Are you looking for a credit card that puts you in control of your cash back rewards? The U.S. Bank Cash+® Visa Signature® Card might be the perfect choice. This card stands out by offering an impressive rewards structure, allowing you to earn bonus cash back in categories that truly matter to you. Let’s dive into the details of how you can make the most of the Us Bank Cash Plus card and its benefits.
Unlocking 5% Cash Back in Your Chosen Categories
The cornerstone of the us bank cash plus card is its exceptional 5% cash back offer. Unlike many rewards cards with fixed categories, this card lets you select two categories each quarter where you’ll earn a high 5% cash back on up to $2,000 in combined purchases per quarter. This customization is a significant advantage, allowing you to align your rewards with your spending habits.
What kind of categories can you choose? While the specific options can vary and it’s important to check the current choices when you apply and each quarter, common examples often include:
- Home Utilities: Perfect for covering essential bills like electricity, gas, and water.
- TV, Internet & Streaming Services: Ideal for the modern household entertainment and connectivity expenses.
- Cell Phone Providers: Another recurring bill that can add up, making this a valuable category.
- Fast Food & Restaurants: Great for dining out or grabbing quick meals.
- Department Stores: Useful for clothing, home goods, and a variety of other purchases.
- Select Transportation Categories: Including ground transportation or public transit for commuters.
By strategically selecting your 5% categories each quarter, you can significantly boost your cash back earnings on everyday spending. Remember to enroll in your chosen categories each quarter to activate the bonus rewards; otherwise, all purchases will only earn the base 1% cash back.
Earning 2% and 1% Cash Back
Beyond the bonus categories, the us bank cash plus card continues to reward your spending. You’ll also get to choose one everyday category to earn 2% cash back on all purchases. Common 2% categories often include:
- Grocery Stores: Essential for most households, making this a consistently valuable 2% category.
- Gas Stations: Another frequent expense for many drivers.
- Restaurants: If your dining spending exceeds the potential of the 5% category, the 2% category offers broader rewards.
For all other purchases that don’t fall into your 5% or 2% categories, you’ll still earn a solid 1% cash back. This tiered system ensures that you’re earning rewards on every purchase you make with your us bank cash plus card.
Sign-Up Bonus and Introductory APR
To sweeten the deal, the us bank cash plus card often comes with a sign-up bonus for new cardholders. Historically, this has included a cash back bonus after spending a certain amount within the first few months of account opening. For example, you might find offers like a $200 cash back bonus after spending $1,000 in eligible purchases within the first 90 days. These offers can change, so it’s always best to check the current sign-up bonus when considering the card.
Furthermore, the us bank cash plus card frequently offers an introductory APR period on purchases and balance transfers. This can be a valuable feature if you plan to make a large purchase and pay it off over time or if you want to consolidate high-interest debt from other credit cards. Typically, the introductory APR is 0% for a set period, such as 15 billing cycles, on both purchases and qualifying balance transfers made within a specific timeframe after account opening. After the introductory period ends, a variable APR will apply based on your creditworthiness.
Important Fees and APRs to Consider
While the rewards are attractive, it’s crucial to be aware of the fees and APRs associated with the us bank cash plus card. After the introductory APR period, the ongoing APR for purchases and balance transfers will vary depending on the market prime rate and your creditworthiness. It’s essential to pay your balance in full each month to avoid incurring interest charges.
Other fees to be mindful of include:
- Cash Advance Fee: A percentage of the cash advance amount, with a minimum fee.
- Balance Transfer Fee: A percentage of the balance transfer amount, with a minimum fee.
- Foreign Transaction Fee: A percentage of each transaction made in a foreign currency.
The us bank cash plus card has no annual fee, which adds to its overall value, especially for long-term cardholders.
Redeeming Your Cash Back Rewards
Redeeming your cash back earnings with the us bank cash plus card is straightforward. You can typically redeem your rewards in several ways, including:
- Statement Credit: Apply your cash back directly to your credit card statement, reducing your balance.
- Deposit into a U.S. Bank Account: Transfer your cash back to your U.S. Bank checking, savings, or money market account.
- U.S. Bank Rewards Card: Redeem for a U.S. Bank Rewards Card (redemption value may vary).
The most valuable redemption option is often as a statement credit or deposit into a U.S. Bank account. Redemption values may differ for other options, and minimum redemption amounts may apply.
Is the U.S. Bank Cash+® Visa Signature® Card Right for You?
The us bank cash plus card is a strong contender for anyone seeking a customizable cash back rewards credit card. Its ability to earn 5% cash back in chosen categories, combined with 2% and 1% rewards on other spending, offers significant earning potential. The sign-up bonus and introductory APR can provide additional value for new cardholders.
However, to maximize the benefits, you need to be proactive in selecting your bonus categories each quarter and ensure your spending aligns with those categories. If you prefer a simpler, fixed-rate rewards structure, other cards might be a better fit.
Overall, if you’re comfortable managing rotating bonus categories and want to optimize your cash back earnings, the us bank cash plus card is definitely worth considering. Remember to review the current terms and conditions, including the available bonus categories and any sign-up offers, on the U.S. Bank website to make an informed decision.
