U.S. Bank Cash+ Review: 5% Cash Back You Can Customize
The Bottom Line
4.5
This card is a good match for rewards optimizers who juggle cards strategically to get the best return for every dollar. Just keep in mind that it requires some work on your part to maximize the card’s rewards rates.
Rates, fees and offers
Rates, fees and offers
Annual fee
$0
Rewards rate
1%-5%
Bonus offer
$200 rewards bonus after spending $1,000 in eligible purchases within the first 90 days of account opening.
Intro APR
0% intro APR for 15 billing cycles on purchases and balance transfers
Ongoing APR
APR: 17.99%-28.24% Variable APR
Cash Advance APR: 30.74%, Variable
Balance transfer fee
Either 3% of the amount of each transfer or $5 minimum, whichever is greater.
Foreign transaction fee
3% of each foreign transaction
More details from U.S. Bank
More details from U.S. Bank
- $200 rewards bonus after spending $1,000 in eligible purchases within the first 90 days of account opening.
- 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose.
- 5% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Travel Center.
- 2% cash back on one everyday category like Gas Stations and EV Charging Stations, or Grocery Stores (excludes discount stores/supercenters and wholesale clubs).
- 1% cash back on all other eligible purchases.
- 0% Intro APR on purchases and balance transfers for the first 15 billing cycles. After that, a variable APR currently 17.99% - 28.24%.
- No Annual Fee
- Terms and conditions apply.
Pros and Cons
Pros
No annual fee
Bonus categories
High rewards rate
Cons
Complicated rewards
Detailed Review
The U.S. Bank Cash+® Visa Signature® Card stands out from competitors in the 5% cash-back space by giving you the freedom to choose the categories where you'll earn that top rate.
For most cards that offer 5% cash back in rotating bonus categories, the issuer determines the categories, which can be hit-or-miss. That makes the U.S. Bank Cash+® Visa Signature® Card a more flexible and potentially more lucrative option, which I've appreciated as a longtime holder of the card. It's been my go-to payment method for my monthly utility bills, a relatively rare bonus category.
Plus, the card features other important differences: It lets you select two 5% cash-back categories each quarter from a list of 12 (see the list below), and it features a higher combined quarterly spending cap than the competition. On top of that, you'll choose a 2% cash-back category every quarter from a list of three, and there's no spending cap on that category. Finally, you get 5% back on certain travel bookings through U.S. Bank.
To be sure, it's not the simplest rewards structure. You'll have to put in some work in terms of category tracking and activation. But if you value choice and high rewards-earning potential on everyday spending like I do, it can be an ideal pick.
» MORE: Best 5% cash back credit cards
The U.S. Bank Cash+® Visa Signature® Card has a lesser-known close cousin — the Visa Max Cash Preferred — which features the same annual fee and an extremely similar rewards structure. That version of the card is issued by Elan Financial Services, a division of U.S. Bank, and is offered by a variety of smaller banks around the country. As such, it doesn't carry the U.S. Bank name or logo.
U.S. Bank Cash+® Visa Signature® Card: Basics
Card type: Cash back.
Annual fee: $0.
Sign-up bonus: $200 rewards bonus after spending $1,000 in eligible purchases within the first 90 days of account opening.
Rewards:
5% cash back on the first $2,000 in combined eligible net purchases each quarter in two categories you choose, from a list of 12. (See list below.)
2% cash back in one "everyday" category including grocery stores, gas and EV charging stations or restaurants.
5% cash back on prepaid air, hotel and car reservations booked directly in U.S. Bank's Rewards Center.
1% cash back on all other eligible net purchases.
You must opt in to the 5% and 2% bonus categories each quarter to earn the higher rewards rates; otherwise, you'll earn only 1% back on all purchases.
Full list of 5% categories on the U.S. Bank Cash+
Fast food.
Home utilities.
TV, internet and streaming.
Department stores.
Cell phone providers.
Electronics stores.
Sporting goods stores.
Movie theaters.
Gyms/fitness centers.
Furniture stores.
Ground transportation.
Select clothing stores.
Rewards can be redeemed for statement credit, a U.S. Bank Rewards gift card or a deposit into an eligible bank account with U.S. Bank.
Interest rate: 0% intro APR for 15 billing cycles on purchases and balance transfers, and then the ongoing APR of 17.99%-28.24% Variable APR.
Balance transfer fee: 3% of the amount of each transfer or $5, whichever is greater.
Foreign transaction fee: 3%.
Compare to Other Cards
Benefits and Perks
5% rewards categories you can customize
With the U.S. Bank Cash+® Visa Signature® Card, you can select bonus categories based on your spending. You can also repeat the same bonus categories each quarter, as long as they're still available as choices for that quarter.
The Cash+ card’s bonus categories tend to stray from the beaten path compared with its competitors. For example, among your choices for the 5% bonus rate are categories like gyms and home utilities, which you just don't see very often. The latter category sold me on applying for the U.S. Bank Cash+® Visa Signature® Card. I was already earning bonus rewards in common spending categories such as groceries and gas, but I didn’t yet have a card that offered big returns on utilities. The Cash+ filled that void. If you’re like me and spend a decent amount of money on water and power every month, you can get a healthy chunk of cash back by paying those utility bills with the Cash+.
And remember that the U.S. Bank Cash+® Visa Signature® Card lets you pick two 5% cash-back categories each quarter. Aside from utilities, my second choice often varies depending on my spending habits. That level of customization is rare among cash-back cards.
Generous spending cap for 5% rewards
With other 5% rotating category cards, there's a quarterly spending cap of $1,500 for bonus categories, meaning your bonus earnings top out at $75 in a three-month period (not including the 1% back you'd get on "all other spending”). But the U.S. Bank Cash+® Visa Signature® Card has a higher ceiling on spending eligible for 5% rewards. Cash+ cardholders earn 5% cash back on the first $2,000 in eligible purchases each quarter on combined spending across the two bonus categories. That's an extra $400 in bonus rewards per year, assuming you hit the spending cap each quarter.
Extra bonus rewards categories
The U.S. Bank Cash+® Visa Signature® Card lets you select an additional category in which you get unlimited 2% cash back from a list of three: groceries and grocery delivery; restaurants; and gas and EV stations. A 2% rate is nothing to sniff at, especially considering that those categories represent high spending areas for many households — mine included.
The U.S. Bank Cash+® Visa Signature® Card also earns 5% cash back on prepaid air, hotel and car booking made through the issuer's Rewards Center. That's not necessarily a big spending category for me, but you don't have to opt in to be eligible for that particular 5% rate, so it's a nice option to have.
How it compares with other 5% cash-back cards
If you’re thinking about getting the U.S. Bank Cash+® Visa Signature® Card, you may want to compare it to the biggest players in the quarterly categories game: the Discover it® Cash Back and the Chase Freedom Flex®. Both of those cards pay 5% cash back in rotating categories that you must activate, on up to $1,500 a quarter in spending, and 1% cash back on other purchases.
Those cards also offer elevated rewards in rotating bonus categories, but the U.S. Bank Cash+® Visa Signature® Card differs in key ways:
Its 5% categories are customizable, and you can pick two of them each quarter.
The combined quarterly spending cap for 5% rewards is $2,000, as opposed to $1,500.
You also get an unlimited 2% back in one everyday category.
But this doesn't mean the U.S. Bank Cash+® Visa Signature® Card is the clear winner for all spenders. The Discover it® Cash Back and the Chase Freedom Flex® have plenty going for them, too.
Here’s how all three stack up:
| Empty Table Header | U.S. Bank Cash+® Visa Signature® Card | Discover it® Cash Back | Chase Freedom Flex® |
|---|---|---|---|
Annual fee | $0. | $0. | $0. |
Bonus offer | $200 rewards bonus after spending $1,000 in eligible purchases within the first 90 days of account opening. | INTRO OFFER: Unlimited Cashback Match for all new cardmembers. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300. | Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. |
Intro APR offer | 0% intro APR for 15 billing cycles on purchases and balance transfers, and then the ongoing APR of 17.99%-28.24% Variable APR. | 0% intro APR for 15 months on purchases and balance transfers, and then the ongoing APR of 17.74%-26.74% Variable APR. | 0% intro APR on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 18.49%-27.99% Variable APR. |
Is it easy to plan spending around bonus categories? | Yes. Categories are displayed on the website all year. | Not recently. Discover used to release the full 5% calendar at the start of the year. In 2023, the issuer started announcing categories one quarter at a time. | No. Categories are only announced quarterly. |
Activation requirements |
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Drawbacks and Considerations
The rewards system is complex and requires maintenance
The bonus categories on the U.S. Bank Cash+® Visa Signature® Card are less of a mystery compared with, say, those of the Chase Freedom Flex®, which doesn't announce its categories until a new quarter is near. But you still have to keep track of categories and remember to opt in each quarter, and the additional 2% categories make the card more complicated than its direct competitors. (If the value proposition of the Cash+ appeals to you, but you’re worried that you won’t remember to activate your bonus categories every quarter, note that U.S. Bank reminds you to do so, which has helped alleviate some of my mental load.)
One other consideration: In recent years, the Chase and Discover cards have frequently offered elevated rewards at restaurants, gas stations and grocery stores — "everyday" categories that the U.S. Bank card limits to 2% cash back.
It's an expensive travel companion
As a Visa, the U.S. Bank Cash+® Visa Signature® Card has broad merchant acceptance overseas, but its foreign transaction fee could strain your travel budget. If you frequently travel internationally, you’ll probably want to pack another card that doesn’t charge foreign transaction fees.
You must bank with the issuer for cash redemptions
You can redeem your rewards for straight-up cash as opposed to a statement credit, but only if you have a U.S. Bank account. Credit cards like the Discover it® Cash Back and the Chase Freedom Flex® let you redeem your rewards for deposits into eligible bank accounts at other institutions.
How To Decide If It's Right For You
Getting to choose your own bonus categories gives you an advantage, and if maximizing rewards is a top priority, the U.S. Bank Cash+® Visa Signature® Card is a good fit for your style. But if you prefer simplicity, a flat-rate cash-back card is probably a better option.
No categories to mess with
If you'd prefer a card with a solid rewards rate on everything, rather than an array of categories to keep track of, this is a great choice. You get 2% cash back on every purchase: 1% when you buy it and 1% when you pay it off.
Looking For Something Else?
Methodology
NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.
Frequently asked questions
What are the rewards on the U.S. Bank Cash+ card?
What are the rewards on the U.S. Bank Cash+ card?
The U.S. Bank Cash+® Visa Signature® Card, earns 5% cash back on the first $2,000 in combined eligible net purchases each quarter in two categories you select yourself. The categories can change each quarter, but in the last quarter of 2020, they included select clothing stores, electronics stores, sporting goods stores, gyms and fitness centers, furniture stores, home utilities, cell phone providers, ground transportation, department stores, fast food, movie theaters and TV, internet and streaming services. In addition, you earn 2% cash back in one "everyday" category (groceries, gas or restaurants) that you also choose. All other purchases earn 1% cash back.
How do I choose my U.S. Bank Cash+ bonus categories?
How do I choose my U.S. Bank Cash+ bonus categories?
Log into your account online and opt into the 5% and 2% bonus categories you want. Or you can call the number on the back of your card. You can choose your categories for a quarter as early as 45 days before the quarter begins, up until five days left in the quarter. You'll earn bonus rewards only on purchases you make after you opt in. If you don’t make any selections, then you earn 1% back on all purchases.
How do I redeem rewards with the U.S. Bank Cash+ card?
How do I redeem rewards with the U.S. Bank Cash+ card?
You can redeem rewards as a statement credit, a U.S. Bank Rewards gift card or a deposit into an eligible account with U.S. Bank.
Is it hard to redeem U.S. Bank Cash+ rewards for actual cash?
Is it hard to redeem U.S. Bank Cash+ rewards for actual cash?
To get your rewards as cash, you must have a bank account with U.S. Bank. Otherwise, you can redeem as a credit on your statement, which effectively leaves more cash in your pocket. Many other credit card issuers allow you to take your rewards as a deposit into any bank account, regardless of where it is.
Do rewards from the U.S. Bank Cash+ card expire?
Do rewards from the U.S. Bank Cash+ card expire?
If they are not used, rewards expire 36 months after they are earned. If the account is closed, you forfeit any unused rewards.
About the authors
Jae Bratton
Lead Writer & Content StrategistMelissa Lambarena
Senior Writer & Content Strategist
