US Bank Cash Plus Review 2021 - Is Cash+ the best no-annual-fee credit card?
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- Опубликовано: 12 сен 2024
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A minor drawback with this card is that if you want a cashback redemption, you have to have a U.S. Bank account, otherwise you'll have to settle for a statement credit.
A medium drawback with this card is that there's a $25 minimum redemption.
A major drawback with this card is that your cashback rewards expire after 3 years. I see this as a major drawback because for example, if you've earned $5 in cashback and a better cashback card comes along, you either have to keep using this card until you reach the $25 minimum redemption or lose your $5 earned cashback if you don't intend to use this card after 3 years.
Definitely a very underrated card as some of those 5% categories are everyday categories that people naturally spend money on
Good thing they bundled Streaming and Internet services together as one category!
I did the math on their calculator and I'd be getting over $800/yr cash back. That's crazy. Definitely applying.
Which 2 categories you pick at 5% and which at 2%?
@@playboysosexy1 Utilities and Cell phone (3 lines). Gas. I have a house in AZ so yeah those bills during the summer are NOT nice lol
This guy is always straight forward, liked the vid as soon as it started up 👍🏼
Had this card since 7/4/18 love it super underrated card.
Just applied! got approved! no previous relationship :) hurray!
How many inquiries did you have in the last 12 months?
7
What was your CL? I have several cards in the 10k to 20k range yet got a super low limit with them
@@mightylaidlow1 mine was really low. I have multiple high credit lines like you and they gave me 500 was honestly embarrassing lol
@@keilrafdahl same boat, got 800. It covers my utilities and then some so it's all good. Hopefully go up in the future. Did they hard pull your report?
Thanks for the upload! Gardening again though for now. Always great to revisit the info =)
Appreciate you watching anyway!
5% is like the new industry standard. Like the ability to choose more options though.
I haven’t seen 5% on utilities, that’s normally people’s highest bills.
Need to be 1/12 or under, but pre-qualified mailers and pre-approvals will bypass. Any bank that uses Elan for credit card services will have the Max Cash Preferred, which is essentially the Cash+, but with a bit more leniency for new accounts (3/12 seems to be the threshold).
Yes, good points, thanks for adding that.
- thats good to know. im currently 4/12 until may. i'll wait till this fall before i apply. im buying a house so that 5% on utilities will be great!
Good to know
It's now $200 bonus for $1,000 in purchases over 120 days.
Damn now that’s annoying since I’ll be getting the Citi cash rewards card I’d be getting 200 for spending 750 in three months
Solid card. I’ve noticed that a lot of smaller banks like People’s United Financial and Webster Bank have similar cards with 5% back in two categories.
Thanks for the info, I may apply to those, how you found them? I checked them out and they are the same, $25 min, etc.
@@Kauffman578 Those banks are in my area, so I’m I’m relatively familiar with them and decided to look at their cards.
@@TheJwa66 are you getting their cards?
@@Kauffman578 My next card will be a 5% cash back card, but I just got the blue cash preferred, so I’m going to wait a while before getting another one.
Elan Bank is the underwriter for this card and they license it out to US Bank and a couple dozen smaller banks across the country. I just got this card through Fulton Bank; a local bank to the west Mid-Atlantic. My highest limit to date.
I recently acquired the US Bank Altitude GO and earned the $200 intro offer. Will I qualify for the intro offer if I apply for this Cash Back card as well?
I'm using this now instead of my American express
So I have a question: I see on the website for the card that the Categories are subject to change (5% category). How often have you seen the 5 and even 2 percent categories change?
rarely
Only change was home utilities in the last couple years.a great category.
@@ScreensAndStreams My only critiques with the Cash Plus, is that, the redemption options are limited, meaning that the cash back rewards can only be used for statement credits or deposited into a US Bank checking or savings, the least US Bank can offer, is a physical check delivered to your mailbox as a flexible redemption method!. Another honest critique, the 5% cash back on travel through US Bank is irrelevant to me, since other banks like Capital One and Chase are already earning 5% back on their own travel portals despite their own limitations, and on top of that, the Cash Plus should mainly be focused on reoccurring bill payments of all types! So saying that, cardholders should have the option to swap out the 5% cash back on the US Bank Travel Portal for Cable TV and WiFi providers, while simultaneously earning 5% back on Utilities along with Cell Phone bills!
Have this and the altitude go. Love both of them. Waiting to then get the reserve
This card is crazy lol looks like the best
Any idea what bureaus they pull? Need to know what to unfreeze.
The thing i hate is that the big categories have crap options... that’s why I don’t wanna make the jump
you dont pay phone? Dont pay tv/internet or home utilities? Those are huge categories that every person spends money on monthly.
@@WinnieTheTrain 40 phone 40 electric that’s it.
I agree, the categories are "common" but not things that a lot of money is spent on. Groceries or online shopping is what I spend the most on, not a utility or phone bill which are both under 100 for the month. I think people should actually calculate what 5% of their cell phone bill would be, or 5% of their water or electric bill. It doesn't seem worth it compared to other cards
@@curlygurlxo Amex gold has a limited run of 1/1 redemption. It’s not for everyone.. jsit targeted customers. If it becomes 1/1... that will be my card
@@curlygurlxo u should get the amex blue cash preferred then big on groceries 6%and other things
I just applied for this card. I'm now waiting for a letter in the mail if I got approved or not. I heard they're strict about approvals, wish me luck!
Were u approved?
@@AllAboutPurple No, he/she was denied. The letter in the mail is a rejection letter.
@@MyAb111 i believe this is true because if you're approved they tell you instantly.
I really want this card but I’m not sure I have the score for it. I have an Experian FICO 8 score of 709, Experian FICO 9 score of 769, Equifax FICO 8 score of 690 and TransUnion FICO 8 score of 673. I’m stuck on what to do because I’m an Apple Sheep and I’m approved for the Apple Card but I haven’t accepted it. Yet. Im planning on buying a new MB Pro when Apple announces them at WWDC along with some Air Tags. 3% back would be nice on those plus installments. I’m also prequalified for Chase Freedom Flex I guess because of existing bank accounts with them. I haven’t had any inquiries in over 2 years. How should I play this? At what intervals should I apply? Which cards first? I’d like to get the Apple Card, US Bank Cash Plus and Chase Freedom Flex. Just looking for some ideas from the experts here.
I’m under 640 and was approved, though. I’ve been an established customer with them for a while which probably help me get approved.
@@brianhumphreys1660 i'm WAY over 640 and was denied about a year ago, so go figure
If I was in your shoes I’d go with chase first because of the 5/24 rule so if you can apply for multiple chase cards and maybe get a chase trifecta then definitely take advantage then I’d go with the US Bank since I’ve heard they also have a rough time accepting new applicants with a lot of new CC Inquiries and accounts… then of course the Apple Card
In which tier will you put this card for applying?
So I don’t have to spend 2,000 each quarter ? I just want to use this for my phone bill and WiFi bill
2000 is the max they will give you 5% back. I pay phone and utilities every month with it, nothing else.
@@azmannarvik7911 oh okay then that’s perfect because my bills aren’t near 2000 , thankyou!
I want this card so bad, but I only have 2 years of credit card history.
That doesn’t matter, it’s the amount of new account open/ hard inquiry you have on your file
Do it if you haven't had any hard inquiries in the past 6 months and no negatives on ur credit I can almost guarantee you'll get it no problem
Anyone know how much more lenient the approval odds are for the Secured version compared the unsecured?
I want this card, but I don't have any relation with US BANK, and I just got Wells Fargo Active Cash Card last month (July)... What are my chances? 🤔😳
I just got it today no previous relationship, 676 fico. 5k limit
I was terrified of applying for their card but I just did it. I had gotten 2 capital one cards a little less than a month before I applied for this one. I got approved for 500🥲lowest card I have but I just wanted it really bad. I was sitting at a 740 something so if you have a 700+ I would do it. I'm in Florida and they pulled from transunion but If your credit is better with another bureau freeze transunion and only unfreeze where you want them to pull from. Good luck 👍
@@jeisiergonzalez1409 how many inquiries did you have in the last 12 months?
@@TheAudioCzar 3 hard inquiries
My plan is to get this card so then I can apply for the altitude reserve . Where I am located ( Texas ) I cannot open a us bank checkings or savings.
Is it true that if the utility is city-owned, then it doesn't qualify for the 5% cash back? I hope not!
Think you can upgrade from the secured card to it?
So far enjoying U.S last few years.
Does anyone if Con Edison count as Home Utilities category?
Which card would you prefer for someone building with a 680 score that’s wants to get into cash back
Discover
Anyone know which popular stores code as department stores with US Bank cards? Thanks in advance.
I have been gardening for some time. Should I go for this card or the Altitude Go? I have a checking account with US Bank so I am hoping that helps my chances
Did u get approved
@@deependmedia still gardening atm waiting I will have no inquiries in my Transition (according to Credit Karma) next month. And I have not had a new account in a year, its been so hard...
@@deependmedia just applied waiting for response...
vebtran let me know what they say
@@deependmedia looks like gardening for a year worked. I had 6 inquiries but they were all at least a year old. And my Discover it was 12 months old. Only thing was I had to verify my address, but card is on the way
With 5% back this card seems to be a no brainer over a potential chase 5/24 slot for a chase card.
If you can get approved, a very good card to have, since you have more control over the 5% categories.
Card has very little return to offer to take up a slot, 5% on utilities most of which charge a fee to use them. Cell phone or streaming are smallerish amounts. Unless you can time for huge purchases I don’t get the hype with this card.
I have a question does anyone know if spectrum Internet and T-Mobile cell phone code as utilities with US Bank cash plus I on my car transaction page. They both show the same categories in my mobile app.
What do you think of someone that has on their credit a secure loan and was added as a authorized user, do you think it could be approved for the US Bank + Visa Signature card?
Just try it brother. Also can you please add me as authorized user for a month
Would I get 5% on home utilities well minus 3% with plastiq so total 2% on hoa payments that fall under home and utilities: home mantiemce and would mortgage that's under home and utilities: mortgage
I'm assuming no but 2% would make this card too good 🔥🔥🔥
I want to use this card specifically my for phone payment and electric bill, how consistant are these catagories for this card?
What do you mean consistent?
@@stonedog23 Does the phone bill and utilities bill stay as a category to choose from through out each quarter? He mentioned some times they change.
@@Gangstadeath619 Looks like Home Utilities and Phone Providers have stayed consistent. The only notable change I've seen so far is EV charging being added to Gas in the 2% bracket
Love this card for the 5% back on utilities and cell phone categories. Doesn't take me long at all to accrue $25 in rewards
Literally, none of the catagories is of any interest to me at all. Way too narrow or restrictive. I gave up on a single card long ago. Cash back for me requires 6 card, at least for me. With luck, it will drop to 4 by years end.
How is this not appealing for utilities? How do you cover that category?
If you like being told "No" you will love U.S. Bank.
2k combined per quarter is trash. That’s 8k a year. That’s $400 per year so I’m not impressed. Then it goes back to 1%, not even 1.5%?? Naaa
For a no annual fee card?!?
No cap on 2% categories
Discover it and Chase Freedom Flex both have their 5% categories capped at 1500 per quarter. I have both of those and the Citi Custom Cash which has one 5% category capped at $500 per month. I plan to get the US Bank Cash+ as well. I can cover a variety of categories with 5% and if there's something I need to spend more than the cap, I can have 2 or more cards getting 5% in the same category.
$400 per year plus the 2% cash back category is a lot for a no annual fee card.
@@chags3512 pretty shitty when I spend around 40k
Does it have any cash advance fee? Thank you
A minor drawback with this card is that if you want a cashback redemption, you have to have a U.S. Bank account, otherwise you'll have to settle for a statement credit.
A medium drawback with this card is that there's a $25 minimum redemption.
A major drawback with this card is that your cashback rewards expire after 3 years. I see this as a major drawback because for example, if you've earned $5 in cashback and a better cashback card comes along, you either have to keep using this card until you reach the $25 minimum redemption or lose your $5 earned cashback if you don't intend to use this card after 3 years.