New US Bank Card Details Revealed
U.S. Bank announced today that it will launch the Shopper Cash Rewards™ Visa Signature® Card on October 24. Some of the card’s details were already revealed earlier, and now we have the full information including the annual fee, sign up bonus and a cool distinct feature.
This new product gives cardmembers up to 6% cash back on not one, but two of the nation’s top 24 retailers, including Amazon.com, Home Depot and Walmart. The U.S. Bank Shopper Cash Rewards™ Card also gives cardholders up to 3% cash back on their top choice between gas stations and EV charging stations, wholesale clubs such as Costco Wholesale® and Sam’s Clubs®, or bills and home utilities – plus 1.5% cash back on everything else. In addition, the card offers 5.5% cash back on hotels and car rentals listed and booked directly in the U.S. Bank Rewards Center.
Cardmembers can choose to keep or to change their two 6% retailers and their 3% category each quarter. Plus, they can stack all their everyday savings with hundreds of other exclusive U.S. Bank discounts viewable online.
Rewards can be redeemed anytime in the form of a cash back deposit in their U.S. Bank account, a statement credit, a U.S. Bank Rewards Card, or Merchant Gift Cards.
U.S. Bank is also piloting a version of the card plastic that includes innovative LED-powered technology that lights up the U.S. Bank logo during contactless transactions. The card with the LED feature will be available at no extra cost to select cardholders while supplies last. Customers who do not receive the LED version of the Shopper Cash Rewards Card will initially receive a standard plastic version but may be able to upgrade to the LED version in the future pending availability.
One of the new pieces of information that we learned today is the annual fee. The U.S. Bank Shopper Cash Rewards Card will have no annual fee in the first year and a $95 annual fee each year thereafter.
We also know what the offer will be for new applicants. For a limited time, U.S. Bank is offering new cardmembers a $250 bonus after they spend $2,000 in eligible purchases within the first 120 days of account opening. You can’t apply just yet, but you can join the waitlist to be notified when the card goes live in about a week.