Bad changes coming to US Bank Cash + Card

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Members share tips and tricks for getting the most miles, & points.
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FutureBillionaire
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Postby FutureBillionaire » Sat Jan 19, 2013 12:29 pm

cashback wrote:I think I might get my Simplicity changed over to a Forward once I get it paid off (0% APR). Can you apply it to student loans not in your name? I don't have student loans, but my wife does.


I'm not sure about that. I will have to research that.
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


silver6054
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Postby silver6054 » Sat Jan 19, 2013 2:15 pm

FutureBillionaire wrote:Yes, I get the 5x points at Amazon. Some gift cards are 1 to 1, many are not. Also, you can get them applied to mortgages and student loans. I'm probably going to choose that option in the future.

Yes, it's a more complex redemption program than many others, with redemption rate depending on the category and the card.

With an additional card, such as the ThankYou Preferred, all points earned on the Forward can be combined and redeemed 1:1.
With just the forward, redemption is often less, but Student Loan and Mortgage are always 1:1. You call and they send to you a check made out to the financial institution (and it is your responsibility to send to the financial institution). For that reason, I would think the loan can be in anyone's name, they ask for the name and address of the institution, not the loan number for example!

Also, $100 gift cards seem to cost 10,000 (1:1) but many vendors seem to have a max of $50 gift cards, which cost 6,000 points.


So, at least without an additional card, the program is a little inconvenient compared to say statement credit, but it does give 5x on all restaurants (unlike Cash Plus, no separate Fast Food category), Amazon, and all bookstores/music/movies. Not the wow of the initial Cash Plus, but really not bad.

FutureBillionaire
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Postby FutureBillionaire » Sat Jan 19, 2013 2:44 pm

silver6054 wrote:Yes, it's a more complex redemption program than many others, with redemption rate depending on the category and the card.

With an additional card, such as the ThankYou Preferred, all points earned on the Forward can be combined and redeemed 1:1.
With just the forward, redemption is often less, but Student Loan and Mortgage are always 1:1. You call and they send to you a check made out to the financial institution (and it is your responsibility to send to the financial institution). For that reason, I would think the loan can be in anyone's name, they ask for the name and address of the institution, not the loan number for example!

Also, $100 gift cards seem to cost 10,000 (1:1) but many vendors seem to have a max of $50 gift cards, which cost 6,000 points.


So, at least without an additional card, the program is a little inconvenient compared to say statement credit, but it does give 5x on all restaurants (unlike Cash Plus, no separate Fast Food category), Amazon, and all bookstores/music/movies. Not the wow of the initial Cash Plus, but really not bad.


Great analysis here. I redeemed my first 10k points for a Macys gift card that I haven't used. I'm probably going to start paying down the principal on my student loans and my mortgage.
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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Postby RewardHop » Sat Jan 19, 2013 3:04 pm

silver6054 wrote:With an additional card, such as the ThankYou Preferred, all points earned on the Forward can be combined and redeemed 1:1.

So, at least without an additional card, the program is a little inconvenient compared to say statement credit, but it does give 5x on all restaurants (unlike Cash Plus, no separate Fast Food category), Amazon, and all bookstores/music/movies. Not the wow of the initial Cash Plus, but really not bad.


So ThankYou points for statement credit are 1:1?
[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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amazon category

Postby craigm1 » Sat Jan 19, 2013 3:06 pm

just got my amex end of the year statement and it looks like amazon is not considered a book store, its actually considered a dept store. has anybody used that category and ordered from amazon?????????


craigm1
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

cashback
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Postby cashback » Sat Jan 19, 2013 3:26 pm

FutureBillionaire wrote:Great analysis here. I redeemed my first 10k points for a Macys gift card that I haven't used. I'm probably going to start paying down the principal on my student loans and my mortgage.


If I can pay down student loans or my mortgage with it, then it's just as good as cash back or statement credit to me.
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

silver6054
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Location: boston

Postby silver6054 » Sat Jan 19, 2013 4:21 pm

RewardHop wrote:So ThankYou points for statement credit are 1:1?


NO! That is why I said "inconvenient compared to say statement credit". WIth the Forward it is much lower, so this is an option that shouldn't be used.

silver6054
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Location: boston

Postby silver6054 » Sat Jan 19, 2013 4:39 pm

craigm1 wrote:just got my amex end of the year statement and it looks like amazon is not considered a book store, its actually considered a dept store. has anybody used that category and ordered from amazon?????????


craigm1


Amex doesn't use the Visa/MC MCC codes and so determines the category themselves. Forward shows amazon as a book store. There were lots of threads last year when Nerdwallet said this was changing, a statement they later retracted

RewardHop
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Postby RewardHop » Sat Jan 19, 2013 8:00 pm

silver6054 wrote:NO! That is why I said "inconvenient compared to say statement credit". WIth the Forward it is much lower, so this is an option that shouldn't be used.


Sorry, I meant that if I get a Citi ThankYou preferred card and transfer the points from the Forward to the ThankYou card and then redeem for a statement credit on the ThankYou preferred card, is that 1:1?
[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]

FutureBillionaire
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Posts: 1590
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Location: Down South

Postby FutureBillionaire » Sat Jan 19, 2013 8:07 pm

craigm1 wrote:just got my amex end of the year statement and it looks like amazon is not considered a book store, its actually considered a dept store. has anybody used that category and ordered from amazon?????????


craigm1


Can anyone confirm this?
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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