Megan Brooks
The US Bank Cash+ Visa Signature Card is a credit card that offers cash back rewards to its users. The cardholder gets to choose two categories every quarter, and they can earn 5% cash back on their first $2,000 in combined eligible purchases in those categories. The card also offers 2% cash back on one everyday category and 1% cash back on all other eligible purchases. While the card offers generous cash back rewards, there is some ambiguity regarding whether or not these rewards expire. Some sources claim that the rewards expire after a certain period of inactivity, while others suggest that the rewards do not expire as long as the account remains open. This discrepancy may be due to changes in the card's policies over time or differences in reward structures. It is always advisable to review the terms and conditions provided by the bank to understand the specifics of reward expiration and how to maximize the benefits of the card.
| Characteristics | Values |
|---|---|
| Expiry of cash rewards | Cashback expires at the end of the calendar month, either 12 or 36 months after they are earned. |
| Expiry after account closure | Cashback expires after account closure. |
| Expiry after inactivity | Cashback expires after 12 months of inactivity. |
| Minimum redemption | There is no minimum redemption for a statement credit. |
| Redemption methods | Cashback can be redeemed via the U.S. Bank Mobile App, or as a statement credit or a deposit to a U.S. Bank checking, savings or money market account. |
| Redemption frequency | There is no limit on the amount of cashback that can be earned. |
| Earning cashback | Earn at least 1% cashback for every dollar spent. |
| Bonus cashback | Bonus cashback is available for certain spending categories. |
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What You'll Learn
Cash rewards do not expire if the account remains open
Cash rewards on the US Bank Cash+ Visa Signature Card do not expire for the life of the account, as long as the account remains open. This means that cardholders can continue to accumulate cash rewards without worrying about an expiry date, as long as they do not close their account.
The US Bank Cash+ Visa Signature Card is a great option for those looking to maximise their cash-back rewards. Cardholders can earn up to 5% cash back on a variety of expense categories, with the ability to choose two categories every quarter. The card offers flexibility in earning cash rewards, with no rotating categories or sign-ups needed to earn them. Cardholders can also earn at least 1% cash back for every dollar spent with an eligible US Bank Cash Back Rewards credit card.
While the cash rewards do not expire if the account remains open, it is important to note that there are some conditions. Firstly, the card account must be in good standing to earn or redeem cash rewards. Additionally, US Bank has stated that any new points will expire if there is no reward, purchase, or balance activity on the account for 12 consecutive statement cycles, starting from April 14, 2025. This change does not affect points earned before this date.
The US Bank Cash+ Visa Signature Card offers a range of benefits, including a $200 rewards bonus after spending $1,000 in eligible purchases within the first 90 days of account opening. It also provides a 0% intro APR on purchases for the first 15 billing cycles, followed by a variable APR. Overall, the card is a good choice for those looking to maximise their cash-back rewards and benefit from the flexibility of no expiry on rewards as long as the account remains open.
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Rewards expire after 12 months of inactivity
US Bank Cash Plus cardholders will need to be mindful of the bank's policy on rewards expiry. According to an email sent out by US Bank in November 2024, any new points will expire if there is no reward, purchase, or balance activity on the account for 12 consecutive statement cycles, starting from April 14, 2025.
This means that US Bank Cash Plus rewards will expire after 12 months of inactivity. It's important to note that this change does not affect points earned before April 14, 2025. So, if you have existing rewards, they will remain valid as long as your account is open and in good standing.
To prevent your rewards from expiring, you need to ensure that there is some form of activity on your account at least once every 12 months. This can be in the form of a reward redemption, making a purchase with your card, or simply maintaining a balance. By keeping your account active, you can continue to accumulate and utilise your rewards without worrying about them expiring.
It's worth noting that US Bank Cash Plus cardholders can redeem their rewards in various ways. Cash Rewards can be redeemed for Real-Time Rewards, and the values and redemption minimums may vary over time and will be disclosed upon redemption. Cardholders can also redeem their Cash Rewards as a statement credit or deposit them into their US Bank savings, checking, or money market account.
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Rewards can be redeemed for statement credit
The US Bank Cash Plus card is a good option for those who want to maximise their cash-back rewards, with up to 5% cash back on a variety of expense categories. Cardholders can choose two categories every quarter to earn 5% cash back on, including utility bills, home utilities, cell phone providers, fast food, TV, internet and streaming services, gym/fitness centres, and more.
Additionally, the card offers 2% cash back on one everyday category, such as gas stations, EV charging stations, grocery stores, or restaurants, and 1% cash back on all other eligible purchases. There is no annual fee, and it offers a 0% intro APR on purchases for the first 15 billing cycles, followed by a variable APR of 19.49% to 29.74%.
It's important to note that the rewards will only remain active as long as your account is open and in good standing. Closing your account or allowing it to fall into bad standing will cause any unredeemed rewards to be forfeited.
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Rewards can be deposited into a US Bank account
US Bank Cash Rewards can be deposited into a US Bank account. The US Bank Cash+ Visa Signature Card is a good option for those looking for a 5% cash-back card with no annual fee and an intro APR for the first 15 months. The cardholder can choose two categories each quarter, and the 5% cash-back rate applies to the first $2,000 in combined purchases in those categories. Some of the eligible categories include utility bills, home utilities, cell phone providers, fast food, TV, internet and streaming services, and gym/fitness centres.
The card also offers 2% cash back on one everyday category, such as gas stations, EV charging stations, grocery stores, or restaurants, and 1% cash back on all other eligible purchases. Additionally, cardholders can earn a $200 bonus when they spend $1,000 in eligible purchases within the first 90 days of account opening.
It's important to note that while the cash rewards do not expire as long as the account remains open, any new points will expire after 12 months of inactivity on the account, starting from April 14, 2025. This means that to keep rewards active, there must be some form of reward, purchase, or balance activity on the account within a 12-month period.
The US Bank Cash+ Visa Signature Card is a good choice for those looking to maximize their cash-back rewards and prefer cash-back rewards over travel rewards. The ability to choose bonus categories each quarter allows cardholders to align their rewards with their spending habits.
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Rewards can be redeemed via the US Bank Mobile App
The US Bank Cash Plus Visa Signature Card is a great option for those looking to earn cash-back rewards on a large range of regular expenses. The cardholder gets to choose two categories every quarter, and there is no annual fee.
The US Bank Cash Plus card offers 5% cash back on the first $2,000 in combined eligible purchases each quarter on the two categories of your choice. You can also earn 5% cash back on prepaid air, hotel, and car reservations booked directly in the Rewards Center. Additionally, you can earn 2% cash back on one everyday category, such as gas stations, EV charging stations, grocery stores, or restaurants. For all other eligible purchases, you will earn 1% cash back.
The US Bank Mobile App allows you to conveniently redeem your cash rewards. You can choose to redeem your rewards as a statement credit or deposit them into your US Bank savings, checking, or money market account.
It is important to note that while cash-back rewards do not expire for the life of your account, any new points will expire after 12 months of inactivity if there is no reward, purchase, or balance activity on your account for 12 consecutive statement cycles, starting from April 14, 2025. This change does not affect points earned before this date.
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Frequently asked questions
US Bank Cash Plus Signature card cash rewards expire 36 months after the billing cycle in which they were earned.
US Bank Cash Plus Signature card cash rewards expire 36 months after the billing cycle in which they were earned. However, as of April 14, 2025, any new points will expire if there is no reward, purchase, or balance activity on your account for 12 consecutive statement cycles.
Although the rewards expire, there is no limit to the amount of cashback you can earn, and there is no minimum redemption for a statement credit.
US Bank Cash Plus Rewards can be redeemed for a statement credit or deposited into a US Bank checking, savings, or money market account.
Some other cards that offer similar cash rewards include the Citi Custom Cash Card, the Chase Freedom Flex Card, and the Discover it Cash Back Card.
