U.S. Bank Cash+™ Visa Signature® Card review

Best for big cash-back rewards tailored to your spending habits

• Rewards rate: 5 percent cash back on purchases in two categories of your choice (up to $2,000 in combined purchases per quarter, then 1 percent): 2 percent cash back on one everyday category; 1 percent back on all other purchases
• Welcome offer: $200 bonus when you make $500 in eligible net purchases in the first 90 days
• Annual fee: No annual fee
• Purchase APR: 13.99 percent to 23.99 percent variable
• Balance transfer intro APR: 0 percent intro APR offer for 12 months if you transfer a balance in the first 60 days of opening your account
• Regular APR on balance transfers: Balance transfers after first 60 days have an APR of 13.99 percent to 23.99 percent

Looking to generate plenty of cash back with your next credit card? The U.S. Bank Cash+™ Visa Signature® Card could be the right choice.

This card offers a generous rewards structure of 5 percent cash back on purchases you make in two spending categories of your choice (up to $2,000 in combined purchases per quarter, then 1 percent), meaning you can tailor your cash back bonuses to your spending habits. If you’re always looking for the latest electronic gadgets, you can select cash back for purchases made at electronics stores, for example. Ready to furnish your apartment or home? You can instead select furniture stores to earn heightened cash back rewards.

If you use this cash back credit card wisely, you could generate plenty of cash on the purchases you’re most likely to make.

Current welcome offer

If you spend $500 in eligible purchases with your U.S. Bank Cash+ Visa Signature in the first 90 days of opening your account, you’ll earn a $200 rewards bonus. This might not be the most generous welcome reward, but it is an easy one to attain; spending $500 in three months is not a particularly challenging hurdle.

Cash back

One of the selling points of the U.S. Bank Cash+ Visa Signature is its flexible cash back rewards program. Depending on your purchases, you can earn cash back at one of three levels.

Earning cash back

Each quarter, you have the option of choosing two spending categories that will earn you 5 percent cash back. Just be aware: you’ll only earn that 5 percent cash back on up to $2,000 worth of combined purchases each quarter in your two categories. If you spend too much, then, you can easily max out the 5 percent cash back bonus before the quarter ends, then earning 1 percent back on each purchase.

For the fourth quarter of 2020, the 5 percent cash back categories are:

• TV, Internet and streaming services
• Home utilities
• Ground transportation
• Select clothing stores
• Cellphone providers
• Electronics stores
• Gyms and fitness centers
• Fast food outlets
• Sporting goods stores
• Department stores
• Furniture stores
• Movie theaters

You can also earn 2 percent cash back on all purchases you make in one everyday category. For the fourth quarter of 2020, those categories are:

• Gas stations
• Restaurants
• Grocery stores

You’ll earn 1 percent cash back with all other purchases you make with your card. Be sure to select your categories each quarter, because if you don’t, all purchases will earn just 1 percent cash back.

Redeeming cash back

You have options when it comes to redeeming your cash back rewards. You can choose to receive your cash back as a statement credit, something that will lower your credit card bill, or you can have your cash back deposited to a U.S. Bank savings, checking or money market account or receive it as a U.S. Bank Rewards Card. For this last option, you’ll need at least $20 in cash back.

How much are the rewards worth?

How much you receive in cash back depends on how much you spend. But if you spend $5,000 a quarter in the 5 percent category, $1,000 in the 2 percent category and $500 in the 1 percent category, you’ll have earned about $500 worth of cash back at the end of your first year with the U.S. Bank Cash+ Visa Signature.

If you also qualify for the $200 bonus—which you’ll get by charging $500 in eligible purchases within the first 90 days of opening your account—you’ll have about $650 in cash back rewards by the end of your first year.

Benefits

The U.S. Bank Cash+ Visa Signature is ideal for people who like plenty of flexibility with their rewards programs, as well as consumers who spend a lot of money on certain items. For example, if you’re constantly charging quick-service lunches to your card during the week, you can select “fast food purchases” as your quarterly bonus category. If you have a favorite apparel store, on the other hand, you can choose the clothing store category for heightened cash back rewards.

Another perk? You can also choose two other categories for 2 percent cash back. These categories include gas stations, restaurants and grocery stores—retailers that most cardholders will charge plenty of purchases at throughout a year.

Flexible cash back redemption

You can receive your cash back as a statement credit, rewards card or a deposit to a U.S. Bank checking or savings account.

Zero fraud liability

This perk protects you in case someone uses your card to make fraudulent purchases in your name.

Rates and fees

• APR: 13.99 percent to 23.99 percent variable, based on your creditworthiness
• APR for balance transfers: 0 percent introductory APR for the first 12 billing cycles for balances transferred within 60 days after opening your account. After that, the APR for balance transfers is 13.99 percent to 23.99 percent variable
• Annual fee: $0
• Balance transfer fee: 3 percent of the amount of each transfer or $5, whichever is greater
• Foreign transaction fee: 2 percent of each foreign transaction in U.S. dollars and 3 percent of each foreign transaction in a foreign currency
• Late payment fee: Up to $40
• Returned payment fee: Up to $35
• Overlimit fee: $0

How the U.S. Bank Cash+ Visa Signature compares to other cash back cards

There are plenty of other credit cards that you can choose as a supplement to the U.S. Bank Cash+ Visa Signature. You might, for instance, choose a credit card that provides greater cash back rewards when you dine at restaurants. Or, maybe you’ll supplement the card with one that provides more rewards when you shop online.

Best cards to pair with the U.S. Bank Cash+ Visa Signature

The U.S. Bank Cash+ Visa Signature provides plenty of flexibility for consumers hoping to earn cash back for their purchases each month. But that doesn’t mean you can’t find other credit cards that can provide an even bigger boost to your cash back savings when you pair them with the Cash+ Visa Signature.

The Capital One SavorOne Cash Rewards Credit Card is a good choice if you plan on spending plenty of money at restaurants and on entertainment in the future. The card provides unlimited 3 percent cash back on dining and entertainment purchases, as well as 2 percent cash back at grocery stores and 1 percent on all other purchases.

When you pair this with the Cash+ Visa Signature, you could earn 3 percent cash back at your favorite restaurants while also earning 5 percent cash back at furniture stores, sporting goods stores, gyms and department stores (on up to $2,000 in combined purchases each quarter). It can add up to a significant amount of cash back each month.

The Bank of America® Cash Rewards credit card is a solid addition to your wallet when it comes to online shopping. This card provides 3 percent cash back in the category of your choice, with one of those categories being online shopping (up to $2,500 in combined purchases each quarter). The card also offers 2 percent cash back at grocery stores and wholesale clubs and 1 percent back on all other purchases.

By combining this with your Cash+ Visa Signature, you’ll get a good amount of cash back whether you’re shopping online or at brick-and-mortar locations.

Bankrate’s Take—Is the U.S. Bank Cash+ Visa Signature worth it?

The Cash+ Visa Signature is a nice choice if you spend a lot each month on the card’s set of spending categories. But if you spend too much in those 5 percent categories (over $2,000 every three months), you might blow past the spending limit each quarter. If you’re worried about spending too much, it might make more sense to choose a credit card that comes with flat-rate cash back on all purchases.

Pros

• Flexibility: You can tailor your cash back rewards to reflect the products and services on which you spend the most each month.
• No annual fee: You won’t have to pay an annual fee for this card. If you’re interested in other top credit cards that are free to use, check out Bankrate’s review of no annual fee credit cards.

Cons

• Spending limits: The chance of earning 5 percent cash back on some purchases is nice, but you’re limited to just $2,000 worth of combined purchases in these categories each quarter. If you’re a frequent shopper, it could be easy to hit that limit each quarter.
• Not many perks: The Cash+ Visa Signature doesn’t come with many additional perks. The benefits pretty much end with the welcome bonus.