U.S. Bank Cash+® Visa Signature® Card review
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U.S. Bank Cash+® Visa Signature® Card Overview
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.
What are the pros and 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.
A deeper look into the current card offer
- 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) plus 5 percent back on prepaid airfare, hotel stays and car rentals through the Rewards Travel Center; 2 percent cash back on one choice everyday category; 1 percent back on all other purchases
- Welcome offer: $200 rewards bonus after you apply online and spend $1,000 in eligible purchases within the first 120 days of account opening.
- Annual fee: No annual fee
- Purchase Intro APR: 0 percent intro APR offer for 15 billing cycles
- Balance transfer intro APR: 0 percent intro APR offer for 15 billing cycles if you transfer a balance in the first 60 days of opening your account
- Regular APR: 15.99 percent to 25.99 percent variable
Current welcome offer
If you spend $1,000 in eligible purchases with your U.S. Bank Cash+ Visa Signature in the first 120 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 $1,000 in three months is not a particularly challenging hurdle.
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 that 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, you can easily max out the 5 percent cash back bonus before the quarter ends and then earn 1 percent back on each purchase.
Although the bonus category selections may vary from quarter to quarter, U.S. Bank typically keeps the available roster consistent enough to reasonably rely on. Currently, 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
- 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. The current category choices are:
- Gas an EV charging stations
- Grocery stores
Fortunately, you also have the ongoing opportunity to earn 5 percent cash back on prepaid airline, hotel and rental car bookings through the issuer’s Rewards Travel Center. 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 rewards as a statement credit (something that will lower your credit card bill), direct deposit cash back to a U.S. Bank account (savings, checking or money market), a U.S. Bank Rewards Card (a prepaid card) or Real-Time Rewards. The previous redemption options are self-explanatory, but Real-Time Rewards is a somewhat new addition that allows you to immediately redeem your saved up rewards to cover an entire purchase with a statement credit. All you have to do is register your cellphone and list your preferences to single out purchases that you’d typically want your rewards to cover—after that, you’ll get texts after suitable purchases asking if you’d like to use your rewards to offset them.
You’ll need at least $25 in cash back to redeem your rewards for any option (except for Real-Time Rewards, which have a $10 minimum reward redemption requirement) and U.S. Bank Rewards Cards can only be redeemed in $5 intervals starting at that total. However, unlike many issuers that ensure your rewards won’t expire for the life of your account, your U.S. Bank cash back will expire 36 calendar months after they were earned (at the end of that month). With that in mind, make sure you don’t sit on your rewards for too long.
How much are the rewards worth?
How much you receive in cash back depends on how much you spend each year. But if you spend $2,000 a quarter in the 5 percent category, $1,000 per year in a 2 percent category and $500 per month in the 1 percent category, you’ll have earned about $480 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 $1,000 in eligible purchases within the first 120 days of opening your account—you’ll have about $680 in cash back rewards by the end of your first year.
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 EV charging stations, 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: 15.99 percent to 25.99 percent variable, based on your creditworthiness
- Intro APR for new purchases: 0 percent introductory APR for the first 15 billing cycles. After that, the APR for purchases is 15.99 percent to 25.99 percent (variable)
- Intro APR for balance transfers: 0 percent introductory APR for the first 15 billing cycles on balances transferred within 60 days after opening your account. After that, the APR for balance transfers is 15.99 percent to 25.99 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 $41
- Returned payment fee: Up to $41
- 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, such as the Capital One SavorOne Cash Rewards Credit Card. Or, maybe you’ll supplement the card with one that provides more rewards when you shop online, such as the Bank of America® Customized Cash Rewards credit card.
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 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, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), plus 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 Customized Cash 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. The card also offers 2 percent cash back at grocery stores and wholesale clubs (up to $2,500 in combined purchases each quarter between the 3 percent and 2 percent categories) 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.