I read that U.S. Bank allegedly sold off the Stratus credit card in 2006 and even though they still issue the cards, the portfolio of cardmembers is owned by someone else. This allegedly means US Bank may do the billing, but the marketing and rewards for Stratus are all done by some other mysterious company we know nothing about.
The annual fee is withdrawn from your checking account electronically and the company pulling the money is listed as some other corporation instead of US Bank. The official website for the card appears to have not been updated for over 3 years.
Also Stratus Rewards (which is the name of the company that apparently owns/operates the cards) got an "F" rating from the Better Business Bureau:Company Report
Talk is they have tried to re-vamp their rewards program by offering high-end luxury cards for reward points. But if it's only 1% in rewards what's the point of that because just about any credit card gives that type of rewards. You might as well use your free credit cards and use the cashback to buy cars, clothes, chartered jets, or whatever else it is that your income allows.
This all sounds pretty sketchy to me. Even if I had the $1500 to waste I would never spend it on the Stratus card.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.
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