U.S. Bank is one of the largest brick-and-mortar banks in the US. On the other hand, American Express Bank is among the best online banks, and both offer a great portfolio of credit cards
Let's compare their banking products side by side.
Checking Accounts
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Account Types
U.S. Bank Account | Monthly Fee | Average Day Balance To Waive |
|---|---|---|
U.S. Bank Smartly Checking | $6.95 | $1,500 |
Safe Debit
| $4.95 | Cannot be waived |
Bank Account | Monthly Fee | APY On Balance |
|---|---|---|
Amex Rewards Checking | $0 | 1.00% |
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Features
The Safe Debit account is a checkless alternative with overdraft protection, no overdraft fees, and bonus features like free credit score access, alerts, and budget tools.
U.S. Bank's Smartly Checking is a budget-friendly option, featuring interest earnings, a $50 overdraft grace, and easy management with low balance alerts, mobile check deposit, and automated budgeting tools.
Both accounts provide mobile and online banking access, catering to diverse financial needs with a focus on affordability, convenience, and additional perks.
U.S. Bank Account | Main Features |
|---|---|
U.S. Bank Smartly Checking | Smart Rewards, transfer money, set alerts, $50 overdrawn available |
Safe Debit
| Directly deposit paychecks, pay bills for free, no overdraft fees |
Amex Rewards Checking lets customers earn Membership Rewards points on eligible Debit Card purchases without any monthly fees. Amex provides round-the-clock customer service and fraud monitoring for added security.
Using the Amex App, mobile check deposits become effortless, and digital transfers make it simple to move money between linked accounts, including the Amex High Yield Savings account.
Moreover, you have the option to add your debit card to your digital wallet, allowing for speedy and convenient payments both in-store and online.
Bank Account | Main Features |
|---|---|
Amex Rewards Checking | Interest on balance, mobile check deposits, digital transfers, debit card with purchase protection, rewards your everyday spending
|
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Savings Accounts
When it comes to savings accounts, American Express bank is a clear winner with competitive rates, no fees, and a bunch of perks for savers.
With American Express, customers can earn a competitive APY on their balance. Managing savings is easy with features like simple transfers and auto-deposits, and you'll have access to 24/7 customer service.
Like many brick-and-mortar banks, U.S. bank savings accounts offer relatively low rates.
U.S Bank Savings Account | Amex Savings Account | |
|---|---|---|
Savings Rate | up to 4.25% | 4.25% |
Minimum Deposit | $0 | $0 |
Fees | $4
can be waived by $300+ daily ledger balance or $1,000 average monthly balance
| $0 |
Certificate Of Deposits (CDs)
When comparing CD options, there is no clear winner. Both Amex and U.S. Bank offer high rates only on specific CD terms.
While it may be okay for most consumers, it isn't the ideal situation for high depositors who want to to leverage CD investing strategies such as CD laddering and other combinations of short and long-term CDs.
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U.S. Bank CD Rates
CD Type | CD Term | APY |
|---|---|---|
Standard CD
| 6 Months | 0.05% |
Standard CD
| 12 Months | 0.05% |
Standard CD
| 24 Months | 0.05%
|
Standard CD
| 36 Months | 0.10%
|
CD Special | 7 Months | 4.00% |
CD Special | 11 Months | 3.80% |
CD Special | 13 Months | 4.80% |
CD Special | 19 Months | 4.95%
|
Step Up CD
| 28 Months | 0.35% |
Trade Up CD | 30 Months | 0.10% |
Trade Up CD | 60 Months | 0.40% |
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American Express CD Rates
CD Term | APY | Early Withdrawal Penalty |
|---|---|---|
12 Months | 4.35% | 270 days interest |
18 Months | 3.25%
| 270 days interest |
24 Months | 4.00% | 270 days interest |
36 Months | 3.00% | 270 days interest |
48 Months | 3.00% | 365 days interest |
60 Months | 3.00% | 540 days interest |
Top Offers From Our Partners
Top Savings Accounts From Our Partners
Quontic High Yield Savings
- 4.50% APY on savings
- Interest is compounded daily
- No Monthly Service Fees
CIT Savings Connect
- Up to 5.00% APY on savings
- No monthly service fees.
- Zelle, Samsung & Apple Pay
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
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Credit Cards
American Express wins when it comes to credit cards. It is one of the top credit card issuers in the US, with many cards and different types of cards, co-branded cards, and various redemption options.
For everyday use, there are simple cards like the Blue Cash Everyday Card® and the Blue Cash Preferred® Card from American Express. If you're a more advanced user, Amex has fancier cards such as the American Express Gold® Card or The Platinum Card® from American Express.
Amex also has travel co-branded cards with different levels and perks. If you love Delta Air Lines, their cards give you Delta SkyMiles and cool benefits like boarding early and free checked bags. And if you're a fan of Marriott or Hilton hotels, their cards offer free nights, elite status, and bonus points when you stay at their hotels.
Card | Rewards | Bonus | Annual Fee |
| Blue Cash Preferred® Card from American Express | 1-6%
6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit
and U.S. gas stations, 1% cash back on other purchases
| $250
$250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
| $95 ($0 intro for the first year) |
|---|---|---|---|---|
| American Express® Gold Card | 1X – 4X
4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
| 60,000 points
60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership. Plus, receive 20% back in statement credits on eligible purchases made at restaurants worldwide within the first 6 months of Card Membership, up to $100 back. Limited time offer. Offer ends 11/6/24.
| $325 |
| The Platinum Card® from American Express | 1X – 5X
5X points on up to $500,000 spent on directly-booked airfare and flights and prepaid hotels booked through American Express Travel (per calendar year), 2X points on prepaid car rentals through American Express Travel and 1X points on all other purchases
| 80,000 points
80,000 Membership Rewards® points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership
| $695 |
| Delta SkyMiles® Gold American Express Card | 1X – 2X
2X miles on delta purchases, at restaurants worldwide (including take-out and delivery in the U.S) and at U.S. supermarkets, and 1x miles on all other eligible purchases
| 40,000 Miles
40,000 Bonus Miles after you spend $2,000 in purchases on your new Card in your first 6 months
| $150, $0 intro first year |
| Hilton Honors American Express Card | 3X – 7X
7X Hilton Honors Bonus Points for each dollar of eligible purchases charged directly with hotels and resorts within the Hilton portfolio, 5x points at U.S. restaurants (including takeout and delivery) U.S.supermarkets, U.S. gas stations and 3x points for each dollar on other eligible purchases
| 70,000 points
70,000 Hilton Honors Bonus Points after you spend $2,000 in purchases on the Card in the first 6 months of Card Membership
| $0 |
Card | Rewards | Bonus | Annual Fee |
| U.S. Bank Shopper Cash Rewards | 1.5% – 6%
6% cash back on your first $1,500 in combined eligible purchases each quarter at two retailers you choose, 3% back on your first $1,500 in eligible purchases each quarter on your choice of one everyday category, 1.5% back on all other qualifying purchases. Also, 5.5% back on reservations for hotels and prepaid car rentals when you book through the U.S. Bank Rewards Center.
| $250
$250 bonus after you spend $2,000 in eligible purchases within the first 120 days of account opening
| $95 ($0 on first year) |
|---|---|---|---|---|
| U.S. Bank Cash+® Visa Signature® Card | 1% – 5%
5% cash back on purchases in two categories of your choice (up to $2,000 in combined purchases per quarter, then 1 percent). 5% back on prepaid air, hotel, and car reservations through the Rewards Center. 2% cash back on one choice everyday category. 1% back on all other purchases
| $200
$200 bonus after spending $1,000 in eligible purchases within the first 120 days of account opening.
| $0 |
| U.S. Bank Altitude® Go Visa Signature® Card | 1X – 4X
4x points at restaurants, take-outs & deliveries, 2x points at supermarkets, gas stations & streaming servicesm and 1 point for 1 dollar on all other purchases
| 20,000 points
20,000 bonus points when you spend $1,000 in eligible purchases within the first 90 days of account opening
| $0 |
| U.S. Bank Altitude Connect Visa Signature Card | 1X – 5X
5X points on prepaid hotels and car rentals booked directly in the Altitude Rewards Center; 4X points on travel, gas stations, and EV charging stations; 2X points on grocery stores, grocery delivery, dining, and streaming services; and 1X points on all other eligible purchases
| 60,000 points
60,000 points after spending $6,000 in eligible purchases on the account owner's card within the first 180 days from account opening
| $95 (waived first year) |
| U.S Bank Altitude Reserve Visa Infinite Card | 1X – 5X
5 points per dollar on prepaid hotels and car rentals booked directly in the Altitude Rewards Center, 3 points per dollar on eligible travel purchases and mobile wallet spending and 1 point per dollar on all other eligible net purchases
| 50,000 points
50,000 points worth $750 on travel after spending $4,500 in the first 90 days of account opening
| $400 |
Mortgage And Loans
When it comes to borrowing money, U.S. Bank offers more options for borrowers than Amex.
U.S. Bank offers mortgages for homebuyers, mortgage refinancing, home equity loans, personal loans, and car financing for both new and used vehicles.
Neither Amex or U.S. Bank offer student loans or other special loans such as boat or RV loans.
Which Bank Is Our Winner?
Our preferred choice is American Express, providing a comprehensive banking package that outshines U.S. Bank, especially for those with deposit requirements.
While both banks offers good checking options and credit card offerings, if you're looking for a high-rate savings account to park your money, American Express is the exclusive option. Conversely, U.S. Bank stands out for its physical locations and offers more favorable options for borrowers compared to American Express.
That being said, it is crucial to assess various factors, primarily focusing on those that are significant for your specific needs. This could include banking services, overdraft assistance, frequent ATM usage, proximity to bank locations, and other elements that vary from person to person.
Our Methodology: Breaking Down Bank Comparisons
In our thorough banking comparison, The Smart Investor team carefully reviewed and compared banks across five key categories:
Checking Accounts (30%): We examined features like direct deposit, debit card availability, monthly fees, ATM and branch access, check deposit, bill pay options, and account alerts. We also considered any special offers available to customers.
Savings Accounts and CDs (20%): Our focus was on important factors such as the Annual Percentage Yield (APY), minimum deposit requirements, account flexibility, FDIC insurance coverage, special savings offers, variety of CDs, automatic renewal options, and early withdrawal penalties.
Credit Cards (15%): We analyzed rewards programs, annual fees, introductory bonuses, travel benefits, APR, and balance transfer options offered by each bank's credit cards to provide a comprehensive comparison of available features.
Lending Options (15%): We assessed the variety of loan options provided, including personal loans, student loans, mortgages, secured loans, HELOCs, and Home Equity Loans, offering insights into the banks' lending capabilities.
Customer Experience and Bank Reputation (20%): Our evaluation included an analysis of online banking and mobile app usability and ratings, accessibility of customer support, online reviews, JD Power research, Trustpilot ratings, and overall financial stability, providing a holistic view of customer experience and reputation.
Compare U.S. Bank With Other Banks
US Bank offers an even more impressive range of banking services. Savings and checking account options, investments, personal loans, mortgage products, and wealth management are all available.
Bank of America offers a wide range of banking services. There are numerous credit cards available, as well as various checking and savings accounts, home loans, investments, and auto loans.
Read Full Comparison: Bank of America vs US Bank: Which is Best For You?
Wells Fargo offers a diverse range of products, including checking accounts, savings accounts, loans, mortgages, and investments such as 401ks, IRAs, and wealth management options.
US Bank offers an even more impressive range of banking services. Savings and checking account options, investments, personal loans, mortgage products, and wealth management are all available.
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Compare American Express Bank
Discover Bank is a full-service online bank as well as a provider of payment services. Discover can be used for banking and retirement planning by individuals. Discover is best known for its credit cards with rewards, but it also provides personal, student, and home equity loans.
American Express is one of the world's most well-known credit card brand names. Customers can get a personal banking solution from American Express National Bank, which offers online savings and CD options. Personal savings accounts have a high potential yield. They do not, however, provide as many products as Discover Bank does.
Read Full Comparison: Discover vs American Express: Which Bank Account Is Better?
Capital One is a premium online banking service that offers convenient, dependable service and physical locations to anyone looking for them. Capitol One 360, in addition to providing a trustworthy and dependable service, has no hidden fees or minimums, allowing you to continue earning interest on your daily money. There are over 38,000 fee-free ATMs and over 2,000 Capital One ATMs to meet your money access needs.
American Express is one of the world's most well-known credit card brand names. Customers can get a personal banking solution from American Express National Bank, which offers online savings and CD options. Personal savings accounts have a high potential yield. American Express National Bank is a respectable, secure banking option that does not offer any extra features but does offer the most important one.
Read Full Comparison: American Express vs Capital One: Which Bank Is Better For You?
Although Chase Bank has a modern, trendy image, it is one of the oldest banks in the United States. JP Morgan Chase's consumer division, Chase Bank, is one of the largest banks in the United States. Even though its interest rates aren't particularly competitive when compared to online banks and credit unions, loyal Chase customers who keep a significant amount of money with the bank can earn slightly better rates.
American Express is best known for its credit card business. The financial services firm, on the other hand, has a banking subsidiary that offers high-yield savings and CD accounts. For those looking to save money with a well-known financial institution, the American Express High Yield Savings Account is a popular option.
Read Full Comparison: American Express vs Chase Bank
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Read Full Comparison: American Express vs Citi: Where to Save Your Money?
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