Reviews

U.S. Bank Cash+™ Visa Signature® Card Review

The U.S. Bank Cash+™ Visa Signature® Card is a robust contender to make our recurrently up to date listing of the greatest money again bank cards for U.S. customers. It has a beneficiant money again program that features 5%, 2% (limitless), and 1% (limitless) tiers – one of many extra favorable constructions round. You can designate two favored spending classes for the 5% tier and one for the two% tier. The 1% tier covers all different eligible buy spending.

With no annual payment, the U.S. Bank Cash+ Visa Signature Card is nice for any price range, supplied you may align your spending to the favored classes you’ve chosen. There’s no restrict to how a lot you may earn within the mixture – so, in case you have huge spending plans and want a brand new credit score card, now’s the time to get began.

Here’s what it’s essential find out about U.S. Bank Cash+ Visa Signature Card’s options, benefits, disadvantages, and general suitability.

Key Features

Sign-Up Bonus

When you apply on-line and make at the very least $500 in eligible purchases throughout the first 90 days, you’ll earn a $150 new cardmember bonus. Combined with bonus money again earnings within the 5% money again tier (see under), this new cardmember bonus helps push whole potential bonus money again earnings within the first year to $550 – a improbable worth for a no-annual-fee card.

Earning Cash Back

This card has a three-tiered money again program.

First, designate 2 money again classes from a listing that features fitness center and health facilities, eating places, grocery shops, malls, and extra. Those classes earn 5% money again on eligible purchases, as much as $2,000 in mixed spending per quarter ($8,000 max spending per year).

Second, designate a further money again class to earn limitless 2% money again on eligible purchases.

All different eligible purchases earn limitless 1% money again.

There’s no restrict to your mixture level earnings. Unused money rewards expire 36 months after the billing cycle throughout which they’re earned. Category choices are topic to alter quarterly, and you should register in your chosen classes on a quarterly foundation.

Redeeming Cash Back

You can redeem your amassed money again for assertion credit to your Cash+ account; direct checking account deposits to a U.S. Bank checking, financial savings, or money market account; or U.S. Bank Rewards Card (present card).

There’s no minimal redemption threshold for assertion credit or checking account deposits. Reward card redemptions are topic to a $20 minimal and have to be made in $5 increments.

Visa Signature Benefits

Cash+ has some helpful advantages backed by the Visa Signature program:

  • Complimentary Rental Car Insurance: You’re entitled to complimentary rental automotive protection (loss and injury) for leases paid in full along with your Cash+ card.
  • Retail Protection: This profit offers reimbursement after sure opposed procuring occasions, topic to key limitations and restrictions. Read your account disclosures for extra particulars.
  • Concierge Service: This 24/7 profit is good for vacationers who have to make difficult restaurant, leisure, or journey reservations in unfamiliar locations, even the place they don’t communicate the language.

Other advantages could also be obtainable as properly – test your credit score card settlement and disclosures for specifics.

Introductory APR

U.S. Bank Cash+ has a 12-month, 0% APR introductory promotion for stability transfers. To qualify, stability transfers have to be made inside 60 days of account opening. After the top of the introductory interval, variable common rates of interest apply on the transfers’ full remaining stability. There’s no corresponding introductory APR promotion for purchases.

Regular APR

Following the top of the stability switch promotion interval, variable common APR applies to all stability transfers. The variable common buy APR applies from the day you open your account.

Overdraft Protection for U.S. Bank Deposit Account Holders

As a U.S. Bank deposit account holder, you may hyperlink your Cash+ card to your qualifying deposit account to guard in opposition to overdraft transactions. This opt-in safety robotically executes deposit account transactions that might usually lead to adverse account balances or NSF denials. U.S. Bank then attracts a corresponding money advance in your credit score card’s money advance line to cover the shortfall.

Most financial institution accounts cost every day charges for this service, usually $7.50 to $12.50. Some higher-end accounts waive these charges. Your money advance begins accruing curiosity on the common money advance rate as quickly because it’s executed, so it’s in your greatest curiosity to pay it off as quickly as attainable.

Important Fees

There is not any annual payment. Foreign transactions price 2% for U.S. dollar-denominated transactions and three% for transactions denominated in international foreign money.

Balance transfers price the larger of $5 or 3% of the transferred quantity, even throughout the introductory interval. Cash advances price at the very least the larger of $5 or 3% of the superior quantity. Some forms of money advances, together with overdraft safety transfers, price extra.

Credit Required

This card requires good to glorious credit score.

Advantages

  1. No Annual Fee. The U.S. Bank Cash+ Visa Signature Card has no annual payment. If you don’t spend closely sufficient to offset recurring levies, or just (and understandably) wish to maximize your return on spending, that’s music to your ears.
  2. Solid Sign-up Bonus. When you spend at the very least $500 in eligible internet purchases inside 3 months of opening your account, you get $150 bonus money. That’s a strong rate of return and must be pretty straightforward to achieve if you use this card for on a regular basis spending in your favored class. Combined with bonus money again earnings within the 5% money again class, new cardmembers could earn as much as $550 in bonus money within the first year.
  3. Very Good Ongoing Cash Back Rate in Favored Categories. This card’s rate of return on spending is spectacular. Earn as much as 5% money again on $2,000 in mixed quarterly spending in your 2 high classes and limitless 2% money again in your subsequent favourite class. If you select your 2% class proper, you may actually rack up the returns there.
  4. 12-Month 0% APR Promotion on Balance Transfers. This card’s 12-month, 0% APR stability switch promotion is nice information for brand new cardholders who’ve beforehand struggled with high-interest credit score card debt.
  5. No Minimum Redemption Amount for Select Redemption Options. You don’t have to fret about minimal redemption thresholds for assertion credit or checking account deposits right here – you may redeem in any quantity, at any time.
  6. Visa Signature Benefits. U.S. Bank Cash+ comes with a pleasant lineup of Visa Signature advantages, together with complimentary rental automotive insurance coverage and concierge service. That’s a giant benefit over Visa Platinum playing cards, which aren’t practically as beneficiant. If you’re taking full benefit of your Visa Signature perks, it can save you a whole bunch every year – notably for those who’re a frequent automotive renter.
  7. No Penalty APR. This card doesn’t cost penalty curiosity. This is nice information for cardholders who typically miss assertion due dates due to money circulate points or sudden bills that they will’t repay in a single month.

Disadvantages

  1. Mediocre Cash Back Baseline. This card’s baseline money again rate is a mere 1%. That’s higher than nothing, however removed from aggressive with top-earning playing cards like Citi Double Cash Card (limitless 2% again on all eligible purchases).
  2. No Purchase APR Promotion. The U.S. Bank Cash+ Card’s stability switch promotion is sweet, however there’s no comparable buy promotion to shore it up. If you’re searching for a rewards credit score card that cuts you a break on buy curiosity for months or years after your sign-up date, look to the Capital One Quicksilver Credit Card.
  3. Quarterly Registration Required to Earn 2% and 5% Cash Back. If you wish to notice this card’s full money again potential, you’ll have to register your 2% and 5% money again classes on a quarterly foundation. This is a time-consuming procedural hurdle that the majority competing money again playing cards eschew.
  4. 2% to three% Foreign Transaction Fee. This card provides 2% to three% to every international transaction. Dollar-denominated transactions are cheaper, however some comparable playing cards (together with Capital One Quicksilver) waive international transaction charges altogether.
  5. Cash Back Points Expire After 36 Months. Unused money again earned with this card expires in 36 months. That’s a considerable downside relative to money again playing cards whose unused money again by no means expires, and a possible dealbreaker for infrequent customers.

Final Word

The U.S. Bank Cash+™ Visa Signature® Card is only one of a number of bank cards issued by U.S. Bank. If you like to earn versatile loyalty foreign money that you may redeem for present playing cards, normal merchandise, journey credit, and different objects, you may want one of many financial institution’s FlexPerks playing cards. If your major concern is securing a low introductory or ongoing APR, the no-frills U.S. Bank Visa Platinum Card could also be a greater match. Whichever you select, you may depend on the identical nice service and value-added perks you’ve come to anticipate from U.S. Bank.

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