Anyone have the U.S. Bank Cash+?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
7 posts
Kevin86475391
Centurion Member
Centurion Member
 
Posts: 241
Joined: Wed Feb 18, 2015 9:04 pm
Location: Texas

Anyone have the U.S. Bank Cash+?

Postby Kevin86475391 » Sat Sep 26, 2015 12:06 am

I have an old, rather useless US Bank card: the 1-2-3 Rewards Card for Kroger stores. I got it years ago without doing enough research. It offers 3 points on purchases of Kroger brand items, 2 points for any Kroger spending, 1 point for non-Kroger spending. BUT it only provides $5 back per 1,000 points, which is sort of the 'catch' I didn't realize when I applied. I expected $10 per 1,000 points, which in effect would have made it 3%, 2%, and 1%, but as is it's effectively 1.5%, 1%, and .5% - LAME, but my fault for not realizing before I got it.

I don't use it at all since my other cards all offer better rewards with fewer restrictions. I've thought about closing it, but it's not a big deal for me to login once a week to monitor it for fraudulent charges and there's no AF, so I've just left it open.

Anyway, I thought perhaps I could get some use out of it if I PC-d it into something else. I checked the US Bank website recently to see if there were any more appealing options, and the U.S. Bank Cash+ sounds good:

From the website:
Cash+ Visa Signature Card Benefits
-5% cash back on your first $2,000 in combined net purchases each quarter on two categories you choose.
-2% cash back on your choice of one everyday category (like gas or groceries).
-1% cash back on everything else.
-No limit on total cash back earned.
-0% Introductory APR* for the first 9 billing cycles on any balances transferred within 30 days from account opening. After that, a variable APR, currently 12.99%-23.99% based on your creditworthiness.
-No Annual Fee.

I love the concept of choosing my categories. That makes it sound like a more flexible Discover It or Chase Freedom. The categories don't seem as good though, but the 2% on restaurants is appealing to me since when the It and Freedom aren't featuring 5% on restaurants, the 2% would match my Citi Double Cash in usefulness - and of course obviously I could just keep using the Double Cash instead and be no worse off, but I'd be happy to throw a little spend at US Bank occasionally if the rewards were comparable and I could turn my useless card into something better.

However, mostly I'm really curious why I've literally never heard of this card. Has anyone had any experiences with it? Or even heard of it? I've also had very little interaction with US Bank (since I don't use the card I have from them). Does anyone know if they would be inclined to do a PC? I wouldn't be at all interested in applying for it as a new card because I don't need/want a new card, and even if I did...it still wouldn't be this one. It just looks like it's better than my useless card, so appealing for a PC.


Whatamuji
Centurion Member
Centurion Member
 
Posts: 283
Joined: Wed May 27, 2015 10:08 pm
Location: Houston, TX

Re: Anyone have the U.S. Bank Cash+?

Postby Whatamuji » Sat Sep 26, 2015 3:24 am

Not sure if you can PC a store branded card. And I've heard of this card and was considering it too. However people have said on here before as I'm sure someone can elaborate more fully on this subject than I that the card has been nerfed constantly and consistently throughout the last couple of years.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, Chase Freedom Unlimited: 3.2k, AMEX HHonors 5k

kdm31091
Centurion Member
Centurion Member
 
Posts: 1070
Joined: Sat Feb 21, 2015 3:35 pm
Location: Claymont, DE

Re: Anyone have the U.S. Bank Cash+?

Postby kdm31091 » Sat Sep 26, 2015 7:01 am

I have it. I like it.

The categories are not bad for 5%. Choices include cell phone bill, gym membership, sporting goods, bookstores, furniture, fast food, movies...nothing that most people spend a ton on every day, per se, but still useful and at least you can change them up quarterly.

I also opted for 2% restaurants. Same thing as Double Cash, yes, but you get the 2% right away. I'm waiting til I get to $100 in rewards because when you do, you get a $25 bonus so your rewards become $125 (note: you can only get that bonus one time).

So for me, 2% restaurants, 5% fast food ,5% furniture/IKEA is what I did for Q4. In Q1 of 2015, I will change the IKEA category to bookstores (which I'm assuming would work on amazon, but no guarantee). Either way, I like shopping at the actual bookstore, so it's not a bad category. Also, you can redeem any amount for a statement credit, no silly minimums or anything.

I understand people bemoan the nerfing, but the reality is that most cards get worse, not better, over time. Cash+ started off too strongly with unrealistic, broad 5% categories that had NO CAP, such as bill pay, airfare, hotels, home improvement, restaurants (they were 5%), etc. Unfortunately, instead of imposing the cap and leaving the "good" categories alone, US Bank chose to do both. They capped the rewards (which should have been done originally) and removed several categories. However, it's still useful, and to be fair, there are no cards that give 5% on airfare, bill pay, hotels, home improvement, etc so it's not like there's a better option.

Had US Bank started the card off a bit more "weakly", with a cap and just one or two very broad 5% categories, it probably wouldn't have had to have been nerfed as much as it was. Nevertheless, still a decent, respectable option. Not as great as it used to be, no, but again, what card really is? Even the much beloved Sallie Mae mastercard application was recently pulled from their website, indicating it may be gone. Things change with cards, it's just how it is.

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 4378
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Anyone have the U.S. Bank Cash+?

Postby CarefulBuilder14 » Sat Sep 26, 2015 10:42 am

It was on my "eventually get" list for a while, even after it had been somewhat nerfed. I don't have much interest in it now, since most of the 5% stuff it covers I either don't spend much on, or can get 5%+ off on through some other card's portal or promotion.

Definitely a great card at one time.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

Kevin86475391
Centurion Member
Centurion Member
 
Posts: 241
Joined: Wed Feb 18, 2015 9:04 pm
Location: Texas

Re: Anyone have the U.S. Bank Cash+?

Postby Kevin86475391 » Sat Sep 26, 2015 4:07 pm

Thanks for the info everyone! I'll update if I decide to ask for the PC.

takeshi
Centurion Member
Centurion Member
 
Posts: 1741
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Re: Anyone have the U.S. Bank Cash+?

Postby takeshi » Mon Sep 28, 2015 11:35 am

Kevin86475391 wrote:However, mostly I'm really curious why I've literally never heard of this card.

It's not as commonly discussed but it is discussed. Don't overlook prior discussions. If search isn't working for you then try a site restricted Google search.
https://www.google.com/webhp?sourceid=c ... dforum.com

Kevin86475391 wrote:Has anyone had any experiences with it?

Like the older threads indicate, I used it quite a bit when restaurants were a 5% category but US Bank seems to like to nerf to rewards program on this card. I would use it for Amazon but Discover is 5% this quarter and next quarter and I'm signed up for the Double Cash Back offer. On top of that I currently have a 0% balance parked on the cash+.

Kevin86475391
Centurion Member
Centurion Member
 
Posts: 241
Joined: Wed Feb 18, 2015 9:04 pm
Location: Texas

Re: Anyone have the U.S. Bank Cash+?

Postby Kevin86475391 » Sat Oct 10, 2015 12:24 am

takeshi wrote:It's not as commonly discussed but it is discussed. Don't overlook prior discussions. If search isn't working for you then try a site restricted Google search.
https://www.google.com/webhp?sourceid=c ... dforum.com


Thanks for the info. I had tried to search using the regular forum search but hadn't come up with anything. The site restricted Google search worked much better. I did get some very interesting info from the old threads.

Anyway, I just hung up with them. One thing US Bank really has going for it IMO is good customer service. They were unable to PC the card, but the lady was very pleasant and offered me both an APR reduction and 2,000 bonus points. Since I PIF - and seldom use the card anyway - I happily took the bonus points. Granted with the .5% return rate that only comes to $10, but I figured the PC was a long shot anyway and I wouldn't have been especially disappointed if they couldn't do anything at all, so nifty, I'll go to Starbucks on them this weekend :ppp



Return to “Visa & MasterCard”

Who is online

Users browsing this forum: No registered users and 3 guests