The U.S Bank Cash Plus Visa Card provides a unique opportunity to earn generous rewards optimized for your spending profile. With no annual fee and the ability to select customized 5% cash back categories each quarter, this card can become a go-to option in your wallet.
In this article, we will cover the card’s top benefits beyond rewards, some costs to consider, and tips for maximizing value from the U.S Bank Cash Plus Visa Card. Read on to see if this versatile cash-back card deserves a place in your wallet.
How the 5% Category Rewards Work
This is an overview of how choosing bonus categories works with the U.S. Bank Cash+ Visa:
- Choose 2 Categories Each Quarter – Every three months, you can select two 5% cash back categories from a list of options provided by U.S. Bank.
- $2,000 Per Quarter Cap – You’ll earn 5% cash back on up to $2,000 in combined eligible purchases across both categories each quarter. Beyond that, you earn 1% back.
- Popular Category Options – Some options include gas stations, dining, fast food, drug stores, home utilities, select streaming services, and more.
- Grocery Category – One of your options is “grocery stores” which includes supermarket, warehouse clubs, specialty food shops. This has no quarterly cap.
- Change Categories Anytime – You don’t have to wait for the quarter to end. You can change your choices anytime through online banking.
Optimizing your category selections for upcoming big purchases and expenses is key to maximizing rewards.
Top Benefits Beyond Rewards
In addition to the unique category bonuses, the U.S Bank Cash Plus Visa Card provides these great benefits:
- Introductory 0% APR – Qualified new cardmembers enjoy 0% APR on purchases and balance transfers for the first 12 billing cycles.
- Cell phone protection – Get up to $600 per claim if your cell is damaged or stolen when paying your monthly bill with the card. $25 deductible applies.
- Emergency cash access – Cardholders can access emergency cash at U.S. Bank ATMs without using your PIN.
- Visa Signature Perks – Enjoy complimentary perks like wine tastings, access to live entertainment events, and special discounts.
- Visa Concierge Service – Get help booking travel, finding tickets to top events, gift recommendations, and restaurant reservations.
- Roadside Dispatch – Provides 24/7 roadside assistance service to help with things like towing, lockouts, jumpstarts, and fuel delivery.
- Extended warranty protection – Extends eligible U.S. manufacturer warranties on purchases by one year.
- No foreign transaction fees – Make purchases internationally without getting hit with foreign transaction fees.
For a no annual fee cash back card, the U.S. Bank Cash+ Visa provides robust additional benefits that enhance its everyday use cases.
Costs and Fees to Know About
While there is no annual fee, the U.S. Bank Cash+ Visa does have some costs to consider:
- 15.99% – 25.24% Variable APR – After the intro 0% APR expires, a competitive variable rate applies based on your creditworthiness. This applies to purchases and balance transfers.
- Balance Transfer Fee – For new cardholders, the intro 0% APR also applies to balance transfers made in the first 60 days. After that, there is a 3% balance transfer fee (minimum $5).
- Cash Advance Fee – Cash advances from ATMs and banks carries a 5% fee (minimum $10). Plus, no grace period for cash advances.
- Late Payment Fee – Paying after the due date incurs a $39 late fee.
- Returned Payment Fee – You’ll be charged $39 for any bounced payment.
As long as you pay on time and avoid cash advances, the U.S. Bank Cash+ Visa card features no annual fee and doesn’t cost much to use.
Tips to Qualify for Approval
The U.S Bank Cash Plus Visa Card aims for a middle ground in terms of eligibility requirements. You’ll need:
- Good to Excellent Credit – Approved applicants tend to have FICO scores of 690 or higher. No credit or bad credit scores may still be considered.
- Low Utilization – Having credit card balances under 30% of limits helps demonstrate responsible usage.
- Some Credit History – While not requiring decades of history, at least 1 year of established accounts is recommended for approval.
- ** Solid Income** – A stable source of income with $15,000+ in annual earnings improves approval chances.
- No Recent Bankruptcies – Any recent bankruptcy or foreclosure will make approval challenging. Allow at least 1-2 years from discharge/completion.
Meeting these criteria provides a good chance for approval. Pre-qualification is also available without impacting your credit score.
How to Apply in Just Minutes
Applying for the U.S Bank Cash Plus Visa Card takes just minutes:
- Go to the U.S. Bank website and click “Credit Cards”.
- Click “Apply” on the U.S Bank Cash Plus Visa Card.
- Provide personal information like name, address, date of birth, and Social Security Number.
- Enter your employment details and income source.
- Review terms and conditions, then agree to submit the application.
- Input any supporting documents if requested.
- Get an instant decision and know if you are approved within minutes.
Once approved, you can immediately start optimizing category bonuses every quarter. Register your account online or via mobile app for easy management.
Tips to Maximize the Value Offered
Follow these tips and strategies when using the Cash+ Visa card to maximize benefits:
- Use the 5% categories heavily in the months they are active, timing large purchases accordingly.
- Change categories promptly as your spending needs evolve throughout the year.
- Use for business in bonus categories to earn effectively on purchases you’re already making.
- Use contactless tap payments for speed and convenience earning rewards.
- Setup text/email alerts to monitor transactions and catch any unauthorized activity.
- Use card responsibly through on-time payments and avoiding maxing it out to prevent fees and interest charges.
- Pair with other reward cards – use the Cash+ Visa for its 5% categories and other cards for their specialty bonus categories.
- Use for groceries year-round to earn unlimited 2% back at supermarkets.
Stack Rewards with the U.S. Bank Altitude Cards
Current U.S. Bank credit cardholders have another great way to maximize rewards. You can stack perks across the Cash+ Visa card and premium U.S. Bank Altitude cards.
For example, the U.S. Bank Altitude Connect Visa combines:
- 4 points per $1 on travel, gas, EV charging, streaming
- 2 points per $1 on groceries, dining, and eligible delivery
- 1 point per $1 everywhere else
Pair it with the category bonuses on the Cash+ Visa and you can accelerate point earnings in key spending areas. Check your eligibility for an Altitude card too and maximize rewards.
Which Card Earns More: Cash+ Visa vs. Competitors
How does the U.S. Bank Cash+ Visa compare against other category cash back cards? Here is a brief analysis:
Citi Custom Cash Card
- 5% cash back in top eligible spend category each month, up to $500 in purchases
- More flexibility with 1 customizable category instead of fixed options
- But max $500 in purchases versus $2,000 per quarter with Cash+ Visa
Chase Freedom Flex
- 5% cash back in rotating quarterly categories activated (same categories as Cash+ Visa)
- Additional 5% back on travel booked through Chase
- But no choice in categories – you get whatever bonus Chase sets each quarter
Bank of America Customized Cash Rewards
- 3% cash back in one customizable category
- 2% back at grocery stores (no cap at supermarkets unlike Cash+ Visa)
- 1% cash back on other purchases
- Not as high of bonus category rewards as Cash+ Visa
The U.S. Bank Cash+ Visa strikes an excellent balance with its dual 5% category selections each quarter and solid everyday unlimited 2% cash back on grocery store spending.
Conclusion
The U.S. Bank Cash+ Visa credit card provides a rewarding way to get 5% cash back in the categories where you spend most with no annual fee commitment. Between the quarterly category bonuses, ongoing grocery rewards.
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