Was in a branch today and they tried to get me to apply for their new Cash+ Visa.
Looks interesting.
Categories for 5% change quarterly. From what I was told, you'll get a list each quarter to choose from for the 5%. Can switch between the 2% categories quarterly as well.
Earn 5% Cash Back on two categories that you choose, like home improvement stores or airline tickets. Earn 2% Cash Back on gas, groceries or drug stores – choose one Earn 1% Cash Back on everything else. Get a $25 Cash+ Bonus each time you redeem $100 or more Cash Back in a single redemption.
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updated:
Feb. 26, 2013 @ 10:47p by whninja
posted: Jun. 6, 2012 @ 8:23a
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No complaints though lol. I looked at my transcations again and sure enough I redeemed my $100 on like May 11th. That ... (more)
cdancer20 (Jun. 17, 2013 @ 3:27p)
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wow, I just got mine in the mail today. That was fast!
tajar96 (Jun. 17, 2013 @ 6:00p)
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Just noticed that the Cash+ category sign up page clarifies how the $25 yearly limit will work:
All single redemptions of $100 or ... (more)
GodelianKnot (Jun. 19, 2013 @ 9:24p)
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Preview
Can convert current US Bank Cash Rewards card to Cash+ without any inquiries.
The categories have changed for the worse, starting the in the second quarter of 2013, adding cell phones and sporting goods (dropping the valuable bill pay and airlines)
5% Categories from Demo:
Department Stores MCC 5311
Restaurants (Cafes, cafeterias, grills and fine-dining establishments) MCC 5812 or 5813
Fast Food
Electronic Stores. MCC 5732
Hotels (When you book your reservations directly with the hotel (through its website, over the phone or in person)
Furniture Stores
Car Rental (When you book your car rentals directly with the car rental agency (through its website, over the phone or in person)
Charity (non-political fund-raising organizations and social-service organizations.. Qualifying charities include advocacy groups, community organizations, and health agencies) MCC 8398
Word of Caution: If you have a US Bank CC and convert to this card your online statement history disappears. If you keep pdf statements download them before converting. Also a teller at a branch should provide you with a hard copy if you find this necessary. 07/05/12 Karatz
The statement/website won't show the merchant code - to get it download the transactions to Excel and look for a 5 digit number with a leading 0. Then look that code up here.
There is a rewards bonus on the base 1% for having a Gold Or Platinum Checking Account, yielding the following CashBack Amounts:
Then separately from that, you earn 25% on the total accumulated rewards if you wait to accrue $100, via the bonus $25 gift card.
So, following the three possibilities above, these are the effective rewards if redeemed at $100 (each percentage above multiplied by 1.25):
Cash+ and redeem at $100: 1.25% / 2.5% / 6.25% Cash+ and Gold Checking and redeem at $100: 1.5265% / 2.8125% / 6.5625% Cash+ and Platinum Checking and redeem at $100: 1.875% / 3.125% / 6.875%
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imbatman
Nerdy Member
rated:
posted: Jun. 6, 2012 @ 8:44a
interesting:
1 Cardmember must enroll each quarter into categories [5% or 2%] of their choice, or all net purchases will earn no more than 1% Cash Back. Categories subject to change quarterly. U.S. Bank cannot control how merchants choose to classify their business (Purchase categories) and reserves the right to determine which Purchases qualify. Full details will be provided upon approval of an account.
no limit to rewards. Here's a demofor how to select the 5% categories Looks like your 5%ers can be Department Stores, Restaurants, Home Improvement Stores, Electronics Stores, Airlines, Hotels, Bill Payment, Fast Food, Furniture stores, Car Rental, Charity, Movie Theaters.
Say you group this card with AMEX Blue Cash Preferred (6% grocery), Citi Forward (5x TY Points on all dining, which covers restaurants and fast food, and movie theaters - 3 categories for this card), and PenFed travel AMEX (5% airfare) this could be an effective card if you know you're going to have a big spend in a category.
It means you could have a card that would effectively give you 5% on Department Stores, Home Improvement Stores, Electronics Stores, Hotels, Bill Payment, Furniture stores, Car Rental, Charity.
I may get one for me to get 5% on bill payments (Get Cash Back every month when you set up automatic bill payments for phone, internet, cable/satellite TV, utilities, and insurance.), then rotate the other 5% category when I have a big purchase coming up.
Quoting from the footnotes of OP's link:1.Cardmember must enroll each quarter into categories of their choice, or all net purchases will earn no more than 1% Cash Back. Categories subject to change quarterly. U.S. Bank cannot control how merchants choose to classify their business (Purchase categories) and reserves the right to determine which Purchases qualify. Full details will be provided upon approval of an account.
Much depends on the categories available. Looking forward to those details for the current quarter. Anyone?
Pondus said: Quoting from the footnotes of OP's link:1.Cardmember must enroll each quarter into categories of their choice, or all net purchases will earn no more than 1% Cash Back. Categories subject to change quarterly. U.S. Bank cannot control how merchants choose to classify their business (Purchase categories) and reserves the right to determine which Purchases qualify. Full details will be provided upon approval of an account.
Much depends on the categories available. Looking forward to those details for the current quarter. Anyone? I have a post coming that's "pending" that has the available categories. in the meantime, here's a link with the categories: https://cashplus.usbank.com/index.cfm/main/categories/demo/true
Interesting find. The $25 bonus on $100 redemption could change the dynamics a bit and make it worthwhile for some categories. I really liked US Bank when they serviced my mortgage, though I haven't had experience with them other than that.
imbatman said: Pondus said: Quoting from the footnotes of OP's link:1.Cardmember must enroll each quarter into categories of their choice, or all net purchases will earn no more than 1% Cash Back. Categories subject to change quarterly. U.S. Bank cannot control how merchants choose to classify their business (Purchase categories) and reserves the right to determine which Purchases qualify. Full details will be provided upon approval of an account.
Much depends on the categories available. Looking forward to those details for the current quarter. Anyone? I have a post coming that's "pending" that has the available categories. in the meantime, here's a link with the categories: https://cashplus.usbank.com/index.cfm/main/categories/demo/true
Department Stores, Electronics Stores, Home Improvement sounds enticing.
motsuka said: Wow, Billpay category at 5% + 25% redemption bonus over $100 makes 6.25% on bills, likely worth getting just for that Agreed, note that it's bills on autopay. I can't setup all my bills on autopay, so the others would just be @ 1%
Crap, I had just called them to do a product change from my old Platinum LinuxFund card to the one with 1% CB. I wonder if they can do a product change to this card...
We're unable to provide a decision about your application at this time. We apologize for the inconvenience. You will be notified of the decision via U.S. Mail in 7-10 business days.
imbatman said: motsuka said: Wow, Billpay category at 5% + 25% redemption bonus over $100 makes 6.25% on bills, likely worth getting just for that Agreed, note that it's bills on autopay. I can't setup all my bills on autopay, so the others would just be @ 1%
Interesting note. Because many bills change every month I assume they are referring to setting up an autopay offered by the company you pay the bill to.
How would they know whether the charge is an autopay or a one time payment? - I realize autopay is often mentioned in the billing description, but it still doesn't seem very easy to differentiate between the 2 automatically.
Some categories are also more narrow than usual. I.e. Restaurants and Fast Food are listed as separate choices.
luiset83 said: Crap, I had just called them to do a product change from my old Platinum LinuxFund card to the one with 1% CB. I wonder if they can do a product change to this card...You got them to product change an Elan card to a US Bank card? Wonder if I could finally do something useful with the nerfed Associated Bank Rewards.
StartByServingOthers said: imbatman said: motsuka said: Wow, Billpay category at 5% + 25% redemption bonus over $100 makes 6.25% on bills, likely worth getting just for that Agreed, note that it's bills on autopay. I can't setup all my bills on autopay, so the others would just be @ 1%
Interesting note. Because many bills change every month I assume they are referring to setting up an autopay offered by the company you pay the bill to.
How would they know whether the charge is an autopay or a one time payment? - I realize autopay is often mentioned in the billing description, but it still doesn't seem very easy to differentiate between the 2 automatically.
I figure it can be done. I've gotten a couple of FIA promos that only gave me credit for autopays on my accounts (single payments didn't get me the credit).
Pondus said: luiset83 said: Crap, I had just called them to do a product change from my old Platinum LinuxFund card to the one with 1% CB. I wonder if they can do a product change to this card...You got them to product change an Elan card to a US Bank card? Wonder if I could finally do something useful with the nerfed Associated Bank Rewards.
Actually it was just a subcategory of the same Linux card with 1% Cash Back, but give it a shot and let us know!
Wonder if the % changes with the categories as well... like restaurants are 5% this quarter but will be 2% next quarter and vice versa with other categories. Some of the 5% categories seem like they would be worth it. I don't like how restaurants and fast foods are two seperate. Electronic and Dept stores would be worth. I'm holding out but I'm intrigued. Play this with your Discover and Freedom. You could be at 5% on nearly every purchase
Bill Payment: 5% Examples include service providers like Comcast, DIRECTV, AT&T and State Farm insurance.
Get Cash Back every month when you set up automatic bill payments for phone, internet, cable/satellite TV, utilities, and insurance.
The entities listed above are merely examples of the type of companies and merchants that fall within each particular category. U.S. Bank, its parent, and affiliated corporations are not affiliated, connected, or associated with these entities, nor are its products and services endorsed by these entities.
rjdoc74 said: We're unable to provide a decision about your application at this time. We apologize for the inconvenience. You will be notified of the decision via U.S. Mail in 7-10 business days.
I just applied and got this message. I called 800-947-1444 and found out I was denied. A rep told me that my application was auto-declined because of my geographical region, and that only the flex perks rewards cards are offered nationwide. I live in the southeast btw.
also got "Your application may be subject to further verification. You will be receiving additional information in the mail in 7-10 business days. Thanks for choosing U.S. Bank. "
Called about a different card I've had over a decade with US Bank. Casually asked about the Cash+. Rep said that I am already pre-approved for the Cash+; she commented that I would not need a new application or a credit pull if I converted my existing card to the Cash+. Further, said the account number might change but will not show as a new account in the credit report (i.e. the account history/duration stays). So, if you have a US Bank card you don't use that often...you could just switch.
BTW, does pre-approved indeed mean that they won't pull my credit report (hard inquiry)??
Just got off the phone with my banker. Was told you can convert their current FlexPerks Cash Rewards card to the Cash+ without any inquiries, etc... Just an internal account number change and new cards sent.
FW10001 said: Called about a different card I've had over a decade with US Bank. Casually asked about the Cash+. Rep said that I am already pre-approved for the Cash+; she commented that I would not need a new application or a credit pull if I converted my existing card to the Cash+. Further, said the account number might change but will not show as a new account in the credit report (i.e. the account history/duration stays). So, if you have a US Bank card you don't use that often...you could just switch.
BTW, does pre-approved indeed mean that they won't pull my credit report (hard inquiry)??Proceed with caution. If Elan's purchase of the Citi portfolio is any indication on how the new account will be reported, you may be stuck with a "new" account for a while. Many of us disputed the account opening date to no avail, until one day Elan just fixed its reporting. The possibility of an inquiry makes the conversion a no-go for me. U.S. Bank's sensitivity to the number of inquiries is another concern. I hope someone in this thread is approved and provides data.
nuugatman said: rjdoc74 said: We're unable to provide a decision about your application at this time. We apologize for the inconvenience. You will be notified of the decision via U.S. Mail in 7-10 business days.
I just applied and got this message. I called 800-947-1444 and found out I was denied. A rep told me that my application was auto-declined because of my geographical region, and that only the flex perks rewards cards are offered nationwide. I live in the southeast btw.
What state? I'm in GA, wondering if I should go for this one, or if it's a waste of an inquiry.
nuugatman said: rjdoc74 said: We're unable to provide a decision about your application at this time. We apologize for the inconvenience. You will be notified of the decision via U.S. Mail in 7-10 business days.
I just applied and got this message. I called 800-947-1444 and found out I was denied. A rep told me that my application was auto-declined because of my geographical region, and that only the flex perks rewards cards are offered nationwide. I live in the southeast btw.
That's very odd. I just got off the phone with them (same number) to see if it was available in my state and after a couple minutes on hold the rep said it was available in all states. I don't think all the reps are up to speed on the new card yet, so I can't trust what she told me.
I noticed on the Facebook sweepstakes they are running, there are only a handful of states allowed to participate, but that could be because of specific sweepstake rules in many of the states and not because of geographical limitations of card approval itself. These are the states listed in the sweepstake rules, "AR, AZ, CA, CO, IA, ID, IL, IN, KS, KY, MN, MO, MT, ND, NE, NM, NV, OH, OR, SD, TN, UT, WA, WI, WY" so we know that those states are definitely allowed to get the US Bank Cash+ Visa. Others may be able to get the card but just be excluded from the sweepstakes.
JYX said: Just applied, and got approved instantaneously. live in IL.Congrats. Would you know your score and inquiries on whatever bureau they pulled? In IL it should be Equifax.
MrMBS said: nuugatman said: rjdoc74 said: We're unable to provide a decision about your application at this time. We apologize for the inconvenience. You will be notified of the decision via U.S. Mail in 7-10 business days.
I just applied and got this message. I called 800-947-1444 and found out I was denied. A rep told me that my application was auto-declined because of my geographical region, and that only the flex perks rewards cards are offered nationwide. I live in the southeast btw.
That's very odd. I just got off the phone with them (same number) to see if it was available in my state and after a couple minutes on hold the rep said it was available in all states. I don't think all the reps are up to speed on the new card yet, so I can't trust what she told me.
I noticed on the Facebook sweepstakes they are running, there are only a handful of states allowed to participate, but that could be because of specific sweepstake rules in many of the states and not because of geographical limitations of card approval itself. These are the states listed in the sweepstake rules, "AR, AZ, CA, CO, IA, ID, IL, IN, KS, KY, MN, MO, MT, ND, NE, NM, NV, OH, OR, SD, TN, UT, WA, WI, WY" so we know that those states are definitely allowed to get the US Bank Cash+ Visa. Others may be able to get the card but just be excluded from the sweepstakes.
I am in Alabama. I noticed Tennessee is on that list, and I've seen US Bank branches in Tennessee but there are none in Alabama that I know of. The card might only be offered in states where US Bank has a physical presence.
Well, my message was a little different from the one mentioned. "Your application may be subject to further verification. You will be receiving additional information in the mail in 7-10 business days. Thanks for choosing U.S. Bank."
I am a long time customer of U.S. Bank, checking and mortgage. Last year in September I was offered and accepted a line of credit, and the notice I received after that stated that my credit score was 797 through CSC Credit Services (Equifax). I am assuming they are using the same credit bureau for this. I live in Missouri.
The only benefits of this card over CITI Forward is the 5% option for dept stores and bill pay. Restaurants should be bundled with fast food, likewise with furniture and dept stores. The 2% isn't very worthwhile. The limitations on Hotels, Airlines, and Car Rentals will not yield any savings.
Just noticed that the Cash+ category sign up page clarifies how the $25 yearly limit will work:
All single redemptions of $100 or more made on or after July 1, 2013 will be limited to one $25 Cash+ Bonus per calendar year (July–December 2013 and January–December in subsequent years).
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