US Bank CASH+ 5% Back on Restaurants Changed to 2%

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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solomon
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Postby solomon » Wed Dec 10, 2014 6:05 am

I saw this card. I wonder whether it's only 5% gas at Sams pumps, though.

popamode72 wrote:Speaking of Synchrony cards, the Sam's Club MC also comes with 3% cashback on restaurants and 5% on gas (for this category though, only the first 6000 dollars you spend for the year will be covered). Whatever you've earned from that they will send you a check in the mail.
MC Citi Dividends WE - CLI 2/7/17
V US Bank Cash+ - CLI 2/7/17
V US Bank Platinum - CLI 12/24/14
AXP Blue Cash Everyday - CLI 2/7/17
MC Sam's Club - 03/04/15
DFS It - CLI 2/7/17
V Chase Freedom - CLI 2/7/17
CSP - CLI 2/7/17
C Slate - 06/02/16
BAC Cash Rewards - 10/7/16


solomon
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Postby solomon » Wed Dec 10, 2014 6:08 am

Quote Originally Posted by solomon View Post
it's just a gimmick when you could save lots more money either by just not using it or paying cash.

lobbythis wrote:That makes no sense.


It does make sense...

Say your meal is $10

Okay, are you going to save more money by 5% cash back at .50 cents cash back?

Or are you going to save more money by not purchasing the Coca-Cola for $1.95?

These 5% cash backs are incentives to get you to buy more to 'earn' more. But in actuality, you save more just by not spending it.
MC Citi Dividends WE - CLI 2/7/17
V US Bank Cash+ - CLI 2/7/17
V US Bank Platinum - CLI 12/24/14
AXP Blue Cash Everyday - CLI 2/7/17
MC Sam's Club - 03/04/15
DFS It - CLI 2/7/17
V Chase Freedom - CLI 2/7/17
CSP - CLI 2/7/17
C Slate - 06/02/16
BAC Cash Rewards - 10/7/16

solomon
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Posts: 94
Joined: Sat Aug 17, 2013 6:31 pm
Location: USA

Postby solomon » Wed Dec 10, 2014 6:13 am

popamode72 wrote:Speaking of Synchrony cards, the Sam's Club MC also comes with 3% cashback on restaurants and 5% on gas (for this category though, only the first 6000 dollars you spend for the year will be covered). Whatever you've earned from that they will send you a check in the mail.


@popamode72 I just checked and it's 5% cash back at Sam's pumps, which is still great but for me to travel out of the way to the nearest Sam's Club just to pump gas would probably be $1.50 already, assuming that it's 10 miles away and gas is at $3.00/gallon and my car averages 20 miles/gallon. Saving 5% cash back on I'd have to buy $30 worth of gas to breakeven.
MC Citi Dividends WE - CLI 2/7/17
V US Bank Cash+ - CLI 2/7/17
V US Bank Platinum - CLI 12/24/14
AXP Blue Cash Everyday - CLI 2/7/17
MC Sam's Club - 03/04/15
DFS It - CLI 2/7/17
V Chase Freedom - CLI 2/7/17
CSP - CLI 2/7/17
C Slate - 06/02/16
BAC Cash Rewards - 10/7/16

solomon
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Posts: 94
Joined: Sat Aug 17, 2013 6:31 pm
Location: USA

Postby solomon » Wed Dec 10, 2014 6:16 am

jeffysdad01 wrote:Charge everything and get the points/cashback. Cash is for losers.


I am a money magnet and I accept cash and credit.
MC Citi Dividends WE - CLI 2/7/17
V US Bank Cash+ - CLI 2/7/17
V US Bank Platinum - CLI 12/24/14
AXP Blue Cash Everyday - CLI 2/7/17
MC Sam's Club - 03/04/15
DFS It - CLI 2/7/17
V Chase Freedom - CLI 2/7/17
CSP - CLI 2/7/17
C Slate - 06/02/16
BAC Cash Rewards - 10/7/16

jeffysdad01
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Postby jeffysdad01 » Wed Dec 10, 2014 6:38 am

solomon wrote:It does make sense...

Say your meal is $10

Okay, are you going to save more money by 5% cash back at .50 cents cash back?

Or are you going to save more money by not purchasing the Coca-Cola for $1.95?

These 5% cash backs are incentives to get you to buy more to 'earn' more. But in actuality, you save more just by not spending it.


Don't buy the soda AND charge it. I haven't bought soda in years because it's a ripoff in restaurants and it's bad for you anyway.

takeshi
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Postby takeshi » Wed Dec 10, 2014 8:48 am

solomon wrote:I ask shouldn't fast food be considered restaurants, anyways?

Not if they're not coded the same. It's the creditors that determine "should". I mean, if "should" is up to us then why would I aim so low? I'd make it all 5% with no limits. Heck, why stop at 5%?

Thing is that 5% is the equivalent of a loss leader in the credit card world so, yes, it will tend to come along with caps and other restrictions via fine print. If you want to play the game then you have to be willing to play and can't assume that a 5% offer will be around forever or have terms that are in your favor.

solomon wrote:These cash back ideas are cool and a privilege, but if you really think about it, it's just a gimmick when you could save lots more money either by just not using it or paying cash.

All depends on the details. A lot of merchants don't offer different pricing for cash. Cash doesn't have the protections that credit cards offer. YMMV but cash wouldn't be saving me "lots more money". I can't account for cash expenditures whereas I can account for every transaction with credit. Most of my shopping is online anyway so cash is a nonstarter for me.

One could "save lots" either way. It's up to the individual to determine which approach makes more sense for that person. You can't just assume that your "cash is king" approach is a universal solution just because it works for you.

solomon wrote:These 5% cash backs are incentives to get you to buy more to 'earn' more. But in actuality, you save more just by not spending it.

Cash and not spending are not the same thing. That's why it doesn't make sense. You're assuming them to be the same. Not spending works with both cash and credit.

Yes, people do tend to spend more with cash back offers but you can't assume that everyone does because of the tendency of others. Again, you're assuming something to be universal where it's not. All rewards do for me is determine which card I pull.

solomon
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Postby solomon » Thu Dec 11, 2014 2:11 pm

@takeshi Thank you for your response. This answer is on the save wavelength as my question. There are articles though that we are less likely to use our cash than we are at a swipe of a credit card. And also that we are less likely to use a new crisp $100 bill than 100 wrinkled singles, but I feel with credit cards it so easy just to swipe that sometimes some people do it without thought.

takeshi wrote:
All depends on the details. A lot of merchants don't offer different pricing for cash. Cash doesn't have the protections that credit cards offer. YMMV but cash wouldn't be saving me "lots more money". I can't account for cash expenditures whereas I can account for every transaction with credit. Most of my shopping is online anyway so cash is a nonstarter for me.

One could "save lots" either way. It's up to the individual to determine which approach makes more sense for that person. You can't just assume that your "cash is king" approach is a universal solution just because it works for you.


Cash and not spending are not the same thing. That's why it doesn't make sense. You're assuming them to be the same. Not spending works with both cash and credit.

Yes, people do tend to spend more with cash back offers but you can't assume that everyone does because of the tendency of others. Again, you're assuming something to be universal where it's not. All rewards do for me is determine which card I pull.
MC Citi Dividends WE - CLI 2/7/17
V US Bank Cash+ - CLI 2/7/17
V US Bank Platinum - CLI 12/24/14
AXP Blue Cash Everyday - CLI 2/7/17
MC Sam's Club - 03/04/15
DFS It - CLI 2/7/17
V Chase Freedom - CLI 2/7/17
CSP - CLI 2/7/17
C Slate - 06/02/16
BAC Cash Rewards - 10/7/16

solomon
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Posts: 94
Joined: Sat Aug 17, 2013 6:31 pm
Location: USA

Postby solomon » Sat Dec 27, 2014 4:20 pm

I ended up applying for the AMEX Blue Cash Everyday, I know it's only 3% back, and not the 6% at grocery stores, but now I can shift my categories around for my Cash+ Visa Card.

Visa Cash+: 2% Restaurants, 5% Fast Food, 5% Movies - I don't ever eat fast food, though, so that's a null 'date night' card

AMEX Blue Everyday: 3% Groceries, and 2% Gas Stations. - 3% at Groceries is better than just 1%. 6% for the Preferred card would be super, but the $75 pisses me off. I'd have to buy $1,250 in groceries in a year to break even to the $75 Annual Fee.

$1,250 assumes that I pay $104/month for groceries, which I don't.
MC Citi Dividends WE - CLI 2/7/17
V US Bank Cash+ - CLI 2/7/17
V US Bank Platinum - CLI 12/24/14
AXP Blue Cash Everyday - CLI 2/7/17
MC Sam's Club - 03/04/15
DFS It - CLI 2/7/17
V Chase Freedom - CLI 2/7/17
CSP - CLI 2/7/17
C Slate - 06/02/16
BAC Cash Rewards - 10/7/16



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