Credit Cards
U.S. Bank Cash+® Secured Visa® Card review
Seeking a rewards card with exceptional value? Look no further than our U.S. Bank Cash+® Visa Signature® Card review! This card offers impressive rewards, including a sign-up bonus and cash back on everyday purchases.
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Customize your rewards with the U.S. Bank Cash+® Secured Visa® Card!
Discover why the U.S. Bank Cash+® Secured Visa® Card is a top choice for maximizing rewards in this review. With its cash back feature and secured credit card benefits, this card is truly exceptional!
- Credit Score: No credit score is required as this is a secured credit card
- Annual Fee: No annual fee
- Intro offer: No welcome bonus
- Rewards: Earn 5% cash back on up to $2,000 in quarterly purchases from a selection of 12 categories. Get 2% cash back in one “quotidian” category of your choice. Enjoy a bonus of 5% cash back when reserving prepaid airfare, hotels, or car rentals directly through the U.S. Bank Rewards Center. Earn 1% cash back on eligible purchases.
- APRs: 29.24%
- Other Fees: 3% Foreign Transaction Fee and 5% Cash Advance Fee
For ongoing benefits, enjoy unlimited 2% cash back on one quarterly bonus category and 5% cash back on two other categories each quarter. These rewards can add up quickly!
Keep in mind that the available bonus categories may change during setup, so being prepared with extra effort can help maximize your card usage experience. Read our U.S. Bank Cash+® Secured Visa® Card review for more details.
U.S. Bank Cash+® Secured Visa® Card: What to Expect?
The U.S. Bank Cash+® Secured Visa® Card is an excellent choice for maximizing rewards on everyday purchases. Earn cash back based on your purchase categories, with up to 5% cash back on prepaid air, hotel, and car reservations booked directly through the U.S. Bank Rewards Center. With a security deposit starting at $300, you can easily obtain this credit card.
Keep reading our U.S. Bank Cash+® Visa Signature® Card review to explore the pros and cons.
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Pros:
- No membership fees
- 0% intro APR on purchases and balance transfers
- High rewards rate
Cons:
- Rewards have a spending limit
- Balance transfer fee
- Foreign transaction fee
Eligibility Requirements
To qualify for the U.S. Bank Cash+® Secured Visa® Card, applicants must meet certain eligibility criteria that ensure responsible use and creditworthiness.
This card is specifically designed for individuals looking to build or rebuild their credit, making it an excellent option for those with limited or damaged credit history.
- Minimum Age Requirement: Applicants must be at least 18 years old (or the legal age in their state of residence).
- U.S. Residency: Must be a U.S. citizen or permanent resident with a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
- Security Deposit: A refundable deposit ranging from $300 to $5,000 is required. The deposit amount will determine the credit limit.
- No Recent Bankruptcies: Applicants should not have recent bankruptcies, defaults, or unsettled financial obligations that could negatively impact approval.
- Sufficient Income: A verifiable income source is necessary to demonstrate the ability to make monthly payments on time.
- Valid Checking or Savings Account: A U.S. bank account is required to fund the security deposit and manage payments.
Before applying, potential cardholders should ensure they meet all these criteria to increase their chances of approval.
How to Apply for the U.S. Bank Cash+® Secured Credit Card
Applying for the U.S. Bank Cash+® Secured Visa® Card is a straightforward process that can be completed online.
Before starting, applicants should have their personal and financial details ready, including bank account information to fund the required security deposit.
Below is a step-by-step guide on how to apply:
- Visit the U.S. Bank Website
- Go to the official U.S. Bank credit card page and find the Cash+® Secured Visa® Card section. Click on the “Apply Now” button.
- Fill Out the Application Form
- Enter your full name, date of birth, Social Security Number (SSN) or ITIN, and U.S. residential address.
- Provide contact details, including your phone number and email address.
- Provide Financial Information
- Enter details about your employment status, annual income, and monthly housing expenses (rent or mortgage payments).
- U.S. Bank will use this information to assess your ability to make monthly payments.
- Choose a Security Deposit Amount
- Select your deposit amount (between $300 and $5,000), which will determine your credit limit.
- Ensure you have sufficient funds available in your linked bank account for this transaction.
- Review and Submit the Application
- Carefully review all the entered details to avoid errors that could delay processing.
- Read the terms and conditions, then agree to them before submitting your application.
- Wait for Application Processing
- Once submitted, U.S. Bank will review your application. In some cases, applicants may receive an instant decision, while others might have to wait for additional verification.
- Receive Your Card and Activate It
- If approved, you will receive your U.S. Bank Cash+® Secured Visa® Card in the mail within 7-10 business days.
- Follow the instructions to activate your card and start using it to build your credit while earning cashback rewards.
By following these steps, applicants can efficiently complete the application process and begin their journey toward better financial health with a secured credit card.
What about a similar card?
If you have bad credit, finding a suitable credit card may seem challenging. However, there are options available specifically designed for people in your situation. Dive into this review of the OpenSky® Plus Secured Visa® Credit Card to discover more.
How to apply for the OpenSky® Plus Secured Visa®?
Discover how to apply for the OpenSky® Plus Secured Visa® Credit Card with our comprehensive step-by-step guide. Unlock access to exceptional features and benefits.
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