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U.S. Bank Cash+ Visa Secured Card Review: Big Cash Back Rewards and No Annual Fee

Review Updated
Brittney Myers
Author: Brittney Myers
Brittney Myers
Brittney Myers
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Brittney started her writing career in the world of science, putting her physics degree to good use. Her journey into finance started with building her personal credit, but soon grew into a borderline obsession with credit cards and travel rewards. For the last 7 years, she has enjoyed the ability to share her expertise with readers, as well as the opportunity to interview companies and individuals making an impact on our financial lives. She wholly believe most problems can be solved with the right research -- and a good spreadsheet -- and she specializes in translating complex financial topics into actionable advice to help educate and empower readers.

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Eric McWhinnie
Fact Checked: Eric McWhinnie
Eric McWhinnie
Eric McWhinnie

Eric McWhinnie has been writing and editing digital content since 2010. He specializes in personal finance and investing. He also holds a bachelor’s degree in Finance.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page.

OFFER STATUS

U.S. Bank Cash+® Visa® Secured Card is unavailable on Motley Fool Money. All information was collected independently and not reviewed for accuracy or provided by the credit card issuer. Some items may be out of date.

Cash back rewards from a secured credit card are uncommon enough, but the U.S. Bank Cash+® Visa® Secured Card takes it to a whole other level -- you earn up to 5% cash back in multiple categories, and pay no annual fee. You can build credit while building your rewards balance. Check out our U.S. Bank Cash+® Visa® Secured Card review for the full story.

Ratings Methodology

U.S. Bank Cash+® Visa® Secured Card

U.S. Bank Cash+® Visa® Secured Card
Rating image, 4.25 out of 5 stars.
4.25/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.25 out of 5 stars.
4.25/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: New/Rebuilding Under(579)
Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

New/Rebuilding Under(579)

Intro APR

Purchases: N/A

Balance Transfers: N/A

Regular APR

29.74%, variable

Rewards Circle with letter I in it. 5% cash back on your first $2,000 in combined eligible net purchases on two categories you choose. 2% cash back on your choice of one everyday category, like gas stations or grocery stores. 1% cash back on all other eligible purchases

1% - 5% cash back

Annual Fee

$0

Welcome Offer

N/A

  • A good secured credit card with the main perks being the lucrative and flexible cash back program.

    • Cash back purchase rewards
    • No annual fee
    • Can graduate to unsecured
    • Minimum deposit
    • No new cardholder offer
    • 5% cash back on your first $2,000 in combined eligible net purchases ($100 per quarter) on two categories you choose.
    • 2% cash back on your choice of one everyday category, like gas stations, restaurants, or grocery stores
    • 1% cash back on all other eligible purchases
    • No limit on total cash back earned
    • No annual fee

U.S. Bank Cash+® Visa® Secured Card is unavailable on Motley Fool Money. All information was collected independently and not reviewed for accuracy or provided by the credit card issuer. Some items may be out of date.

Credit card comparison

We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.

Offer Our Rating Welcome Offer Rewards Program APR Learn More
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for cash back on rotating categories 		Discover will match all the cash back you’ve earned at the end of your first year. 1% - 5% Cashback Circle with letter I in it. Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.

Intro:

Purchases: 0%, 15 months

Balance Transfers: 0%, 15 months

Regular: 18.49% - 27.49% Variable APR *Rates as of December 12, 2024.

Apply Now for Discover it® Cash Back

On Discover's Secure Website.

Rates & Fees External Link Icon

Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for cash rewards on everyday spending 		$200 cash rewards Circle with letter I in it. Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. 2% cash rewards Circle with letter I in it. Earn unlimited 2% cash rewards on purchases.

Intro: Circle with letter I in it. 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers

Purchases: 0% intro APR, 12 months from account opening

Balance Transfers: 0% intro APR, 12 months from account opening on qualifying balance transfers

Regular: 19.24%, 24.24%, or 29.24% Variable APR

Apply Now for Wells Fargo Active Cash® Card

On Wells Fargo's Secure Website.

Rates & Fees External Link Icon

Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for unlimited rewards on purchases 		25,000 points Circle with letter I in it. 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases 1.5 points per dollar Circle with letter I in it. Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire as long as your account remains open.

Intro: Circle with letter I in it. 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.49% - 28.49% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers.

Purchases: 0% Intro APR for 15 billing cycles for purchases

Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days

Regular: 18.49% - 28.49% (Variable)

Apply Now for Bank of America® Travel Rewards credit card

On Bank of America's Secure Website.

Full U.S. Bank Cash+ Visa Secured Card review

This credit card is a good fit for: People who want to earn cash back rewards while building credit.

Top perks

This card has more perks than your average secured credit card.

Earn up to 5% cash back rewards

The U.S. Bank Cash+® Visa® Secured Card earns great purchase rewards, putting most secured credit cards to shame. You earn a base rate of 1% cash back on eligible purchases. You also earn higher rewards on purchases in qualifying categories:

  • Earn 5% cash back in two categories of your choice. You can select two categories from options including home utilities or TV, internet, and streaming services.
  • Earn 2% cash back in one everyday category of your choice. Options include gas stations, grocery stores, and restaurants.

Bonus cash back rewards are limited to the first $2,000 in combined category purchases each quarter. New categories can be (but don't have to be) selected every three months.

You can redeem cash back rewards for statement credit. You need to accrue at least $25 in cash back to redeem your rewards.

RELATED: Best Gas and Groceries Credit Cards

Pay $0 annual fee

Despite its big rewards, the U.S. Bank Cash+® Visa® Secured Card has no annual fee. This means you don't pay a charge just to keep your account open. It also means you don't have to worry about paying annual fees while waiting to graduate to an unsecured card. Considering that some secured credit cards charge annual fees of $49 or more, this is a big bargain.

Graduate to an unsecured credit card

Secured credit cards are meant to build credit -- not to be a forever card. U.S. Bank Cash+® Visa® Secured Card graduates to an unsecured credit card once your credit improves. U.S. Bank upgrades your secured card automatically once you meet their qualifications. Your security deposit is refunded in full when your card is upgraded. Automatic upgrades are ideal compared to secured cards that force you to close an account to get rid of it.

What could be improved

Secured credit cards often have downsides, and this one is no exception.

Comparatively high minimum deposit requirement

The U.S. Bank Cash+® Visa® Secured Card has a similar drawback to other secured cards: the deposit. You make a cash security deposit to open and maintain your account. And at $300, this card has a higher minimum deposit requirement than many other secured credit cards. Some cards allow you to put down as little as $49.

At the other extreme, you can deposit up to $5,000 for a larger credit limit. This is a higher maximum than those of comparable cards.

Foreign transaction fee

This card charges a 3% fee for foreign transactions. These are any transactions in a foreign currency or that route through a foreign bank. In other words, if you travel abroad and use this card, you'll be paying an extra 3% fee for each purchase. If you travel a lot, consider looking for a card with no foreign transaction fees.

No welcome bonus or APR offer

Another major drawback to the U.S. Bank Cash+® Visa® Secured Card is that there are no new cardholder bonuses or introductory offers. You don't get a welcome bonus, no matter how much you spend. The card doesn't come with an intro APR offer, either, so you pay the go-to APR right from the start. This is pretty standard with secured cards, but it's worth pointing out.

RELATED: Best Sign-Up Bonus Credit Cards

Suggested credit score

The U.S. Bank Cash+® Visa® Secured Card doesn't have any minimum credit score or credit history requirements. That's because it's a secured credit card, designed for people who need to establish or build credit. You can get approved with zero credit history or a low credit score.

Read more: Best Starter Credit Cards for No Credit

U.S. Bank Cash+ Visa Secured Card is right for you if:

Consider the U.S. Bank Cash+® Visa® Secured Card if you need to establish or build credit but also want to earn cash back rewards. Cardholders can score up to 5% cash back on eligible purchases. And you don't pay an annual fee. The minimum deposit is higher than some other cards, and there isn't a welcome bonus. But it's a very competitive secured credit card option.

Our credit card methodology

At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how Motley Fool Money rates credit cards.

FAQs

  • Yes, you can get this card even if you have no credit history. It is designed to help users build credit.

  • Your credit limit will depend on your deposit. If you make the minimum $300 deposit, your credit limit will be $300. Eligible cardholders can deposit up to $5,000 to get a corresponding credit limit.