U.S. Bank sent out an email on their personal and business cards indicating that rewards will expire after 12 months of inactivity (direct link). The changes go into effect for April 14, 2025 and onward.
Cash Rewards will not expire as long as you keep your account active. To keep your account active, simply make a purchase, maintain a balance or redeem rewards. Cash Rewards will expire if there is no activity for 12 billing cycles.
There’s also a cryptic note about how Real-Time Rewards values may vary over time:
You’ll get the most value when you redeem your Cash Rewards as a statement credit, deposit into an eligible U.S. Bank account or as a cash donation to charity. When redeeming Cash Rewards for Real-Time Rewards and U.S. Bank Rewards Card, the Cash Rewards values and redemption minimums may vary over time, and will be disclosed upon redemption.
Folks wanting to dig into what that “cryptic note about how Real-Time Rewards values may vary over time” might mean should probably read the following forum discussion (MyFico – Credit Cards).
TL;DR version: real-time rewards redemption may get counted the same way as merchandise return when calculating your spend to apply rewards % to at the end of the statement period. To my knowledge this handling is nowhere in the fine print. But the math is there to dig out (or at least it was in this particular case). Hope this is useful.
Link: https://ficoforums.myfico.com/t5/Credit-Cards/US-Bank-Shopper-Cash-Rewards-Visa-Signature-bonus-cash-back/m-p/6793595
I think we can all agree they can GF Themselves
No, I don’t agree with that. I like USB.
I was fully expecting this with the introduction of the Smartly Visa Signature. Sounds like they are adding restrictions and cost saving measures.
I am really dense with what they are pulling in April. All my utilities code perfectly, even refuse service so I do very well with 5% utilities. Is the category going away? Are the
5% categories listed the only choices in April? The 2% gas and grocery is very confusing as these are categories you could pick now for 2% so why is that an update.
The following rewards program updates will take effect April 14, 2025.
Updated rewards earning 2% cash back on your choice of everyday category (like Gas Stations and EV Charging Stations or Grocery Stores). ^
You will continue to earn 5% cash back on your first $2,000 in combined eligible purchases each quarter on the two categories you choose. 5% cash back on prepaid, air, hotel and car reservations booked directly in the Rewards Travel Center. And 1% cash back on all other eligible purchases.
^ Excludes discount stores/supercenters and wholesale clubs.
Reward redemption changes
You’ll get the most value when you redeem your Cash Rewards as a statement credit or deposit to an eligible U.S. Bank account.
When redeeming Cash Rewards for Real-Time Rewards and U.S. Bank Rewards Card, the Cash Rewards values and redemption minimums may vary over time, and will be disclosed upon redemption.
The only real change is that the 2% gas/grocery bonus no longer applies for purchases at target/wm/warehouse which no one should be doing anyways. Everything else remains the same.
Yeah I’m nervous they’ll revamp the category options. I’m using that utility category quite strongly.
I think the current 2% categories are Gas/EV, Grocery, or Restaurant. Perhaps they’re removing the restaurant category?
I received the email about these changes for:
• Cash+
• Altitude Go
• Business Triple Cash
I didn’t receive this email for my Altitude Reserve account. Regarding the language about variable points values for Real Time Rewards, I wonder if Altitude Reserve is unaffected by that change.
Same here, I have one of each of Altitude Reserve / Connect / Go, but only received the email about the changes for the Altitude Go card.
they have been expiring reward points for cash+ if you don’t redeem them 2 years after the earned date. if you spend little but more than a few times each year, your rewards still expire with an active card. the minimum redemption amount is a killer with this
this is not true for cash+. should update if it only applies to alt card
Cash Rewards will not expire as long as you keep your account active
For my Cash+ card opened in Nov 2023, the terms said “Rebates will expire at the end of the calendar month 36 months after the billing cycle in which they were earned”, and the email I got a couple days ago also says 36 months.
Are you saying that they actually expire earlier than the terms say? Or you meant to say 3 years?
The $25 minimum to redeem isn’t a big deal for me though. At 5%, that’s $500 of spending. My utilities spending is definitely more than that in less than 1 year.
upon checking, the current terms says 36 months for me too. I thought it’s 24 months because this month’s reminder email shows the same expiring amount that I earned exactly 2 years ago
USB has been removing/nerfing categories over the years. I eventually ended up with almost no categories to spend on cash+ since other cc or payment methods already covered other categories
If you’re redeeming less than $25 in 2 years, why are you even bothering with this card and category?
I get about $25 per quarter and even that is a bit on the hairy edge for me.
If any earning activity keeps everything from expiring, then this should be a non issue for diligent DoC readers who minimally use US Bank cards for a $1 monthly credit 11 times a year. Actually this would be an improvement over the previous policy where points expire on a 36 month basis from the time earned.
Also a non issue for Triple Cash holders because your $2/month subscription for the software credit racks up another $0.02 every month.
Which qualified subscription is $2/mo?
https://www.doctorofcredit.com/u-s-bank-triple-cash-100-software-credit-what-works-profitable-uses/
There’s at least one of them in there that’s $2+tax but I don’t want to kill it. 😉 I noticed William Charles had the same thought and left it to the reader to check the comments.
I also have a *useful* one on my other Triple Cash that bills just over $4. It’s in there too.
I’m not aware of any $2-$4 ones not in that post but there are probably plenty more out there. I’m looking for them but testing is tedious. I’d like another for my next Triple Cash and if/when I find a good one I’ll comment under that post.
What $1 monthly credit?
Am I correct that you are not familiar with the below post?
https://www.doctorofcredit.com/small-balance-waiver-a-k-a-lots-of-free-99-cent-amazon-gcs/
What a bitch move.
Not that “cryptic.” They’re planning to depreciate the cash equivalent value of points redeemed for other than a statement credit, USB deposit, or donation, less costly than an immediate cash payment. Tolerable, but if the 5% categories go, they’re history, not that they care about “deadbeats” who rack up points/bonuses and pay off balances. It’s the 29% APR card “junkies” they covet.
Look, there have been more than enough data points on US Bank over the past year or so. Something fundamental is going on. The bank is clearly becoming less friendly and less rewarding. Going forward, nothing should be a surprise.