Bad changes coming to US Bank Cash + Card

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silver6054
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Postby silver6054 » Fri Jan 18, 2013 11:02 pm

I think it's really pretty simple to decide if this card is still good for you. Basically it's useful if any of:

a) You can use one or more of the 5% categories and you don't have another 5% or more card for that category
b) You DO have another card, but it's not on the right category on the quarter you need it
c) You spend more than $2K a quarter on that category, and the other card(s) are capped at less on that category

Now I agree that there may not be a sufficient reason to GET the card now, but if you have it, for most people some of the above will apply some of the time. Member Since reaction seems a little extreme, since the card is now worse than it was, tear it into little bits and throw it away! No, find if it has any use (and if it doesn't, by all means rip away!).

I haven't included the once per year "Redeem $100 and get $125" because now I think there is a real chance that many people may not get to $100...


MemberSince99
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Postby MemberSince99 » Fri Jan 18, 2013 11:33 pm

You know, the funny thing is, I'm feeling like I'd like to cut ties with ALL of these organizations. With exception of my own bank, Associated.

The more you think about it, the more it becomes clear credit cards are going to become a liability to we the consumer no matter what. Rewards are getting slashed and done away with and now the greedy merchants will jump on the bandwagon and start charging us fees to swipe the card even though they had that cost built into their pricing in the first place. So even if you never pay these guys a penny in interest, oh you will be paying dearly to use plastic. The only way it's still a convenience is at the gas pump - otherwise I'm cool with going back to checks for groceries and paying online using my bank account. I had only a debit card for years and while I do not plan to use it simply due to the security risk, I kind of miss the simplicity.

Credit cards are just becoming an expense and a liability more and more all the time. It's an idea whose time I think is running out. I don't know what will replace them, but I'm honestly fine with going back to the way I used to do things when my credit was shot and I couldn't get one to save my life. Then I buy less so the greedy merchants lose and so do the banks, but I keep more of my money so I win and that's what it's all about to me.

US Bank will just be the first to go. More will follow. It's not if I close but when. And I'm thinking it will be soon.

Hell these things even destroy your credit - I opened several cards recently and got score drops of 11 points to show for it (FICO). So you even pay in terms of score and that's assuming you pay. If you don't or if they say you don't which to the CRAs is the exact same thing, then you get dinged even more.

I'm becoming tired of this particular game and everyone associated with it. I'd like my bailout tax money back. I know, good luck with that.....but next time, let's let them FAIL as they earned.

MemberSince99
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Postby MemberSince99 » Fri Jan 18, 2013 11:43 pm

I don't mean to offend anyone, I'm just very disappointed I applied for this card which is now pretty much worthless in the first place. They offered a set of rewards that they obviously had no intention of continuing over the long haul and I feel pretty deceived by these people again. But as the saying goes, fool me once shame on you, fool me twice, can't get fooled again....or something like that.

The best response we can give is to deep six the card. If not close, then either don't use until they close, or put a small recurring monthly charge on it, just use it for that (something they can't make money on) and make them wish you'd closed it. That may hurt worse than closing it. And I'm thinking that may be the form of revenge I choose.

But honestly they are all slimebags let's be upfront about that. US Bank might be among the worst but none of them is any better than the average mafioso. They just have more respectability is all. Never think these people are your buddies they aren't - you are just a number to them and that's how much they can make off you and if you are smart you will return the favor in kind.

silver6054
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Postby silver6054 » Sat Jan 19, 2013 12:14 am

MemberSince99 wrote:I don't mean to offend anyone, I'm just very disappointed I applied for this card which is now pretty much worthless in the first place.

The best response we can give is to deep six the card. If not close, then either don't use until they close, or put a small recurring monthly charge on it, just use it for that (something they can't make money on) and make them wish you'd closed it. That may hurt worse than closing it. And I'm thinking that may be the form of revenge I choose.

But honestly they are all slimebags let's be upfront about that. US Bank might be among the worst but none of them is any better than the average mafioso. They just have more respectability is all. Never think these people are your buddies they aren't - you are just a number to them and that's how much they can make off you and if you are smart you will return the favor in kind.


That's certainly one view! However, we disagree in that I don't think the card is worthless now, just greatly reduced in value, just like the BCP before it.

But..., my view is use it to make whatever money you can, rather than deep-sixing it.

I don't think anyone her is saying the bank is your buddy, but you have the opposite attitude. There isn't really any point in "punishing" US Bank, you are a number to them and they should be a number, a potential source of revenue, to you. Doing small recurring charges is pointless, it doesn't gain you anything, and in the scheme of lots of users, doesn't hurt them

Here is a piece of plastic, use it to maximize your gains (using it where appropriate, using something else where that is appropriate)

My lesson from this (and BCP) is simply: When a great credit card comes along, get it early, and use it as much as you can, because it is going to go downhill pretty quickly. Maximize your gains and move on.

cashback
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Postby cashback » Sat Jan 19, 2013 12:20 am

silver6054 wrote:My lesson from this (and BCP) is simply: When a great credit card comes along, get it early, and use it as much as you can, because it is going to go downhill pretty quickly. Maximize your gains and move on.


Couldn't agree more with that!
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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Postby MemberSince99 » Sat Jan 19, 2013 12:43 am

It's not that simple. You may think oh jump on this and milk it while you can, and from the standpoint of profit that's true, however your score will pay a price for it. I can attest to an 11 point drop for inquiries and new accounts.

So even that hurts you. Let's face it the whole game is designed to enrich them and hurt you. If you're smart and lucky, you can do more damage than you take, though that's getting harder to do all the time.

I just question the real value of playing it at all.

When I originally got cards a year ago my primary reason was my scores would not go above the low 750s. Well a year later where do they sit? About where I started. I've gained NOTHING for it in terms of score. I suppose I'm lucky in that regard as it could be worse.

What I did and the way I did it is obviously folly.

I would love to hit the reset button and do it over because I would do things very differently. But you can't, it is what it is now. But you can't just jump on the latest super card without your score paying the price, I've learned that.

And you know worse is the CRAs even than the vultures I mean creditors. They are in bed with these companies and take whatever they say as the word of God. The vultures don't have to give any proof whatsoever they simply have to assert what they said is true and to the scumbag CRAs that is the truth. I've disputed a BS charged off account from 20 years ago that should be long since off my report and the vulture breaks the law (I bet they are real scared to do that...) by asserting the account is valid and the CRA backs them and leaves it. I went to file a complaint with the FTC over it, and I see they are just another puppet of these vulture companies that steal my tax dollars while bitching about welfare, and that the FTC does not handle individual complaints. Basically if enough people complain they might do something.

I even tried getting a NACA attorney and so far no luck. So basically business in the US is free to break the law at will it seems. No wonder they are all evil arrogant mfers. If I tried the stunts they pulled I'd be in a real prison I have little doubt so an example could be made of me, but they are free to do whatever the hell they please. And the American sheeple are brainwashed into thinking they live in paradise. What a farce it all is.

I can't stand it. I wish I'd get deported but I couldn't get that lucky. I hate America and everything it stands for. I don't go kill people or want to, but I hate everything this country stands for, everything. True story.

RewardHop
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Postby RewardHop » Sat Jan 19, 2013 2:24 am

silver6054 wrote:My lesson from this (and BCP) is simply: When a great credit card comes along, get it early, and use it as much as you can, because it is going to go downhill pretty quickly. Maximize your gains and move on.


Yup if you absolutely want to maximize your gains and milk it, thats the way to go.

I still agree with others on here that this is still a good card. Besides Citi Forward, Chase Freedom, Discover It, Citi Dividend, etc don't give you 5% year round on restaurants.

Once I hit $2000 spending on restaurants, I'll get $100 + $25 prepaid card. Thats 6.25%. After that I still get 5% on restaurants. Last week, I opened a US Bank checking account tied to this card with a 25% bonus on points.
(My thought there was since Chase is going to nerf 10+10 on Freedom, I might as well prepare. Plus US Bank waives the fees on checking if you auto pay from the US Bank checking to the US Bank Cash+ card.)
[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]

craigm1
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cash+

Postby craigm1 » Sat Jan 19, 2013 8:59 am

I got the cash+ last August just for the bill pay, also had the restaurants as a category, you can see the list of credit cards in my signature, for a long time i was using the amex to pay all my bills and was using my capital one for the few places that didn't take amex, I upgraded my cap one to a rewards card with a 1% reward and annual half % bonus was using the cap one for all my bills, before the us bank card came.

I have a case for my cell phone that holds 2 credit cards and a drivers license the amex has always been the go to card 5% drug,supermarket, and gas but the us bank cash+ made it to the cell phone case. I never carry a wallet. I just cashed in $300 in rewards and $75 in extra bonus, after this month I will have another $100 rewards i will cash that in so I get addtional $25.

My amex is the original blue cash with no grocery cap, people had to abuse the groceries on the newer cards and get gift cards so they ruined that. My card has a $6500 minimum to get to the 5% categories every year. I'm guessing people who had the amex only used it for groceries and pounded out gift cards. Last year I spent $54k and used the card 1200 times so hopefully I'm safe

The cash+ it looks like business owners were pumping loads of bills through the card to get the 5% bonus ruining a good thing for us all

I will keep the card along with my amex on my at all times and use the cell category, giving me $660 a quarter for 5% cash back and leaving me $1340 a quarter to use for restaurants should be able to max the $425 a year in rewards, I will be putting my bills back on my amex, they haven't screwed with me on rewards and have been very generous with my credit line $30k. If us bank gets rid of the restaurant category then the card will be useless to me what a shame.

The few places that don't take amex seem to be restuarants anyway funny thing I called us bank and they told me that they got rid of bill pay because nobody used it what a joke

craigm
Current Cards: American Express:Grandfathered Blue Cash CL 34k member since 89
Chase Freedom CL 7.5k member since 04
Chase Marriot Rewards Premier CL 20k member since 13
Chase Sapphire Preferred CL 25K member since 13
Bank Americard Cash Rewards Signature Visa CL 14k member since 11
Discover Cashback Bonus $10.5k member since 11
US Bank Cash + Signature Visa 19k member since 12
Citibank Thank You Preffered World Mastercard $16.5k member since 14

DavidNY
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Postby DavidNY » Sat Jan 19, 2013 9:30 am

craigm1 wrote:The cash+ it looks like business owners were pumping loads of bills through the card to get the 5% bonus


If they didn't like it all they had to do was cap the rewards.

FutureBillionaire
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Postby FutureBillionaire » Sat Jan 19, 2013 11:13 am

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.


Isn't the Chase Ink a business card? Don't I have to have a business?
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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