FWIW it looks like ATM reimbursements are part of their "Smart Rewards" tiers, initially 4 per period (@ Primary) and up to unlimited (@ Premium - which requires $100k+ balance @ US Bank/brokerage). https://alliance.usbank.com/en-us/state ... wards.htmlAlso it looked like they had a selection of free to trade mutual funds, but not sure which fund companies.Couple of other issues:
Brokerage has a $50 annual fee apparently if under $250K, so that will need to be factored in.
100 free trades then $4.95 a trade after that, probably not an issue for most.
Is there a FTF on this card? Can’t tell. That would be a killer for me.
Domestic ATM reimbursement? Not a big deal, but…..
Interested though.
If a 4% card had a $50 annual fee, I'd pay it, so broker account fee not really an obstacle. However, there is no clear statement that the Visa card will not also have an annual fee.
Both of their other cashback cards have 3% FTF.
No ATM reimbursement, but US Bank has ATMs at every 7-11.
Another potentially interesting benefit - at least for me - is free access to Greenlight for debit cards for kids. This was something I had setup a while back, and had kept as it gave me access to Greenlights [up-to] 3% cashback family card. With their credit card ending, I was thinking of stopping my subscription (can get a kid's debit card from other places for free). But if its "free" as part of a US Bank account - and that US Bank account ends up being needed (along with > $100k across US Bank) to get US Bank's 4% credit card - that's a "win/win" for me...
Compared to my prior setup, the US Bank 4% card [when released, and I meet the 4% tier requirements] would result in:
- + 1.375% extra cashback on everyday purchases (no special categories/cards), from my 2.625% BoA Unlimited Card
- Save $60/year on Greenlight service (included with US Bank) - "free" debit cards for kids (when primary funding source is US Bank)
- Save $95/year fee on Savor - as we'd get 4% on all purchases - including dining
- [Related to above/Savor] Get + 1% - 3% extra cash back on non-dining purchases made on Savor
- Consolidate down to 1 primary credit card (which easily fits in my phone case), removing/replacing cards such as:
- Bank of America: Unlimited Cashback [w/ Platinum]: 2.625% (best "unlimited" card I have right now, and no need to maintain BoA relationship/honor tier - can move those assets to US Bank for a better credit card)
- Bank of America: Customized Cashback [w/ Platinum]: 5% on selected category (we don't utilize this as we probably could/should - and for unlimited cash back on all categories [no mystery as to where something gets coded] for 4% [vs 5%] - we can live without...)
- Capital One: Savor: 4% on dining @ $95/fee
- Capital One: Walmart: 5% - as their Walmart/5% cashback is ending anyway
- Greenlight: Family Card: 3% - which has ended anyway...
- [up-to] $450 sign-up bonus on their Smartly Checking account, if done before 9/26: https://bankbonus.com/promotions/us-ban ... nus-offer/
But so far, really like the idea of a simple, single, 4% unlimited cash back card - with no categories/hoops to manage monthly. (Yes, definitely some setup hoops to create all the accounts, get signup bonus, avoid monthly feeds. But not something I need to manage long-term - mostly one-time setup...) FWIW I don't plan on "moving" any of my banking to US Bank with this... I'll treat it much like the BoA/Merrill setup - do the minimum needed to get the additional cash back - and leave the rest of my banking/setup in place with other institutions.
Statistics: Posted by SnowBog — Sun Sep 08, 2024 12:47 am — Replies 7413 — Views 1508019