U.S. Bank Cash+® Visa® Secured Card review

In most wallets, the U.S. Bank Cash Visa Signature® Card* is unlikely to be the best primary credit card. It has a convoluted earning strategy that will take time to master, and while it does give up to 5X Reward Rate in some categories, the category possibilities are unlikely to appeal to the majority of individuals. The U.S. Bank Cash+ Card, on the other hand, may be beneficial to people wishing to add a card to their wallet and are ready to put in some effort.

Major Highlights-

• Each quarter, earn 5% cash back on your first $2,000 in combined qualified purchases in two areas of your choice (1 percent thereafter)
• Earn 2% cash back on one of your favourite everyday purchases, such as petrol stations, grocery stores, or restaurants.
• On all other qualified purchases, you'll get 1% cash back.
• After you apply online and spend $1,000 on eligible purchases within the first 120 days of account activation, you'll get a $200 rewards bonus. You'll also get a 0% intro APR on balance transfers for the first 18 billing cycles.
• There is no annual charge.

Advantages –

• High Cash Back Rate on Select Categories: With this card, you'll get strong 5% cash back on up to $2,000 spent each quarter in two categories of your choice—though you'll be limited to a list provided by US Bank. You'll also get a limitless 2% back on any everyday spending category you choose from a list of choices. You'll choose new categories every three months, giving you greater flexibility over how you earn incentives. However, if you don't engage any bonus categories, all of your purchases will only earn you 1% back.
• Potentially Beneficial Introductory Offers: As a new cardholder, you'll get $150 cash back after spending $500 in the first 90 days, as well as a 12-month introductory 0% APR on balance transfers. If you have a balance on another credit card, transferring it to the U.S. Bank Cash Plus card might save you hundreds of dollars in interest, considerably more than the bonus value. Let's imagine you have a $3,000 balance on a card with a 20% interest rate.

Disadvantages-

• Low Base Rewards Rate: While bonus categories can earn you up to 5% cash back, it's probable that most of your purchases will only earn you 1% cash back, especially if you only use one card. This difficulty can be solved in one of two ways: either choose a card that offers a greater rewards rate on all transactions, or match the U.S. Bank Cash Plus with a card that offers 1.5 percent or 2 percent back on all purchases.
• Complicated Reward Structure: If getting the most out of your rewards is your main goal, this card offers several options. However, you'll have to put in some effort, such as evaluating your buying habits to figure out which bonus categories to choose and ensuring that you activate them on time each quarter. To put it another way, if you're searching for a simple cash-back rewards credit card, this isn't it. Other cash-back credit cards give a flat rewards rate of 1.5 percent or 2% on every purchase.
• Purchases with no introductory 0% APR: Many cash-back credit cards that provide a 0% APR initial offer do so for both new purchases and balance transfers. This card, on the other hand, levies interest on purchases from the start. It won't be a problem if you only require the balance transfer promotion. However, if you want to finance a significant purchase and pay it off over time without incurring interest, look for a card that would allow you to do so.

At a glance –

• In the first year, you might get up to $550 in cash back.
• After spending $500 in eligible net purchases during the first 90 days after account opening, you'll get a $150 bonus.
• On your first $2,000 in cumulative eligible net purchases ($100 per quarter), you'll get 5% cash back on two categories of your choice. That's a total of $400 in cash back!
• You can get 2% cash back on one everyday category, such as petrol stations or grocery stores.
• All other qualified net purchases will earn you 1% cash back.
• There is no limit to the total amount of cash back that can be received.
• On debt transfers, there is a 0% Intro APR* for the first 12 billing cycles. Following that, a variable APR of currently 13.99 percent to 23.99 percent is applied.
• *There is no annual charge.