US Bank Cash+

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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im_mr_awesome
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US Bank Cash+

Postby im_mr_awesome » Sat Jun 01, 2013 10:15 pm

I was looking at replacing one of my Cap1 cards with a card that will grow with me. I thought maybe the Cash+ if they have a decent 5% program. I want a card that will grow with me and I can use when not reaping the Discover 5% categories.

Anyone on the forum have one of these? If so, what are the terms for your account, credit limit, and would you suggest the card? My scores are a little dinged up right now so I won't app for anything until December at the earliest.
Scores on the mend...
FICO: 650 (Discover/TU, 6/23/2016)
Cards I Use Citi Double Cash, Chase Amazon, Capital One QuickSilver
Sock Drawer Discover IT, Citi Diamond Preferred, AE Visa, QuickSilver One, Walmart CC, CareCredit, CreditOne (keeping for history for now)
Short Goal Reach 680


Bksuper
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Postby Bksuper » Sun Jun 02, 2013 3:12 am

I do have one and I would recommend it. You get to choose 2 categories every quarter rather than just take what the bank gives, and it will reward you with 5% back on the first $2k per quarter in those categories with easy to redeem reward dollars (not adjustable points) which can be redeemed for statement credit without a minimum. If you choose to wait to redeem until you can redeem at least $100 reward dollars, one time per calendar year you are eligible to get a $25 bonus by doing so. You also get an unlimited 1% back after you hit the cap and in all other categories and an unlimited 2% back in your choice of groceries, gas, or drug stores. It is also automatically a visa signature, which has perks like roadside assistance, concierge service, reserved tickets and tables, complimentary doubling of manufacturer's warranty for items purchased, and complimentary 90 day theft/loss/accidental damage insurance on items purchased. As far as limits, YMMV, but as a visa signature card they will give you an initial limit of at least $5k. I applied jointly with my mom and got approved for $13.5k, but she has decades of history, excellent score, and very high income. If the scores and limits in your sig are up to date, you may have a hard time getting approved on your own as is, although you only risk a HP by trying and it has gotten a little easier since they capped the rewards and eliminated bill pay as a category. Please also note that US Bank has significantly better customer service and is much better about credit limit increases than Cap1, although you would still wait 6 months to apply for a CLI.
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012

MemberSince99
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Postby MemberSince99 » Sun Jun 02, 2013 7:30 am

I had one but closed it when they nerfed the rewards (losing the 5% billpay made it almost useless in terms of rewards for me). It was obvious to me they really prefer people not have this card, so I did them the favor of me not having it.

I had a 14.99 % rate, started with a 12k limit auto cli to 14k two months later (closed it after 7 months) and I would NOT suggest you waste an inquiry with dinged up credit this is a very hard card to get. US Bank is VERY fussy - I applied for their travel rewards card and they declined me for inquiries even though I only had 2 in the previous 6 months on the report they pulled. If you have dinged up credit, seriously do yourself a favor and forget this one until your credit is better.

TheLethargicAge
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Postby TheLethargicAge » Sun Jun 02, 2013 10:19 am

MemberSince99 wrote:I had a 14.99 % rate, started with a 12k limit auto cli to 14k two months later (closed it after 7 months) and I would NOT suggest you waste an inquiry with dinged up credit this is a very hard card to get. US Bank is VERY fussy - I applied for their travel rewards card and they declined me for inquiries even though I only had 2 in the previous 6 months on the report they pulled. If you have dinged up credit, seriously do yourself a favor and forget this one until your credit is better.


That's 2x the CL and half the interest rate I got...and you still closed it, yet you kept the FNBO "fake" Amex that has roughly the same limit but a fraction of the rewards? I don't get it.
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)

MemberSince99
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Postby MemberSince99 » Sun Jun 02, 2013 12:06 pm

The FNBO Amex fits my spending far better than the Cash + after the changes. They are doing everything they can to that card to nerf the rewards, and you can't even apply on their site for it without digging because frankly they really don't want people having it. And it's not like it's some prize at this point anyway.

I understand making minor adjustments to your rewards, but to totally slash them pretty much made me feel like a chump who wasted a hard pull on a card that would be great for paying my cellphone with.

I just had no real further use for it and no place for it in my wallet anymore. I just got the FNBO card. They gave me a nice limit, the rewards fit my spending far better than the current Cash + does, and FNBO wants my business. Works for me.

im_mr_awesome
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Postby im_mr_awesome » Sun Jun 02, 2013 4:33 pm

The scores and limits are close to up to date. I know they're under 650 right now but I have several new cards, a new car, and high utilization. I just recently started a new job so my utilization will go down quickly. I refuse to apply for another card until my score is above 700. If I apply for this card, I'll be using it for gas, mostly. I drive a lot for work.

I was just curious if anyone thought it was decent. I'll try to get some CLIs on my Citi and Discover cards before applying, and lower utilization, of course.
Scores on the mend...
FICO: 650 (Discover/TU, 6/23/2016)
Cards I Use Citi Double Cash, Chase Amazon, Capital One QuickSilver
Sock Drawer Discover IT, Citi Diamond Preferred, AE Visa, QuickSilver One, Walmart CC, CareCredit, CreditOne (keeping for history for now)
Short Goal Reach 680

Bksuper
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Location: California

Postby Bksuper » Sun Jun 02, 2013 4:38 pm

Fair enough. It IS a good card, and you would get at least a $5k limit if approved. Your chances of approval are probably low right now, but it is easier than it used to be to get the card, and once your newest card/inquiry ages to 6 months and your utilization goes down you should have a decent shot. If you choose to go for CLIs on Citi and Discover first, wait to apply for Cash+ until those inquiries are at least 6 months old as well.

Also, I disagree with the assertion that US Bank does not want people to have this card. They may market it less or to a narrower range of people for whom the program is profitable to them, but if they really wanted nobody to have it, they would have just discontinued it.
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012

im_mr_awesome
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Location: Indianapolis, IN

Postby im_mr_awesome » Sun Jun 02, 2013 6:41 pm

I will be asking for soft pulls only. I don't think that will be a problem with Discover, and it's exactly why I won't be asking for limit increases anytime soon with Chase. The only way Chase is hard pulling for me is a Freedom card, which I'm considering as an alternative to the Cash+. I'd prefer the Cash+, as I already get 5% in rotating categories with my IT card.

My CLI calendar is showing October and November as my months to ask for increases. If I can get >$500 increases with soft pulls, I will. If I can hit an average of ~$2000 CL or more with good util, I don't see why I'd be denied.
Scores on the mend...
FICO: 650 (Discover/TU, 6/23/2016)
Cards I Use Citi Double Cash, Chase Amazon, Capital One QuickSilver
Sock Drawer Discover IT, Citi Diamond Preferred, AE Visa, QuickSilver One, Walmart CC, CareCredit, CreditOne (keeping for history for now)
Short Goal Reach 680



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