U.S. Bank Cash+ still any good?

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wiivile
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U.S. Bank Cash+ still any good?

Postby wiivile » Mon Nov 18, 2013 12:12 am

I know it's been nerfed to $2,000/quarter spending for 5% cash back ($100/quarter cash back) and one $25 bonus per year, but the U.S. Bank Cash+ still seems to be a great card for 5% cash back on items you spend the most money on.

What other Visa Signature cards are there with no Annual Fee? That alone seems like a good deal for the Visa Signature benefits.
    Chase Sapphire Preferred Visa Signature: 11/2013, $15,000 CL
    Chase Freedom Visa: 11/2009, $4,700 CL
    U.S. Bank Cash+ Visa Signature: 11/2013, $11,200 CL


MemberSince99
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Postby MemberSince99 » Mon Nov 18, 2013 10:10 am

Well, as you know it WAS a whole lot better than it is now. For most people probably the best categories are 5% cell phones (though how much is your cell phone bill really going to be) and restaurants.

For every day spending it's average at best. But they gave me a high limit, my highest when I got it, and an Auto CLI after a couple of months of heavy use and pay in full. It's American customer service as well. So it has its good points. I would not personally go out of my way to get it, but it's honestly not a bad card.

wiivile
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Postby wiivile » Mon Nov 18, 2013 10:17 am

I'm primarily interested in it because of 5% at restaurants, because restaurants make up more than 60% of my spending (getting $400 cash back in restaurants alone per year is nice). But cash back is lame and I'd rather get the CSP and put my restaurant spending on that for awesome travel if I can justify the annual fee.

I've heard bad things about the website - what specifically?
    Chase Sapphire Preferred Visa Signature: 11/2013, $15,000 CL
    Chase Freedom Visa: 11/2009, $4,700 CL
    U.S. Bank Cash+ Visa Signature: 11/2013, $11,200 CL

Sevenfeet
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Postby Sevenfeet » Mon Nov 18, 2013 10:30 am

wiivile wrote:I'm primarily interested in it because of 5% at restaurants, because restaurants make up more than 60% of my spending (getting $400 cash back in restaurants alone per year is nice). But cash back is lame and I'd rather get the CSP for awesome travel if I can justify the annual fee.

I've heard bad things about the website - what specifically?


I've been using it as a restaurant card exclusively for the last six months. It's nice to get 5% cash back and it makes it easy to just pull out one card for these kinds of establishments. But I have a CSP card too these days but I don't think that 2X points on restaurants beats 5% cash back (although you get added benefits for using your points in certain ways at Ultimate Rewards).
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)

wiivile
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Posts: 151
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Location: New York, NY

Postby wiivile » Mon Nov 18, 2013 10:37 am

Sevenfeet wrote:I've been using it as a restaurant card exclusively for the last six months. It's nice to get 5% cash back and it makes it easy to just pull out one card for these kinds of establishments. But I have a CSP card too these days but I don't think that 2X points on restaurants beats 5% cash back (although you get added benefits for using your points in certain ways at Ultimate Rewards).


Basically, I'm not sure if the $400 a year you get from restaurants is enough to beat the 2x UR points you get. UR points are far more valuable than cash back due to travel redemptions.

Also, I can't justify getting a card with an annual fee like the CSP if you're not putting all your spending on it (unless you're putting on the Freedom which can transfer to the CSP). Otherwise you're not getting the points you need to justify the annual fee.
    Chase Sapphire Preferred Visa Signature: 11/2013, $15,000 CL
    Chase Freedom Visa: 11/2009, $4,700 CL
    U.S. Bank Cash+ Visa Signature: 11/2013, $11,200 CL

MemberSince99
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Location: WI

Postby MemberSince99 » Mon Nov 18, 2013 12:11 pm

Heck I'd take cash back over points. But to each their own!

The web site is not the most advanced or nice to look at you'll ever find. It looks like it was probably state of the art 10 years ago but today when you compare it to Discover, Amex, and other prime lenders, it's not in the same league, even Cap One's site is arguably better.

Personally I could go and do what I wanted there, but is it a great experience, no, but it's functional.

wiivile
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Location: New York, NY

Postby wiivile » Mon Nov 18, 2013 12:48 pm

MemberSince99 wrote:Heck I'd take cash back over points. But to each their own!

The web site is not the most advanced or nice to look at you'll ever find. It looks like it was probably state of the art 10 years ago but today when you compare it to Discover, Amex, and other prime lenders, it's not in the same league, even Cap One's site is arguably better.

Personally I could go and do what I wanted there, but is it a great experience, no, but it's functional.


The UR points would be worth more than the $400 cash back due to their redemption values at airline partners. Just wondering, why do you have both the CSP and the Cash+? Shouldn't you put your restaurant spending on the CSP? Why carry a card with that annual fee if you're not going to put that bonus spending on it?
    Chase Sapphire Preferred Visa Signature: 11/2013, $15,000 CL
    Chase Freedom Visa: 11/2009, $4,700 CL
    U.S. Bank Cash+ Visa Signature: 11/2013, $11,200 CL

Sevenfeet
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Postby Sevenfeet » Mon Nov 18, 2013 1:16 pm

wiivile wrote:The UR points would be worth more than the $400 cash back due to their redemption values at airline partners. Just wondering, why do you have both the CSP and the Cash+? Shouldn't you put your restaurant spending on the CSP? Why carry a card with that annual fee if you're not going to put that bonus spending on it?


First, I don't think that CSP is better than US Bank Cash + for restaurants. CSP is doing 2X points on restaurants, which is basically 2 cents on every dollar, or 2%. US Bank is doing 5% on categories capped at $2000 per quarter (still a good deal). Buying travel from Ultimate Rewards gains you a 20% discount on using your points, but you're never going to approach the raw dollars you get from US Bank, not to mention the extra $25 per $100 redeemed, per year.

Now why do I have the CSP? Admittedly I was a little greedy in 2013, "the year of the app". After saying I wasn't going to get a CSP since I thought it was the least beneficial card of all the targets I had, Chase snagged me last May with a 40,000 points offer but only having to use it for $2000 worth of buying in a 3 month period (versus the $3000 most people have to do). Doing $2000 worth of spending is pretty easy for me...accomplished in 2 months from spending largely poached from my Fidelity Amex. And I knew it would be easy to combine those points with the points we already had. So now I have about 67K points to spend between the 40K bonus and years of point accrual on our Chase Freedom card, which I'm going to use for a family Christmas gathering trip.

But late next Spring, I'lll have a decision to make...do I keep the Sapphire Preferred and swallow the $95, or do I downgrade to the Sapphire (no AF) or do I cancel altogether (and just roll my CL into the Freedom card). This was one of the reasons I hadn't planned on app'ing for this card...most of my other cards don't have annual fees save the Amex Platinum in which I pay that for Delta Sky Club membership (mostly).
Cards:

American Express Platinum (NPSL)

Penfed Platinum Reward Visa ($28K)

Chase Freedom Visa ($25K)

Fidelity American Express ($20K)

American Express Blue Cash Preferred ($20K)

Bank of America Cash Rewards MasterCard ($20K)

Citi Thank You Preferred Visa ($9.5K)

Chase Sapphire Preferred ($7.5K)

US Bank Cash + Visa Signature ($7K)

Discover IT ($4K)

wiivile
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Location: New York, NY

Postby wiivile » Mon Nov 18, 2013 1:26 pm

I'm in a similar situation. want to try the CSP for a year for its redemption (have 110k Freedom points) but don't know if the annual fee is worth it. I didn't know that if you didn't want to pay the fee, and cancel the card after the year, you could move the credit line into the Freedom? Is this really possible?
    Chase Sapphire Preferred Visa Signature: 11/2013, $15,000 CL
    Chase Freedom Visa: 11/2009, $4,700 CL
    U.S. Bank Cash+ Visa Signature: 11/2013, $11,200 CL

MemberSince99
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Postby MemberSince99 » Mon Nov 18, 2013 1:50 pm

Yes, minus like 500 bucks I've read. But they will move CL around on cards (Chase).

And I got mine for a few reasons - I wanted to try to get back in with Chase, I liked the metal card (cool factor, dumb reason but I'm being honest) and I wanted a travel card, and the 400 dollar spend bonus didn't hurt matters.

I'm on the fence as to whether all things considered it's a long term keeper. I have a while before the annual fee to think about it.



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