U.S. Bank Cash 365 American Express Card Review

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The U.S. Bank Cash 365 American Express offers unlimited cash back on all purchases without an annual fee. New cardholders are eligible for a sign-up bonus that’s easy-to-earn and doesn’t require a lot of spending. The introductory 12-month period on balance transfers offers a chance to pay off a high interest rate non-U.S. Bank balance, but consider another credit card if you need more than a year to pay off your balance.

U.S. Bank Cash 365™ American Express® Card

overall rating
3.4
U.S. Bank Cash 365™ American Express® Card
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Excellent
Regular APR (%) 13.99% - 23.99% variable
Annual Fee $0
Rewards Earning Rate Unlimited 1.5% cash back on all eligible purchases
Foreign transaction fee (%) 3%
Ratings Breakdown
for Interest
2.3
for Fees
1.9
for Rewards
4.8
for Credit
0.7

Current Offer:

Earn a $150 bonus after you apply online and spend $500 in eligible net purchases within the first 90 days of account opening.

Who Is This Credit Card Best For?

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    Deal Seeker
  • Avatar for Savvy Saver Persona
    Prioritizes sticking to their budget while buying what they want and need See more cards
    Savvy Saver

U.S. Bank customers with excellent credit who want to earn cash-back rewards without a complicated rewards structure will find this card a good fit. Those who want an American Express-affiliated card or prefer to bank with U.S. Bank will enjoy this option. While the rewards system is simple, cardholders have a few flexible redemption options that let you take advantage of the rewards you’ve racked up.

Pros
  • Easy-to-earn welcome offer

  • No annual fee

Cons
  • Potentially high APR

  • Better balance transfer offers exist

Pros Explained

  • Easy-to-earn welcome offer: The $150 welcome offer is a nice early boost to your cash rewards. Plus, you’re only required to spend $500 to earn it, making the bonus pretty easy to get without dramatically increasing your spending.
  • No annual fee: With no annual fee, you can use the credit card to earn cash-back rewards at no additional cost. The only fees are transaction-based fees, all of which can be avoided depending on how you use the card.

Cons Explained

  • Potentially high interest rate: Depending on your credit score and other financial details, you could end up with a relatively high APR, which would make carrying a balance expensive.
  • So-so balance transfer offer and no introductory interest offer on purchases: If you need more time to pay off a bigger balance, this may not be the card for you. Some balance transfer offers extend for as long as 18 or 21 months, but this one only goes for a year. Also, some competing cards offer introductory 0% interest deals on balance transfers and on purchases (which this card does not). 

U.S. Bank Cash 365 American Express Card’s Welcome Offer

The U.S. Bank Cash 365 is right in step with the competition when it comes to the welcome offer. You’ll earn $150 by spending $500 on purchases in the first 90 days of opening your account. You’ll need to shop around to find a no-annual-fee card with 1.5% earnings rate if you want to earn more for the same amount of spending.

Earning Rewards

Purchases made on the U.S. Bank Cash 365 American Express Card earn a flat 1.5% cash back. If you spend $1,000 a month on card purchases, for example, you could earn $180 in rewards in a year. Someone who wants to enjoy the perks of cash-back rewards without the hassle of figuring out how to maximize rewards will appreciate the simple rewards structure.

There’s no limit to the rewards you can earn and your points don’t expire.

Redeeming Rewards

You have a few choices for redeeming your rewards, which is always a plus. You can redeem your “rebates” for a statement credit; direct deposit into a U.S. Bank checking, savings account, or money market account; or have them loaded onto a U.S. Bank Rewards Visa Card. You can monitor and manage your rebates online or via the app.

Unlike the other redemption options, U.S. Bank Visa rewards must be redeemed with a $20 minimum redemption and in $5 increments. You can use your rewards card anywhere Visa is accepted to make purchases, but you won’t be able to withdraw cash from the card.

How to Get the Most Out of This Card

If you decide to use the card for the balance transfer, keep in mind the promotional period lasts 12 billing cycles, which could be fewer than 12 calendar months. There are more generous balance transfer credit cards on the market if you need more time to pay off a balance.

Depending on the credit limit U.S. Bank sets, you might be better off waiting to transfer a balance while earning the welcome offer in the first 45 or so days the account is open. This way you won’t have to worry about the balance transfer taking up too much of your available credit. You have 60 days to transfer the balance under the introductory rate. Redeeming your rewards as a statement credit or bank deposit gives you more flexibility than redeeming for a rewards Visa since there’s no minimum redemption requirement.

This card could double as a secondary rewards card to supplement another card with a higher earnings rate for travel purchases, for example, or restaurants, but a lower base rate of 1% on other purchases. By carrying both, you earn an extra half a percent on purchases that would only earn 1% cash back with the other rewards card.

U.S. Bank Cash 365 American Express Card’s Excellent Perks 

The U.S. Bank Cash 365 isn’t loaded with a ton of travel benefits, but it does come with one perk that our editors consider an excellent perk.

  • Travel accident insurance: Receive travel accident insurance for you and your family when you use your card to purchase travel on common carriers like trains, planes, buses and ships.

U.S. Bank Cash 365 American Express Card’s Other Features 

  • Rental car collision insurance (secondary to your own policy)
  • Refund when merchant won’t accept returned item
  • Lowest advertised price match
  • Extended warranties
  • Travel and emergency hotline
  • Sports, music, and event ticket presales

Customer Experience

Each year, J.D. Power conducts a credit card satisfaction study measuring customer satisfaction with credit card issuers in key factors like interaction, credit card terms, and communication. U.S. Bank ranks eighth in the latest edition (out of 11 big banks studied).

Despite the poor showing, U.S. Bank does offer a few features for an improved customer experience. Cardholders can manage their account via the mobile app and enjoy 24/7 U.S.-based customer service, access to a free TransUnion credit score (VantageScore), and some budgeting and expense tracking tools.

Security Features

The U.S. Bank Cash 365 American Express Card comes with industry-standard security features like fraud monitoring, chip technology, and zero fraud liability.

U.S. Bank Cash 365 American Express Card’s Fees 

The U.S. Bank Cash 355 American Express doesn’t come with a lot of fees—there’s no annual fee and no penalty interest rate if you make a late payment. If you use your credit card for international purchases, you’ll be charged a 2% foreign transaction fee if the purchase is made in U.S. dollars or 3% if the purchase is made in a foreign currency.

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CURRENT CARD
U.S. Bank Cash 365™ American Express® Card
overall rating
3.4
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Excellent
Regular APR (%) 13.99% - 23.99% variable
Annual Fee $0
Rewards Earning Rate Unlimited 1.5% cash back on all eligible purchases
Our Methodology
At The Balance, we are dedicated to giving you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.
  • Our Reviews Are Always Impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive. The scores and reviews come directly from the data we collect and our editorial expertise, and we focus on three areas:
  • How Much Does It Cost? With credit card debt at an all-time high, we believe you should know the cost of carrying a balance. Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees.
  • What Are the Rewards Worth? Cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely. To simplify the problem, we built a system that fairly compares rewards and gives them a dollar value. We do this by looking at the ways you can earn and use rewards, which includes evaluating Americans’ typical spending habits and analyzing common travel patterns.
  • Does It Make Your Life Easier? Our scoring system favors cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting customer service. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges.
  • For every review on The Balance, we hold the credit cards to these standards, and we set the bar high. While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. See our full methodology for more details.