U.S. Bank Cash+® Visa Signature® Credit Card Review: Customizable 5% Cash Back

by Adam Palasciano
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Updated on May 13, 2022

Yet again, more cash back credit cards are being added to the market. It’s no surprise considering the outrageous level of inflation we’re all experiencing! But, only a few cards are worth a look: one of them is the relatively new U.S. Bank Cash+® Visa Signature® Credit Card. This is the perfect card if you’re looking for a high percentage of cash back on categories that you get to choose!

Let’s go through the highlights in this U.S. Bank Cash+® Visa Signature® Credit Card review so you can determine if it’s the right card for your wallet:

How Does the U.S. Bank Cash+® Visa Signature® Credit Card Work?

Here’s the breakdown for the U.S. Bank Cash+® Visa Signature® Credit Card:

Annual Fee: $0

New Member Bonus Offer: Earn a $200 cash rewards bonus after spending $1,000 in eligible purchases within the first 120 days of your account.

Rewards Rates and Categories:

  • 5% Cash Back on your first $2,000 in combined eligible purchases each quarter on two of the 12 following categories of your choosing. These include:
    • Fast food
    • TV, internet, and streaming services
    • Cell phone providers
    • Home utilities
    • Department stores
    • Electronic stores
    • Sporting good stores
    • Movie theaters
    • Gyms and fitness centers
    • Furniture stores
    • Ground transportation
    • Clothing stores
  • 5% Cash Back on air travel, hotel, and rental cars booked directly in U.S. Bank’s Travel Center.
  • 2% Cash Back on one everyday category of your choosing. These include:
    • Grocery stores
    • Gas stations and EV charging stations
    • Restaurants
  • 1% Cash Back on all other purchases

Credit Score Required: 700+ (Check your credit score for free here.)

What are the Best Benefits of the U.S. Bank Cash+® Visa Signature Credit Card?

U.S. Bank & Canva
  • No Annual Fee: A cash back card of this caliber is not to be overlooked, considering its high 2% – 5% cash back in specific purchase categories.
  • A Generous $200 Bonus: Earn $200 when you spend $1,000 within the first 120 days of your account.
  • 5% Cash Back on Customizable Categories: Unlike other cash back credit cards where the 5% cash back categories are preselected for you, this card allows you to choose two of 12 different categories to receive the 5% cash back! Finally, you have the freedom and flexibility to earn on the purchase categories you choose (woo!)
  • 2% Cash Back on Everyday Essentials: On top of the 5% cash back, you’ll also receive 2% cash back with no limit on the essentials we all spend money on, every day: groceries, gas or vehicle charging, and restaurants.

Some great additional benefits include:

  • Flexible Redemption: Get your cash back as a statement credit, U.S. Bank Rewards Card, gift card, or cash deposited directly into an eligible U.S. Bank checking or savings account.
  • Earn additional cash back when making purchases with your card at over 1,100 stores through the Rewards Center Earn Mall.
  • Contactless Feature: Use your card to “tap and go” wherever contactless cards are accepted.

How Can You Redeem Cash Back with the U.S. Bank Cash+® Visa Signature® Credit Card?

If you want to redeem your cash back rewards, there are minimums for specific redemption categories. Cardholders have several options when it comes to how to redeem their cash back.

The following have no minimum required to redeem:

  • Statement credit
  • U.S. Bank Rewards Gift Card
  • Merchandise

For Gift Cards, it’s a $20 minimum for redemption and you can only redeem in $5 increments.

What Are The Pros and Cons of the U.S. Bank Cash+® Visa Signature® Credit Card?

Pros

  • You’ll save cash with no annual fee.
  • It’s easy to get the new member bonus since it’s only a $1,000 minimum spend in the first 120 days of your account.
  • Choose/switch between 15 different cash back categories to save you money.

Cons

  • You’ll need excellent credit to qualify.
  • There’s a 3% foreign transaction fee if the purchase is made in a foreign currency and 2% if it’s in U.S. dollars.
  • There is a balance transfer fee of 3% of the amount of each transfer or $5 minimum, whichever is greater.
  • Somewhat limited as to the types of ways you can redeem your cash back, when compared to other credit cards.

The Bottom Line

The U.S. Bank Cash+® Visa Signature® Credit Card should be your first choice if you’re looking to maximize your cash back. The most unique feature of this card is the freedom of choice. If you make most of your purchases with a credit card and like the idea of being able to switch from one category to another where you can save 2% – 5%, this is your new credit card. If you like what you’ve read, act now!

Read More: U.S. Bank Altitude Go Review: 4X Points at Restaurants, No Annual Fee

The Smart Wallet has partnered with CardRatings for our coverage of credit card products. The Smart Wallet and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.