blanket card. What I think they should have done is replace the Bill Pay, Home Improvement Stores, and Airfare with a Health Care/Medical Bill Pay category, Insurance Bill Pay Category, and Cable/Internet/Phone/Cell Phone Bill Pay Category. That way you have to use both of your 5% categories to get most of the benefits of Bill Pay, and still not all of them. This combined with the caps and $25 bonus limit would have been enough.


I think this is a great compromise as well.
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
Centurion Member
Centurion Member
 
Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Sun Feb 17, 2013 9:20 am

Sevenfeet wrote:Actually, my next app will be the Fidelity Amex. I already have funds at Fidelity and I estimate that my wife and I spend upwards of $60k a year on stuff that wouldn't fit into a category on a typical rewards card. That's $1000 a year in savings.

I had posted about whether I should wait to apply before or after my new Penfed PRV hits the credit report. I think I am going to wait since I'm going to wash my daughter's tuition through this card which means I'll have a biannual $9k charge it, so I want a CL in line with my others (>$20k).


I would app now before the other card hits your report. Why wait?
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



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