U.S. Bank Cash+ Visa Signature Credit Card Review

By Christina Majaski. Last updated 27 June 2017. 0 comments

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U.S. Bank offers a line of cash back and travel rewards credit cards that merit your consideration. The U.S. Bank Cash+ Visa credit card is particularly notable in that it lets its cardholders choose which bonus categories they want for each quarter. This means that you can adjust your bonus categories according to the purchases you plan to make in the future. The U.S. Bank Cash+ Visa may be the card for you if you are looking for a simple cash back rewards credit card with flexible opportunities for earning rewards. (See also: The 5 Best Cash Back Credit Cards)

How This Card Works

This card offers 5% cash back on your first $2,000 in combined purchases each quarter in two categories you choose. You can also earn 2% cash back on your everyday category of choice such as restaurants, gas, or groceries, and 1% cash back on your other everyday purchases. You are required to choose your bonus categories for each quarter. Otherwise, those purchases will only earn 1% cash back. There is no limit to the amount of cash back you can earn in the 2% and 1% categories. 

You can claim your cash back at any amount, without any minimum requirements directly into a checking or savings account, or as a statement credit.

Other Benefits

Visa Signature Benefits. This card includes Visa Signature Benefits such as Visa Signature Concierge for 24/7 assistance with reservations and planning, as well as travel benefits that come with complimentary discounts and hotel, cruise line, and resort upgrades. Other benefits include access to movie ticket offers, special dining and wine experiences, and shopping discounts with premium retailers. Card membership also includes warranty manager service, purchase security, travel accident insurance, and many other benefits.

Costs

  • $0 Annual Fee
  • 14.99% - 23.99% Variable APR 
  • 3% Balance Transfer Fee ($5 minimum)
  • 3% Foreign Transaction Fee

Pros

Choose your reward categories. The problem with many cash back credit cards is that the cash back rewards are limited to certain categories, which you may not always find useful. This card allows you to adjust the categories that award 5% and 2%, each quarter, so you always earn the most cash back for your purchases. For example, if you plan on making a large electronics purchase in an upcoming quarter, you can choose the electronics category as one of the 5% cash back categories.

Flexible redemption. There are no limitations to redeeming your cash back. You can choose to have the cash back deposited into a savings or checking account, or you can redeem as a statement credit. There are also no minimum requirements, which is unlike other cash back credit cards that require you a minimum redemption amount.

Cons

Must choose categories every quarter for bonus cash back. In order to earn the bonus cash back in 5% and 2% categories, you have to make sure you choose your categories each quarter. If you forget or you aren't sure of the type of purchases you might make, all purchases only earn 1% cash back, which is the lowest amount of cash back any rewards card offers. 

Cap on 5% category. Depending on your spending, the cap of $2,000 in combined purchases in the 5% category might be limiting. Purchases made after you reach the cap only earn 1% cash back. There may be other cards that offer the bonus rewards in the category you're looking for. (See also: Best Credit Cards with Bonuses for Groceries)

Foreign transaction fee. If you frequently travel abroad or use your card for foreign purchases, the fee is going to cancel out any rewards you earn. (See also: 5 Best Credit Cards with No Foreign Transaction Fee)

Who This Card Is Best For

The U.S. Bank Cash+ Visa is best for those who are diligent in choosing and selecting the bonus categories every three months, along with those who are good at planning their purchases out in advance in order to reap the most rewards. 

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