Bad changes coming to US Bank Cash + Card

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

Postby Bksuper » Fri Jan 18, 2013 9:29 pm

I really don't get why people don't think the card is worthwhile post changes. They took an absurdly good and made it just excellent. It is still a good card for any portfolio.
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


MemberSince99
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Posts: 4913
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Location: WI

Postby MemberSince99 » Fri Jan 18, 2013 9:41 pm

Bksuper wrote:I really don't get why people don't think the card is worthwhile post changes. They took an absurdly good and made it just excellent. It is still a good card for any portfolio.


You're joking right? It was great in a few specific areas (bill pay, travel) and they of course nerfed those. It's no better than mediocre now. My BofA offers 3% on gas and 2% on groceries, and my Associated Card gives 3% on both of those and drug stores too. In terms of weekly spending that's where it is for me. And my Barclay's card gives 2% on billpay so guess who's going to get that business now? Yep, not US Bank.

If I could give you mine, I would if you want it so bad, I sure as hell don't care about it anymore. It goes to the back of my wallet. If it had an annual fee, I would have closed it - that's all that keeps it alive for now.

MemberSince99
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Postby MemberSince99 » Fri Jan 18, 2013 9:45 pm

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

Image


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



I would say at this point, yeah I agree David, would have been a wasted pull. That's kind of how I see it too. I'm stuck with mine now, I won't close it unless they give it an annual fee, then screw it, it's goodbye baby. I don't think they will, but hey I didn't think they would slash the rewards so drastically either so what do I know? Not much apparently.

Good pic by the way and I think it's pretty appropriate.

Bksuper
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Location: California

Postby Bksuper » Fri Jan 18, 2013 9:51 pm

^Its good because while it may have lost its best category (and not be the best card for non-cell phone bill pay) its category selection is still as good as its competitors, you get to pick what you will use and what the cards on your current portfolio don't match or beat, unlike a rotating card, and the cap is still higher than the Freedom, More, BCP, etc. You can get 5% on DS gift cards and I still don't believe the supermarket selection is much better. For you to call this card mediocre you suggest the aforementioned cards are terrible and they seem to be top tier on most discussions. Yes, if I could only have one card Id choose a 2% on everything visa over it now (which wasn't even the case before) but I still think its the best of the category rewards credit cards even after the changes. And its not a bait and switch; by the time the changes go into affect, the program will be almost a year old.
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

MemberSince99
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Location: WI

Postby MemberSince99 » Fri Jan 18, 2013 9:52 pm

In fact I'm simply not going to use the thing anymore - period, ever. Let them finally close it out and to hell with it, and with them.

Ever try calling them? Good luck getting to a CSR, I held for a couple of hours one time over several calls before I finally got someone. Haven't called them since as I haven't had to fortunately. I just thought of how hard it will even be if someone wants to cancel - be sure to budget a few hours of time just to get a human being.

And any fanboi who wants to toot their horn (figuratively or literally) be my guest - I choose to do business with other lenders. They don't have (and shouldn't have) patience with me if I don't pay, so why should I be any different? Don't suit my needs and YOU'RE gone too and someone else gets the swipe fees. Won't break my heart whichever vulture organization gets it. I see the fanbois on FICO who live to worship their pretty plastic cards and the companies who issue them, the sort who if these companies were engaging in infanticide would be justifying it on some bizarre basis, and I think hey drink the Kool-Aid buddy, but miss a payment and see how great of friends they are!

MemberSince99
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Postby MemberSince99 » Fri Jan 18, 2013 9:58 pm

Like I said, you're more than welcome to mine, I won't be using it. If they'd go for it, I'd happily give it to you, probably even if I still am stuck with the inquiry.

And in terms of the categories too many of them were useless to begin with. Seriously how many people can use the 5% on rental cars? If you can, you're wasting money unless you're ALWAYS flying off somewhere. And fast food, do the math, do you know how much you would have to spend at McDonald's for example to make that 5% pay? More than you're likely to pay or even should pay unless you wanna die young.

Bill pay was what set it apart. Now, it's just a mediocre rewards card, good to fill niche roles but there are better choices for that anyway.

DavidNY
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Postby DavidNY » Fri Jan 18, 2013 10:06 pm

MemberSince99 wrote:hey I didn't think they would slash the rewards so drastically either so what do I know? Not much apparently.


I got the Discover Open Road card because they were giving 5% back on gas, then they nerfed it to 2%. Now they're back with 5% categories with the More and It cards. Rewards are always changing.

As you say, no need to pull the plug on this unless they start charging fees.

Bksuper
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Location: California

Postby Bksuper » Fri Jan 18, 2013 10:09 pm

I'm sorry your getting so emotional, believe me Im not pro-corporation by any means, and Chase gave me a similar experience as you got in terms of CS, so far I haven't had any problems with US Bank, but I agree that a 3 hour wait time is disrespectful in the extreme. I'm not trying to worship any cards and certainly not any banks, but Im trying to make a case for why this card is still good and US Bank didn't bait and switch anyone. As for the categories, I don't use it for fast food or car rental; I think Dept Stores and Electronic Stores (and phone if I was paying my own rather than on my parents plan) are still good categories and book stores too if I didn't already have a Forward. The point is you can choose. If I didn't have a Forward, I could choose Fast Foof if I ate it, and Im not saying I do often or that its healthy. Other people can choose different things. Bill Pay was an exceptional category, the best they had, but the card isn't garbage without it. And none of the other major banks are better in terms of principles, all of them are about maximizing profits, and if you're going to pick a card solely based on how they treat you, go to a credit union or small bank.
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

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

Postby MemberSince99 » Fri Jan 18, 2013 10:19 pm

Points taken, sorry to get off the emotional deep end there.

Having said that, I'm on the brink of just calling them up (hopefully I can actually get through without hours of waiting) and tell them to close it. The rewards do not justify keeping it any longer in my opinion and based on my other cards. Others may feel differently and have different circumstances. But me, I'm oh so close to just pulling the plug. How many Visa signatures do you need anyway? I've been thinking 3 is too many to begin with, and now I know which will be the first to go, it's just a matter of do I finally just do it and be done with it. I'm strongly leaning towards just closing it and being done with that bank for good. It was in my opinion and circumstances a waste of an inquiry. If I had known they were going to do this, I would NOT have applied for it in the first place.

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

Postby Bksuper » Fri Jan 18, 2013 10:29 pm

What are your costs in keeping it? Theres no AF and if you can get better rewards for certain purchases that before the change were most rewarded by the Cash+, then by all means use the other card for that purchase. It looks like, like for me, your Cash+ is your highest limit card; closing it could increase your DUR and cost you the extra cash back you could make on the (by your account) rare events where it pays more for a purchase than any of your other cards.
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



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