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Cash 365™ American Express® Card: Can It Compete With Other 1.5% Offers?

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

Cash 365™ American Express® Card: Can It Compete With Other 1.5% Offers?

Good rewards across all categories. The U.S. Bank Cash 365™ American Express® Card doesn’t stand out from other 1.5% cash back credit cards.
Editor's Rating: 4.5/5.0
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Editor's Rating

{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

4.5/5.0

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer.

Released in June 2016, the U.S. Bank Cash 365™ American Express® Card gives users 1.5% cash back on all purchases. While the U.S. Bank Cash 365™ American Express® Card isn't as special today as it might have been a year ago, it’s still a very solid offer. If you have no loyalty to U.S. Bank, we recommend you explore other options. There are a number of cards with similar benefits and better welcome bonuses.

Review: Should You Apply For The U.S. Bank Cash 365™ American Express® Card

The U.S. Bank Cash 365™ American Express® Card is a good credit card option for current U.S. Bank customers. If you’re looking for the best offers currently available, there are several better fixed-1.5% credit cards currently on the market. For example, the Chase Freedom Unlimited® offers the same rewards rate on all purchases, with a better welcome bonus. For U.S. Bank, however, the U.S. Bank Cash 365™ American Express® Card is easily one of the best cash back credit cards in its portfolio.

Good For…Bad For…
Individuals who want a solid cash back credit card from U.S. BankOptimizers looking to get the highest possible rewards
Big spenders and those who shop with a variety of merchantsUse abroad

A graph comparing the total estimated rewards earned through 1.5% cash back credit cards based on average consumer expenditure data from the BLS.

The graph above is based on average consumer expenditure data on_current="true" by the Bureau of Labor Statistics.

This is one of the few 1.5% cash back credit cards on the American Express network. Generally, American Express is well-regarded for high customer service. This can come in handy if you ever choose to take advantage of one of the Amex-specific perks, such as roadside assistance or purchase protection. The downside is the fact that American Express isn’t as widely accepted as VISA or Mastercard. You are unlikely to see the effects of this if you only use the card within the United States. If you travel to other countries, however, this may become an issue.

Bottom Line: The U.S. Bank Cash 365™ American Express® Card is an excellent choice if you’re looking for a cash back credit card specifically from U.S. Bank. The fixed 1.5% rewards rate is great for individuals with varied spending who want a simple rewards credit card. If you don’t mind doing business with other banks, however, you can find better bonuses and returns.

Cash 365™ American Express® Card Benefits & Features

The U.S. Bank Cash 365™ American Express® Card awards cardholders 1.5% cash back on everyday net purchases. The rewards can take one of three forms. They can be credited to your statement, or deposited into a U.S. Bank Savings, Checking, or Money Market account. Additionally, you can have the cash loaded onto a U.S. Bank Rewards Card. However, note that once the rewards are loaded onto the Rewards Card, they cannot be withdrawn.

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

Cardholders who have a qualifying U.S. Bank product and spend $500 within the first 3 months of account opening receive $100
  • Earn unlimited 1.5% cash back on eligible net purchases
  • New cardmember bonus: $100 after you spend $500 in eligible net purchases in the first 90 days you have the card
  • 0% Intro APR on balance transfers for 12 billing cycles. After that, a variable APR currently 14.74% - 23.74%
  • Unlimited cash back
  • Cash back never expires
  • No annual fee
  • Great Offer for Customers of U.S. Bank, a 2017 World's Most Ethical Company® - Ethisphere Institute, March 2017
  • Earn unlimited 1.5% cash back on eligible net purchases
  • New cardmember bonus: $100 after you spend $500 in eligible net purchases in the first 90 days you have the card
  • 0% Intro APR on balance transfers for 12 billing cycles. After that, a variable APR currently 14.74% - 23.74%
  • Unlimited cash back
  • Cash back never expires
  • No annual fee
  • Great Offer for Customers of U.S. Bank, a 2017 World's Most Ethical Company® - Ethisphere Institute, March 2017
Annual Fee
No Annual Fee
Regular APR
14.74% - 23.74% Variable
Credit Needed
{"onCurrent":true,"message":"There are various types of credit scores. Each creditor uses a variety of different types of credit scores to make lending decisions."}
Excellent
Editor's Rating
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

The information related to the U.S. Bank Cash 365™ American Express® Card has been collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.

New cardholders have the chance to earn a $100 welcome bonus if they meet two requirements. First, you need to have a qualifying U.S. Bank product and be in good standing at the time of application. Qualifying products include: any U.S. Bank-issued Credit Card, U.S. Bank Checking or Savings Account, U.S. Bank Mortgage, U.S. Bank Home Equity Line of Credit, U.S. Bank Student Loan, or a U.S. Bank Retirement Account. Secondly, you must spend at least $500 in net purchases within 90 days of account open date. Cash advances, balance transfers, and fees do not count towards the $500 minimum.

How Does The U.S. Bank Cash 365™ American Express® Card Compare To Other Credit Cards?

As we noted in the beginning of this review, 1.5% cash back credit cards are not new. In fact, several have appeared in the past year alone. The table below summarizes some of these new products, and allows you to quickly compare between them.

U.S. Bank Cash 365™ American Express® CardBarclays CashForward™ World Mastercard®Chase Freedom Unlimited®Wells Fargo Cash Wise Visa® Card
U.S. Bank Cash 365™ American Express® Card
Barclays CashForward™ World Mastercard®
Chase Freedom Unlimited®
Wells Fargo Cash Wise Visa® Card
Welcome Bonus$100 after spending $500 within first 3 months$200 cash rewards bonus after you spend $1,000 in purchases in the first 90 days after account openingNA$200 cash rewards bonus after spending $1,000 in net purchases in the first 3 months
APR14.74% - 23.74% Variable15.99%, 20.99% or 23.99% Variable16.99% - 25.74% Variable16.24% - 28.24% Variable
Promo APR0% introductory APR for the first 12 billing cycles for balances transferred within 30 days from account opening0% introductory APR for 15 months on Balance Transfers made within 45 days of account opening0% Intro APR for 15 months from account opening on purchases and balance transfers0% introductory APR for 12 months on qualifying balance transfers and purchases
Foreign Trans Fee3%3%3%3%
Credit NeededExcellentExcellentGood/ExcellentExcellent
NetworkAmerican ExpressMastercardVISAVISA
Full ReviewFull ReviewFull Review

The information related to the Wells Fargo Cash Wise Visa® Card has been collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication. This offer and/or promotion may have since changed, expired, or is no longer available.

In-Depth Comparisons

To get a better measure of the U.S. Bank Cash 365™ American Express® Card’s worth, we compared it against some other leading cash back credit card options.

U.S. Bank Cash 365™ American Express® Card vs Chase Freedom Unlimited®

The Chase Freedom Unlimited® is another card that offers consumers a 1.5% cash back rate on all purchases. What separates it from the U.S. Bank Cash 365™ American Express® Card is its Ultimate Rewards points, which can be very valuable points with a bit of work. If you ever decide to apply for either the Chase Sapphire Preferred® Card or the Ink Plus® Business Credit Card, all the Ultimate Reward points you accumulated can become transferrable to participating programs. These include airlines such as Southwest and hotels like Marriott. Transferability boosts the value of Ultimate Reward points, and in turn raises the rewards rate on the Chase Freedom Unlimited®. Therefore, you can earn much more than 1.5%, as long as you combine it with one of the aforementioned cards.

Another advantage the Chase Freedom Unlimited® has over the U.S. Bank Cash 365™ American Express® Card is when it comes to the special rewards rate for new cardholders. With the Chase Freedom Unlimited®, new cardmembers can earn 3% cash back on all purchases in the first year for up to $20,000 spent.

U.S. Bank Cash 365™ American Express® Card vs Chase Freedom®

The Chase Freedom® is one of our most recommended top cash back credit cards. Instead of offering a fixed rate on all purchases, the Chase Freedom® card gives 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter. The bonus categories rotate throughout the year, and include things such as gas stations, restaurants, select grocery stores, and wholesale clubs. You can see the 2019 calendar below (Chase has yet to announce all of the categories).

Qtr. 1Qtr. 2Qtr. 3Qtr. 4
Gas stations, Tolls, and DrugstoresGrocery stores (not including Walmart & Target) & Home Improvement storesGas Stations and Select Streaming ServicesTBA

As long as 12.5% of your total purchases fall into the 5% bonus categories, the Chase Freedom® will outperform the U.S. Bank Cash 365™ American Express® Card. This is assuming you don’t hit the $1,500 quarterly limit. If you are a big spender, the math gets trickier. If you max out the 5% categories, and spend over $4,000 per month, we recommend going with a fixed 1.5% cash back card, like the U.S. Bank Cash 365™ American Express® Card.

Compare the U.S. Bank Cash 365™ American Express® Card Based on Your Spending

We built a tool that allows cardholders to estimate the rewards they can get out of each card, based on their individual spending profile. Input your approximate monthly budget below, and our calculator will show you how the U.S. Bank Cash 365™ American Express® Card and its competitors stack up.

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Assumptions based on $1,430 monthly spend
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Comments and Questions

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).