U.S. Bank Cash+ Visa Signature Card Review: Is It One of the Best?

U.S. Bank Cash+ Visa Signature Card Review: Is It One of the Best?

The U.S. Bank Cash+™ Visa Signature® Card earns up to 5% cash back on your choice from 12 spending categories.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

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Pros

  • Up to 5% on two categories you choose each quarter
  • $0* annual fee
  • Attractive sign-up bonus
  • Introductory APR on balance transfers

Cons

  • The 5% bonus is limited to $2,000 per quarter
  • Bonus cash back is limited to three categories
  • 5% categories cover more niche purchases like gym memberships and movie theaters
  • Balance transfer offer timeframe is shorter than competitors
  • Cannot deposit cash back into a non-U.S. Bank account
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Cashback credit cards with high rewards often limit your bonuses to just a handful of categories. Many don't even let you choose which quarterly categories that you'll earn rewards in. However, the U.S. Bank Cash+™ Visa Signature® Card solves those problems by allowing you to pick the two categories where you'll earn up to 5% cash back.

The card also offers a welcome bonus of $150 after you spend $500 in eligible net purchases in the first 90 days of account opening. Plus, you can use a 0%* intro APR for 12 billing cycles on balance transfers to eliminate interest on your debt for a year (then an APR of 13.99% - 23.99%* (Variable) applies).

With these new account promotions and flexible cashback categories, the U.S. Bank Cash+™ Visa Signature® Card is an attractive choice for new cardholders and those who want to maximize their rewards on ongoing purchases.

Earn a $150 rewards bonus

New cardmembers can earn a one-time bonus of $150 after you spend $500 in eligible net purchases in the first 90 days of account opening.

The $150 bonus will post as a credit to your card within six to eight weeks after you've met the minimum spending requirements. Existing and previous Cash Rewards customers do not qualify for this bonus.

Note, that while this is a solid sign-up bonus, you can find better offers with a few other cashback cards, such as the Chase Freedom Flex℠ and the Bank of America® Customized Cash Rewards credit card.

Earn 5% cash back on 2 categories

With the U.S. Bank Cash+™ Visa Signature® Card, you will earn 5% cash back on your first $2,000 in combined eligible net purchases ($100 per quarter) on two categories you choose. That adds up to $400 cash back!

Each quarter, you’ll need to manually activate your three bonus categories at usbank.com/cashplus. You'll pick two out of the 12 categories to earn up to 5% cash back and one out of three choices to earn an unlimited 2% cash back:

U.S. Bank Cash+ categories

2% Categories (pick one)

  • Gas stations
  • Grocery stores
  • Restaurants

5% Categories (pick two)

  • Cell phones
  • Department stores
  • Electronics stores
  • Fast food
  • Furniture stores
  • Ground transportation
  • Gyms and fitness centers
  • Home utilities
  • Movie theaters
  • Select clothing stores
  • Sporting goods stores
  • TV, internet and streaming services

You can change your 5% bonus categories each quarter based on your upcoming purchases to maximize your cash back. Log in 45 days before the quarter begins to review your options and select your choices. If you make a choice but decide to change it, you have until five days before the start of the quarter to select a new bonus category. Once your choices have been made, you'll start earning bonus cash back three business days later.

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Compared with other credit cards that offer 5% quarterly categories, the U.S. Bank Cash+™ Visa Signature® Card may be a more attractive option for some applicants, since it allows you to choose your cashback categories, unlike some of its competitors. With other cards like the Chase Freedom Flex℠ and the Discover it® Cash Back, if your spending doesn't align with the bank's choices, you may not be able to maximize your cash back.

In addition, some 5% cashback cards with rotating categories are capped at $1,500 in spending each quarter. The U.S. Bank Cash+™ Visa Signature® Card earns 5% each quarter on the first $2,000 in spending, which is 33% higher than its competitors.

On the other hand, other cards tend to offer 5% back on broader categories like grocery stores and restaurants, whereas the U.S. Bank covers more niche categories like streaming services and gym memberships. You should see which card's categories best fit your spending — you may find that you'll earn more with a different 5% cashback card.

Redeeming cash back

The rewards that you earn with the U.S. Bank Cash+™ Visa Signature® Card are simple to redeem. You have four redemption options, and each option has a different minimum:

  • Deposit to your U.S. Bank savings, checking or money market account (no minimum)
  • Statement credit to your credit card ($25 minimum effective June 1, 2021)
  • Real-Time Rewards ($10 minimum)
  • Receive a U.S. Bank Rewards gift card ($25 minimum)

Your rewards are worth the same, no matter which option you choose. However, the gift card is the least valuable choice, as you won’t earn rewards when making purchases on that gift card.

One major downside to the U.S. Bank Cash+™ Visa Signature® Card's rewards is that they expire in 36 months — this is more restrictive than other cards, like the Chase Freedom Flex℠, whose rewards do not expire.

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To redeem your cashback rewards, you can make your request online or over the phone. When you log in to your online account, click on "Rewards Center" and make your selection. You may also call customer service to make your request over the phone.

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Other U.S. Bank Cash+™ Visa Signature® Card benefits

In addition to earning up to 5% cash back on your purchases, the U.S. Bank Cash+™ Visa Signature® Card offers a few other valuable benefits, including:

New customers will enjoy a 0%* intro APR for 12 billing cycles on balance transfers. This allows consumers to transfer balances from other cards to eliminate interest payments for up to one year. Eligible balance transfers will need to be completed within 60 days of opening the account. After the promotion period expires, the regular APR will be 13.99% - 23.99%* (Variable), based on your creditworthiness as of when you opened your account.

The card’s Roadside Dispatch® benefit is a pay-per-use program that offers services such as towing, tire changes and fuel delivery for a set price.

The card also offers emergency services for travelers, including emergency travel assistance and emergency cash and card replacement.

How does the U.S. Bank Cash+™ Visa Signature® Card compare to other cards?

While the U.S. Bank Cash+™ Visa Signature® Card offers attractive cash back rewards, other credit cards offer similar earning power:

U.S. Bank Cash+™ Visa Signature® Card vs. Chase Freedom Flex℠

On Chase's Secure Website

The Chase Freedom Flex℠ lets you Earn 5% cash back on eligible purchases in rotating categories, 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases. You must enroll each quarter to earn the 5% bonus, which is limited to $1,500 in purchases per quarter (then 1% cash back).

Generally, most of the card’s bonus categories do not line up with those on the U.S. Bank Cash+™ Visa Signature® Card. In choosing between the two cards, you should take the time to evaluate each card's bonus categories.

If you only want to apply for one card, pick the one whose categories you're likely to spend the most in. With the Chase Freedom Flex℠ you should also take into consideration the fact that you don’t get to pick the categories, so the timing of your purchases is important. Look at when each 5% category is offered during the year, and see if it will align with your type of spending in that quarter.

U.S. Bank Cash+™ Visa Signature® Card vs. Bank of America® Customized Cash Rewards credit card

The Bank of America® Customized Cash Rewards credit card is another cashback card that allows customers to choose their top-earning bonus category. You'll earn up to 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs (for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% cash back on all other purchases

The Bank of America® Customized Cash Rewards credit card caps its bonus cash back at $2,500 in combined spending of its 2% and 3% bonus categories, which means you'll earn a maximum of $300 in bonus category cash back each year. By comparison, maxing out the 5% cash back categories with the U.S. Bank Cash+™ Visa Signature® Card earns $400 per year, before factoring in the unlimited 2% cash back opportunity.

Through Bank of America's Preferred Rewards program, people with a qualifying Bank of America account can get a bonus of 25% to 75% on the rewards they earn, which means your top category bonus would be 5.25%. Although many households don't have deposit or investment accounts large enough for qualification, this is still a significant earnings opportunity for those who do.

New cardholders can earn a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. While the Bank of America® Customized Cash Rewards credit card offers a better welcome offer, the U.S. Bank Cash+™ Visa Signature® Card earns more rewards in its bonus categories for average households over the long term.

U.S. Bank Cash+™ Visa Signature® Card vs. Citi® Double Cash Card – 18 month BT offer

On Citibank's Secure Website

If you’re in the market for a cash back credit card, the Citi® Double Cash Card is worth considering. While you can’t optimize it to provide you returns as high as those on the U.S. Bank Cash+™ Visa Signature® Card, it does let you Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.

The unlimited 2% cash back is attractive for consumers that don't want to manually activate quarterly promotions or worry about keeping track of which categories earn a bonus. You should also keep in mind the U.S. Bank Cash+™ Visa Signature® Card caps the 5% cash back at $2,000 in purchases within two categories each quarter — because of that, big spenders may be better off with the Citi® Double Cash Card .

While the Citi® Double Cash Card has a longer balance transfer promo than the U.S. Bank Cash+™ Visa Signature® Card, it doesn’t offer a welcome bonus when you apply. Some customers might rather have the extra cash back over the extra months of interest-free financing on balance transfers.

Is the U.S. Bank Cash+™ Visa Signature® Card worth it?

Yes, the U.S. Bank Cash+™ Visa Signature® Card is worth it. It offers 12 bonus categories to choose from that can earn up to 5% cash back each quarter. Plus, you can choose among three options to earn an unlimited 2% cash back. New cardholders can earn a bonus of $150 and take advantage of a 0%* intro APR for 12 billing cycles on balance transfers (an APR of 13.99% - 23.99%* (Variable) applies thereafter).

This card is best suited for people who want to maximize their spending on its bonus categories and don't mind having to remember to activate the bonuses every quarter. It offers the most bonus categories to choose from among similar cashback cards.

For people that want automatic bonus cash back without having to remember to register or keep track of bonus categories, the Citi® Double Cash Card – 18 month BT offer is a better option. Those who have larger balances in their bank and investment accounts should consider the Bank of America® Customized Cash Rewards credit card, since they can earn up to 75% more points based on their relationship balances. You'll find more details on these cards on our review of the best cashback credit cards.

What is a U.S. Bank Cash+™ Visa Signature® Card?

The U.S. Bank Cash+™ Visa Signature® Card is a cashback credit card that offers up to 5% cash back on your purchases. Earn 5% cash back on your first $2,000 in combined eligible net purchases ($100 per quarter) on two categories you choose. That adds up to $400 cash back! You can also choose one category to earn an unlimited 2% cash back in. All other purchases earn 1% cash back.

Do U.S. Bank Cash+™ Visa Signature® Card points expire?

Your cashback rewards expire at the end of the calendar month, 36 months after they were earned. This gives you just about three years to redeem your cash back.

What are the U.S. Bank Cash+™ Visa Signature® Card categories?

The U.S. Bank Cash+™ Visa Signature® Card has two types of bonus categories — 5% and 2%. The first category earns 5% cash back on the first $2,000 you spend each quarter on the two merchant types that you choose. You can choose two categories from the following 12 options: TV, internet, and streaming services; fast food; cell phone providers; department stores; home utilities; select clothing stores; electronic stores; sporting goods stores; movie theaters; gyms and fitness centers; furniture stores; and ground transportation. Additionally, you can earn unlimited cash back on one of the following three 2% cash back categories: grocery stores, gas stations and restaurants.

How do I redeem my U.S. Bank Cash+™ Visa Signature® Card rewards?

Cash+ rewards can be redeemed any time online or over the phone through the U.S. Bank rewards center. Log in to your online account and select "Rewards Center" to make your selection, or call customer service at 800-285-8585 and ask to redeem your rewards.

Does the U.S. Bank Cash+™ Visa Signature® Card charge a foreign transaction fee?

Yes, the U.S. Bank Cash+™ Visa Signature® Card does charge a foreign transaction fee. The fee varies depending upon which currency the transaction is processed in. The fee is 2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. Dollars; 3% of each foreign purchase transaction or foreign ATM advance transaction in a Foreign Currency.

The information related to U.S. Bank Cash+™ Visa Signature® Card and Bank of America® Customized Cash Rewards credit card has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.

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).