Cashback perks are designed for those who use their credit cards for everyday expenses. This feature is common in the US market and everywhere else but what makes one card different is the cashback percentage a cardholder can earn for every purchase. For instance, in the US Bank Cash+™ Visa Signature® Credit Card, cardholders can get up to 5% cash back for eligible purchases valid for each quarter. For other purchases, cardholders can only get 1 percent cash back, which is only minimal.
However, some people prefer to have this perk than get nothing at all. It’s safe to say that the US Bank Cash+™ Visa Signature® Credit Card is worth it because it has zero annual fees and has a $150 sign up bonus.
For a standard credit card with no annual fee, this card is a contender when it comes to significant features. For one, cardholders can have the flexibility to choose the category of cash back. Two, since this is powered by Visa, having this card gives cardholder access to Visa Signature benefits. This includes a myriad of discounts and freebies that can be redeemed anywhere in the world.
Eligibility and Application
Standard requirements needed to successfully get the US Bank Cash+™ Visa Signature® Credit Card includes being in the legal age of 18, a legal resident of the United States and having Social Security number. It also helps to be employed to ensure you have a source of income to pay for the borrowed amount.
Credit score also matters as it is part of the application criteria that the US Bank consider. Unless you have existing loans and mortgages that are significant in value, consider calling their hotline to see if you are eligible for this card.
Meanwhile, the credit limit is based on an applicant’s financial history and capacity to pay. The assumed credit limit can be $1,500 but can still increase or decrease.
Fees and Charges of the Card
For purchases, APR can go as high as 16.24%, depending on the market’s prime rate. To avoid interest, it is recommended to settle the borrowed amount within the 30-day grace period. Other fees and charges apply for a cash advance which costs $10, late payment fee for $39 and balance transfer for 3% of the total amount.