(Reposting 5/25/21 as a reminder that this ends soon)
U.S. Bank Cash+ will be adding a minimum cashout threshold of $25 on June 1, 2021, as reported by Travelwithgrant. Currently, the threshold is $.01.
Also note that rewards expire 36 months after they were earned, so be sure to earn at least $25 over the course of the 36 months and cash them out before they expire.
On a positive note: they are adding “real-time” redemption with minimum purchase amounts starting at $10. (categories: Airline; Book Stores; Car Rental; Cell Phones; Charity; Clothing Stores; Drug Store; Electronics Stores; Fast Food; Furniture; Grocery Stores and Department Stores; Gyms / Fitness Clubs; Home Improvement; Lodging; Movie Theaters; Other Travel; Sporting Goods; Other Merchants)
I just checked and my Cash+ still shows a $.01 minimum redemption. Are you sure this is actually going to occur? Has it changed for any of you?
I cashed out to my USB checking this morning for $6.30.
I just cashed out $10.04 as a statement credit.
Apparently it’s now been implemented. I get “The entered value cannot be more than your cash rewards balance or below 25 cash rewards” when I try to redeem my $6 balance this month.
Do you know why
Chuck made this post? 
Fred, 
Jim and I am still able to redeem for any amount. I asked him for an update but he hasn’t responded yet.
Looks like a repeat of Chase announcing a change but not actually enforcing it (e.g., funding a bank account would be charged as a cash advance).
If you’ve already tagged Chuck, no need to tag me as well to ask why he made the post. I assume he will get back to you at some stage. In the actual post you can see why he made it: “U.S. Bank Cash+ will be adding a minimum cashout threshold of $25 on June 1, 2021, as reported by Travelwithgrant. Currently, the threshold is $.01.”
It was reported by TwG and based off information from his monthly statement. It’s possible your language wasn’t included in that months statement and will go into effect the following month.
I have found that if
Chuck doesn’t reply to me within 2 or 3 days he never ends up replying. He has even admitted that he doesn’t reply if he doesn’t know the answer.
I have found that you do typically reply to me when I tag you (even if it’s just to tell me that you don’t know) and I appreciate that.
I didn’t word my question in a good way. I did see that Chuck linked to that post. However, since it didn’t actually come to fruition on June 1st I wanted to follow up with him and others to see if there was any kind of update.
I did just check my March statement and that note is on mine also. I guess USB could change the threshold at any time but hopefully it never gets implemented.
I’d just wait and see, could be it’s being implemented with a delay
Looks like it was a delay. Redemption option now defaults to $25 minimum.
Thanks for the reminder, Doc!
I redeem mine as credit back into my account to pay for my expenses.
US Bank Business is even worse. Can only cash out in $25 increments.
One of the most annoying thing about my Wells Fargo Propel.
Agreed. And Citi Double Cash.
I have $2000 in rewards. No plans on redeeming it yet. Lol
Make sure to do it before they expire though! Only 6 months
I’ve used my altitude go card to redeem like .30c when linked to PayPal, so hopefully it would work for the cash plus as well.
shit bank living in 1776, closed all my credit cards and checking with them
I can no longer use the $0.99 small balance trick. FUCK!!!!
Why does this prevent you from charging $.99 or less each month to the card?
Spectrum’s minimum payment is $1.
Didn’t USB waive balances up to $1 so why would that be an issue? Also, why wouldn’t you be able to do an Amazon reload for less than $1?
You also didn’t answer me how this rewards change has anything to do with your comment.
Anyway, It seems to be a moot point. I just checked and my Cash+ statement balance this month was $.91 and it was not waived. I don’t know when they stopped waiving it as my statement balance has been over $1 for every other month in 2021.
Do any of you have similar DP?
Chuck, have you received comments and/or emails from others about USB no longer waiving a small balance?
The whole point is that USB doesn’t waive $1 in my case, but they still waive $0.99. So that’s why I’m got pissed off. And I never use fucking Amazon other than MSing.
Did you read my entire comment? My $.91 balance did not get waived in May.
Wait! That’s a thing? Once I charged only like $1.60 to my WF Propel when I got a soda from the vending machine. Anyways they refunded me at statement closing and I had no idea why.
WF has $1.99 small balance adjustment.
refer to this post: https://www.doctorofcredit.com/small-balance-waiver-a-k-a-lots-of-free-99-cent-amazon-gcs
Why do you want to redeem every month? I don’t get it!
My electricity/water/sewer/phone/internet are over $250 monthly. Only taking 2 months to reach $25 for redeeming. I usually redeem it every 6 months.
This topic is absolutely nonsense.
DOC, please update the post with this:
Creditian
There are different rewards use cases other than those of
Everyone has their preferences. A lot of people including me prefer to have the money into our savings/brokerage ASAP and this takes the flexibility away.
The sooner the money is available, the sooner people can place it wherever their destination is.
What would be the advantage of having to wait?
So people can feel they are getting a lot of money when they redeem it. Same with people who get excited about tax refund when you are really giving the IRS a free loan for a year
I think the bank just wants to make more interest off the cash before having to pay it out.
Plus, I’m sure many people forget to redeem their rewards in time, so the bank saves some money that way too.
FUCK YOU US Bank!!!!
that was nice to redeem anything from $5 to $10 every month to bring back into my bank account. hmm. got to wait 3-4 months now to score that $25