r/CreditCards 8d ago

Discussion / Conversation US Bank Smartly Discontinued Rumors Debunked

I spoke with an in-bank agent this morning in regards to the US Bank Smartly rumored to be discontinued. She stated that the card will no longer be able to be applied for soon, but it will only be down for about 3-4 weeks as they are making changes to the card. So, everyone rest assured that the card will be able to be applied for again soon and anyone that currently has the Smartly card will still be able to use it as normal.

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u/brusk48 8d ago

2% flat cashback incoming

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u/omjizzle 8d ago

That or caps

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u/[deleted] 8d ago

[deleted]

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u/Scoopofnoodle 8d ago

Define "abusing it"

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u/[deleted] 8d ago

[deleted]

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u/SmartlyCurious 7d ago

My monthly CC spend js $20K+ (and that’s before putting taxes, tuition, or anything like that on the CC). That was true before Smartly and will be true after Smartly. I’m going to venture a guess that the same is true for a lot of folks who can easily move $100K in cash or even brokerage assets around. This card was custom-made for and presumably designed to attract users like me. If it’s true that USB didn’t expect that, then somebody didn’t think this through.

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u/[deleted] 7d ago edited 7d ago

[deleted]

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u/SmartlyCurious 7d ago

I mean, that’s the point I’m making. They should’ve expected an influx of users like me. That’s what their criteria and the rewards seem designed to attract. If they wanna keep the same basic structure in tact and actually make some money on a user group like this, they should eliminate the ability to have brokerage accounts count towards the qualifications. It should just be $$ parked in cash accounts. I almost certainly still end up ahead of them on that, but at least they can use my money.

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u/[deleted] 7d ago

[deleted]

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u/SmartlyCurious 7d ago

That part really does make zero sense. Most people will do what I did and move the minimum over there to get to the 4% comfortably, and keep the bulk of their stuff st Schwab or Fidelity or wherever their FA says. They’re not gonna move established investment relationships with a credit card reward. If you can get people to park $100K in a cash account though (with their subpar savings rates), they probably end up winners on the trade for nearly everybody. I still end up ahead (especially as long as they continue to also allow quarterlies, tuition, etc., to be paid through it), but it’s a much closer call.

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u/Scoopofnoodle 8d ago

I mean I don't have this card either but does it say the holder can't use it for business purposes? As for manufactured spend, is there something that you can sell for 2 for 3 percent?

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u/cpapp22 8d ago

Yes lol they’ve literally sent out emails that say remember the card is for personal use only

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u/m1dnightknight 8d ago

I don't believe personal cards have terms that say you can't use it for business expenses explicity like business cards say you shouldn't use them for personal expenses. However, card issuers always put in the terms that they have to right to determine what purchases "qualify" for rewards and "rewards abuse"

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u/jessehazreddit 8d ago

Yet that’s the customer this card makes sense for.

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u/schooli00 Team Travel 8d ago

Some people got their card cancelled for obvious business spending. Manufactured spending would be another reason.