U.S. Bank Cash+ Visa Signature Card Review
People who like cash back or travel rewards should try the U.S. Bank Cash+ Visa Signature card. It comes with several perks that give the US Bank credit card a lot of flexibility. This is a huge perk for any cardholders or potential cardholders. There are several other notable perks as well. However, this card also has downsides, and you have to know about them as well.
U.S. Bank Cash+ Visa Signature Card Pros
US Bank Credit Card With No Annual Fee
As the US Bank Visa is a travel and a rewards card, the no annual fee is huge. You’ll pay nothing each year for using this card. You can use it as little or as much as you want without having to justify it. Any rewards you earn are yours to keep. You also get a very good rewards rate with this card.
U.S. Bank Cash+ Visa Signature Card Sign Up Bonus
The U.S. Bank Cash+ Visa Signature card has a very reachable credit card sign-up bonus as well. You’ll get a $150 statement credit for spending $500 in three months. This works out to spending around $166 per month. Your sign up bonus will appear as a statement credit. So this is very reasonable for a rewards credit card.
Choose Your Quarterly Bonus Categories
The U.S. Bank Cash+ Visa Signature card allows cardholders to choose their bonus categories. You can switch these out every three months as well. This is a unique perk that allows you to plan for larger purchases. You’ll also know exactly what you get bonuses on each quarter, and this is important. It can be difficult to keep track of rotating rewards categories unless you choose them yourself.
US bank Visa Offers Unlimited Large Cash Back Earning
The US Bank credit card comes with unlimited cash back potential. You can stack your rewards for a certain period before you have to use them. So, if you use the card a lot, you’ll earn quickly. Also, you get 5% cash back on the first $2,000 in your chosen categories. When you combine all of this, you have huge earning potential.
Several Rewards Categories
You get 2% cash back at gas stations, restaurants, and grocery stores. These three categories stay the same all year-round. However, you get your choice of 5% cash back on rotating categories. Choose from gyms, cell phones, bookstores, electronics, clothing, furniture, car rentals, charity, movie theaters, or fast food. If you spend outside of these categories, you get 1% cash back.
No Minimum Redemption Amount
There are no minimum rewards amounts you have to hit before you redeem. Earn as little or as much as you want and redeem them when you want to. You can have them deposited into your checking or savings, or as a statement credit.
Visa Signature Benefits
The U.S. Bank Cash+ Visa Signature card gives you access to the Visa Signature Benefits program. You get 24/7 concierge assistance for help booking hotels or travel. You also get complimentary upgrades to travel, resort upgrades, and cruise line upgrades. Finally, you’ll get specials on movie tickets, dining and wine experiences, and shopping discounts.
For balance transfers, you get a 12 month introductory APR. As long as you transfer your balances within 60 days, you’ll get this offer. You’ll pay 0% APR on any balances you transfer for 12 months. As long as you can pay your balances off, this can save you a lot of money.
U.S. Bank Cash+ Visa Signature Card Cons
Have to Remember to Choose New Rewards Categories
It’s your responsibility as a cardholder to remember to choose new rewards categories each quarter. If you don’t remember each quarter, your rewards rate will fall. Instead of getting 5% cash back, you’ll get 1% cash back. This amount is one of the lowest amounts of any rewards cards.
Foreign Transaction Fee
As the U.S. Bank Cash+ Visa Signature card can be considered a travel card, a foreign transaction fee is bad. If you travel and use this card, you’ll pay 3% each time you use it through a non-US bank. This can add up quickly, and you get no say in it. It’ll also appear on your statement if you purchase something internationally.
While you can earn unlimited rewards, these credit card rewards expire. You have to redeem your rewards at least once every 36 months. If you don’t, they’ll expire, and you’ll lose them. This can be bad if you stacked them and you lost a lot of rewards. So, it is important to redeem your rewards on a regular basis.
This is a reward credit card, so you expect a slightly higher APR. However, it’s variable. It also depends on what your credit score is when you apply for the card. The APR ranges from 15.24% to 24.24%. If you have a lower credit score and carry a balance, you could end up paying for it.
Can’t Transfer Rewards
Once you earn your rewards, you can’t transfer them to another program. This is slightly restrictive, especially if you routinely earn a decent amount. You redeem them for straight cash back and nothing else. If you were looking for a card where you can combine rewards programs, this isn’t the card for you.
Rewards Rate Caps Each Quarter
You have a capped rate of $2,000 per quarter for the 5% cash back. It drops down after this. If you’re planning on purchasing furniture or large items, you’ll meet his cap quickly. It starts over each quarter, but it’s still very easy to meet it with more expensive items.
U.S. Bank Cash+ Visa Signature® Card Bottom Line
The U.S. Bank Cash+ Visa Signature card is great for people who like flexibility. It’s a solid rewards card with several perks for cardholders to enjoy. However, it also has restrictions that can cost you if you travel like the foreign transaction fee. Overall, this is a good rewards card, and it is worth considering.
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