U.S. Bank has launched two new secured credit cards. The new cards are secured versions of two of the bank’s more popular rewards cards, the U.S. Bank Cash+® Visa® and U.S. Bank Altitude® Go Visa® and offer the chance of graduation to those cards with on-time payments and responsible use. Here’s what you need to know about the new U.S. Bank secured credit cards:
U.S. Bank Launches Two New Secured Credit Cards
Subprime credit cards are among the hottest trends in the credit market, with multiple issuers seeking to provide quality credit building products in an increasingly competitive space. U.S. Bank is now aggressively pushing into the secured credit card market with two new secured cards – the Cash+® Visa® Secured Card and the Altitude® Go Visa® Secured Card.
The new cards, launched earlier this week, feature no annual fee and impressive rewards for every eligible purchase. Here’s what you need to know about the new secured cards:
U.S. Bank Cash+® Visa® Secured Card
The U.S. Bank Cash+® Visa® Secured Card offers up to 5% cash back on the first $2,000 in combined eligible purchases in their choice of any two broad categories, including fast food, department stores, sporting goods, fitness, ground transportation, and more. Cardholders also earn 2% back on one “everyday” category, with options including grocery stores, gas stations, and restaurants.
U.S. Bank Altitude® Go Visa® Secured Card
The U.S. Bank Altitude Go Visa Secured Card offers up to 4X points on purchases and no foreign transaction fees on purchases made overseas or in non-U.S. dollars. The card earns 4X on dining, food delivery, and takeout, 2X on streaming services, groceries, and gas station purchases. The Go Visa Secured also offers a $15 streaming services statement credit each year after using the card to pay 11 consecutive months of an eligible streaming service – such as Netflix, Hulu, or others.
The Chance to Graduate to an Unsecured Version
Both new U.S. Bank secured cards offer the chance to automatically graduate to the unsecured version of the card with responsible use and on-time payments. Most secured credit cards that offer a graduation route don’t provide the types of rewards on offer with the Altitude Go and Cash+ (except for the notable examples, like the Discover It Secured). These perks make the new card offers particularly attractive for those looking to work their way up to impressive rewards cards without the need for multiple credit applications.
Related Article: The Best Secured Credit Cards for 2021