US Bank Triple Cash Gas Earning
You all have heard the saying, fool me once shame on your, fool me twice shame on me. Well, that is the predicament I find myself in with US Bank. They got me with some crafty language a year or two ago on a new business credit card offer. That was mostly my fault though, I was moving too fast. This latest issues with the US Bank Triple Cash gas earning structure is all on them though, at least I think that. I have to tell you they play the game well, better than pretty much any other bank. They definitely took me to task here. They buried it oh so deep down in the terms too.
US Bank Triple Cash Earning Structure
Here is what shows when you go to the US Bank application page for the card’s earning structure and perks:
- Earn 3% cash back on eligible purchases at
- gas stations
- office supply stores
- cell phone service providers
- Earn 1% cash back on all other eligible purchases.
- No limits on the total rewards you can earn and your rewards never expire.
- Annual $100 statement credit for recurring software subscription expenses such as FreshBooks or QuickBooks.
I signed up for the US Bank Triple Cash a few months back because it comes with a rewarding welcome offer and earning structure for a no fee card. The welcome offer is $500 after spending $4500 within the first 150 days. My plan was to maximize this offer in the gas category for an additional 3% back on a chunk of my spend.
I met the spending required before the statement cut last week but my rewards balance was lower than expected. With the 3% earning at gas stations on quite a bit of the $4500 in spend I expected the rewards balance to be a little over $600. However, my balance was around $550…what gives? I pulled up my statement and that is when I saw this:
US Bank Triple Cash Gas Earning Capped
Whoa, how did I miss this? I must have been going too fast again, right? I pulled up our review of the card (updated now), nothing there. Then I went to the US Bank website thinking it must be prominently displayed there. Nope!
There is a link to more terms there (the 2 after restaurants) though. When you click it you are taken way down the page and you see a large paragraph that includes this:
Purchases of gasoline greater than $200 will not be deemed to be a purchase of automotive gasoline and as such will earn a reward of 1%.
Well played US Bank, well played. I don’t have a problem with them having this terminology and I get why it is there. But, to bury it in the terms that pretty much NO ONE saw until now seems deceptive to me.
I still think the US Bank Triple Cash is a worthy card with one of the better cash welcome offers out there. I just wish I had known the gas category was capped at purchases of $200 or less for earning 3%. If I had known I would have been able to adjust accordingly. If using the gas category was your plan as well then you should be aware of it. The office supply store category may be a better fit overall for most anyway.
What do you think? Is the US Bank Triple Cash gas earning structure a bit deceptive or do you think I should have read the terms closer?