U.S. Bank Cash+ Card
No annual fee
$150
$500 initial spend
($140 net value, 29/$)
Signup Bonus Chart5% Two Categories of Your Choice
2% Your Choice of Restaurants, Grocery, or Gas
1% Everything Else
3% Foreign Transaction Fee
If you are making the effort to fully optimize the rewards you earn for your credit card spending, the Cash+ card is a valuable addition to your credit card collection. There is no annual fee and you can earn 5% rewards in your choice of two spending categories that don't normally earn bonus rewards from other cards. It is the best of the "Choose Your Category" cards.
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Elan Max Cash Version
Many credit unions offer a Max Cash Preferred Card, which offers the same rewards structure as Cash+ Card—5% back on your choice of two categories (with essentially the same set of categories). The advantage is that it may be possible to get approved for one or more of these on top of the one directly from U.S. Bank (and it might be easier to get approved in the first place). Doctor of Credit publishes a partial list of credit unions that offer this version.
Collecting the Signup Bonus
The main reason to get this card is for the bonus category rewards. The typical $150 signup bonus is a nice side-benefit.
Choose Your Own Categories
Along with a few other lessor-known cards, the U.S. Bank Cash+ card allows you to choose your bonus reward categories from a large set of options. Credit Cards that Offer Bonus Rewards on Less Common Categories
- You'll earn 5% cash-back on your choice of two categories. Official Details.
- You can change your choices each quarter. You don't need to stick to a single set of bonus categories. You can shift your choices around based on the purchases you plan to make. For example, if you are thinking about buying a new TV, you can wait until the beginning of the next calendar quarter, switch one of your bonus categories to Electronic Stores, and earn 5% on your purchase.
- Bonus rewards are limited to your first $2,000 worth of bonus category spending each quarter. Without the first-year bonus, you can earn a maximum of $400 per year in bonus rewards in your "Choose 2" categories. If you aren't going to hit the quarterly cap, you can often purchase gift cards from a merchant within your bonus categories and then use the gift cards at other merchants.
- You'll also earn 2% back on your choice of one "Everyday Category". You can choose between Gas, Restaurants, or Grocery stores each quarter. Normally, this isn't any better than a general-purpose reward card. Even with the extra .5% in your initial year, it is lower than what you'd get from any of the cards that earns bonus rewards in these common categories.
- You don't want to use this card for your everyday spending. You'll earn higher rewards from a good general-purpose reward card. Get a Great General Purpose Reward Card and Use It for All of Your Spending.
| Ground Transportation | Select Clothing Stores | Cell Phones and Services | Electronic Stores |
| TV, Internet and Streaming | Gym / Fitness Centers | Home Ultilites | Fast Food |
| Sporting Good Stores | Department Stores | Furniture Stores | Movie Theaters |
It often makes sense to choose categories, like Furniture Stores or Fitness centers, with which you can't earn bonus rewards with your other cards or categories where the 5% rewards is a significant boost to what you would otherwise earn.
Notable Benefits
- Access to the Visa Signature Luxury Hotel Collection. As with all Visa Signature cards, you'll get access to Visa's luxury hotel program. Whenever you book one of the 900+ participating hotels, you'll receive a set of valuable benefits, including free breakfast, late check-out, and a $25 food and beverage credit. The Visa program has slightly weaker benefits than the other luxury hotel programs, but includes a larger number of more affordable hotel options and a best price guarantee. Take Advantage of Luxury Hotel Programs for Valuable Extra Perks.
- Access to Visa Signature Offers. Your card entitles you to a set of special offers available from Visa.
Getting Rid of the Card
- Make sure to cash out your rewards balance before you cancel your card.
- You might be able to receive a retention offer to keep your card. It could be enough to make it worthwhile to keep the card.