Credit Cards (US)
U.S. Bank Cash+® Visa® Secured Card full review
Check out the U.S. Bank Cash+® Visa® Secured Card review and learn how this card could be a valuable addition to your wallet.
by Aline Augusto
U.S. Bank Cash+ Visa Secured Card: $0 annual fee and many perks
Secured cards are fantastic choices for those who need to build credit. However, not all of these cards come with many perks at a very low cost. This U.S. Bank Cash+® Visa® Secured review will show you why this card differs from others.
The U.S. Bank Cash+ Visa Secured Card is worth taking a look at. So, check out the summary of benefits and fees right below!
|Credit Score||All credit scores are considered|
|Fees||Balance Transfer, Convenience Check Cash Advance: 3% of the amount of each transaction or $5 minimum, whichever is greater|
Cash Advance ATM, Cash Advance, Cash Equivalent Advance: 5% of the amount of each transaction or $10 minimum, whichever is greater
Overdraft Protection: none
Foreign Transaction: none
Late Payment and Returned Payment: up to $41
|Rewards||5% cash back – on combined purchases per quarter in two categories of your choice, on the first $2,000|
5% cash back – hotel, car reservations, and prepaid air booked through the Rewards Travel Center
2% cash back – eligible purchases of one everyday category of your choice
1% cash back – all other purchases
If you need to build credit and enjoy earning rewards, this card might be amazing for you. But, before applying for one, read on to check if it fits your finances and goals.
How does the U.S. Bank Cash+ Visa Secured Card work?
U.S. Bank offers one more option for those who need to build credit. The U.S. Bank Cash+ Visa Secured Card is a fantastic choice if you want to earn cash back while working on your finances.
This card provides a range of amounts for the security deposit required from $300 to $5,000.
The deposit will work as your credit limit and it is refundable. Plus, it is held in an FDIC-insured savings account.
The card comes with zero annual fees and a lot of benefits. Among the benefits, the card provides an autopay option, Mobile Wallet access, $0 fraud liability, contactless payment option, and ID Navigator Powered by NortonLifeLock.
In addition, you can choose the best payment due date for you.
Also, the rewards are divided into percentages and categories, as described below:
- 5% cash back for the first $2,000 spent on combined eligible purchases per quarter in two categories of your choice;
- 5% cash back on hotel, car reservations, and prepaid air, through the Rewards Travel Center;
- 2% cash back on eligible purchases of one everyday category of your choice, including EV charging stations & gas stations, grocery stores, and restaurants;
- 1% cash back on all other eligible purchases.
Furthermore, this secured card reports to all three major credit bureaus, which means if you use it responsibly you can build your credit.
U.S. Bank Cash+ Visa Secured Card benefits
The U.S. Bank Cash+ Visa Secured Card has a very low cost, considering the number of benefits. Besides the rewards, it allows you to feel peace of mind with security features, flexibility, and convenience. But, you must be aware of the relatively high APR.
- It offers a good rate of cash back for eligible purchases;
- It charges a $0 annual fee;
- It gathers convenience, flexibility, and security features;
- It reports to all three major credit bureaus so you can build your credit if use the card responsibly;
- The security deposit is refundable, and it is held in an FDIC-insured savings account.
- It requires a security deposit;
- The APR is quite high;
- The reward program is relatively complicated.
How good does your credit score need to be?
All credit scores are considered in the application. As a secured card, it helps you build credit with responsible usage. Therefore if you need to reestablish your finances, applying for this card might be an alternative.
How to apply for U.S. Bank Cash+® Visa® Secured Card?
If you are interested in applying for a U.S. Bank Cash+ Visa Secured Card, learn how easy and fast it is by reading our next post!
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