U.S. Bank Cash+™ Visa Signature® Card review: Customize your 5% cash back categories
U.S. Bank Cash+™ Visa Signature® Card
CardRatings Editor's Analysis: Pros & Cons
- Runner up winner of the 2019 CardRatings Editor's Choice Award for Best Customer Choice Cash-Back Rewards Card.
- Each quarter you choose two categories in which to earn 5% cash back on up to the first $2,000 you spend, meaning there's no reason you shouldn't maximize your rewards earning with this card.
- Enjoy 2% cash back in a non-rotating category of your choosing and 1% back on all your other purchases.
- If you don't remember to choose your 5% categories each quarter, you'll earn just 1% for that quarter, so this card is best for people who take a hands-on approach to their credit card rewards.
TABLE OF CONTENTS
Imagine looking at your monthly budget, finding your highest spending categories and being able to earn cash back on the total amount. It would be free money just for following your budget. With the U.S. Bank Cash+™ Visa Signature® Card, the amount of cash back you earn is in your hands. With most cards that offer tiered rewards, there are categories that rotate or remain the same—but few allow the cardholder to choose said categories.
The options with the U.S. Bank Cash+™ Visa Signature® Card include two categories of the cardmember's choice, which will earn 5% back, each up to $2,000; one everyday category, also of the cardmember's choice that will earn 2% back unlimited; and 1% on all additional purchases.
- 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.
Do you spend a significant amount of money in the summer on back-to-school clothes and supplies? Does a large chunk of your budget get earmarked in the fall for holiday shopping? Is your vacation travel paid for and planned in the winter and spring? If you answered yes to any of these questions, you're the reason we love this card! Who wouldn't love being able to plan their own cash back categories and amounts?
What's truly great about this card is how flexible it is to earn rewards. Earning 5% cash back on your first $2,000 in combined eligible net purchases ($100 per quarter) on two categories you choose, adds up to $400 cash back! That's not even including the 2% cash back on your choice of one everyday category, like gas stations or grocery stores and 1% cash back on all other eligible net purchases.
The U.S. Bank Cash+™ Visa Signature® Card bonus for new cardholders is also noteworthy. Spend $500 on net eligible purchases in the first three months after opening your account, and your wallet will be rewarded with $150. There are no categories required for that nice bonus!
Lastly, there's the added flexiblity in that this card offers three ways to redeem rewards. Cardmembers can redeem as a statement credit, a direct deposit to a U.S. Bank account, or for a rewards card. Everywhere you look, the U.S. Bank Cash+™ Visa Signature® Card cash-back card offers flexibility and possibility to its members— we love that!
The U.S. Bank Cash+™ Visa Signature® Card, while perfect for some, won't be beneficial if you're not someone who plans their budget monthly and consistently. If you're someone who doesn't follow what they spend very closely, you likely won't maximize your cash-back rewards with this card.
Another potential downside is that cardholders need to remember to choose their categories on a quarterly basis. If you forget, all purchases automatically get put into the 1% back category. And unlike many credit cards, this one sets a 36-month expiration date on its rewards.
Finally, this card might not be an ideal fit for frequent international travelers as it charges 2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. dollars, and 3% of each foreign purchase transaction or foreign ATM advance transaction in a foreign currency.
U.S. Bank Cash+™ Visa Signature® Card vs. Citi® Double Cash Card - 18 month BT offer
The U.S. Bank Cash+™ Visa Signature® Card touts flexibility and possibility through its program that allows card members to choose their cash-back categories. Members choose two categories for a 5% return on up to $2,000 in eligible net purchases. A third category will yield an unlimited 2% cash back, with all other purchases earning 1% cash back. Citi is a CardRatings.com advertiser.
This system varies from the Citi® Double Cash Card - 18 month BT offer , which has no categories or cash-back ceilings, but offers only 2% cash back on all purchases– 1% at purchase and 1% when you pay at least the minimum balance due on your bill on time. Neither the Citi® Double Cash Card - 18 month BT offer, nor the U.S. Bank Cash+™ Visa Signature® Card has an annual fee.
If you have the time and want to spend it planning your purchases, the U.S. Bank Cash+™ Visa Signature® Card could be the way to go. If hassle-free is your game, and you're okay with a lower return rate, you might be better off with the Citi® Double Cash Card - 18 month BT offer.
U.S. Bank Cash+™ Visa Signature® Card vs. Chase Freedom®
(This card is not currently available on CardRatings)
While the U.S. Bank Cash+™ Visa Signature® Card offers a similar rewards categories setup to the Chase Freedom, with similar cash-back percentages, there is a slight difference. Chase Freedom® (This card is not currently available on CardRatings) offers rotating quarterly categories with 5% back. U.S. Bank Cash+™ Visa Signature® Card offers your choice of two rotating quarterly categories with 5% back, as well as one category of your choice at 2% back, and 1% back on all other purchases. With both cards, cardholders have to remember to activate these categories in order to earn the incentive.
Another similarity is that neither card charges and annual fee, making them both a great option to add to your wallet, even if they'll just be used alongside other cards instead of as your go-to option.
The information related to the Chase Freedom® credit card has been collected by CardRatings and has not been reviewed or provided by the issuer of the card.
U.S. Bank Cash+™ Visa Signature® Card vs. Discover it® Cash Back
If you're looking to maximize your cash-back earnings, the Discover it® Cash Back is worth your consideration. This card earns 5% cash back in rotating categories each quarter (up to the quarterly maximum each time you activate) as well as 1% cash back on all other purchases. For new card members, at the end of your first year, Discover matches all the cash back you earn, including that 5% in rotating categories — meaning you essentially earn 10% cash back in those categories in the first year. Compared to the U.S. Bank Cash+™ Visa Signature® Card, which is currently offering a $150 bonus after spending $500 in eligible net purchases within the first 90 days of account opening, the Discover card has a higher possible bonus value.
The best applicant for the the U.S. Bank Cash+™ Visa Signature® Card is a person who loves a good challenge with a great payout. If you can plan your expenditures by quarter, then adjust them to fit as much in one or two categories as possible, you're a great fit for the U.S. Bank Cash+™ Visa Signature® Card. You should also be very organized so you don't forget to plan properly or sign up for your quarterly categories.