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US Bank Cash+ Credit Card: BiggerPockets Review

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This card is best for users with regular spending patterns who can forecast their charges to effectively max out their cash-back earnings potential.


The basics

The U.S. Bank Cash+ Visa Signature Card credit card’s most obvious perk is its $0 annual fee. And that’s especially notable given that many other cards that offer cash-back bonuses do have fees—sometimes hefty ones. This card has a three-tiered cash-back system, offering rewards in one percent, two percent, or five percent categories, all of which are customizable. 

Real estate investors should know that this card is best for ordinary, everyday transactions (say, maintenance needs or rental home amenities), rather than large purchases that will be paid off over time, since its APR ranges from 13.99 percent to 23.99 percent. That’s a lot to carry month to month. (There’s zero percent APR for balance transfers for an introductory period, but it doesn’t apply on new purchases.)



Quick facts

  • This card carries no annual fee.
  • Current offerings include a $200 cash signup bonus, with zero percent introductory APR on balance transfers for a year.
  • The card offers cash back in a three-tiered system: one, two, and five percent.
  • The cardholder has the flexibility to customize the cash-back categories based on regular spending.
  • Additional benefits include Visa Signature’s concierge service, extended warranty coverage on purchases, roadside assistance, and more.

CURRENT SIGNUP BONUS
With this card, you will earn a $200 rewards bonus after you apply online and spend $500 in eligible purchases within the first 90 days of account opening. As well, new cardholders will get zero percent introductory APR on balance transfers for the first 12 billing cycles. 

CREDIT REQUIREMENTS
If your creditworthiness is shaky, this may not be the card for you: Aim for a 700 or above score to be approved for this card. This is a card for people with good to excellent credit.



The stats

  • APR: Zero percent introductory APR on balance transfers for the first 12 billing cycles. After that, the APR is variable, currently at 13.99 to 23.99 percent.
  • Annual fee: $0
  • Balance transfer fee: Three percent of each transfer amount, with a $5 minimum
  • Foreign transaction fee: Two percent of each foreign purchase transaction or foreign ATM advance transaction in U.S. dollars. Three percent of each foreign purchase transaction or foreign ATM advance transaction in another currency.


The rewards

Rebates for this card fall into three tiers: one percent, two percent, and five percent. For the larger two categories, cardholders must select their customizable categories each quarter. (If you don’t, you’ll earn the lower one percent cash back.) All remaining eligible purchases earn one percent.

If you spend more than $2,000 within one quarter in your 5 percent purchase categories, additional purchases will earn only the one percent. 

Cash rebates will appear on your monthly account statement. Cardholders can redeem in the form of either a statement credit or a deposit made to a U.S. Bank savings, checking, or money market account.



PROS

  • $0 annual fee.
  • There’s a cash signup bonus, plus an introductory zero percent APR on balance transfers.
  • It offers cash-back on purchases in a three-tiered system, and you can customize the categories.


CONS

  • After the introductory period, the balance transfer fee is three percent.
  • This card requires some administrative elbow grease on the part of the user to get max benefits: To get the two percent and five percent cash-back rewards, you’ll have to register your selected categories; only purchases made after registering them and before the end of each quarter qualify to earn these bonuses. 
  • If you travel abroad regularly, the foreign transaction fees up to three percent will add up fast.




Our editorial team’s recommendations are a result of their independent and vigorous research. Our writers and editors are never made aware of which companies have established partnerships with our business team prior to writing their reviews.