U.S. Bank Cash 365™ American Express® Card Review
U.S. Bank Cash 365™ American Express® Card
CardRatings Editor's Analysis: Pros & Cons
- Enjoy a new cardholder bonus of $150 once spending $500 in eligible net purchases within the first 90 days the account is open.
- Earn 1.5% cash back on all eligible purchases with no categories or spending caps to worry about.
- Great for anyone needing to a little extra time to pay off a large balance, the U.S. Bank Cash 365™ American Express® Card offers an introductory 0% APR offer on balance transfers for 12 billing cycles. After that, a variable APR of 15.74% - 25.24%* Variable will apply.
- The 0% APR intro offer is nice for anyone looking to make a balance transfer, but this offer is restricted to balance transfers only. This might not be the card for you if you're looking for an introductory offer of 0% APR on purchases as well.
U.S. Bank Cash 365™ American Express® Card Essentials
The U.S. Bank Cash 365™ American Express® Card is designed for the consumer who likes to keep things simple. If you like attainable cash bonuses but don't have the time or inclination to determine the best ways to get the most out of a complicated rewards structure, this might be the card for you.
This no annual fee card offers users a straight 1.5% cash back reward (no categories) on all qualifying purchases. The rewards are unlimited, never expire and can be redeemed in a several ways, including a statement credit, direct deposit into your U.S. Bank checking or savings account, or as a rewards card.
Additional perks include emergency assistance (legal, medical, and financial) on trips of more than 100 miles, return protection, extended warranty on certain eligible products, a "best value" price guarantee, early access for purchasing tickets to certain entertainment events, and travel and car rental insurance.
There is no introductory rate on purchases but there is an introductory offer of 0% APR for the first 12 billing cycles for balances transferred within 60 days from account opening. After that, the rate moves to the standard 15.74% - 25.24%* Variable.
- Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
- $0 intro annual fee for the first year, then $95.
- Buy Now, Pay Later: Enjoy $0 plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 plan fees on plans created during the first 12 months after account opening. Plans created after that will have a plan fee up to 1.33% of each purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
- Low intro APR: 0% for 12 months on purchases from the date of account opening, then a variable rate, 13.99% to 23.99%
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
- Terms Apply.
What Our Editors Like Most about U.S. Bank Cash 365™ American Express® Card
Simplicity can be a beautiful thing and easy cash almost always grabs our attention.
To begin with, the U.S. Bank Cash 365™ American Express® Card has no annual fee -- ever. That's a savings right out of the gate.
The introductory bonus of $150 is modest but it is also a breeze to qualify for. You just need to spend $500 over the course of the first three months you have your card.
Complicated rewards structures with multiple (and sometimes rotating) categories can certainly have a sizable return, but what good is that if you don't have the time to keep track of the categories and figure out the best way to use your card? The 1.5% cash back reward system with the U.S. Bank Cash 365™ American Express® Card is straightforward, easy to understand and easy to cash in on. We also like that there are multiple options for redeeming rewards. A deposit into a checking account is nice, but so is a statement credit that could mean no card payment for a month or two.
Potential Downsides of U.S. Bank Cash 365™ American Express® Card
If you don't do your banking with U.S. Bank, you lose some of your flexibility with reward redemption, as direct deposits can only be made into accounts at that bank.
You might also find the lack of an introductory interest rate for purchases disappointing, and the starting rate of 15.74% - 25.24%* Variable APR could be a little steep for some.
You will also want to bear in mind that the introductory rate of 0% for 12 billing cycles on balance transfers is only good on transfers made within the first 60 days you have your card.
How U.S. Bank Cash 365™ American Express® Card Compares to Other Cash Back Cards
U.S. Bank Cash 365™ American Express® Card vs. Chase Freedom®
(This card is not currently available on CardRatings)
Both cards have no annual fees and they can both earn new cardholders a $150 bonus once spending $500 within certain time frames.
They each offer an introductory rate of 0% for 12 billing cycles on balance transfers, however, Chase Freedom® offers a 15 month transfer window, compared to just three months for the U.S. Bank Cash 365™ American Express® Card. Chase Freedom® also extends the same introductory 0% APR offer to all purchases made over the first 15 months you have the card, not just balance transfers. (Then 16.49% - 25.24% Variable.)
When it comes to rewards, the two cards have polar opposite offers. U.S. Bank Cash 365™ American Express® Card earns a straight 1.5% on all purchases. Chase Freedom® offers a multiple tiered rewards program and as much as 5% cash back for some categories (up to $1,500 in combined purchases in bonus categories each quarter you activate).
The information related to the Chase Freedom® has been collected by CardRatings and has not been reviewed or provided by the issuer of the card.
U.S. Bank Cash 365™ American Express® Card vs. Bank of America® Customized Cash Rewards credit card
Neither card has an annual fee.
The welcome bonuses aren't identical, but they are similar. With the Bank of America® Customized Cash Rewards credit card new cardholders can earn a $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of opening an account.
The real difference between these two cards is the rewards structure. The U.S. Bank Cash 365™ American Express® Card offers a straight 1.5% cash back on all purchases. The approach is simple and direct. The Bank of America® Customized Cash Rewards credit card has an opposite approach though, with cash back earned in tiered categories, including gas, online shopping, dining, travel, drug stores, and home improvement/furnishings. You get to choose a category (ideally the one you spend the most in) to receive 3% cash back. Beyond that, you get 2% back at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), and unlimited 1% back on all other purchases.
U.S. Bank Cash 365™ American Express® Card vs. Wells Fargo Cash Wise Visa® card
(This card is not currently available on CardRatings)
In many ways the U.S. Bank Cash 365™ American Express® Card and the Wells Fargo Cash Wise Visa® card are identical. Both have a $0 annual fee and a rewards program that offers a flat 1.5% cash back on all purchases. Although Wells Fargo Cash Wise also offers 1.8% cash back on qualified digital wallet purchases, like Apple Pay® or Google Pay™, during the first 12 months.
As for introductory offers, these offers are the same as well: $150 once spending $500 on purchases in the first three months.
Both cards offer an introductory APR of 0% on balance transfers, but with the Wells Fargo Cash Wise Visa® card the period is a bit longer, at 15 months from account opening, and like with the other cards compared here, Wells Fargo Cash Wise Visa® card extends that offer to include new purchases as well. After the intro period, the APR rate for the Wells Fargo Cash Wise Visa® card jumps to 14.49%-24.99% Variable.
One unique perk offered by the Wells Fargo Cash Wise Visa® card is cell phone protection. Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cell phone bill with your card. If you are clumsy with your phone, this could be a critical benefit.