Good morning everyone, happy Friday! Yesterday, I wrote American Express Changes: $25 Account Reopening Fee, Forfeiting Points on Late Payments & Old Blue Cash Redemptions. In today’s post, I will cover some recent changes that I saw in my US Bank Cash Plus Credit Card statement.
“Effective June 1, 2021, the minimum redemption amount required to redeem cash back in the form of a statement credit or a deposit made to your U.S. Bank Savings, Checking or Money Market Account will be $25 (previously, it was $0.01).” This is bad news for credit card holders that earn less than $25.00 in cash back every month. I love when my statement closes and I can redeem $5.25, or $8.63, or $12.99 as a statement credit toward my credit card bill. Stating in June, I will have to accrue at least $25.00 in cash back before I can redeem for a statement credit. Let’s go through the other changes and see what US Bank is up to.
I’m not sure if this is a new policy, but “cash rewards will expire at the end of the calendar month 36 months after the billing cycle in which they were earned.” Please redeem your cash back at least every 36 months before it expires.
US Bank has also “added Mobile Authentication and Cellular Phone Contact Policy to and made changes to the Arbitration Agreement in your account agreement.” To learn more about the arbitration changes, click here.
Did you know that you are now have “complimentary access to ID Navigator Powered by NortonLifeLock, providing you with the tools to help keep you informed of potential threats to your identity”? I had no idea. Personally, I stay away from anything LifeLock-related, but if you want to learn more, click here.
Lastly, Postmates was acquired by Uber on December 1, 2020, so the new Postmates benefit that was supposed to come in early 2021 is no longer available. I’ve never used Postmates or was aware of this upcoming benefit, so this does not effect me.
If you have any questions about any of these changes, please leave a comment below. Have a great weekend everyone!