U.S. Bank Cash+ Secured Visa Credit Card

Are you curious to explore the extensive information about the U.S. Bank Cash+ Secured Visa Credit Card? Responsible Economy is here to provide you with a comprehensive overview of the key features of the U.S. Bank Cash+ Secured Visa Credit Card. This includes details about fees, interest rates, minimum deposit requirements, and all the essential information you need to know. Furthermore, we’re prepared to offer you an in-depth analysis that compares this card with other leading secured credit cards currently available in the market. Let’s get started!

Features

In this section, we will go through all the features one by one.

Fees

Fees are a significant factor in assessing financial products, and credit cards are no different. The U.S. Bank Cash+ Secured Visa Credit Card distinguishes itself by completely waiving annual maintenance fees, providing a notable advantage over many other secured credit cards.

We also show you other credit card fees.

FeesU.S. Bank Cash+ Secured Visa Card
Annual Fee$0
Balance TransferEither 3% of transfer amount or $5 minimum, whichever is greater.
Convenience Check Cash AdvanceEither 3% of advance amount or $5 minimum, whichever is greater.
Cash Advance ATMEither 5% of advance amount or $10 minimum, whichever is greater.
Cash AdvanceEither 5% of advance amount or $10 minimum, whichever is greater.
Cash Equivalent AdvanceEither 5% of advance amount or $10 minimum, whichever is greater.
Overdraft ProtectionNone
Foreign Transaction3% of each foreign transaction
U.S. Bank ExtendPay® FeesA monthly fee not to exceed 1.6% of the original principal amount in a U.S. Bank ExtendPay® Plan or U.S. Bank ExtendPay® Loan. This fixed fee is disclosed upon enrollment and charged each month that you owe the applicable ExtendPay balance.
Penalty Fees
Late PaymentUp to $41
Returned PaymentUp to $41
OverlimitNone
U.S. Bank Cash+ Secured Visa Card fees

APR

Opting to delay payments on the U.S. Bank Cash+ Secured Visa Credit Card results in a relatively higher interest rate. The Annual Percentage Rate (APR) for maintaining a balance on purchases is 29.99%, a factor worth careful consideration. It’s essential to note that while some cards may offer an initial 0% interest rate, the U.S. Bank Cash+ Secured Visa Credit Card does not fall under this category.

Cash back

Here’s the list of cash back and streaming benefits for the U.S. Bank Cash+ Secured Visa Card:

  • 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% cash back: On eligible purchases in your choice of one everyday category (like gas stations and EV charging stations, grocery stores, and restaurants).
  • 1% cash back: On all other eligible purchases.

Minimum deposit

To initiate an account with the U.S. Bank Cash+ Secured Visa Card, you’ll be required to provide a minimum security deposit of $300, with the option to deposit up to a maximum limit of $5000. The determination of your credit limit takes into consideration several factors, including your security deposit, income, and your demonstrated ability to effectively manage the designated credit line.

Welcome bonus

Unlike several credit cards that entice potential cardholders with enticing welcome bonuses, which can sometimes add up to $1,200 or more, it’s important to highlight that the U.S. Bank Cash+ Secured Visa Card does not offer any welcome bonus incentives.

Summary table

We have created a table summarizing all the features:

FeaturesU.S. Bank Cash+ Secured Visa Card
Fees$0
APR29.29% on balance for deferred payments
Cash BackUp to 5%
Initial Deposit$300-$5,000
Welcome Bonus$0
U.S. Bank Cash+ Secured Visa Card summary table

Comparison with the Best Secured Credit Cards

We have conducted a comparison of U.S. Bank Cash+ Secured Visa Card with the best secured credit cards available for application in the United States:

Capital One Quicksilver Secured Credit Card Logo
  • Fees: $0
  • Cashback: 1.5%
  • Welcome bonus: $0
  • Credit Score: No
Discover it Cash Back
  • Fees: $0
  • Cashback: 1%-5%
  • Welcome bonus: up to $300
  • Credit Score: 690-850
  • Fees: 0
  • Cashback: No
  • Welcome bonus: No
  • Credit Score: No
Bank of America customized cash rewards secured credit card
  • Fees: 0
  • Cashback: Up to 3%
  • Initial deposit: $200-$5,000
  • Welcome bonus: No
  • Credit Score: No
Opensky plus secured credit card
  • Fees: 0
  • Cashback: 0%
  • Initial deposit: $300
  • Welcome bonus: No
  • Credit Score: No
Bankamericard secured credit card
  • Fees: 0
  • Cashback: 0%
  • Initial deposit: $200-$5,000
  • Welcome bonus: No
  • Credit Score: No
OpenSky secured credit card
  • Fees: $35
  • Cashback: 0%
  • Initial deposit: $200
  • Welcome bonus: No
  • Credit Score: No
Bank of america unlimited cash rewards secured
  • Fees: 0
  • Cashback: 1,5%
  • Initial deposit: $200-$5,000
  • Welcome bonus: No
  • Credit Score: No
U.S. Bank Secured Visa credit card
  • Fees: 0
  • Cashback: 1,5%
  • Initial deposit: $200-$5,000
  • Welcome bonus: No
  • Credit Score: No

Pros and cons

Here’s a table summarizing the pros and cons of the U.S. Bank Cash+ Secured Visa Card:

AdvantagesDisadvantages
No annual maintenance feesNo welcome bonus incentives
Cash back rewards on eligible purchasesHigher interest rates when deferring payments
Choice of cash back categoriesNo initial 0% interest rate period
Opportunity to build credit responsiblyForeign transaction fees
Flexible credit limit based on deposit
U.S. Bank Cash+ Secured Visa Card Pros and cons

Requirements

To be eligible for the U.S. Bank Cash+ Secured Visa Card, you must meet the following minimum requirements:

  1. Reside in the United States: This card is exclusively available for individuals living within the United States.
  2. Age Requirement: You need to be at least 18 years old to be eligible to apply for this credit card.
  3. Employment Verification: Providing evidence of your employment is essential to demonstrate your capability to responsibly manage the credit card.
  4. Social Security Number: A valid Social Security Number is required for identity verification and evaluating your credit history.
  5. Minimum Deposit: You’ll need to make a minimum deposit of $300.

Frequent questions

Now we’re here to address any questions you might have about the U.S. Bank Cash+ Secured Visa Card:

Conclusion and opinions

After the conducted analysis, our opinion is that the U.S. Bank Cash+ Secured Visa Card is one of the top secured credit cards you can apply for in the United States. This is due to its lack of annual maintenance fees, offering cash back rewards of up to 5%, a minimum deposit requirement of $300 and a maximum of $5,000, and the security backing of U.S. Bank. On the downside, it doesn’t provide a welcome bonus or an introductory APR offer.

Interesting information about U.S. Bank

We have created a table with relevant information about U.S. Bank:

InformationDescription
Websitehttps://www.usbank.com/
Facebookhttps://www.facebook.com/usbank/
Twitterhttps://twitter.com/usbank
Instagramhttps://www.instagram.com/usbank/
Interesting information about U.S. Bank

Other U.S. Bank products

We’ve also provided a list of all the U.S. Bank products we have analyzed:

To conclude, you have more related content about secured credit cards:

Updated the day 1 September, 2023 by Alfredo Barandiarán

¿De cuánta utilidad te ha parecido este contenido?

Haz click en una estrella para votar

Promedio de puntuación 5 / 5. Número de votos 1

Se el primero en dejar un comentario!

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.