U.S. Bank Rethinking the Smartly Visa Credit Card?
The U.S. Bank Smartly Visa Credit Card launched in November of 2024 with the highest cash back rate for everyday purchases. Cardholders can earn 4% cash back on every purchase, as long as they have $100,000 or more in U.S. Bank accounts.
Then, earlier this month, many cardholders received a latter warning them that they shouldn’t use their U.S. Bank Smartly Visa Card for business charges.
And now the U.S. Bank Smartly Visa Card has been pulled from branches where you can no longer apply. Bank agent are saying that you can only do so online, and some have even mentioned that the card might be gone completely after one month.
U.S. Bank has also stopped product changing other cards to the Smartly Visa Card. So it sounds like they have underestimated the volume of charges that will earn 4% cash back.
Pulling the card just four months after launching it sounds hard to believe, but we could see changes to the card that make to more difficult to earn that 4% cashback rate. U.S. Bank recently increased the monthly fee for the Smartly Checking account, and also made it more difficult to get it waived.
Were you planning on getting this card? Do you have it already in your wallet? Let us know what you think!
HT: Doctor of Credit
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