We don’t even have to ask, we know you’re a fan of cash back and have been on the hunt for the perfect rewards card for a while. Each one of them has their pros and cons, but what bothers people the most are the spending categories. Usually, the card already comes with them defined and if you don’t spend as much in travel and rentals, for example, you won’t earn enough cash back to make up for the cost of the credit card.
Here, you’ll get 5% cash back on certain categories, but you can choose your top spenders. Let’s say you’re someone who uses credit cards mostly for groceries, that’s fine, you can focus on it. Ditto for any other category you can think of!
It also gives you some cash back on travel bookings and an extra category without limits. Does this sound like a good idea? Then it’s time to start understanding more about the US Bank Cash+, the cash back card that might help you get a few rewards for spending.
Keep reading to know everything about it, including how the cash back program works in detail. We’ll also describe extra advantages, cons and interest rates and fees for this card.
US Bank Cash+
5% cash back on select categories 1% cash back on all purchasesHow does the US Bank Cash+ work?
The name of this credit card explains what its purpose is: giving the user as much cash back as possible. That’s why the US Bank attempts to help you earn this reward by avoiding the rigid categories that most similar cards use. Instead, you can choose where you earn the most rewards, but we’ll get into further detail a bit later.
For now, all you have to know is that you can get up to 5% cash back, with a few limits. That’s already great, since most cards focused on this type of rewards stop at the 2% threshold. But it’s also a complex credit card.
You’ll rarely use the US Bank Cash+ as your primary credit card. It will likely be that one perk in your wallet you use for special purchases. It’ll give you some extra cash at the end of the month and complete your wallet with perks. Which is good enough, especially for credit card enthusiasts and experts.
Everything you must do is choose your categories every quarter. Since this is a rewards credit card, there’s a lot more to talk about, as you’ll see ahead.
Advantages of using the US Bank Cash+
For many people there’s one reason above everything else to use this credit card: there’s a lot of cash back. But we believe credit cards are of a more complete nature and can offer a lot more for our financial lives. The US Bank Cash+ isn’t an exception, since there’s plenty of great perks here.
Some reasons to get the US Bank Cash+ include:
- High rewards rates on select categories;
- No annual fee;
- High rewards rate;
- $200 sign-up bonus;
- Generous spending cap for the highest reward tiers.
As you can see, this turns out to be a cheap credit card to hold. So if you’re looking for an option that allows you to explore every cash back option, it should be an easy pick.
Who is this credit card for?
While the 5% cash back is a high rewards tier, it isn’t for beginners. This is a complex credit card that requires a certain degree of attention from users. If you’re new to all of this category business, we recommend you look for a simpler and easier to use credit card. At least, that should allow you to get started without worrying and more guarantee of financial returns.
Understand the rewards program for the US Bank Cash+
Finally, we’re talking about rewards. There is a robust cash back program in place when it comes to US Bank Cash+. First of all, the credit card does not determine which categories get the highest earnings, it’s actually the user. Every quarter the credit card owner must determine their top two categories.
These two categories get you 5% cash back on all purchases with a $2.000 limit per quarter. After this period you’ll have the opportunity to switch categories or keep the two you already selected.
You’ll also be able to choose a third spending category to earn 2% cash back on all purchases. This time there’s no limit, so choose wisely because it could be even more worthwhile than the 5% tier rewards. And it’s a lot less limited, since you can include day to day purchases to get rewards.
The 5% categories are mostly niche markets, such as gym memberships, streaming services and select retailers. This means that according to your spending habits, you might have a hard time getting all of the cash back possible.
At last, you’ll also get 1% cash back on all eligible purchases.
How to redeem rewards?
The easiest way to redeem your rewards is by using a US Bank savings or checking account, which you can do directly with a minimum of $25. If you don’t have either of these accounts, then you can get a statement credit.
Be careful not to forget to redeem your rewards as often as possible. They expire after 36 months, so you won’t want to keep them for that long.
Cons for the US Bank Cash+
There’s no way around it, the US Bank Cash+ is a complex credit card to use and earn rewards with. Firstly, we know that many people aren’t fans of having to choose their own reward tiers, which means they might have problems coming to a decision when they first get this card.
Another problem that users often point out is the fact that the 5% cash back tier, which is promptly advertised in every promotional material, is very niche. So if you’re just trying to get a credit card for everyday purchases, this might not be as interesting.
There are other credit cards in the market that offer similar cash back options, but with much simpler programs. If your eyes are set on the 2% cash back for an everyday category, then that’s also the case. You can easily find better cards, this one will mostly be an addition to what you currently hold in your wallet, but in no way can be your only credit card.
Interest rates and fees for this card
There’s no annual fee and you’ll also get some interesting intro offers when you get the US Bank Cash+, as you can check out below:
- 0% intro APR on balance transfers for 15 billing cycles;
- 0% intro APR on purchases for 15 billing cycles;
- 15,99% – 25,99% variable APR after promotional period;
- 3% or $5 balance transfer fee;
- 3% foreign transfer fee for purchases made in foreign currency;
- 2% foreign transfer fee for purchases made in US dollars.
Are you ready to start using this cash back credit card? Submit your application using the official US Bank website today.
Conclusion
The US Bank Cash+® Visa Signature® Card offers a high-reward cash back program with up to 5% cash back on selected categories and 2% on a third chosen category. This flexibility allows you to tailor rewards to your spending habits, which can be advantageous if you manage it actively.
Key Pros:
- High cash back rates (5% and 2% on chosen categories).
- No annual fee.
- Introductory 0% APR on purchases and balance transfers for the first 15 billing cycles.
- Generous sign-up bonus.
Key Cons:
- Requires quarterly category selection, which can be complex and cumbersome.
- 5% cash back categories may not always align with everyday spending needs.
- Higher APR after the intro period and fees for balance transfers and foreign transactions.
In summary, the US Bank Cash+® is best suited for users who can actively manage their categories and want to maximize cash back based on their specific spending habits. If you prefer a simpler rewards structure, you might want to explore other cash back cards that offer more straightforward benefits.
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