U.S. Bank Cash+ Review

The U.S. Bank Cash+® Visa Signature® Card is best for strategic spenders who are willing to do a little extra planning to maximize cash back rewards. Don’t worry; you don’t need to be a math major to maximize those rewards. With a Cash Back Score of 4.1 out of 5, it ranks 14th among cash back cards, thanks to its customizable 5% cash back categories and no annual fee.

The card's standout 5% cash back is well worth the extra planning you need to get the most out of the card. The 5% categories have a combined spend cap of $2,000 each quarter, and you need to activate them each quarter (even if they are the same as last quarter). The 5% categories offer some cash back bonus categories, like utilities, that are hard to find with other cards. Still, some categories are often more narrowly defined than you’d typically see for a cash back category. For example, the U.S. Bank Cash Plus 5% category is "Fast Food," while other cards typically bonus all dining if they bonus dining cash back.

For those considering alternatives, the Citi Custom Cash® Card offers a similar 5% cash back on top spending categories but without the need for quarterly activation. However, the U.S. Bank Cash+® Visa Signature® Card's flexibility in choosing categories each quarter may still make it the better option for those who can manage the activation process effectively.

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The U.S. Bank Cash+ card ranks 10th among cash back cards due to its customizable 5% cash back categories. Compared to flat-rate cards like the Capital One Quicksilver, it offers higher rewards potential but requires active management. The card’s cash back rewards are as follows:

• 5% cash back on two categories of your choice, up to $2,000 in combined purchases each quarter. Categories require activation each quarter.
• 5% cash back on prepaid travel booked through the Rewards Travel Center
• 2% cash back on one everyday category, such as gas stations or grocery stores
• 1% cash back on all other eligible purchases

5% Categories

We noted in our research that the 5% categories are narrower than the definitions of bonus categories from other cards. If you get take-out, you may actually be outside of the "Fast food" category purely based on the vendor’s merchant codes. That said, the Cash+ card is a great option for high cash back on some recurring purchases that are hard to find bonus cash back in — for example, utilities.

You can select from these 12 categories:

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

Categories are eligible 45 days before the quarter and can be made online or via application. It’s important to note that your 5% category selections are not retroactive, so set a calendar reminder to pick your categories on the first of the 3rd month (March, June, September, December).

Redemptions

When it comes to redeeming your cash back, you can redeem it as a statement credit or a direct deposit into your U.S. Bank account starting at $25. U.S. Bank offers Real-Time Rewards, a program that, upon activation, uses text messaging to apply redemptions directly to purchases in categories of your choice. Your cash back expires 36 months after the billing cycle in which it is earned, so you'll need to redeem your rewards to avoid losing them.

The U.S. Bank Cash+ can be hard to get. The bank recommends a credit rating of good to excellent. However, user feedback suggests U.S. Bank's approval process can be conservative, often requiring a call to the reconsideration line. Some users report low initial credit limits, like one who said, "I got approved after contacting the recon line for the second time, but with a $500 credit limit." If you're considering this card, be prepared for potential hurdles in the approval process.

Cardholders of the U.S. Bank Cash+ Secured card may be automatically upgraded to the unsecured Cash+ card based on responsible use. U.S. Bank states that they review your accounts after 12 months for upgrade opportunities.

Cardholder satisfaction with the U.S. Bank Cash+ is in the middle of the pack, with an issuer satisfaction rating of 3.5 out of 5. Users appreciate the customizable rewards, particularly for recurring bills, as noted in online forums. Cardholders express frustration with merchant code limitations and the need for quarterly activation. Approval processes and credit limits also receive criticism.

U.S. Bank Cash+ is lacking in additional perks beyond the cash back rewards like most other cash back cards. The card’s only feature different from other Visa Signature cards features is the pay over time option, U.S. Bank ExtendPay, which allows you to divide your existing balance into fixed payments.

The U.S. Bank Cash+ offers a good introductory package: 0% APR for 15 billing cycles on purchases and balance transfers, then a variable APR of 18.74% - 28.99% after that, plus a $200 bonus for spending $1,000 in the first 120 days.

Introductory APR Offers

A standout feature is a 0% introductory APR on purchases for 15 billing cycles, followed by 18.74% - 28.99% variable APR afterwards. Although several cards offer 15 months, this is the second-longest intro period on new purchases we’ve seen on the market.

Similarly, the 0% APR on balance transfers for the same period, followed by 18.74% - 28.99% variable APR afterwards is advantageous for consolidating existing debt. Its rating of 3.5 and ranking of 5 indicate it is a competitive option among cash back cards.

Welcome Bonuses
The $200 welcome bonus, earned after spending $1,000 within 120 days, is a decent offer but not the best. It suffers from a higher spend requirement, albeit over 6 months rather than the typical 3 months.

The U.S. Bank Cash+ card offers a competitive but otherwise unexceptional fee structure. For example, its regular APR of 19.49%–29.74% is average compared to other cards. Here's a breakdown of the card's fees:

• Annual Fee: $0
• Regular APR: 19.49%–29.74% variable
• Cash Advance Fee: 5% of the amount of each advance or $10 minimum, whichever is greater
• Foreign Transaction Fee: 3% of each foreign transaction
• Late Payment Fee: Up to $41
• Returned Payment Fee: Up to $41
• Balance Transfer Fee: 3% of the amount of each transfer (minimum $5)

To help you decide on the U.S. Bank Cash+, we compare it with similar cash back cards.

The U.S. Bank Cash+ is a good option for strategic spenders who can stay on top of its customizable rewards. Its quarterly activation requirement and merchant code limitations may not suit everyone. Compared to similar cards, it stands out for its flexibility but lacks additional perks.

We evaluated the U.S. Bank Cash+ using our Cash Back Score, ranking it 14th among 78 cards. Key features were weighted as follows:

• Effective Reward Rate (50%): Measures how rewarding the card is, with a 5 indicating high rewards.
• Annual Fee (10%): Rated from 1 to 5, with 5 meaning no fee.
• Introductory Purchase APR, Recommended Credit, Issuer Satisfaction, Penalties, Regular APR, Foreign Transaction, Return on Welcome Bonus, Perks Value (5% each): Various aspects rated from 1 to 5, assessing factors like APR offers, credit accessibility, and fees.

All information about the Chase Freedom Flex has been collected independently by MoneyGeek.com and has not been reviewed by the issuer.