U.S. Bank Shopper Cash Rewards™ Visa Signature® Card Review
It’s not anything new for a cash-back bank card to mix bonus rewards on purchases with explicit shops and broader cash-back income in general-spending classes like gasoline, eating places, or go back and forth. Two of my favourite retailer bank cards, the Amazon Prime Rewards Visa Signature Card and the Costco Anywhere Visa via Citi, do that rather well.
It is a little bit odd — although welcome — for a cash-back card to can help you make a choice from which shops you earn bonus rewards. And much more odd for a similar card to can help you select your bonus general-spending classes.
The U.S. Bank Shopper Cash Rewards™ Visa Signature® Card does each, so it’s a bona fide breath of unpolluted air within the cash-back bank card house. It’s no longer best — its flexibility provides complexity, and it has an annual charge after the primary 12 months. But in the event you’re no longer inspired via your different cash-back card choices, it’s without a doubt price testing.
What Is the U.S. Bank Shopper Cash Rewards Visa Signature Card?
The U.S. Bank Shopper Cash Rewards Visa Signature Card is a cash-back bank card that earns as much as 6% coins again on eligible purchases.
You can earn 6% again on purchases along with your selection of two taking part shops, 3% again on purchases to your selection of spending class, and 1.5% again on all different eligible purchases. Quarterly spending limits observe to the 6% and three% tiers. You can replace your selection of store and spending class each and every quarter as neatly.
The Shopper Cash Rewards Card has a $0 introductory annual charge for the primary 12 months, then a $95 annual charge each and every 12 months thereafter. It has a pleasing sign-up bonus for brand spanking new cardholders and a few different perks price bringing up too.
What Sets the U.S. Bank Shopper Cash Rewards Visa Signature Card Apart?
The Shopper Cash Rewards Card stands proud for a number of causes:
- 6% Cash-Back Tier Focused on Specific Retailers. Unlike maximum cash-back bank cards that aren’t cobranded (or subsidized via a specific service provider), the Shopper Cash Rewards Card has a cash-back tier that will pay handiest in your selection of two taking part traders. If you spend closely with any at the checklist, you’ll be able to in reality rack up the rewards right here.
- 5.5% Cash Back on Prepaid Hotel and Car Rentals Booked Through U.S. Bank. The Shopper Cash Rewards Card has the most efficient cash-back fee for pay as you go go back and forth of any primary cash-back bank card. The handiest catch is it’s important to e book via U.S. Bank’s go back and forth portal.
- Flexible Redemption Options, Including Instant Cash Back. The Shopper Cash Rewards Card has the standard lineup of versatile cash-back redemption choices, plus a novelty: rapid redemption that instantly reduces your web out-of-pocket price for eligible purchases.
Key Features of the U.S. Bank Shopper Cash Rewards Visa Signature Card
These are a very powerful options of the Shopper Cash Rewards Card: sign-up bonus, common cash-back program, credit score necessities, charges, and extra.
Earn a one-time bonus price $250 after you spend $2,000 in eligible purchases inside the first 120 days of account opening. The qualifying spend duration stretches a little bit longer than maximum different cash-back playing cards — 4 months as a substitute of three months.
Earning Cash Back
The Shopper Cash Rewards Card has a multitiered (and albeit complicated) cash-back program.
6% Cash-Back Tier
First, you earn 6% coins again at the first $1,500 in blended eligible purchases each and every quarter with two shops of your opting for. Participating shops come with (however aren’t restricted to):
- Best Buy
- Home Depot
- Restoration Hardware
U.S. Bank has a persuasive graphic appearing how purchases with quite a lot of shops in its 6% cash-back tier evaluate towards the ones shops’ retailer bank cards. Left out is the truth that maximum shops’ retailer bank cards don’t cap rewards attainable, because the Shopper Rewards Card does:
You can trade your preferred shops each and every quarter if you want. You should turn on your bonus cash-back income each and every quarter in the end, in order that’s a just right alternative to ensure your previous picks nonetheless be just right for you or replace accordingly.
3% Cash-Back Tier
Next, you earn 3% coins again on purchases to your selection of general-spending class, equivalent to gasoline and EV charging stations, utilities, and wholesale golf equipment. You can select a unmarried class each and every quarter and should turn on to obtain 3% coins again.
As with the 6% tier, bonus cash-back eligibility tops out at $1,500 in class spending each and every quarter.
Even with the cap, the one-two punch of the three% and six% tiers gives very good annual cash-back incomes attainable. Using U.S. Bank’s cash-back calculator, we see most attainable 3% and six% tier income of $540: $360 at 6% and $180 at 3%. Add within the one-time welcome bonus and also you’re taking a look at $790 in overall first-year income prior to you spend a dime within the 1.5% and 5.5% tiers.
5.5% Cash-Back Tier
This is a mini-tier that incorporates handiest pay as you go lodge and automobile apartment bookings made throughout the U.S. Bank Reward Center. To earn 5.5% coins again on those purchases, you wish to have to seek for, e book, and pay for eligible go back and forth purchases there — indirectly with the lodge or automobile apartment corporate, nor with some other third-party go back and forth reserving engine.
1.5% Cash-Back Tier
All different eligible purchases earn limitless 1.5% coins again. This contains purchases above the quarterly spend caps within the 3% and six% tiers, and purchases that will usually qualify for the ones tiers however don’t since you didn’t turn on that quarter.
Turning again to U.S. Bank’s cash-back calculator, see how a modest annual spend of $12,000 within the 1.5% catch-all tier and $2,400 within the hotels-and-cars tier upload up if we proceed to max out the three% and six% tier spends:
Redeeming Cash Back
You can redeem amassed coins again for observation credit, present or rewards playing cards, and deposits to a related U.S. Bank account. Pretty usual for a cash-back bank card
But essentially the most handy choice isn’t usual: Real-Time Rewards, a distinct U.S. Bank characteristic that straight away redeems coins again on purchases as you are making them. When you are making a purchase order eligible for Real-Time Rewards, you’ll obtain a textual content message asking if you wish to redeem towards it. Reply “REDEEM” and also you’re just right to head.
You should have sufficient rewards to hide the total quantity of the acquisition, so Real-Time Rewards is absolute best for smaller transactions.
This card has a $95 annual charge after the primary 12 months. Foreign transactions price 3% of the overall transaction quantity.
U.S. Bank doesn’t supply a particular minimal credit score rating for this card. It does say candidates want just right or higher credit score to qualify. If your credit score rating is underneath 720 or so, you will have bother getting your utility authorized.
Advantages of the U.S. Bank Shopper Cash Rewards Visa Signature Card
These are the most efficient arguments in choose of the Shopper Cash Rewards Card. Decide for your self in the event that they outweigh the downsides.
- Multiple Opportunities to Earn Bonus Cash Back on Everyday Spending. The Shopper Cash Rewards Card has 3 major cash-back tiers and one mini-tier for pay as you go motels and automobile leases booked via U.S. Bank. And the three% and six% tiers are customizable. Bottom line: You can fine-tune your cash-back enjoy right here in some way that’s no longer conceivable with maximum different playing cards.
- 5.5% Cash Back on Prepaid Hotels and Car Rentals Booked Through U.S. Bank. This is the most efficient fee on pay as you go go back and forth purchases made via a big bank card issuer’s on-line reserving portal. It’s higher than Chase, whose 5% go back on pay as you go go back and forth was once prior to now the gold usual.
- Good Baseline Cash-Back Rate (1.5%). This card’s baseline cash-back fee is first rate at 1.5%. That’s higher than the 1% baseline many different playing cards be offering.
- Solid Welcome Offer. This card’s one-time welcome be offering is cast too. With a reasonable early spend threshold and an additional month to get there, it will have to be practical for many new cardholders too.
- Flexible Redemption Options. The actual standout here’s Real-Time Rewards, which helps you to redeem amassed rewards on the level of sale — in individual or on-line.
Disadvantages of the U.S. Bank Shopper Cash Rewards Visa Signature Card
The Shopper Cash Rewards Card does have a couple of notable downsides.
- Has a $95 Annual Fee After the First Year. The Shopper Cash Rewards Card has a $0 introductory annual charge for the primary 12 months. Then the joys ends, and also you pay $95 in step with 12 months shifting ahead. If you max out the three% and six% tiers (and even come shut), you’ll nonetheless pop out forward, however the associated fee eats into your benefit however.
- Rewards Program Is Complicated and Requires Some Work From Cardholders. The Shopper Cash Rewards Card’s rewards program is extra difficult than the common cash-back card’s. It additionally calls for guide activation each and every quarter. If you need a real set-it-and-forget-it rewards card, this ain’t it.
- 6% Cash-Back Category Has a Limited Number of Participating Merchants. The saving grace is that a few of these taking part traders are some of the greatest round: Walmart, Amazon, Best Buy, Target, Home Depot, Apple. Still, the restricted variety is a constraint.
- No 0% APR Intro Offer. This card lacks a zero% APR intro be offering for purchases or steadiness transfers. That’s a commonplace characteristic of alternative cash-back playing cards and a transparent drawback.
How the U.S. Bank Shopper Cash Rewards Visa Signature Card Stacks Up
The Shopper Cash Rewards Card is more or less its personal factor, but it surely’s maximum very similar to different cash-back playing cards with rotating or customizable bonus classes. See the way it stacks as much as Bank of America’s customized coins again providing: the Bank of America® Customized Cash Rewards Credit Card.
|Shopper Cash Rewards||Customized Cash Back|
|6% Cash Back||On as much as $1,500 in quarterly spend along with your selection of 2 shops||None|
|3% Cash Back||On as much as $1,500 in quarterly spend to your selection of 1 spending class||On as much as $2,500 in quarterly spend to your selection of 1 spending class (cap shared with 2% classes)|
|2% Cash Back||None||On as much as $2,500 in quarterly spend at warehouse golf equipment and grocery retail outlets (cap shared with 3% classes)|
|1.5% Cash Back||All different eligible purchases||None|
|1% Cash Back||None||All different eligible purchases|
|0% Intro APR Promo||None||15 months on purchases and steadiness transfers|
|Annual Fee||$0 for the primary 12 months, then $95||$0|
Other Alternatives to Consider
The Shopper Cash Rewards Card has every other shut competition too. Look into those playing cards prior to you observe:
The U.S. Bank Shopper Cash Rewards™ Visa Signature® Card is essentially the most cutting edge cash-back bank card to hit the marketplace in a while. I specifically love the theory of opting for which traders you’ll earn 6% again with each and every quarter.
I’m no longer proud of all sides of the Shopper Cash Rewards Card although. The guide enrollment requirement feels reasonable along bank cards like Citi Custom Cash, which mechanically do the be just right for you each and every month or quarter. And the entire complexity of the rewards program could be an excessive amount of for bank card inexperienced persons to take advantage of.
But all in all, I’m bullish at the Shopper Cash Rewards Card. So a ways, it stands on my own, however let’s see if imitators crop up within the months and future years.