US Bank Cash+® Visa® Secured Credit Card review
Looking for a secured credit card that can help you rebuild your credit score? Check out the U.S. Bank Cash+® Visa® Secured Credit Card, which comes with cash back rewards and no annual fee! Read our review below.
US Bank Cash+® Visa® Secured Credit Card: No annual fee and cash back rewards on purchases.
Did you know that one of the best ways to improve your credit score is by using a secured credit card? And with the U.S. Bank Cash+® Visa® Secured Credit Card, you can do much more than that. The card has no annual fee, provides 1% – 5% cash back on selected purchases, and is available for applicants with a bad score history.
Don’t let the mistakes of the past get in the way of your financial future. With this product, you’ll enjoy the purchasing power of a Visa card everywhere you go. By using the card responsibly, you’ll notice an increase in your score within months. Read on our full review to learn more about this product!
- Credit Score: You can apply even with a bad credit score.
- Annual Fee: There is no annual fee.
- Regular APR: This credit card has a 26.74% variable APR.
- Welcome bonus: There is no welcome bonus.
- Rewards: 1% – 5% cash back in eligible purchases.
U.S. Bank Cash+® Visa® Secured Credit Card: is it a good card?
The U.S. Bank Cash+ card requires a security deposit between $300 and $5,000. That deposit is refundable and will remain in a savings account accruing interests for as long as your account is active and in good standing. Your credit card limit is the same amount as said security deposit.
You can use your card anywhere in the world where Visa is accepted. There is a 5% cash back reward after spending $2,000 in combined purchases on two different categories. Not only that, but you also get 2% back on daily purchases like gas and groceries, and 1% back on all eligible purchases. You can redeem your earnings in statement credits, direct deposit or a U.S. Bank rewards card.
To help you repair your credit score, U.S. Bank reports all monthly payments to Equifax, Experian and TransUnion – the three major credit bureaus. By spending responsibly and paying your credit card bill when it’s due, the bank will automatically upgrade your card to the U.S. Bank Cash+® Visa Signature® Card. Upon upgrading the card, your security deposit is refunded to you.
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U.S. Bank Cash+® Visa® Secured Credit Card: should you get one?
The Cash+® Visa® Secured Credit Card is a great tool for people looking to rebuild or repair their credit scores. However, it can also be a powerful ally in reorganizing your finances and improving your spending habits. Even though there are many benefits to acquiring this card, you should know all the pros and cons before applying to it. See what they are below.
- There are no membership, monthly or annual fees;
- There’s a high rewards rate, with cash back varying from 1% to 5%;
- Reports all payments to the 3 major credit bureaus;
- U.S. Bank provides fraud protection and zero fraud liability;
- Easy account access via the bank’s mobile app;
- Cash back with bonus categories;
- Applicants with bad credit scores may be accepted.
- High APR of 26.74%;
- Spending caps on cash back rewards;
- No welcome bonus;
What is the required credit score?
Since this is a secured credit card that requires a security deposit for activation, people with a credit score ranging from 300 to 639 are welcome to apply. However, you will have to open an U.S. Bank savings account upon request.
If you need a product that will assist you on your journey to repair and rebuild your damaged score history, the U.S. Bank Cash+® Visa® Secured Credit Card is the perfect choice for you.
U.S. Bank Cash+® Visa® Secured Credit Card application
If you want to take the first step towards a better financial future, this credit card can help you get there. With no fees and cash back rewards, you’ll be able to improve your credit score in no time. To learn more about its easy application process, follow the link below!
About the author / Aline Barbosa
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