Are you in the market for a new card and considering the U.S. Bank Cash+® Secured Visa® Card? Before you apply for the card, you'll want to learn some key facts about the offer and how it compares to other cards on the market.
First, let's cover the basics. In reviewing the card, we rated it a 3.8 out of 5.0, which means that like many other cards, we found the U.S. Bank Cash+® Secured Visa® Card to have some solid benefits and some possible drawbacks.
This card is a great option for earning cash back rewards as you build credit through responsible use, such as paying your bill on time. You can choose from several spending categories to earn the highest cash back rate.
Next up, let's dive into the details you should consider before applying. Here's a rundown of the card's key features, rates, and terms:
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- Earn unlimited cash back while building credit for the future. Start with a security deposit of $300 to $5,000.
- Earn 5% cash back on your first $2,000 in combined eligible purchases each quarter in two categories you choose, 5% cash back on prepaid air, hotel, and car reservations booked directly in the Rewards Travel Center, 2% back on eligible purchases in your choice of one everyday category (like gas stations and EV charging stations, grocery stores and restaurants), and 1% back on all other eligible purchases.
- Use your card everywhere Visa is accepted. Your secured card works and looks like any other credit card.
- Choose your payment due date and enjoy zero fraud liability for unauthorized transactions.
- No annual fee
There's certainly a lot to like about the U.S. Bank Cash+® Secured Visa® Card. But just like with other cards we review, we stress that potential applicants should pay attention to this card's rates and fees as part of the bigger overall picture.
Let's dive deeper into those rates and fees, as they could make or break whether owning the card makes sense for you and your financial situation.
The interest rate, also known as APR (annual percentage rate), tells you what percentage of your balance you can expect to pay in interest annually if you carry a balance.
According to the issuer, the U.S. Bank Cash+® Secured Visa® Card currently charges the following interest rates on purchases and balance transfers:
- Purchase Intro: N/A
- Balance Transfer Intro: N/A
- Regular APR: 29.49% Variable
Another possible expense to consider is the annual fee, which is the amount a cardholder is required to pay each year for the privilege of owning a particular card.
Here's the annual fee for the U.S. Bank Cash+® Secured Visa® Card as listed by the issuer:
See site for details »
So far, we've covered the U.S. Bank Cash+® Secured Visa® Card in great detail, from its many benefits to its current rates and fees. But what are your odds of approval? What credit score is needed to become a cardholder?
According to the issuer, the current general credit history requirement for the card is:
If you feel you have the credit needed for approval and you're ready to apply, you can do so online on the issuer's secure website.
Keep in mind that rates and features may change, so if you like what the card is offering today, you may want to apply now to lock it in its current terms before it's too late.
We've discussed the many benefits, drawbacks, and requirements of the U.S. Bank Cash+® Secured Visa® Card, but how does it rank versus similar cards on the market? Below are all the category-specific ratings our team gives the card, along with the card's ranking within each category.
Quick hint: Want to see our best-reviewed cards in each category? Simply click the category name to see our top picks:
All told, our team's review of the U.S. Bank Cash+® Secured Visa® Card resulted in a rating of 3.8 out of 5.0, as the card features many pros and cons for a potential cardholder to consider. Ultimately, it's up to you to determine if the card's benefits outweigh its possible drawbacks. If you determine that it's a fit for your needs, you may want to apply soon, as terms throughout the industry change regularly.
We hope our guide has been helpful in learning all you need to know about the U.S. Bank Cash+® Secured Visa® Card. We wish you the very best on your financial journey!
Be sure to visit the official website for U.S. Bank Cash+® Secured Visa® Card to learn complete details about its features and terms. If you’re not quite sure if U.S. Bank Cash+® Secured Visa® Card is right for you, we encourage you to check out these guides to popular alternatives:
Before applying for the U.S. Bank Cash+® Secured Visa® Card offer or any other offer, be sure you understand all fees, interest rates, and terms so you can make the best decision for your own financial goals.