Replace August 2025: Beforehand-grandfathered “V1” cardholders ought to have obtained each paper and e-mail notifications of recent modifications which are to be efficient 9/15/25. The e-mail topic might be “Important information about your U.S. Bank Smartly Visa Signature Card”. There seems to be two potential units of recent necessities.

The extra restrictive model principally modifications you to the present model out there to new candidates, which requires all qualifying balances to be held in a checking account incomes basically zero curiosity. There are additionally new excluded classes like tuition and estimated tax funds.

Up to date rewards incomes
You’ll proceed to earn limitless 2% money again on each buy with no caps.¹

The best way by which you earn a Neatly Incomes Bonus might be up to date as follows:
Earn as much as an extra 2% money again in your first $10,000 in eligible Web Purchases every billing cycle when paired with a U.S. Financial institution Neatly® Financial savings account plus qualifying balances in U.S. Financial institution Neatly® Checking and/or Protected Debit account(s).¹
– Earn a complete of two.5% money again with a qualifying steadiness between $10,000 and $49,999.
– Earn a complete of three% money again with a qualifying steadiness between $50,000 and $99,999.
– Earn a complete of 4% money again with a qualifying steadiness of $100,000 or extra.

Not all purchases are eligible to earn the Neatly Incomes Bonus. Purchases categorised within the classes listed under could also be excluded from incomes the Neatly Incomes bonus:
– Training/college, present playing cards, insurance coverage, or tax
– Enterprise-to-business transactions (i.e. promoting companies, development materials suppliers, and so on.)
– Transactions utilizing third-party invoice cost companies

These purchases will earn the bottom 2% money again and will not be calculated as a part of the $10,000 billing cycle cap.

The much less restrictive model is generally the identical, with the essential distinction being that your qualifying balances can nonetheless be held in an funding account. Due to reader Playc.

Up to date rewards incomes
You’ll proceed to earn limitless 2% money again on each buy with no caps.¹

The best way by which you earn a Neatly Incomes Bonus might be up to date as follows:
Earn as much as an extra 2% money again in your first $10,000 in eligible Web Purchases every billing cycle when paired with a U.S. Financial institution Neatly® Financial savings account and common each day mixed qualifying balances in U.S. Financial institution deposit, belief or funding accounts.¹
– Earn a complete of two.5% money again with a qualifying steadiness between $5,000 and $49,999.
– Earn a complete of three% money again with a qualifying steadiness between $50,000 and $99,999.
– Earn a complete of 4% money again with a qualifying steadiness of $100,000 or extra.

Not all purchases are eligible to earn the Neatly Incomes Bonus. Purchases categorised within the classes listed under could also be excluded from incomes the Neatly Incomes bonus:
– Training/college, present playing cards, insurance coverage, or tax
– Enterprise-to-business transactions (i.e. promoting companies, development materials suppliers, and so on.)
– Transactions utilizing third-party invoice cost companies

These purchases will earn the bottom 2% money again and will not be calculated as a part of the $10,000 billing cycle cap.

Sadly, I received the extra restrictive model. Which means they may have fully modified their marketed and promised options lower than 6 months from getting this card. Consequently, I might be closing my Neatly Checking, Neatly Financial savings, Neatly bank card, and US Financial institution brokerage account. Not a superb search for a spot that desires to be taken critically as one of many main nationwide banks. Unreliability shouldn’t be one thing most banks need to be identified for.

Replace 4/15/25: The rumors have been true and have taken impact as of 4/15/25. When you have not utilized but, I wouldn’t trouble. Given the spending cap and bonus class exclusions, in practically all circumstances, the potential misplaced curiosity on the required money deposits (incomes no curiosity) might be greater than any extra potential money again rewards earned. I think about this now principally a 2% money again card.

Replace 4/8/25: The identical Reddit consumer has posted follow-up particulars, and so they seem to substantiate the main points of the preliminary rumor. Please seek advice from the latest Reddit submit, screenshot #1, screenshot #2, and screenshot #3. They seem reputable in my view.

For current cardholders, no modifications have been introduced. Every thing is similar, for now. No $10k/month spending cap. Steadiness tiers are the identical. Funding account balances nonetheless rely. No new bonus class exclusions. Hope the grandfathering of loyal prospects lasts, as we went by means of a superb quantity of hassle transferring over important belongings.

For brand new cardholders that apply after April 14th, this card is not engaging above the bottom 2% money again. They’ll require the qualifying deposits to be held within the Neatly Checking or Protected Debit accounts, which earn zero or basically zero curiosity. Balances held in a brokerage account not qualify. Even balances held in their very own Neatly Financial savings account (at the moment as much as 3.50% APY) not qualify. Given the spending cap and bonus class exclusions, in practically all circumstances, the potential misplaced curiosity on this money might be greater than the extra potential money again rewards earned. Goodbye, Neatly, we hardly knew ye.

Replace 4/7/25: The rumors have gotten extra supporting proof. Reddit consumer Zanutrees posted this screenshot from an inner US Financial institution e-mail that seems to be reputable. The 2 most crucial quotes:

• “A revised U.S. Financial institution Neatly Visa Signature® Card is launching quickly and might be out there for utility in branches beginning April 14! Assets that can assist you put together for the launch of the revised card will turn out to be out there on Card Central tomorrow, April 8.“
• “It is very important observe that current Financial institution Neatly cardmembers in addition to any shoppers who utilized previous to April 14 will obtain the unique Financial institution Neatly Card options and advantages; the revised card options and advantages will solely have an effect on shoppers who apply for the cardboard on or after April 14.“

Total, the 2 actionable responses are the identical as under (apply ASAP or by no means). We simply received extra help behind the 4/14 deadline and the truth that they are going to be providing grandfathering (for an unspecified period of time).

Replace 4/2/25: Physician of Credit score reviews a Reddit rumor that the US Financial institution Neatly bank card might be present process some main unfavourable modifications as of 4/14/25. This contains:

• Base remains to be 2% money again on limitless quantities. Bonus money again (as much as one other 2% for a complete of 4%) is capped to $10,000 in purchases per assertion cycle.
• Bonus money again now excludes: Academic/college, present playing cards, insurance coverage, taxes, enterprise to enterprise transactions, and third celebration invoice funds.
• For brand new cardmembers after April 14th, solely checking account balances rely now in direction of the $10k/$50k/$100k deposit necessities. Critically, financial savings account balances and funding balances do not rely after 4/14 for brand spanking new cardmembers. Present prospects might be grandfathered in for now.

Once more, the above is a rumor. Nevertheless, I do consider the next are true:

• There may be principally no manner that this card can live on with out some type of added restrictions. 4% with no cap merely doesn’t math out, as I assure that some persons are paying $100,000 in school or personal college tuitions, $300,000+ in tax payments on this card, and who is aware of what number of enterprise transactions between “friendly” events…
• US Financial institution has a historical past of first rolling out a consumer-friendly product, after which later pulling it from the market or altering the options.
• US Financial institution additionally has a historical past of grandfathering in current prospects of these merchandise and persevering with to supply them some/the entire previous options.

Due to this fact, I see two potential actionable responses:

1. Giving up on this Neatly card and never making use of in any respect, and presumably avoiding the US Financial institution ecosystem altogether. It’s exhausting to work with unreliable folks. If these modifications happen, after 4/14 the misplaced curiosity on $100,000 in money will outweigh the additional 2% by a superb margin.
2. Working additional quick proper now so as to open up your US Financial institution Neatly financial savings account (this appears to be the simplest to open), then Neatly checking w/ bonus, then the US Financial institution self-directed brokerage account, fund it with $100,000, and apply for the Neatly bank card all as quickly as potential, undoubtedly earlier than the rumored 4/14 deadline. Reap the benefits of the truth that they in all probability need to grandfather in these present phrases no less than for a 12 months or so, in any other case in concept they might be bait-and-switching and would possibly get in hassle.

Since my final replace, I opened a brand new US Financial institution brokerage account, moved over $101,000 in money, after which invested all of it into the SGOV ETF that holds Treasury Payments. (I may have moved over inventory ETFs as a substitute, however I had the money out there.) I then utilized for the Neatly bank card and was accepted with a $25,000 restrict regardless of my earlier lack of “pre-approval”. I hoped that reaching their high rewards tier first would encourage them to approve my new card, and possibly it helped. I’m okay with accepting the rumored modifications so long as they grandfather me in on the brokerage balances; it may have been worse. What do you assume?

I simply took a fast have a look at the utility web page. Every thing nonetheless appears to be like the identical as earlier than as of as we speak. I did take some screenshots in case there are delicate modifications later.

Replace 11/11/24: Functions for this card are actually open. No sign-up bonus. It let me verify if I used to be “pre-approved” with a delicate pull (needed to unfreeze TransUnion for it to work), however I used to be not pre-approved. That is perhaps as a result of I not too long ago utilized for the Altitude Reserve (now-discontinued) after organising a Neatly Checking and Financial savings account to get “in” with them however was getting impatient (was denied for US Financial institution bank cards prior to now with out a banking relationship because of my geographic space). Should sit this one out for now, however plan to strive once more later in the event that they don’t pull it shortly.

Authentic pre-review submit:

US Financial institution not too long ago introduced the US Financial institution Neatly Visa Signature Card, a brand new rewards bank card that gives as much as 4% money again on all purchases, you probably have sufficient qualifying balances with them. That is the latest entrant to relationship banking, the place banks presents you additional perks for combining a number of account varieties with them like financial savings accounts and funding/retirement accounts.

The cardboard shouldn’t be open to purposes but, however you will get on an e-mail waitlist. Listed here are the main points of how that “up to 4% cash back” breaks down in keeping with this US Financial institution press launch and CNBC article.

Base rewards of two% money again on all purchases, with no restrict. Technically, this card earns 2 factors per $1 spent in eligible web purchases. So as get 2% money again, you could redeem these factors into an eligible U.S. Financial institution checking or financial savings account.

Bonus rewards of 0.5%, 1% or 2% money again primarily based in your qualifying mixed balances at US Financial institution. You need to even have an open Financial institution Neatly Financial savings account. Your qualifying mixed balances with U.S. Financial institution embrace “open consumer checking account(s), money market savings account(s), savings account(s), CDs and/or IRAs, U.S. Bancorp Investments and personal trust account(s).” Enterprise accounts, industrial accounts, and the Trustee solely (IFI) shopper relationship don’t qualify.

• $5,000 – $49,999.99 earns 2.5% complete money again. Whole of two.5 Factors per $1 (a base of two Factors plus the Neatly Incomes Bonus of 0.5 Factors),
• $50,000 – $99,999.99 earns 3% complete money again. Whole of three Factors per $1 (a base of two Factors plus the Neatly Incomes Bonus of 1 Level).
• $100,000+ earns 4% complete money again. Whole of 4 Factors per $1 (a base of two Factors plus the Neatly Incomes Bonus of two Factors).

Different bits: CNBC article reviews no annual price. Factors will expire if there isn’t any reward, buy, or steadiness exercise in your account for 12 consecutive assertion cycles. Financial institution Neatly Credit score Card and Financial institution Neatly Financial savings out there in all 50 states.

Financial institution Neatly financial savings account. Let’s take a better have a look at the Financial institution Neatly Financial savings account, which additionally earns distinction charges primarily based on each your steadiness contained in the Neatly financial savings account itself AND your qualifying mixed balances at US Financial institution. Right here’s their present rate of interest grid, up to date as of 9/3/2024.

Importantly, these charges can change at any time. However proper now, you probably have no less than $25k in Neatly and $25k in mixed qualifying mixed balances throughout US Financial institution, you will get the present high charge of 4.10% APY.

There may be additionally a $5 month-to-month upkeep price, which is waived you probably have a Financial institution Neatly® Checking account (or Protected Debit account which additionally prices $4.95 a month). The Financial institution Neatly® Checking account itself has a $6.95 month-to-month price, waived with $1,500+ common account steadiness, qualifying U.S. Financial institution client bank card, or mixed month-to-month direct deposits totaling $1,000+.

Due to this fact, technically should you get this bank card, that may make the Financial institution Neatly Checking account free, which in flip would make the Financial institution Neatly Financial savings account free. Proper now there may be additionally a $450 bonus for brand spanking new Financial institution Neatly Checking prospects with a direct deposit requirement.

Tough alternative prices with depositing money at Financial institution Neatly Financial savings. Let’s strive some tough theoretical numbers. Let’s say you even have $100,000 in money mendacity round, however you might get ~5.10% APY elsewhere and so you’ll be giving up ~1% APY to park your cash at US Financial institution as a substitute. When you held all of it at Financial institution Neatly Financial savings to qualify for the 4% money again on the bank card, you’d be giving up $1,000 in taxable curiosity every year ($100,000 x 1%).

In trade, you might be getting 2% additional money again over your current, flat 2% money again card. Money again rewards are typically thought of non-taxable as they’re a rebate in your buy. When you assume a marginal tax charge of 0% (that is only a guess), then you definately’d want $50,000 in annual purchases ($4,166 a month) at 2% additional money again to interrupt even with the hit from the decrease curiosity. When you assume a marginal tax charge of twenty-two%, then you definately’d want rather less: $39,000 in annual purchases ($3,350 a month) at 2% additional money again to interrupt even with the hit from the decrease curiosity.

US Financial institution self-directed investments accounts! As with the Financial institution of America Most popular Rewards program, another method to fulfill the steadiness necessities with minimal alternative prices is to switch over current belongings right into a self-directed US Financial institution brokerage account. For instance, you might switch over $100,000 in index ETFs inside an IRA or taxable brokerage account. This would seem to completely fulfill the necessities as a “U.S. Bancorp Investments” account. This fashion, US Financial institution additionally will get a stronger foothold on the planet of wealth administration, as all of the banks appear to need today.

Watch out although, as US Financial institution’s self-directed brokerage account has a barely greater price schedule than a lot of the competitors. Inventory trades are $4.95 every, though you get 100 free trades per calendar 12 months you probably have each a Financial institution Neatly Checking account and paperless statements. There’s a $50 annual account price and a separate $50 annual IRA price; these are waived you probably have $250,000 in mixed assertion family balances.

My fast take. If all of those particulars truly maintain by means of launch, they might be a possible enchancment over the perfect present scenario of two.62% money again on all purchases by way of the Financial institution of America Most popular Rewards program (additionally requires $100k in belongings held at BofA) and a BofA money again bank card. (The Robinhood 3% bank card remains to be “coming soon”.) However will it final? Even the BofA 2.62% has remained one thing of an outlier, however my hunch is that it has inspired sufficient of individuals to maintain a ton of money at BofA incomes zero curiosity in order that BofA remains to be completely happy general. Provided that this new US Financial institution program truly presents an honest rate of interest and a good greater money again charge, I’m involved about its longevity. However, possibly that is US Financial institution’s huge push to turn out to be a significant participant on the nationwide stage of Financial institution of America or Chase.

I’d need to open plenty of new accounts to go for this one. Financial savings account, brokerage account, bank card, transfer over belongings, all for a bonus that’s primarily based on my bank card spend so will trickle in slowly. (None of those have an enormous upfront bonus.) Given the quantity of shady stuff US Financial institution will in all probability need to cope with when paying 4% money again, I’d additionally need to belief that it’ll final lengthy sufficient to be definitely worth the effort.

US Financial institution has a historical past of creating playing cards after which pulling them from the market, however typically additionally they let the grandfathered customers maintain the previous perk system. Hmm…

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