The Smart Investor has collected card information independently. Issuers did not provide the details, nor are they responsible for their accuracy. The review is not a recommendation, the actual rates/fees may be different.
U.S. Bank Cash+ Visa Signature Card is a Visa credit card issued through one of the largest US lending institutions, U.S. Bank.
With the U.S. Bank Cash+ Visa Signature Card you can earn 5% cashback on your first $2,000 in combined eligible purchases each quarter on two categories you choose. You also earn 2% on one everyday category, like gas stations, grocery stores or restaurants, and 1% on on all other eligible purchases.
This card also has a generous sign-up bonus and an 12 months introductory 0% rate on balance transfers, and the card has no annual fee. U.S. Bank Cash+ Visa Signature card offers a $150 cashback bonus after you spend $500 on your new card within the first 90 days on eligible purchases
It is also a signature branded card meaning there are additional protections and benefits offered through Visa.
Our Bottom Line
- Maximize Casj Back on Everyday Purchases
Credit Rating Requirements
- Good - Excellent Credit
PROS
- Cashback Sign-Up Bonus
- 0% APR Introductory Rate on Balance Transfers
CONS
- Restriction on Cash Bonuses
- Balance Transfer Fee
Highlights
- 5% back on category purchases (picked by cardholder)
- 2% cash back on everyday purchase categories
- 1% cash back on all other spending
- 13.99% - 23.99% APR
Here’s a summary of the main pros & cons (click to see explanation or scroll down):
Pros
Cons
Benefits
Let’s take a look at the benefits of the U.S. Bank Cash+ Visa Signature card and see if it’s the right one for your wallet or not.
- Cashback Sign-Up Bonus
U.S. Bank Cash+ Visa Signature card offers a $150 cashback bonus after you spend $500 on your new card within the first 90 days on eligible purchases
- 5%,%2, %1 Cash Back
U.S. Bank Cash+ Visa Signature card earns 5% back on purchases that the cardholder chooses. This 5% applies up to $2,000 in spending each quarter.
You can also earns 2% cash back on everyday purchase categories such as gas or groceries and 1% cash back on all other spending.
- 0% APR Introductory Rate on Balance Transfers in the First 12 Months
If you are looking to save money on interest, the U.S. Bank Cash+ Visa Signature card offers a 0% introductory rate for 12 months on balance transfers.
If you have a credit card that you are trying to pay down, you can transfer the account and pay no interest on the transfer for 12 months.
- No Minimums for Redemption
The U.S. Bank Cash+ Visa Signature card does not have a minimum for the redemption of rewards.
- Choose Spending Categories
U.S. Bank Cash+ Visa Signature card allows cardholders to pick their spending categories. Many other cards in the market do not allow their customers to choose their categories, but do let the cardholder know what the category is every quarter.
- Visa Signature Card
This card is a Visa Signature card and as such it offers many perks and protections though VIsa. These include:
- Purchase Security
- Auto Rental Collision Damage Waiver
- Lost Luggage Reimbursement
- Travel and Emergency Assistance
- Extended Warranty
- Roadside Assistance
- 24/7 Concierge Service
Drawbacks
Here are the most important cons you should consider before apply to the U.S. Bank Cash+ Visa Signature card:
- Restriction on Cash Bonuses
U.S. Bank Cash+ Visa Signature card will issue rewards in cash to customers of U.S. Bank. If you are not a U.S. bank customer, you cannot receive your reward in cash. U.S. Bank customers can have their cash rewards deposited directly into their bank account.
- 2%-3% Foreign Transaction Fee
The U.S. Bank Cash+ Visa Signature card has a foreign transaction fee of 2-3%. If traveling, leave this card at a home for one that does not have the fee.
- Balance Transfer Fee
There is a balance transfer fee required if you want to take advantage of the introductory 0% APR rate. The fee is incurred when you transfer debts from one or more credit cards to your U.S. Bank Cash+ Visa Signature card.
This fee is $5 or 3% of the transfer, whichever is bigger. This fee is upfront and will be added to your debt load when transferred.
- Opt in Every Quarter
Cardholders of the U.S. Bank Cash+ Visa Signature Card need to opt in or choose their purchase categories every quarter. This requires cardholders to keep track of when they need to choose their spending categories.
This can be a pain for some customers to keep track of. If you do not opt in, your spending will default to the 1% cash back on all spending.
- 0% Introductory Rate Applies Only to Balance Transfers
U.S. Bank Cash+ Visa Signature card introductory rate only applies to balance transfers and not purchases. If you are looking for a long introductory rate for a major purchase, this may not be the card for you.
Alternatives to U.S. Bank Cash+ Card
There are several other great options out there for cash back rewards credit cards that offer lucrative sign up bonuses, competitive cash back rates, and attractive intro APR periods.
Let’s review a few of our top choices as alternative options to the U.S. Bank Cash+ Card:
- U.S. Bank Visa Platinum Card
Though it doesn’t offer any late-payment forgiveness, this option counters it with a long 20-month intro 0% APR period on both purchases and balance transfers. Those matching periods ensure you’re not left with a gap that could result in accidental interest accruement on purchases.
In addition, the U.S. Bank Visa Platinum does not have an annual fee.
The U.S. Bank Visa Platinum Card has a variable APR range between 13.99% and 23.99%, based on your creditworthiness.
The Chase Sapphire Credit card is in their top spot in regards to the best traveling and dining cards as they offer you 2X more points compared to other cards. In addition, Chase Bank offers a 25% point’s bonus, whenever you redeem the points for travel.
The card offers a sign-up bonus of 60,000 points when you spend more than $4,000 on any purchases in the first 90 days. This is equivalent to $750 in travel costs when you redeem your travel rewards.
You shall also earn 2x points while traveling and dining at a variety of restaurants around the world and one point on the dollar on any other purchases. If you use any Lyft rides from now up to March 2022, you shall earn 5X points.
However, with all of these rewards, you should note that the card has an annual fee of $95. The APR range between 15.99%–22.99%, depends on your credit worthiness.
Bank of America Cash Rewards is a cashback rewards card that allows card holders to pick their own bonus category for the 3% cashback rewards. It also offer 2% back on groceries and 1% back on all other spending.
Bank of America Cash Rewards does not have an annual fee and you’ll get $200 cashback bonus after you spend $1,000 on your new card within the first 90 days on eligible purchases. If you are looking to save money on interest, the Bank of America Cash Rewards offers a 0% introductory rate for 15 months on balance transfers. However, there is a 3% balance transfer fee required if you want to take advantage of the introductory 0% APR rate.
The APR for the Bank of America Cash Reward is a 13.99%-23.99% variable rate.
Is the U.S. Bank Cash+ Card Right for You?
U.S. Bank Cash+ Visa Signature card Is best for consumers who are looking to maximize their cash back and do not mind keeping track of the opt-in spending categories.
Customers considering this card may want to review the spending categories that earn 5% cash back to make sure their spending habits will maximize their cash back. There are many other cashback rewards cards that don’t require keeping track of opting in every quarter. There are other cashback rewards cards that choose categories for you, but many times you still have to opt in.
If you miss opting in for the quarter on your chosen purchase categories, you will receive only 1% cash back on all your spending. This card has an average foreign transaction fee of 3% so if you travel a lot you may want to leave this card at home. This card also has a 12 month 0% APR introductory rate on balance transfers only.
If you are looking to charge up the card or make a large purchase and pay over time, you may want to look at another card. The 5% cash back on certain purchase categories may catch many consumers eyes, but if you do not spend large amounts in those categories the U.S. Bank Cash+ Visa Signature card may not be the best option for you.