U.S. Bank Cash+ Review: Choose your own 5% cash back categories

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Tired of credit cards dictating how you earn rewards? The U.S. Bank Cash+® Visa Signature® Card puts you in the driver's seat, allowing you to choose your own 5% cash back categories each quarter. 

With no annual fee and a competitive sign-up bonus, the card offers excellent value for those who can maximize its bonus categories. You’ll also find other perks like an introductory APR offer, a solid welcome bonus, and Visa Signature perks. 

While the card offers impressive rewards rates, the quarterly activation and spending caps may limit its appeal for some.

U.S. Bank Cash+ credit card overview

The U.S. Bank Cash+ offers a unique approach to cash back rewards, allowing cardholders to choose their bonus categories. Here are the key things to know about this card:

• Rewards: 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose from a list of 12 options, 5% cash back on prepaid air, hotel, and car reservations booked directly through the Rewards Center, 2% cash back on one everyday category of your choice (gas stations, grocery stores, or restaurants), and 1% cash back on all other purchases. 
• Welcome bonus: $250 rewards bonus after spending $1,000 in eligible purchases within the first 90 days of account opening.
• Annual fee: $0 
• Introductory APR offer: 0% APR on purchases and balance transfers for the first 15 billing cycles, followed by a variable APR of 19.49%-29.74%. 
• Redemption options: You can redeem cash back as a statement credit, direct deposit into your U.S. Bank Savings, Checking, or Money Market Account, onto a prepaid U.S. Bank Visa Rewards Card, or as a Real-Time Reward. 
• Additional benefits: Visa Signature Luxury Hotel Collection perks, 24/7 Visa Signature Concierge service, Visa Signature benefits at select wineries, golf courses, and car rental agencies, and select travel protections, including roadside dispatch and travel and emergency assistance. 

U.S. Bank Cash+ credit card rewards

The U.S. Bank Cash+ is a unique 5% cash back card that sets itself apart from competitors by allowing cardholders to choose their own bonus categories. 

This level of customization allows you to tailor your rewards to your spending habits, potentially earning more cash back on the purchases you make most frequently.

Earning rewards 

The U.S. Bank Cash+ card offers a tiered rewards structure:

• 5% cash back on purchases in two categories of your choice (up to $2,000 in combined purchases per quarter, then 1%)
• 5% cash back on prepaid air, hotel, and car reservations booked directly through the Rewards Center
• 2% cash back on one everyday category of your choice (gas stations, grocery stores, or restaurants)
• 1% cash back on all other eligible purchases

You must activate your chosen bonus categories each quarter to earn higher cash back rates. If you fail to do so, you'll only earn 1% cash back on those purchases.

The 5% cash back categories may include:

• Fast food
• Home utilities
• TV, Internet, and streaming services
• Department stores
• Cell phone providers
• Electronic stores
• Sporting goods stores
• Gyms and fitness centers
• Ground transportation
• Movie theaters
• Furniture stores
• Select clothing stores

These categories are subject to change but generally include common consumer spending areas. It's important to note that the 5% cash back is limited to the first $2,000 in combined purchases per quarter across your two chosen categories. After reaching this cap, you'll earn 1% cash back on those purchases for the remainder of the quarter.

In addition to the 5% categories, you can select one everyday spending category to earn 2% cash back with no spending cap. Options include:

• Grocery stores 
• Restaurants
• Gas and EV charging stations

The card has a fairly complex reward structure. It requires activation and category tracking to ensure you maximize your earning potential. Plus, the card's base rate of 1% cash back is also lower than some cash back cards.

Redeeming rewards 

The U.S. Bank Cash+ card offers several options for redeeming your cash back:

• Statement credit: Apply your cash back directly to your account balance.
• Deposit to a U.S. Bank account: Transfer your cash back to your U.S. Bank checking, savings, or money market account.
• U.S. Bank Visa Rewards Card: Redeem your cash back for a prepaid Visa card, with a $25 minimum.
• Real-Time Rewards: Enroll in this program to receive text messages after purchasing in pre-selected categories, allowing you to redeem cash back for statement credits. Real-Time Rewards have a minimum purchase of $150 for car rentals and lodging and $10 for all other eligible categories.

Statement credits and bank deposits have no minimum redemption requirements and can be redeemed anytime. One drawback of the U.S. Bank Cash+ is that rewards expire 36 months after they're earned, so be sure to redeem your rewards regularly to avoid losing them.

U.S. Bank Cash+ credit card benefits

The U.S. Bank Cash+ Visa Signature Card also offers a range of benefits that can provide added value. 

Sign-up bonus

Like many cash back credit cards, the U.S. Bank Cash+ Card offers a sign-up bonus to new cardholders. By spending $1,000 on eligible purchases within the first 90 days of account opening, you can earn a $250 bonus.

This welcome bonus is on par with similar cash back cards. However, some cards, including the Wells Fargo Active Cash® Card, Chase Freedom Unlimited®, and Chase Freedom Flex®, offer a similar bonus for a lower spending requirement.

Introductory APR offer

The U.S. Bank Cash+ offers a 0% introductory APR on purchases and balance transfers for the first 15 billing cycles. This can be valuable if you must finance a large purchase or pay off existing high-interest debt.

For example, if you have a $3,000 balance on a credit card with a 20% APR and you transfer that balance to your U.S. Bank Cash+ Card, you could save almost $500 in interest charges over the 15-month introductory period. 

If you're considering a balance transfer, be sure to factor in the card's balance transfer fee, which is 3% of the transfer amount or $5, whichever is greater. After the introductory period ends, a variable APR of 19.49%-29.74% will apply, based on your creditworthiness. To avoid paying interest charges, aim to pay off your balance in full before the promotional period ends. 

Additional perks

As a Visa Signature card, the U.S. Bank Cash+ offers a range of additional perks to enhance your travel experiences and provide added security and convenience. Some of the key benefits include:

• Visa Signature Luxury Hotel Collection: Enjoy exclusive discounts, upgrades, and perks at over 900 luxury hotels worldwide. 
• Visa Signature Concierge: Get 24/7 assistance with travel planning, restaurant reservations, gift shopping, and more. 
• Food & Wine Benefits: Receive special offers and discounts at over 50 wineries in California's Sonoma County. 
• Visa Signature Golf Benefit by Troon: Enroll in Troon Rewards to receive discounts on golf fees and merchandise at participating courses worldwide.
• Visa Signature Car Rental Privileges: Enjoy discounts, upgrades, and waived fees when renting from Avis or Budget.
• Partner perks: Get three months of complimentary Shipt membership (a grocery delivery service) followed by nine months at 50% off, with free delivery on orders over $35. Additionally, access exclusive concert presales and free tickets through Sofar Sounds.
• Travel protections: This includes roadside dispatch, travel and emergency assistance, emergency card replacement, and lost/stolen card reporting.

U.S. Bank Cash+ credit card fees & charges

When considering a new card, it's crucial to look beyond the rewards and understand the charges associated with it. The U.S. Bank Cash+ has several fees that potential cardholders should know before applying. 

Annual fee

One of the key benefits of the U.S. Bank Cash+ Card is its $0 annual fee. This means you can earn cash back rewards without worrying about an annual cost offsetting your earnings. 

Many popular cash back cards, such as the Chase Freedom Flex® and the Citi Custom Cash℠ Card, also have no annual fee.

Interest rates

The U.S. Cash+ offers a 0% introductory APR on purchases and balance transfers for the first 15 billing cycles. After that, a variable APR range of 19.49%- 29.74% applies, based on your creditworthiness.

Paying your balance in full each month is essential to avoid interest charges. If you carry a balance, the high interest rates could quickly negate the value of any rewards you earn.

Cash advances on the U.S. Bank Cash+ come with a steep 29.99% variable APR, which starts accruing immediately from the date of the transaction. Avoid taking cash advances unless necessary, as the high interest charges can add up.

Other fees

In addition to interest charges, the U.S. Bank Cash+ Card has several other fees to be aware of:

• Balance transfer fee: 3% of the transfer amount or $5, whichever is greater. 
• Cash advance fee: 5% of the advance amount or $10, whichever is greater. 
• Late payment fee: Up to $41. 
• Returned payment fee: Up to $41. This fee is charged if your payment is returned due to insufficient funds or other issues. 
• Foreign transaction fee: 3%. This fee is charged on purchases made outside the United States. 

The U.S. Bank Cash+ Card's fees are generally in line with those of other cash back cards. However, the 3% foreign transaction fee is a notable drawback, especially for travelers. 

How the U.S. Bank Cash+ credit card compares 

If you want to maximize cash back on purchases, the U.S. Bank Cash+ could be a worthy choice. But it may depend on your spending habits.

Here are other cash back credit cards to consider — all come with comparable introductory APR offers and no annual fee.

U.S. Bank Cash+ vs. Chase Freedom Flex®

The Chase Freedom Flex offers 5% cash back on rotating quarterly categories (up to $1,500 in combined purchases per quarter) and 1% on all other purchases. However, the Freedom Flex also offers additional bonus categories:

• 5% cash back on travel booked through Chase Travel℠
• 3% cash back on dining 
• 3% cash back on drugstore purchases

This makes the Freedom Flex a more versatile option for those who spend heavily in these categories. For example, if you spend $500 monthly on dining and drugstore purchases, you'd earn $180 in cash back annually with the Freedom Flex. This is compared to just $120 with the U.S. Bank Cash+ (assuming you select either category for 2% cash back).

U.S. Bank Cash+ vs. Citi Custom Cash® Card

The Citi Custom Cash Card takes a different approach to bonus categories. Instead of rotating categories, it automatically earns 5% cash back on your top eligible spend category each billing cycle (on up to $500 in purchases, then 1% cash back). Eligible categories include restaurants, gas stations, grocery stores, and more. 

This structure can be beneficial for those who spend in one specific category each month. For example, if you spend $500 monthly on groceries, you'd earn $300 in cash back annually with the Citi Custom Cash. This is compared to $240 with the U.S. Bank Cash+ (assuming you select grocery stores for 2% cash back).

Who should consider the U.S. Bank Cash+ credit card?

The U.S. Bank Cash+ is an excellent choice for those who want to maximize their cash back earnings by customizing their reward categories. This card is particularly well-suited for those with significant monthly expenses in the card's 5% and 2% bonus categories.

This card can also be an excellent companion to other rewards credit cards. Pairing it with a flat-rate card that earns more than 1% cash back on everyday purchases can optimize your overall cash back. 

It’s important to note that the U.S. Bank Cash+ Card's $2,000 quarterly spending limit on 5% categories may be restrictive for high spenders. You might miss out on potential rewards if you spend more than this amount in your chosen 5% categories.

The U.S. Bank Cash+ Card also requires hands-on management, such as tracking spending and activating bonus categories each quarter. If you prefer a more straightforward rewards program, a flat-rate cash back card like the Citi® Double Cash Card (2% cash back on all purchases — 1% when you buy and 1% when you pay your bill) or the Wells Fargo Active Cash® Card (2% cash back on purchases) might be a better choice.

How to maximize rewards with the U.S. Bank Cash+ card 

Here are some strategies to make sure you’re getting the most out of your card:

• Analyze your spending habits: Review your past credit card statements or budget to identify the categories where you spend the most each quarter. This will help you choose the 5% and 2% categories that align with your spending patterns.
• Set reminders to activate bonus categories: To ensure you don't miss out on the higher cash back rates, set a quarterly reminder to log in to your account and choose your 5% and 2% categories.
• Plan your purchases: If you have a large purchase coming up, consider timing it to coincide with a quarter where the relevant category is eligible for 5% cash back. For example, if you plan to buy a new TV, wait until a quarter when electronic stores are a 5% category.
• Pair with another card: Since the U.S. Bank Cash+ card only earns 1% cash back on non-bonus purchases, consider pairing it with a flat-rate cash back card that earns a higher rate on all purchases. For example, the Citi® Double Cash Card earns 2% cash back on all purchases (1% when you buy, plus 1% when you pay your bill).

How we rated this card

Every credit card review we publish has undergone a rigorous editorial process to ensure accuracy and objectivity.

We rate all credit cards on a 10-point system, with 10 being the highest possible score and 1 being the lowest possible score. We assess each card across several key factors, weighted based on what our research shows matters most to readers like you. Learn more about our methodology here. 

The bottom line

The U.S. Bank Cash+ is a standout choice for those looking to maximize their cash back earnings through customizable bonus categories. This card offers a competitive intro APR offer and Visa Signature benefits, adding even more value for cardholders who can take advantage of these features.

However, it's essential to consider your spending when deciding if the U.S. Bank Cash+ Card is right for you. If your expenses don't align well with the card's bonus categories or if you prefer a more low-maintenance rewards program, another cash back card may be a better fit.

Editorial disclosure: Opinions expressed are author's alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included in the post.