January 29, 2023

It’s nothing new for a cash-back bank card to mix bonus rewards on purchases with particular retailers and broader cash-back earnings in general-spending classes like gasoline, eating places, or journey. Two of my favourite retailer bank cards, the Amazon Prime Rewards Visa Signature Card and the Costco Anyplace Visa by Citi, do that very properly.

It’s a bit uncommon — although welcome — for a cash-back card to allow you to select from which retailers you earn bonus rewards. And much more uncommon for a similar card to allow you to select your bonus general-spending classes. 

The U.S. Bank Shopper Cash Rewards™ Visa Signature® Card does each, so it’s a bona fide breath of contemporary air within the cash-back bank card house. It’s not good — its flexibility provides complexity, and it has an annual charge after the primary yr. However in the event you’re not impressed by your different cash-back card choices, it’s positively price trying out.

What Is the U.S. Financial institution Shopper Money Rewards Visa Signature Card?

The U.S. Financial institution Shopper Money Rewards Visa Signature Card is a cash-back bank card that earns as much as 6% money again on eligible purchases.

You possibly can earn 6% again on purchases together with your selection of two collaborating retailers, 3% again on purchases in your selection of spending class, and 1.5% again on all different eligible purchases. Quarterly spending limits apply to the 6% and three% tiers. You possibly can replace your selection of retailer and spending class every quarter as properly.

The Shopper Money Rewards Card has a $0 introductory annual charge for the primary yr, then a $95 annual charge every year thereafter. It has a pleasant sign-up bonus for brand spanking new cardholders and another perks price mentioning too.


What Units the U.S. Financial institution Shopper Money Rewards Visa Signature Card Aside?

The Shopper Money Rewards Card stands out for a number of causes:

  • 6% Money-Again Tier Targeted on Particular Retailers. Not like most cash-back bank cards that aren’t cobranded (or sponsored by a specific service provider), the Shopper Money Rewards Card has a cash-back tier that pays solely in your selection of two collaborating retailers. For those who spend closely with any on the listing, you’ll be able to actually rack up the rewards right here.
  • 5.5% Money Again on Pay as you go Resort and Automobile Leases Booked By U.S. Financial institution. The Shopper Money Rewards Card has one of the best cash-back price for pay as you go journey of any main cash-back bank card. The one catch is you need to e-book by way of U.S. Financial institution’s journey portal.
  • Versatile Redemption Choices, Together with Prompt Money Again. The Shopper Money Rewards Card has the same old lineup of versatile cash-back redemption choices, plus a novelty: prompt redemption that instantly reduces your web out-of-pocket price for eligible purchases.

Key Options of the U.S. Financial institution Shopper Money Rewards Visa Signature Card

These are an important options of the Shopper Money Rewards Card: sign-up bonus, common cash-back program, credit score necessities, charges, and extra.

Signal-up Bonus

Earn a one-time bonus price $250 after you spend $2,000 in eligible purchases inside the first 120 days of account opening. The qualifying spend interval stretches a bit longer than most different cash-back playing cards — 4 months as a substitute of three months.

Incomes Money Again

The Shopper Money Rewards Card has a multitiered (and admittedly advanced) cash-back program. 

6% Money-Again Tier

First, you earn 6% money again on the primary $1,500 in mixed eligible purchases every quarter with two retailers of your selecting. Taking part retailers embrace (however aren’t restricted to):

  • Apple
  • Amazon.com
  • Finest Purchase
  • Chewy.com
  • Disney
  • Residence Depot
  • Ikea
  • Kohl’s
  • Lowe’s
  • Macy’s
  • Restoration {Hardware}
  • Goal
  • Walmart
  • Wayfair

U.S. Financial institution has a persuasive graphic exhibiting how purchases with varied retailers in its 6% cash-back tier evaluate towards these retailers’ retailer bank cards. Ignored is the truth that most retailers’ retailer bank cards don’t cap rewards potential, because the Shopper Rewards Card does:

U.s. Bank Shopper Cash Rewards Card Comparison

You possibly can change your chosen retailers every quarter if you want. You should activate your bonus cash-back earnings every quarter in any case, in order that’s a great alternative to verify your previous picks nonetheless be just right for you or replace accordingly.

3% Money-Again Tier

Subsequent, you earn 3% money again on purchases in your selection of general-spending class, reminiscent of fuel and EV charging stations, utilities, and wholesale golf equipment. You possibly can select a single class every quarter and should activate to obtain 3% money again.

As with the 6% tier, bonus cash-back eligibility tops out at $1,500 in class spending every quarter.

Even with the cap, the one-two punch of the three% and 6% tiers affords wonderful annual cash-back incomes potential. Utilizing U.S. Financial institution’s cash-back calculator, we see most potential 3% and 6% tier earnings of $540: $360 at 6% and $180 at 3%. Add within the one-time welcome bonus and also you’re $790 in complete first-year earnings earlier than you spend a dime within the 1.5% and 5.5% tiers.

U.s. Bank Shopper Cash Rewards Cash Back Bonus Only Example

5.5% Money-Again Tier

It is a mini-tier that features solely pay as you go resort and automotive rental bookings made by way of the U.S. Financial institution Reward Middle. To earn 5.5% money again on these purchases, you must seek for, e-book, and pay for eligible journey purchases there — indirectly with the resort or automotive rental firm, nor with some other third-party journey reserving engine.

1.5% Money-Again Tier

All different eligible purchases earn limitless 1.5% money again. This contains purchases above the quarterly spend caps within the 3% and 6% tiers, and purchases that may usually qualify for these tiers however don’t since you didn’t activate that quarter.

Turning again to U.S. Financial institution’s cash-back calculator, see how a modest annual spend of $12,000 within the 1.5% catch-all tier and $2,400 within the hotels-and-cars tier add up if we proceed to max out the three% and 6% tier spends:

U.s. Bank Shopper Cash Rewards Cash Back Balanced Spending Example

Redeeming Money Again

You possibly can redeem amassed money again for assertion credit, reward or rewards playing cards, and deposits to a linked U.S. Checking account. Fairly customary for a cash-back bank card

However essentially the most handy choice will not be customary: Actual-Time Rewards, a particular U.S. Financial institution characteristic that immediately redeems money again on purchases as you make them. If you make a purchase order eligible for Actual-Time Rewards, you’ll obtain a textual content message asking if you wish to redeem towards it. Reply “REDEEM” and also you’re good to go. 

You should have sufficient rewards to cowl the total quantity of the acquisition, so Actual-Time Rewards is greatest for smaller transactions.

Essential Charges

This card has a $95 annual charge after the primary yr. Overseas transactions price 3% of the whole transaction quantity.

Credit score Required

U.S. Financial institution doesn’t present a particular minimal credit score rating for this card. It does say candidates want good or higher credit score to qualify. In case your credit score rating is beneath 720 or so, you could have hassle getting your software permitted.


Benefits of the U.S. Financial institution Shopper Money Rewards Visa Signature Card

These are one of the best arguments in favor of the Shopper Money Rewards Card. Determine for your self in the event that they outweigh the downsides.

  • A number of Alternatives to Earn Bonus Money Again on On a regular basis Spending. The Shopper Money Rewards Card has three foremost cash-back tiers and one mini-tier for pay as you go motels and automotive leases booked by way of U.S. Financial institution. And the three% and 6% tiers are customizable. Backside line: You possibly can fine-tune your cash-back expertise right here in a method that’s not attainable with most different playing cards.
  • 5.5% Money Again on Pay as you go Accommodations and Automobile Leases Booked By U.S. Financial institution. That is one of the best price on pay as you go journey purchases made by way of a serious bank card issuer’s on-line reserving portal. It’s higher than Chase, whose 5% return on pay as you go journey was beforehand the gold customary.
  • Good Baseline Money-Again Price (1.5%). This card’s baseline cash-back price is respectable at 1.5%. That’s higher than the 1% baseline many different playing cards supply.
  • Stable Welcome Provide. This card’s one-time welcome supply is stable too. With a reasonable early spend threshold and an additional month to get there, it needs to be life like for many new cardholders too.
  • Versatile Redemption Choices. The actual standout right here is Actual-Time Rewards, which helps you to redeem amassed rewards on the level of sale — in individual or on-line.

Disadvantages of the U.S. Financial institution Shopper Money Rewards Visa Signature Card

The Shopper Money Rewards Card does have a number of notable downsides.

  • Has a $95 Annual Payment After the First 12 months. The Shopper Money Rewards Card has a $0 introductory annual charge for the primary yr. Then the enjoyable ends, and also you pay $95 per yr shifting ahead. For those who max out the three% and 6% tiers (and even come shut), you’ll nonetheless come out forward, however the charge eats into your revenue nonetheless.
  • Rewards Program Is Sophisticated and Requires Some Work From Cardholders. The Shopper Money Rewards Card’s rewards program is extra sophisticated than the common cash-back card’s. It additionally requires handbook activation every quarter. If you would like a real set-it-and-forget-it rewards card, this ain’t it.
  • 6% Money-Again Class Has a Restricted Variety of Taking part Retailers. The saving grace is that a few of these collaborating retailers are among the many largest round: Walmart, Amazon, Finest Purchase, Goal, Residence Depot, Apple. Nonetheless, the restricted choice is a constraint.
  • No 0% APR Intro Provide. This card lacks a 0% APR intro supply for purchases or stability transfers. That’s a typical characteristic of different cash-back playing cards and a transparent draw back.

How the U.S. Financial institution Shopper Money Rewards Visa Signature Card Stacks Up

The Shopper Money Rewards Card is form of its personal factor, however it’s most just like different cash-back playing cards with rotating or customizable bonus classes. See the way it stacks as much as Financial institution of America’s customized money again providing: the Financial institution of America® Personalized Money Rewards Credit score Card.

Shopper Money Rewards Personalized Money Again
6% Money Again On as much as $1,500 in quarterly spend together with your selection of two retailers None
3% Money Again On as much as $1,500 in quarterly spend in your selection of 1 spending class On as much as $2,500 in quarterly spend in your selection of 1 spending class (cap shared with 2% classes)
2% Money Again None On as much as $2,500 in quarterly spend at warehouse golf equipment and grocery shops (cap shared with 3% classes)
1.5% Money Again All different eligible purchases None
1% Money Again None All different eligible purchases
0% Intro APR Promo None 15 months on purchases and stability transfers
Annual Payment $0 for the primary yr, then $95 $0

Different Alternate options to Think about

The Shopper Money Rewards Card has another shut opponents too. Look into these playing cards earlier than you apply:


Remaining Phrase

The U.S. Bank Shopper Cash Rewards™ Visa Signature® Card is essentially the most revolutionary cash-back bank card to hit the market in a while. I significantly love the concept of selecting which retailers you’ll earn 6% again with every quarter.

I’m not happy with all facets of the Shopper Money Rewards Card although. The handbook enrollment requirement feels low-cost alongside bank cards like Citi Customized Money, which robotically do the be just right for you every month or quarter. And the general complexity of the rewards program may be an excessive amount of for bank card novices to profit from.

However all in all, I’m bullish on the Shopper Money Rewards Card. Up to now, it stands alone, however let’s see if imitators crop up within the months and years to come back.