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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

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

Editor's Rating

4.5/5.0

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 sign-up 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
U.S. Bank Cash 365™ American Express® Card
Annual Fee
No Annual Fee
Purchase APR
14.74% - 23.74% Variable
Credit Needed Excellent
Details
  • 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

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®
This card is not available through ValuePenguin.
Chase Freedom Unlimited®
Wells Fargo Cash Wise Visa® Card
Signup 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 opening$150 Bonus after you spend $500 on purchases in your first 3 months from account opening$200 cash rewards bonus after spending $1,000 in net purchases in the first 3 months
APR14.74% to 23.74% Variable15.99%, 20.99% or 25.99%* Variable16.99% - 25.74% Variable15.99%-26.99% (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 balance transfers and purchases
Foreign Trans Fee3%3%3%3%
Credit NeededExcellentExcellentGood/ExcellentExcellent
NetworkAmerican ExpressMastercardVISAVISA
Full ReviewFull ReviewFull Review

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 sign-up bonus. If you spend $500 within the first 3 months of your account opening, the Chase Freedom Unlimited® gives you $150. That’s $50 more than the current welcome offer on the U.S. Bank Cash 365™ American Express® Card.

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 2018 calendar below.

Qtr. 1Qtr. 2Qtr. 3Qtr. 4
Gas stations, internet, cable, and phone services, Chase Pay, Google Pay, Apple Pay and Samsung PayGrocery Stores (no Walmart or Target), Paypal and Chase PayGas stations, Lyft and WalgreensDepartment stores, wholesale clubs and Chase Pay

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.

Assumptions Based On Monthly Spend of: $1,430 Edit
General:
U.S. Gas Stations:
U.S. Supermarkets:
Airlines:
Hotel:
U.S. Restaurants:
Office:
Utilities:
Computing:
Card Annual Fee 2-yr Net Rewards Rate

The Net Rewards Rate is equal to the Rewards Value over two years divided by the total spending. The total spending is equal to the values entered into the tool and multiplied by 24 months. See the rewards Value note to see details on how it is calculated.

The estimates here are ValuePenguin's alone. They are not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. All estimates are based on the spend assumptions entered above (which you can edit).

Bonus Value

The bonus field shows our estimate for the value of the card’s welcome bonus. If the bonus is point or mile based, we multiply the total bonus points/miles by our estimate for their value to arrive at a dollar equivalent. We display $0 if there is no bonus or if the user doesn’t qualify for the bonus based on the current spending entered into the tool. All estimates are based on the spend assumptions entered above (which you can edit).

The estimates here are ValuePenguin's alone. They are not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

2-yr Rewards Value

The Rewards value is calculated by adding together the rewards earned from charging purchases to the card over two years and any welcome bonuses (if applicable). They are then multiplied by our estimated point/mile value, with any annual fees (if applicable) subtracted. All values are based on our own estimates for the dollar value of any points, miles or bonuses earned using a card and on the spend assumptions entered above (which you can edit).

The estimates here are ValuePenguin's alone. They are not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

U.S. Bank Cash 365™ American Express® Card
No Annual Fee 1.79%
$100
Cardholders who have a qualifying U.S. Bank product and spend $500 within the first 3 months of account opening receive $100
$615
Graph Card Read Review More Details and Value Calculation

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 515 x $1 = $515
Bonuses
0 x $1 = $0
0 x $1 = $100
Total Net Estimated Rewards Through 24 Months 615

*The value estimate is calculated using ValuePenguin.com rewards point value.

Annual Fee No Annual Fee
APR 14.74% - 23.74% Variable

Card Details

  • 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
Chase Freedom®
$0 1.44%
$150
Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
$493
Graph Card Read Review More Details and Value Calculation

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 343 x $1 = $343
Bonuses
0 x $1 = $150
Total Net Estimated Rewards Through 24 Months 493

*The value estimate is calculated using ValuePenguin.com rewards point value.

Annual Fee $0
APR 16.99% - 25.74% Variable

Card Details

  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.99-25.74%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
  • Enjoy new 5% categories each quarter
  • Unlimited 1% cash back on all other purchases - it's automatic
  • Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back.
  • Free credit score, updated weekly with Credit Journey℠
  • No annual fee

Comments and Questions

Opinions, analyses, reviews, or recommendations expressed here are the author's alone, and have not been reviewed or endorsed by the issuer. We may be compensated through the issuer's Affiliate Program. For a full list of our advertisers see our disclosure page

* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Now" button, you can review the credit card terms and conditions on the issuer's website.

Info about the following cards: Premier Rewards Gold Card from American Express, Delta Reserve® Credit Card from American Express, Platinum Delta SkyMiles® Credit Card from American Express, Hilton Honors Surpass® Credit Card, American Express® Blue Sky, American Express® Green Card, The Amex EveryDay® Preferred Credit Card from American Express, The Amex EveryDay® Credit Card from American Express, The Plenti® Credit Card from Amex, Blue from American Express®, Platinum Card® from American Express Exclusively for Mercedes-Benz, Bluebird, Centurion® Card from American Express, Hilton Honors American Express Aspire Card, Starwood Preferred Guest® American Express Luxury Card, and Amazon Business American Express Card has been collected independently by ValuePenguin. The issuer did not provide the details, nor is it responsible for their accuracy.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.

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.

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® Card 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).

Advertiser Disclosure: Some of the offers that appear on this website are from companies which ValuePenguin receives compensation. This compensation may impact how and where offers appear on this site (including, for example, the order in which they appear). The site does not review or include all companies or all available products. For more information please see our Advertiser Disclosure.