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Heads up, fellow award travelers! If you're one of the many who opened a U.S. Bank brokerage account to snag that sweet 4% cashback on the grandfathered Smartly Visa, there's a change coming that you need to know about. U.S. Bank is nixing the perk of 100 free trades per year, starting in February 2026.
Basically, U.S. Bancorp Investments (USBI) is merging its retail biz into U.S. Bancorp Advisors (USBA). As a result, that Smart Rewards benefit of 100 free trades annually with a self-directed brokerage account is biting the dust.
Now, most of us probably parked $100k in those accounts and didn't actively trade much, but it's still worth noting. If you were using those free trades, you'll need to adjust your strategy or find a new brokerage before February 16, 2026. Thanks to readers RV and Precisely for the tip!
Why This Matters for Your Strategy
News in the points-and-miles world moves fast, and promotional changes often have a short window. If this announcement affects a card or program you hold, log into your awardtrail dashboard to check your current benefit usage, bonus progress, and whether a transfer or redemption makes sense right now — before terms change.
As a general rule: transfer points only when you have a specific redemption in mind — transfers are almost always one-way and non-reversible. If you're unsure of the value, check our redemption guides before acting.
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