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U.S. Bank Cash+® Visa® Secured Card
Build Credit and Earn Cash Back
- No annual fee
- Earn 5% back on the first $2,000 in combined eligible purchases each quarter in two categories you choose
- Earn 2% back on the first $2,000 in combined eligible purchases each quarter in one everyday category
- Earn 1% Back on all other purchases
- Regular Purchase APR: 25.99% variable based on the Prime Rate
- Balance Transfer APR: 25.99% variable based on the Prime Rate
- Balance Transfer Transaction Fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
- Cash Advance APR: 25.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either 5% of the amount of each advance or $10 minimum, whichever is greater
- Foreign Transaction Fee: 3% of each foreign transaction in US dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
- Minimum Deposit Required: $300
At a Glance
The U.S. Bank Cash+® Visa® Secured Card is a secured credit card that offers up to 5% cash back on purchases, reasonable minimum deposit requirements, and more – all for no annual fee.
Ideal for Those Who:
- Have bad credit or no credit history
- Want the chance to graduate to a lucrative no annual fee, unsecured rewards card
- Want to earn up to 5% cash back
- Don’t want to pay an annual fee
U.S. Bank Cash+® Visa® Secured Card Review
The U.S. Bank Cash+® Visa® Secured Card is an excellent secured and cash back credit card that gives cardholders the power to decide how they earn their cash back. The card earns 5% back on two select categories of your choice, 2% back on one “everyday” category, and 1% back on all other purchases. Cardholders also have the chance to graduate to the unsecured version of the card with responsible use and on-time payments – all for no annual fee.
Set Your Own Credit Limit
Secured credit cards are a great entry point into the credit card world because they feature lower credit score requirements than unsecured cards. These lower credit score requirements come from the security deposit that acts as collateral for the loan – and the credit limit.
With the U.S. Bank Cash+® Visa® Secured Card, credit limits run from a $300 minimum deposit up to $5,000. Your credit limit will depend on your initial deposit, but that credit line can increase with further deposits.
How to Earn Rewards
Like the unsecured U.S. Bank Cash + Visa Signature, the U.S. Bank Cash+® Visa® Secured offers up to 5% back on the cash back categories of the user’s choice. They’ll also earn 2% back in their choice of one “everyday” category and 1% back on every other dollar spent on purchases.
5% Cash Back Categories
Cardholders earn 5% back on the first $2,000 in combined eligible purchases in their choice of any two of the following categories:
- TV, internet, and streaming services
- Fast food
- Cell phone providers
- Department stores
- Home utilities
- Clothing stores
- Electronics stores
- Furniture stores
- Sporting goods stores
- Movie theaters
- Fitness centers
- Ground transportation
2% Cash Back Categories
Cardholders also have the same option with their 2% “everyday” category, and select one of the following three categories each quarter:
- Grocery stores
- Gas stations
The ability to customize your cash back options – and change them each quarter – is an excellent feature that really helps to maximize the cash back potential of this card. This feature is even more impressive given the secured nature of the card. Very few secured credit cards offer the type of versatility found with the U.S. Bank secured credit cards – and the Cash+ Visa Secured is no different.
How to Redeem
Cash back redemption options with the U.S. Bank Cash+ Secured Card are straightforward, with three redemption options from which to choose. Cardholders can receive their cash back as a statement credit, a direct deposit into a U.S. Bank checking, savings, or money market account, or simply use their rewards card to use their rewards.
Graduate to the Unsecured Cash+ Visa Signature
Tracking credit health with the card is made easy thanks to complimentary access to the accountholder’s VantageScore each month. And, since U.S. Bank reports to all three major credit bureaus (Experian, Equifax, and TransUnion) each month, building credit with the card is easy with determination, hard work, and persistence.
Cash+ Visa Secured cardholders that spend within their limits, pay their monthly minimum balance due, and demonstrate good financial habits may automatically graduate to the U.S. Bank Cash+ Visa Signature Card. If they graduate, they’ll recover their security deposit and enjoy all the benefits of an unsecured cash back credit card.
Other Card Features
Other notable features of the U.S. Bank Cash+® Visa® Secured Card include:
- Visa Zero Fraud Liability
- EMV chip and contactless payment technology
- 24/7 account access online and through the U.S. Bank mobile app
- Choose your own payment due date
- No annual fee
- 3% foreign transaction fee
Should You Apply for the U.S. Bank Cash+® Visa® Secured Card?
The U.S. Bank Cash+® Visa® Secured Card offers plenty of “oomph” for a secured card – enough so to make it an exciting offer to consider. The card features up to 5% cash back on an impressive selection of categories, including fast food, home utilities, clothing, fitness, and more – plus 2% back on gas, groceries, or dining.
While the card is a secured credit card, the tools are there to help the cardholder advance to an unsecured version of the card. These tools include complimentary credit score access, the choice of setting your own due date, and comprehensive fraud protection.
Overall, the U.S. Bank Cash+® Visa® Secured Card offers everything a user typically looks for in an unsecured credit card but offers it to those with limited credit histories – or bad credit scores. For those seeking to boost their score, the card is an ideal tool for everyday rewards.