Difference between revisions of "U.s. bank cash+ card"
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*[[#Choose Your Own Categories|Choose Your Own Categories]] | *[[#Choose Your Own Categories|Choose Your Own Categories]] | ||
*[[#Notable Benefits|Notable Benefits]] | *[[#Notable Benefits|Notable Benefits]] | ||
| + | *[[#Getting Rid of the Card|Getting Rid of the Card]] | ||
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{{Benefit Signature}} | {{Benefit Signature}} | ||
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| + | |||
| + | === Getting Rid of the Card === | ||
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| + | <ul class="bulletlist"> | ||
| + | <li>{{Cancel Cashout}}</li> | ||
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| + | <li>{{Cancel Retention}}</li> | ||
</ul> | </ul> | ||
Revision as of 15:57, 24 October 2020
No annual fee
$150 with $500 initial spend.
($140 net value, 29/$)None
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.
Jump to:
Collecting the Signup Bonus
There is normally no signup bonus. However, they are currently offering a $150 bonus ($500 initial spending requirement). This is about as good of a signup bonus that you are likely to get for this card.
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.