U.S. Bank Card to Offer 4% on All Purchases — If You Qualify
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
U.S. Bank is preparing to roll out a credit card that can pay as much as 4% cash back on every purchase for banking customers who meet eligibility requirements. Flat-rate cash back credit cards tend to top out at 2% on purchases, meaning this card could be twice as lucrative as alternatives — if you qualify.
» JOIN THE WAIT LIST for the new card at U.S. Bank's website here.
2% to 4% cash back
The U.S. Bank Smartly™ Visa Signature Card, which is currently in wait-list status, will pay a base rate of 2% on every purchase. Customers who have a Bank Smartly® Savings account and at least $5,000 in combined accounts with U.S. Bank can rack up a "Smartly Earning Bonus" on top of that rate:
If you have $5,000 to $49,999 in balances: You earn a 25% bonus on the rewards you earn, making your effective rewards rate 2.5% cash back.
If you have $50,000 to $99,999 in balances: You earn a 50% bonus on your rewards, making your effective rewards rate 3% cash back.
If you have $100,000 or more in balances: You earn a 100% bonus, making your effective rewards rate 4% cash back.
To qualify for those higher rates, a cardholder must have or open a Bank Smartly® Savings account with a minimum deposit of $25 and maintain the necessary combined balances in checking accounts, savings accounts, money market savings accounts, CDs, IRAs, U.S. Bancorp Investments and personal trust accounts. Business and commercial accounts don't qualify, and only primary cardholders' accounts are considered (not accounts owned by authorized users).
To determine bonus eligibility, the bank looks at your average daily combined balance for the preceding three months.
Rewards get full value when deposited
Rewards are earned as points. The base rate is 2 points per dollar, with the bonuses adding on 0.5 points, 1 point or 2 points per dollar. When you deposit your rewards into an eligible U.S. Bank deposit account, points are worth 1 cent apiece, giving you the full cash-back value of 2% to 4%. Other redemptions, including for statement credit, may result in a lower value per point.
There's no limit on the total amount of rewards you can earn, and rewards points don't expire unless there is no activity in the account for 12 billing cycles.
U.S. Bank also says the card will have no annual fee. You can get on the wait list here.
Find the right credit card for you.
Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.
