U.S. Bank Cash Plus Credit Card Review


Earning Up To 5% Back – Cash Plus Card

US Bank offers the consumer Cash Plus Credit Card.  This credit card is a cash back card that provides up to 5% cash back on purchases.  The cash back rates on this card can be highly customized.  Each quarter, customers can select two categories to earn 5% cash back.  This will be good for the first $5,000 spent in those categories.  Secondly, customers can select a 2% cash back category.  Finally, all other purchases are eligible for 1% cash back.  The Cash+ card now comes with a sign up bonus ($150).  Overall, this is a very nice cash back credit card for US Bank customers and ranks high due to the highly customizable cash back features.

US Bank Cash Plus
US Bank Cash Plus

Picking Your Categories – Cash+ Card

The Cash+ Card is unlike most cash back credit cards in that you have a lot of control over how you earn rewards.  Cardholders will make three selections which will determine their earnings.  First, there are a number of 5% cash back categories.  Cash+ users will select two of these.  During the following quarter, customers will earn 5% cashback with the first $2,000 spent in those categories.  Some of the most popular 5% cash back categories include:

  • Fast food purchases
  • Furniture purchases
  • Electronic stores
  • Clothing stores
  • Cell phone expenses
  • Sporting goods

This is not an exhaustive list.  Categories may be updated quarterly and customers are encouraged to update their selections based on their expected spending.  For instance, if you anticipate making a large furniture purchase, you should make sure you have this category active at the time of purchase.  This category may then be switched after the purchase has been completed.  Categories will be subject to specific stores and services so be sure to check if the place you plan on shopping is eligible for the 5% bonus.

In addition to the 5% category, customers must also select a 2% category.  Customers can choose between gas, groceries, and restaurants.  There is no limit on this category so all of your purchases will be eligible for the 2% cash back threshold.

Additional Credit Card Features and Benefits

One of the best things about the Cash Plus Card is that it now comes with a big sign up bonus.  When this card was released there was no sign up bonus.  Recently, the bonus was set up $100.  Currently the offer for new cardholders includes a $150 sign up bonus.  Furthermore, this bonus is extremely easy to earn.  Customers only need to spend $500 on their new account within 90 days of opening.

Above, we discussed the category selections for earning cash back with your card.  Another big benefit with this card is all other non-category purchases will earn 1% back.  This means every purchase you make will earn cash rewards with some of your spending earning 5% cash back.  Your cash back can be redeemed in one of three ways:

  • Redeem as statement credit
  • Directly deposit in to your US Bank Account
  • Select to receive funds on a rewards card

There is no minimum balance on cash back in order to redeem.  Customers can select any amount to apply as statement credit.  Additionally, this card does not have an annual fee.

Activating Your New Cash+ Credit Card

The most popular method to activate a new US Bank Cash Plus card is online.  Customers can visit the US Bank Cash Plus website to set up their new account.

Cash Plus Card Activation
Cash Plus Card Activation Form

Cardholders will need to provide their zip code, the last four digits of their card, and their last name.  Once you are signed in to your online account you will be able to activate your Cash+ Card and begin using it immediately.

How Does This Card Stack Up Against Other Cash Back Options?

The answer to this question will depend on the consumer.  If you are able to take advantage of the 5% cash back category, this card will have a lot of value.  For customers who find they prefer a more simple cash rewards structure, a flat 2% card like the Citi Double Cash Card may be a better option.  Another new card getting a lot of buzz and attention is the Apple Credit Card.  For consumers who regularly use Apple Pay, this card will also earn them 2% back on those purchases.  Here is a full review of the top cash back credit cards to review for even more options. Finally, if you think cash back cards suck, check out our article about alternatives to cash back credit cards.

Final Thoughts – US Bank Cash+ Card

Overall, this credit card is a good cash back option but will primarily appeal to consumers who will be able to regularly take advantage of the 5% cash back categories.  I would encourage consumers to review the 5% cash back options and decide if this card will benefit you or not.  There are much simpler cards where customers do not need to select categories.  If you are not able to update your card quarterly, this would not be a good option.  That said, with no annual fee and a great sign up bonus, it is hard to go wrong with the Cash Plus Card.  Let us know your thoughts about this card in the comments below.

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