Bad changes coming to US Bank Cash + Card

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FutureBillionaire
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Postby FutureBillionaire » Fri Jan 18, 2013 3:03 pm

silver6054 wrote:And I wonder if that card is the next for nerfing! I use it for 5% gas, will use it for 3% for groceries once BCP cap is reached, and nothing else. Doesn't sound sustainable. Although I guess the Plat Cash Rewards has been around a while. Didn't they reduce the "other" there from 1% to 0.25%, but I would still think most people would use that only for gas.


They did. That's why I got the Platinum Rewards. I use it for every day spending because the points add up fast.

I have no idea what I will use the cash + for, other than cell phones. We really need to get on social media and let US Bank know that they will use business. I don't see myself carrying this card...
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


MemberSince99
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Postby MemberSince99 » Fri Jan 18, 2013 3:13 pm

FutureBillionaire wrote:They did. That's why I got the Platinum Rewards. I use it for every day spending because the points add up fast.

I have no idea what I will use the cash + for, other than cell phones. We really need to get on social media and let US Bank know that they will use business. I don't see myself carrying this card...


I'm sure they are well aware that current customers won't be too happy with this. They've obviously decided this is what they are going to do and I doubt we are going to change their minds about it.

You're right - why in hell would we carry and use this with the substandard rewards? There is no real reason to, other than a few niche things like say cell phones, or fast food, but how we might as well just use our heavy hitter cards for that as well unless you drop 100 bucks a day at McDonald's.

It's kind of a pointless card with these changes. My biggest fear was they'd nerf bill pay. Well they sure did that, and then some too. There is not much that is very appealing about it anymore. I can't even advise it as a niche card, there is just better out there.

It sure didn't last very long.

Bksuper
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Postby Bksuper » Fri Jan 18, 2013 4:52 pm

hematino wrote:+1

Bksuper, I am curious about your First Financial Bank card. Was it always a 2% rewards card? 1FB Gold Visa was my first credit card and I have been a member since 2004 and it has always just been a cut and dry no frills or rewards card. I started with a limit of $500 and it jumped to $1800 a year later and hasn't moved since (and 29.99% APR! which they refuse to lower). I had heard about a 2% back product offered by them in both Platinum Visa and MC form, but I can't find a lot of details and their shady website doesn't mention specific products. I called and tried to product change or something a few times and they CSRs always act like they have no idea what I'm even talking about. Only reason I still bother to keep the card is that its my oldest trade line and helps boost my AAoA amidst all my new accounts these past two years. How do you like your card?

I got the invitation in the mail before I had talked my parents into applying jointly to get my high end cards so I got it to start building credit and was given the gold card with a $150 limit, no rewards, and a $25 AF after the first year, with no credit history. I read about the Platinum card with no AF and 2% back automatically applied as statement credit in any amount (even 1c) when the statement cuts and before the balance is reported. I called and the CSRs confirmed it and happily agreed to switch me over, no questions asked, and I asked for and got a credit limit increase (although they only gave me an increase to $250) in the same call. They used to get a bad rap for charging fees to pay online, but they don't anymore (atleast for customers on their current programs) and for giving penalty APRs and late fees easily and not reversing them. Their CSRs have been good to me and not done such things to me but I do get the impression they are strict regarding their policies and try to discourage customers from carrying a balance with high APRs after the first year and are very unforgiving about late payments. I pay my bills on autopay and never carry a balance so this does not affect me. I can see them being condescending to customers who do pay late or carry a balance and complain about the high APR, as Ive read this about them a lot and they are pretty strict about keeping the limit low regardless of income and credit score until you've been with them for years. You have to call for a CLI, they only allow you to apply once you've had the card for 6 months and only once per 6 months and they cap how much you can apply for heavily in the first couple years of cardmembership, I hear. This is in response to the CARD act because they cater exclusively to students (although you can keep your card once you graduate). They used to give high limits and automatic limit increases that were quite large before then, I hear. I think you could easily get yours PCed to the Platinum if you've kept your card in good standing (never late, always pay in full, charged atleast 1 purchase every month, etc).

Back on topic, Lowes has as good a selection of GCs as my local supermarket, and the Cash+ considers it a DS. It still is quite flexible and is a good supplement to round out the fixed categories of other good cards. And I don't have (and can't get, as it was the last card my parents would guarantee) a different card that competes limit-wise. I challenge anyone to come up with a better card currently even post changes that wouldn't be even better having a Cash+ in addition to it. The BCP and Freedom cards everyone seems to like also have a cap.
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

cashback
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Postby cashback » Fri Jan 18, 2013 5:35 pm

Bksuper wrote:Back on topic, Lowes has as good a selection of GCs as my local supermarket, and the Cash+ considers it a DS. It still is quite flexible and is a good supplement to round out the fixed categories of other good cards. And I don't have (and can't get, as it was the last card my parents would guarantee) a different card that competes limit-wise. I challenge anyone to come up with a better card currently even post changes that wouldn't be even better having a Cash+ in addition to it. The BCP and Freedom cards everyone seems to like also have a cap.


The reason I'm mad about it is because of how quickly they changed it. It is the classic "bait and switch." They give you something almost too good to be true and then take it back less than a year later when they have a ton of new account holders.

It is now just an alright card for me. Its awesome that your local supermarket counts as a department store though.
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

Bksuper
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Location: California

Postby Bksuper » Fri Jan 18, 2013 6:14 pm

^ My local supermarket does NOT count as a department store, it just doesn't offer a better selection of gift cards than Lowes, which does. I don't buy gift cards because my spending is not high enough for it to be worth it, and my transportation means are limited for getting to specific B&M stores on impulse. Thats why I think the Cash+ which is flexible, offers 5-6.25% back in TWO categories, not just one, pays respectable base rewards, still allows for $25 bonus every year, has a cap that amounts to $8k per year not $6k, and is a visa signature which has just as many perks as amex and NO AF, taken more places, is a better card even post changes than the BCP, which is still considered a great card here, even if I don't like it.

As for it being too soon, when these changes go into effect the program will be a year old; I'm disappointed but I don't think they're being unreasonable to the extent that would justify reduced spending to the card beyond what gets better rewards on other cars post-changes, let alone closing the card and boycotting it.
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

cashback
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Postby cashback » Fri Jan 18, 2013 6:36 pm

So wait... then you're saying Lowes counts as a department store for your Cash+? That doesnt make sense...
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

Bksuper
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Location: California

Postby Bksuper » Fri Jan 18, 2013 6:43 pm

I thought it did, having read that somewhere else on the forums, not that stores like Macys and JC Pennys dont have the Visa/Amex GCs as well. Like I said, I don't personally buy gift cards for the purpose of increasing cash back.
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

cashback
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Location: NY

Postby cashback » Fri Jan 18, 2013 7:31 pm

I'm pretty sure Lowes falls under the Home Improvement stores category (which is going away) for the Cash+. And my local Lowes does have a good selection of gift cards, but not $500 Visa/MC ones. Not many places around me carry them. Most stores that have GC's only have them up to $100. You have to search for the $500 ones.
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 » Fri Jan 18, 2013 8:27 pm

cashback wrote:Technically yes it would be the better card for that. But then you'd be missing out on the new cell phone category (if that actually happens). It sucks that Cash+ seperates Restaurants and Fast Food. Wish they would combine the two and then the card wouldn't be bad for cell phone and food.


Thanks. My work pays for my phone service so that category is useless to me unfortunately. I wouldn't mind Cable/Internet bill category though ;)

silver6054 wrote:Not sure it is better. Forward is 1:1 for some choices (mortgage/student loan) and if you have another TYP card, 1:1 for all. More importantly, now Forward is uncapped, as compared to $2K per quarter for all on Cash Plus.


Does Forward do 1:1 on gift cards at all?
[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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Postby DavidNY » Fri Jan 18, 2013 9:09 pm

I was thinking of applying then they took the app off the web, now I'm glad I didn't bother with it.

Image

RewardHop wrote:I wouldn't mind Cable/Internet bill category

Chase Ink offers 5% cash back on cell phone, landline, cable and internet bills as well as office supply stores.



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