Review: US Bank Credit Cards

us-bank-credit-cardUS Bank offers a wide variety of credit cards for just about any situation and credit history. Below we offer a short profile / review of the US Bank credit card lineup:

  • The U.S. Bank Visa Platinum Card is your basic credit card for those who are seeking a low interest rate and don’t care about card rewards. It offers an interest rate as low as 10.24% (though they could approve you at a rate as high as 21.24% so be careful) and you get a 0% APR on purchases and balance transfers for the first 12 months. (A 3% fee applies on balance transfers, though.)
  • US Bank Cash 365 American Express Card – Straightforward reward card — you get 1.5% cash back on all card purchases, with no special spending categories to worry about. No annual fee.

  • The US Bank FlexPerks Travel Rewards Visa Signature Card offers points that you use toward travel rewards. You get 1 point per dollar on all purchases, and you get 2 points per dollar on the category in which you spend the most each month — the categories being gas, groceries, air travel — as well as 2 points per dollar on cell phone services. Points can be used for air travel, starting at 20,000 points for tickets up to $400. This card has a $49 annual fee, but that is waived for the first year.
  • The US Bank Cash+ Visa Signature Card is a cash back rewards card that gives you a 1% rebate on all purchases, plus extra rebates in certain categories — each quarter you get a 5% rebate in two spending categories of your choice (on the first $2000 in spending in those categories), plus a 2% rebate in one “everyday” spending category (like gas or groceries). No annual fee.
  • The US Bank College Visa is a student credit card that offers no frills but does help students start to establish a credit history, which is important down the road. The card’s interest rate could be anywhere from 12.24% to 21.24%, so it’s important to not carry a balance on the card, especially if you are approved on the higher end of that range.
  • The US Bank Secured Visa Card is for those who need to build or rebuild a credit history — for example, if you’ve never had a credit card and are having trouble getting accepted for one, or you have a poor credit history from past credit use. With a secured credit card, you put down a security deposit in order to protect the bank if you don’t make payments, but otherwise it works just like any other credit card, and if you use the card responsibly, you can improve your credit and get more favorable credit terms in the future. The US Bank Secured Card requires you to put money into a US Bank savings account, and your credit line is the same as the amount of money in the account. Remember that the savings account money is just a protection for the bank, you still must pay your card balance each month — it is not taken from the savings account. Annual fee of $29. See our Secured Credit Cards page if you are still confused about this type of card.