U.S Bank Cash+ Card Now Available For Online Applications

The U.S Bank Cash+ card allows you to choose two 5% cash back categories every quarter (and one 2% category), there is a spending limit of $2,000 per quarter but that still equals $100 in cash back per quarter if you can max out that spending.

Previously it wasn’t possible to apply for this card online, you had to apply at a U.S Bank branch, use their windows phone application and sometimes they would accept phone applications. It’s now possible to apply for this card online directly. This card has no annual fee, but also no sign up bonus.

Cash Back Categories

The U.S Bank Cash+ card allows you to to choose one 2% cash back category and two 5% cash back categories.

5% categories

Below is a list of all the 5% cash back categories, keep in mind you can choose two of these:

• Select Clothing Stores
• Gyms/Fitness Centers
• Sporting Goods Stores
• Sporting Good Stores
• Cellphone
• Bookstores
• Department Stores
• Electronic Stores
• Fast Food
• Furniture Stores
• Car Rental
• Charity
• Movie Theaters

2% categories

These aren’t very useful because you should be getting at least 2% cash back on all of your purchases anyway. But here are the 2% cash back categories

• Gas stations
• Grocery stores
• Restaurants

Devaluations

Even though this is a cash back card, U.S Bank has been devaluing how useful the card is. This has been so rampant that people often refer to this card as the Nerf+. Here are some of the recent negative changes they have made:

• Removed Restaurants as a 5% category
• When you redeem $100+ in cash back, you used to receive a $25 bonus which was once per calendar year. This is now being changed to once per lifetime (used to even be unlimited)

There have been a lot of other categories that have been removed, but those are the two most recent negative changes.

Final Thoughts

I have this card and I had been using it for all of my Restaurant expenses and charity donations, I actually spend enough in those categories to easy max out the $2,000 per quarter (yay work lunches and dinners). Now that Restaurants have been removed, I’ll need to up my charity donations.

[Read: Manufacturing Credit Card Spend With Kiva]

I think most people will really struggle to max out the $2,000 per quarter, given the fact that there is also no sign up bonus I don’t think this card is worth applying for directly. That being said because it has no annual fee and 5% categories, it’s the best U.S Bank credit card to downgrade to.

If you are going to apply for any U.S Bank credit cards, you should freeze your IDA & ARS reports first.