People with good to excellent credit looking for a no-annual fee cash rewards credit card can wring some value out of the U.S. Bank Cash+ Visa Card—as long as you don’t mind a little ongoing card maintenance. The card gives more control over how you earn rewards by letting you choose your own bonus categories. While there’s a limit to the rewards you can earn in the highest-earning tier, your other cash rewards are unlimited.
Easy to earn sign-up bonus
Choice of bonus rewards categories
Cap on highest earning rewards category
Foreign transaction fee
Quarterly registration required to earn the most rewards
- Easy to earn sign-up bonus: With a minimum spend of just $500, most cardholders will find the sign-up bonus a breeze to earn.
- Choice of bonus rewards categories: While other credit cards with a quarterly cash back bonus have fixed categories chosen by the bank, the Cash+ card gives cardholders a choice of bonus rewards categories to choose from each quarter.
- Cap on highest earning rewards category: 5% cash back rewards is a great rate, but you can only earn only earn up to $100 cash back each quarter on purchases in bonus categories.
- Foreign transaction fee: This isn't the best card to use for international purchases. With its foreign transaction fee you'll pay up to 3% on purchases made in a currency other than U.S. dollars.
- Quarterly registration required to earn bonus rewards: While you do get the flexibility to choose your cash back categories, you have to sign up by the deadline to earn bonus rewards. Otherwise, purchases in bonus categories will only earn 1% back instead of 2% or 5%.
U.S. Bank Cash+ Visa Signature Card Sign-Up Bonus
Earn a $150 sign-up bonus when you spend just $500 in the first 90 days of opening your account. The low minimum spend requirement will allow most people to earn the sign-up bonus within the first few weeks of opening the account.
It can take six to eight weeks for the sign-up bonus to post to your account.
The U.S. Bank Cash+ Visa Signature Card lets you earn 5% cash back rewards on your first $2,000 in combined purchases each quarter on two categories you choose. Other credit cards with a 5% quarterly rotating rewards are dictated by the card issuer.
On top of the 5% rewards, you can earn 2% back on purchases at one of gas stations, grocery stores, or restaurants. You choose which. Finally, earn 1% back on all your other purchases.
To give you an idea of the choices that might be available, here are the 5% Cash+ categories for January through March 2020: TV, internet, streaming services, home utilities, ground transportation, select clothing stores, cellphone providers, electronics stores, gyms/fitness centers, fast food, sporting goods stores, department stores, furniture stores, and movie theaters. Bonus categories have remained largely the same for the past few quarters, but the bank could change them at any time.
Based on the available 5% cash back categories, and the two category limit, reaching the $2,000 spending cap each quarter may be a challenge for many cardholders. Don’t be tempted to overspend in order to earn the maximum cash back.
U.S. Bank Cash+ Visa Signature Card Redeeming Rewards
The card comes with a few choices for redeeming your rewards. Options include a statement credit; direct deposit into your U.S. checking, savings, or money market account; or a rewards card.
There’s no minimum redemption requirement for a statement credit or direct deposit. However, if you opt to redeem your cash back as a U.S. Bank Rewards Visa debit card, there’s a $20 minimum redemption requirement and you must redeem rewards in $5 increments.
How to Get the Most Out of This Card
You can earn at least $550 in cash rewards in the first year if you earn the sign-up bonus and max out spending in the 5% categories. You’ll need to spend $2,000 in the two categories each quarter, which breaks down to $666.67 in monthly spending.
Consider your upcoming spending when you’re selecting your 5% bonus categories. For example, you may choose electronics stores and department stores if you’re doing a lot of holiday shopping in the fourth quarter.
Choose your bonus rewards categories by visiting your account online or by calling customer service before each quarter starts so you have the full quarter to max out your spending. You can choose your rewards up to 45 days before the quarter starts and you have up to five days before the beginning of the quarter to make changes to your selection. Register early: U.S. Bank advises that it can take up to three business days for registration to take effect.
You can still select bonus categories after the quarter has started, but you won’t earn higher rewards until the selection becomes effective. Spending will only earn cash back rewards at the 1% rate if you don’t register.
Don’t hold on to your rewards for too long—rewards expire after 36 months.
U.S. Bank Cash+ Visa Signature Card ’s Other Features
- Rental car collision insurance (secondary to your own policy)
- Insurance for stolen or damaged purchases
- Extended warranties
- Travel and emergency hotline
- Roadside assistance hotline
- Concierge for booking event tickets, travel, and other services
- Sports, music, and event ticket presales and discounts, plus VIP access at some events
U.S. Bank ranks eighth (out of 11 big banks) in J.D. Power’s 2019 Credit Card Satisfaction Study, scoring 785 out of a possible 1,000. The credit card issuer received its worst ratings in the areas of interaction and communication.
The card comes with a few noteworthy customer experience benefits including: 24/7 U.S. based customer service, free TransUnion FICO score, budgeting tools, cardmember agreement guide, credit wellness center, and spend analysis online reporting. And to better keep up with rewards enrollment timing, you can sign up to get text reminders to select your bonus rewards categories.
U.S. Bank Cash+ Visa Signature Card ’s Fees
The U.S. Bank Cash+ Visa Signature Card doesn’t come with a lot of fees—and none of them are out of line with industry standards.