U.S. Bank Cash+™ Visa Signature® Card: Freedom and Flexibility
If you love living life on your own terms, the U.S. Bank Cash+™ Visa Signature® Card may be the card for you. Instead of choosing bonus categories for you, this card lets you pick your own. To boot, it offers a high ongoing rewards rate and considerable long-term value.
5% as a starting point
The U.S. Bank Cash+™ Visa Signature® Card offers 5% cash back on bonus categories that change every quarter up to $2,000 in net purchases spent per quarter, or $8,000 a year. You can choose two 5% categories from a list that may include gym costs, cell phone bills, movie theaters, fast food and car rentals. On top of that, you’ll also get an unlimited 2% rewards on one everyday purchase category, where you may be able to choose from categories such as gas, groceries or restaurants.
And it gets better. The first time you redeem more than $100 worth of rewards at once, U.S. Bank will throw in an extra $25. This means that if you’ve saved up 10,000 bonus points (normally worth $100 cash back) you can redeem it for $125.
Best of all, the rewards are unlimited, and the annual fee is $0, which gives this card an even better long-term value.
U.S. Bank Cash+™ Visa Signature® Card vs. Chase Freedom®: 5 on 5
If you’re thinking about getting the U.S. Bank Cash+™ Visa Signature® Card, you’ve probably also considered another reigning 5% champion, the Chase Freedom®. The Chase Freedom® gives 5% back on bonus categories, but those categories are preset by Chase, and capped at $1,500 in purchases a quarter, or $6,000 a year.
The U.S. Bank Cash+™ Visa Signature® Card has higher ongoing rewards than the Chase Freedom®, but lacks the head start of a bonus. The Chase Freedom®, meanwhile, comes with an easy-to-get offer: Earn a $100 Bonus after you spend $500 on purchases in your first 3 months from account opening.
Moral of the story? Get the U.S. Bank Cash+™ Visa Signature® Card if:
- You want to choose your own rewards categories
- You plan to hold the card for more than 2 years
Get the Chase Freedom® if:
- The bonus categories dovetail with your spending
- You plan to hold the card for 2 years or fewer
It comes down to sign-up bonus versus ongoing rewards, here’s something to keep in mind: The Chase Freedom® delivers a lot of value quickly, while the U.S. Bank Cash+™ Visa Signature® Card has less short-term value but more staying power.
|Chase Freedom®||U.S. Bank Cash+™ Visa Signature® Card|
on US Bank's
|Earn a $100 Bonus after you spend $500 on purchases in your first 3 months from account opening||Earn a new cardmember bonus of $100 after you spend $500 in net purchases on your card within the first 90 days of account opening*.|
|0% for 15 Months on purchases and 0% Intro APR for 15 months on balance transfers, and then the ongoing APR of 13.99%-22.99% (Variable)||0% for 9 months on balance transfers, and then the ongoing APR of 12.99% - 23.99% Variable|
Image via iStock.