Cash Plus Rewards – The gig is up no more 5% back on all purchases at Wal-Mart

Cash Plus Rewards – The gig is up no more 5% back on all purchases at Wal-Mart

Late last week I received a letter for both of my Chase Cash Plus Rewards credit cards stating that I would no longer be earning 5% back for my purchases made at superstores, warehouse clubs, and discount stores. This really sucks because my family and I do almost all of our shopping at Wal-Mart and it was just amazing how fast we racked up the rewards. Nearly all our Christmas shopping, home supplies, etc getting 5% back was a big deal.

In the past, you may have earned 5 points on purchases made at superstores, warehouse clubs, and discount stores. Since these merchants are not recognized as gas stations, stand alone grocery stores, and drug stores, purchases made at these stores will now qualify to earn 1 point per $1 spent. This change will be effective your May 2007 statement. Please be assured that your maximum point accumulation and other rules for your rewards program remain unchanged.

I knew this was too good to be true and would come to an end some day, but I guess I’m just glad it lasted for the 2 years or more that it did. I’m sure Wal-Mart isn’t too excited about this change as I’m sure I’m not the only one who knew about this little glitch in the system and I’m sure people are now going to change their shopping habits (at least grocery). Which to be honest, Wal-Mart’s produce never seemed to be that high quality so grocery shopping somewhere else won’t be the end of the world for me. It’s just getting 5% back on a TV, wheel borrow, or basketball hoop that I’m going to miss.

Irregardless it’s still probably the best rewards card available as the days of 5% rewards on anything for any longer than an introductory period are gone. Unfortunately I don’t think you can get the Chase Cash Plus Rewards card anymore from Chase. They took it off their website a long time ago and the only way you could get it was by applying at a local Chase bank branch. I’m not sure you can do that anymore either. Either way short of this change, they seem to be honoring the terms of the original program and 5% back on all groceries, gas, and drugs is still a good deal.

  • That’s a shame. I’m beginning to think this isn’t a coincidence. Its happened too many times to others and myself. I had a GM card that had great savings but then they leveled them out when I was only a third of the way to the savings I needed for a good car discount.

    I think this is the business model for these companies. Lure a ton of people in with good benefits, then take them down a bit. Many people might get agitated but probably 75% will still keep the card. This is probably most true with the cards with the best benefits.

    Maybe you need to switch cards every year or so just to keep up with the best offers. I just got the Chase card with 3% back on groceries and gas and I just found another card with 1.4% back on everything. I’ll probably switch to those 2 for a year or so and see what happens.

  • Joe Banks

    I never shop at any of the Big Box stores (Communist China gets enough of my money elsewhere) so this change won’t affect me in the least. I’ll still be getting 5% back at Trader Joes!

  • Yes, this card is no longer available, even at Chase branches. I believe these cards are costing more money than the company is making in interest because all the smart people get them and pay the balances each month.

    I’ll miss it, too. And Wal-Mart produce and meat do suck.

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