In This Review..
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% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose, 2% cash back on one everyday category, like gas stations, grocery stores or restaurants, 1% cash back on all other eligible purchases.
You can also enjoy a generous sign-up bonus of $200 rewards bonus after you apply online and spend $500 in eligible purchases within the first 90 days of account opening. The Cash+ Visa Signature offers 0% intro APR for 15 billing cycles on balance transfers. Lastly, the the card has no annual fee, which is uncommon compared to other rewards cards.
On the other hand, the card charges a balance transfer fee as well as foreign transaction fee, so if you're traveling a lot – it may not be the best card for your needs.
Rewards Plan
Sign up Bonus
0% Intro
PROS
- Cashback Sign-Up Bonus
- 0% APR Introductory Rate on Balance Transfers
CONS
- Restriction on Cash Bonuses
- Balance Transfer Fee
APR
18.99% - 28.99% Variable APR
Annual Fee
$0
Balance Transfer Fee
$5 or 3%
Credit Requirements
Good - Excellent
Card & Issuer Reputation
- 3.5/5 on
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 new cardholders can earn $200 rewards bonus after you apply online and spend $500 in eligible purchases within the first 90 days of account opening.
- No Minimums for Redemption
The U.S. Bank Cash+ Visa Signature card does not have a minimum for the redemption of rewards.
- 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
- Cash Back Rewards
U.S. Bank Cash+ Visa Signature card earns 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose, 2% cash back on one everyday category, like gas stations, grocery stores or restaurants, 1% cash back on all other eligible purchases
- 0% APR Intro on Balance Transfers
If you are looking to save money on interest, the U.S. Bank Cash+ Visa Signature card offers a 0% introductory rate for 15 billing cycles 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 during this period.
- 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.
Drawbacks
Here are the most important cons you should consider before apply:
- 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.
- Foreign Transaction Fee
The U.S. Bank Cash+ Visa Signature card has a foreign transaction fee of 2%. 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 greater. 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 cash back on all spending.
Rewards Simulation: How Much You Can Earn?
The best way to see if the US Bank Cash+ card is the right choice for your needs, is to calculate the amount of rewards and benefits you suppose to earn.
Keep in mind that this is a general breakdown of expenses, so make sure to adjust it to your own consumer preferences and spending habits.
| |
|---|---|
Spend Per Category | US Bank Cash+ Visa Signature |
$15,000 – U.S Supermarkets | $300 |
$3,000 – Restaurants
| $60 |
$6,000 – Rotating Categories | $300 |
$3,000 – Hotels | $30 |
$4,000 – Gas | $80 |
Total Points | / |
Estimated Annual Value | $770 |
Where to Redeem Your Rewards?
The flexibility of the US Bank Cash+ allows you to select the categories where you'd like to earn a higher rate of cash back. You can earn points in two different categories – 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose, 2% cash back on one everyday category, like gas stations, grocery stores or restaurants, 1% cash back on all other eligible purchases.
You can save your cashback and receive it as a statement credit, rewards card, or direct deposit into your U.S. Bank savings or checking account.
Leverage Your Card Smartly
To make the most of this card, you must think strategically.
You can designate categories each quarter, so consider where you will spend the most money in the next three months. If you're planning a large electronics purchase, make sure this is one of your 5% categories.
Furthermore, because utilities can be one of the 5% categories, it may be worthwhile to keep this turned on during the summer and winter, when heating and cooling costs are at their highest.
How To Apply For U.S. Bank Cash+ Visa Signature Card?
- 1.
Visit the U.S Bank Cash+ Visa Signature Card homepage and click “Apply Now.” Fill in your personal details on the next page and click “Next.”
- 2.
Now, fill in your street address, city, zip code, and click “Next.”
- 3.
After, choose your birth date, SSN, etc. Indicate your employment status and annual income.
- 4.
Next, read through the Terms and conditions and click “Submit”.
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.
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 high 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.
Compare The Alternatives
There are other credit cards that do offer comparable cash back rewards – we’ve summarized the most popular cards which can use as an alternative to the Altitude Go card:
|
|
| |
|---|---|---|---|
Capital One Savor card | Chase Freedom Unlimited® card | Citi Simplicity® Card | |
Annual Fee | $0
| $0
| $0
|
Rewards |
1% – 3%
earn unlimited 3% cash back on dining, entertainment, popular streaming services and grocery store purchases (excluding superstores like Walmart® and Target®), 1 percent on all other purchases.
|
1.5% – 5%
5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1.5% cash back on all purchases
|
None
None
|
Welcome bonus |
$200
$200 cash bonus once you spend $500 on purchases within the first 3 months from account opening
|
Up to $300
additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year)- worth up to $300 cash back
|
None
None
|
Foreign Transaction Fee | None
| 3%
| 3%
|
Purchase APR | 19.24% – 29.24% variable
| 19.49% – 28.24% variable
| 18.74% – 29.49% (Variable)
|
FAQ
You can only earn 5% on $2,000 of combined purchases across the two categories each quarter. After this, the cash back rate will drop to the base 1%. However, there is no cap on the 2% category.
Pre-approval is available at for the US Bank Cash+ card, but only for offers received via email or mail.
Furthermore, if you are an existing customer, you may receive a pre-approved offer via your online account. There is no online tool for interested potential customers to use to check the status of their pre-approval.
When you complete the online application form, you are submitting a complete application, which will include a hard credit pull.
The initial credit limit for the Cash+ Visa card can be as low as $1,000, but it is usually between $1,000 and $1,500, depending on a variety of factors such as your credit history, income, and existing debt.
If you enjoy traveling, you may be disappointed by the lack of travel rewards and redemption options. There are far better options for a travel card, especially if you have good to excellent credit.
Given that it has no annual fee, the Cash+ card provides some decent rewards. It worth serious consideration if you are looking for an everyday card without having to worry about hefty annual fees.
Review Rewards Credit Cards
Citi Custom Cash
Chase Freedom Unlimited
Discover It Cash Back
American Express Blue Cash Preferred
Chase Sapphire Preferred
Citi Double Cash
Citi Rewards+
U.S. Bank Altitude Go
Delta SkyMiles Gold American Express
PNC Points Visa
