BE WARNED! US Bank Cash Plus card rewards redemption

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craigm1
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BE WARNED! US Bank Cash Plus card rewards redemption

Postby craigm1 » Sat Feb 09, 2013 9:50 am

I redeemed $300 in cash back towards reward card last month, thinking I did this in $100 increments so I would get $75 as a bonus back, I already got the $300 gift card and I get my bill and it says only $25 is coming.

so I call us bank and they tell me I had to redeem $100 individually, I said the program is so sketchy I would have definitely done that if i knew that''s what I had to do to get the extra $50 in rewards cards, she puts me on hold for 5 minutes to see if she can do anything and comes back and says a supervisor will call me back, I said when can I expect a call back she said in 24 hours.

I asked her if she was aware of the changes to the card coming up and when you would only be able to redeem for a $25 extra reward in one year time frame she said she didn't know anything about that or about the quarterly cap or categories being changed, she said this is a new card and she is not up to date.

What a joke I told her I have had amex since 89 and they would have just issued me a credit on the spot and she said sorry and couldn't wait to get off the phone. This is the difference amex will bend over to accommodate you they have for me for years.

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


FutureBillionaire
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Postby FutureBillionaire » Sat Feb 09, 2013 10:54 am

Shoot. I probably should have only redeemed right at 20 bucks. They kinda stink.
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

cashback
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Postby cashback » Sat Feb 09, 2013 1:36 pm

I thought it was pretty clear that it needed to be seperate $100 redemptions in order to get $25 with each. I believe what I read went something like "Redemptions of $100 or more qualify for a $25 bonus."

But it doesn't matter now since they got rid of the multiple $25 bonuses.
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 Feb 09, 2013 1:52 pm

I'd be shocked if you get that extra 50 bucks. Technically I do remember reading ti had to be 100 dollars (or more) in one redemption to get the extra 25 bucks. They count on most people not reading the terms or the small print. Most people don't realize that by using the card, you've accepted that you are subject to binding arbitration if you have a dispute with them. Why is that significant? Because the arbiters they get are in their pocket and dependent upon them for selection, and who do you think they are gonna pick? If you guessed the ones that mostly rule in their favor, you'd be correct!

Anyway that's another story, but they have you by the nads and it is their job and their honor to squeeze until they get as much cash as possible out of you. Just the way it is.

Sorry you learned the terms and conditions in that way.

RewardHop
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Postby RewardHop » Sat Feb 09, 2013 2:00 pm

I agree with the others, its unfortunate but the terms say $25 on a redemption of $100 or more.
US Bank has no reason to bend over backwards for you on this since this is just a bonus reward you are getting on top of your $100 in rewards.
[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]

nishant
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Postby nishant » Sat Feb 09, 2013 3:19 pm

I redeem my US bank the day when rewards reach $100. I request statement credit but the bonus $25 comes as a prepaid visa which takes couple of weeks

MemberSince99
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Postby MemberSince99 » Sat Feb 09, 2013 4:56 pm

And by the way, there is another angle you might argue here - after all, if he had redeemed the rewards 3 times in the amount of 100 dollars each wouldn't he have gotten the bonus? Yes he would have, so long as the new terms don't apply yet which makes it only once a year, so you MIGHT argue that's a petty thing to do. Perhaps, but again, in the end, it's all about $$$ for these guys. They aren't your buddies, they are your vultures I mean creditors. And US Bank's execs are not going to be getting many bonuses for how profitable this card has been to them I would guess, unless they somehow finagle a taxpayer sponsored one, which in this environment is very unlikely. So, yeah I agree it's petty, but I would guess they just don't care, it's about the $$$. I think a person would win the moral argument in this case, perhaps but I doubt you'll see that money.

silver6054
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Postby silver6054 » Sat Feb 09, 2013 9:27 pm

Yes, if everyone redeemed only in $100 chunks, it would be more expensive processing wise for them, so they would then probably be more willing to change it to $25 per $100, so redeeming $300 would give you $75. But if enough people do it "wrongly", as the OP did, that's great for US Bank, they get the single redemption, reducing processing, and only have to pay $25.

But academic now for most people, just one bonus per year. (And who knows how long that will last!)

craigm1
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Postby craigm1 » Sat Feb 09, 2013 10:03 pm

The rep from us bank called me back and they wanted to offer me nothing, finally I said I spend like 60k a year on amex and they would have made the situation right and credited me the missing rewards, finally she said she would meet me half way and credit me $25 in rewards and then I complained about the caps on the rewards and she says everyone is capping now, so I said my amex blue cash 5% gas,drugs,and groceries has no cap and she didn't have much to say. In the end pick the one card that is doing the most for you and put most of your charges through there card. For me that is AMEX

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

RewardHop
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Postby RewardHop » Sat Feb 09, 2013 10:51 pm

craigm1 wrote:The rep from us bank called me back and they wanted to offer me nothing, finally I said I spend like 60k a year on amex and they would have made the situation right and credited me the missing rewards, finally she said she would meet me half way and credit me $25 in rewards and then I complained about the caps on the rewards and she says everyone is capping now, so I said my amex blue cash 5% gas,drugs,and groceries has no cap and she didn't have much to say. In the end pick the one card that is doing the most for you and put most of your charges through there card. For me that is AMEX

craigm1


Do you spend 60k a year (or the equivalent monthly amount) on Cash+? I think they would likely take that into consideration.

Isn't BCE 3% and BCP 6%? and now capped to $6k a year?
[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]



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