The U.S. Bank Smartly savings account APY rate has been lowered from 3.60% to 3.00% APY. Some people who are grandfathered into the old Smartly system use this account to meet the $100k balance to become eligible for the 4% credit card.
3% still isn’t terrible, but getting less competitive with the best 4-4.5% accounts. I might move over some funds into the U.S. Bank brokerage and buy SGOV instead. I didn’t bother earlier when the rates were closer as it was easier for me to access the savings account to pay off my card balances and the like, but with the bump down to 3% it might be worth the effort.
Update: I see now there’s also an elite money market account with an interest rate of 4.25% with at least $25,000 deposited and then maintained. Not everyone gets the 4.25% so enter your zip code first to check. I might try opening this instead, and the money market account should also count toward the $100k requirement (for those with the better nerf version which allows deposit accounts). Other readers mention a 4% 5-month CD as another option.
Another update: see this follow up post, (YMMV) U.S. Bank Smartly Savings Account Interest Rate .05% APY.
