U.S. Bank Cash Plus Visa Card Review (2023)

The U.S. Bank Cash Plus Visa Signature Card stands out in the crowded cash back card market with its highly customizable rewards structure that allows cardholders to select their own 5% and 2% cash back categories each quarter, providing unprecedented flexibility for consumers who want to align their credit card rewards with their actual spending patterns.

How the U.S. Bank Cash Plus Visa Card Works

The Cash Plus card operates on a tiered cash back system where you earn different rates depending on purchase categories, with the standout feature being your ability to personally select which spending categories earn the highest rewards each quarter through your online account management portal.

This customization allows you to earn 5% cash back on your first $2,000 in combined eligible purchases each quarter in two categories you choose, giving you the power to adapt your rewards to seasonal spending patterns or consistent expenses in your budget.

The card further rewards your spending with unlimited 2% cash back in one everyday category of your choice (such as gas stations, grocery stores, or restaurants), while all other purchases automatically earn a standard 1% cash back rate with no caps or expiration dates.

5% Cash Back Category Options

The 5% cash back tier offers an impressive selection of category options that rotate periodically, including TV/internet/streaming services, home utilities, cell phone providers, department stores, electronic stores, sporting goods stores, and furniture stores.

These categories allow strategic cardholders to maximize rewards on major purchases by timing them to align with their 5% selections, potentially earning up to $100 in bonus cash back each quarter if they reach the full $2,000 spending cap in those chosen categories.

The flexibility to change these 5% categories each quarter means you can adapt your rewards structure to accommodate seasonal expenses like back-to-school shopping, holiday gifts, or home improvement projects during spring and summer months.

2% Cash Back Category Selection

The permanent 2% cash back categories provide consistent value on everyday spending, with options including grocery stores, restaurants, gas stations/EV charging stations, and select streaming services that remain available year-round.

Unlike the 5% categories, the 2% category has no spending cap, making it particularly valuable for high-volume spending areas in your budget like groceries or gas, where unlimited 2% returns can significantly accumulate over time.

Cardholders should strategically select their 2% category based on which option represents their highest consistent monthly expense that isn’t better covered by another rewards card in their wallet, maximizing the overall return across their entire credit card portfolio.

Additional Card Benefits and Features

Beyond its cash back structure, the Cash Plus card includes a competitive introductory APR offer on both purchases and balance transfers for the first 12 billing cycles, providing valuable flexibility for financing larger purchases or consolidating debt from higher-interest cards.

The card carries no annual fee, making it accessible to budget-conscious consumers and ensuring that the rewards you earn aren’t offset by yearly membership costs that can diminish the effective value of cash back programs.

Security features include zero fraud liability protection, real-time fraud monitoring, and the ability to instantly lock your card through the mobile app if it’s lost or stolen, providing peace of mind alongside the card’s rewards program.

Cash Back Redemption Options

U.S. Bank offers multiple redemption paths for your earned cash back, including statement credits that directly reduce your card balance, deposits to a U.S. Bank checking or savings account, or U.S. Bank Rewards Card that functions like a prepaid card.

The redemption process is straightforward through the U.S. Bank mobile app or online banking portal, though it’s worth noting that redemptions start at a minimum of $25 when choosing statement credits or deposits to your bank account.

Cash back rewards don’t expire as long as your account remains open and in good standing, allowing you to accumulate rewards over time for larger redemptions if you prefer not to cash out smaller amounts frequently.

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Conclusion

The U.S. Bank Cash Plus Visa Card delivers exceptional value through its unique customizable rewards structure that adapts to your spending patterns, making it particularly beneficial for consumers who want to maximize returns across specific spending categories that align with their lifestyle.

The combination of no annual fee, flexible redemption options, and the potential to earn 5% in categories you select positions this card as a strong contender in the cash back market, especially when strategically paired with other rewards cards to maximize returns across all spending categories.

For maximum benefit, cardholders should diligently select and track their 5% and 2% categories each quarter, set calendar reminders for category selection deadlines, and be mindful of the $2,000 quarterly cap on 5% categories to ensure they’re optimizing their potential rewards throughout the year.

Frequently Asked Questions

1. When do I need to select my 5% and 2% cash back categories each quarter?
   You must select your categories by the end of the quarter’s first month, otherwise, your purchases default to the 1% cash back rate until selections are made.

2. Can I change my 5% and 2% categories mid-quarter if my spending habits change?
   No, once categories are selected for a quarter, they cannot be modified until the next quarter’s selection period opens.

3. How does the U.S. Bank Cash Plus Visa compare to other customizable cash back cards?
   It offers more flexibility than most competitors with two selectable 5% categories and one 2% category, while many others only allow customization in a single category.

4. Is there a sign-up bonus available with the U.S. Bank Cash Plus Visa Card?
   Yes, new cardholders can typically earn a cash bonus after meeting a specified spending requirement within the first few months of account opening.

5. Does the U.S. Bank Cash Plus Visa Card charge foreign transaction fees?
   Yes, the card charges a 2-3% fee on purchases made outside the United States, making it suboptimal for international travelers.