New US Bank Card Earns 6% Cash Back at Popular Merchants
U.S. Bank has revealed a new product that is expected to launch. It’s called the Shopper Cash Rewards™ Visa Signature® Card, and it earns up to 6% cash back. The highest earning is limited to select merchants, but there are 24 in total, including popular ones such as Amazon, Best Buy, Walmart and more. Let’s see the details of this card.
US Bank Shopper Cash Rewards Visa
Here are the earning rates for the new card:
- 6% cash back on combined eligible purchases each quarter with two retailers you choose ($1,500 limit)
- 3% cash back on eligible purchases each quarter in your choice of one everyday category, like wholesale clubs, gas and EV charging stations, or bills and home utilities ($1,500 limit)
- 1.5% cash back on all other eligible purchases
- 5.5% cash back on prepaid car and hotel reservations booked directly in the Rewards Center.
There are no limits on your 1.5% Cash Rewards earnings. During any calendar quarter in which you spend more than $1,500 combined at your two 6% retailers, you will earn 1.5% Cash Rewards for any additional spend at those retailers during that quarter. During any calendar quarter in which you spend more than $1,500 in your one 3% category, you will earn 1.5% Cash Rewards for any additional spend in that category during that quarter.
6% cash back retailers
- Ace Hardware
- Bed, Bath, & Beyond
- Best Buy
- Crate & Barrel
- Home Depot
- Pottery Barn
- Restoration Hardware
- Williams Sonoma
You must enroll each quarter into two retailers and one purchase category of your choice, or all net purchases (purchases minus returns or credits) will earn no more than 1.5% Cash back. Allow up to 3 business days for registration to take effect before you will be eligible to earn 3% Cash Rewards and 6% Cash Rewards.
Bonus and Annual Fee
There’s already a page for the card on the U.S. Bank website, but we still don’t have all the details. There’s no signup bonus or annual fee mentioned, but it’s possible that the new card will launch with a welcome bonus, and it could have an annual fee considering the earning rates.
The US Bank Shopper Cash Rewards Visa is launching soon, but no exact date has been announced yet. You can sign up to get notified when it’s time to apply.
The U.S. Bank Shopper Cash Rewards Visa Signature Card comes with quarterly categories where you can earn 6% cash back on up to $1,500 in spend, and a total of $6,000 per year. You get to choose two categories, and there are some great options such as Amazon, Walmart, Best Buy, Disney, Home Depot, Lowe’s and more.
You also get to choose one 3% category from wholesale clubs, gas and EV charging stations, or bills and home utilities. This is again limited to $1,500 limit per quarter.
Let us know what you think!
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Its too complicated when you can just buy the gift cards on category spending on other cards and like Tino shared no limits of any kind up to 50k ex Chase Ink
Though what do you expect fro a bank thats been opening up fake accounts for over ten years Wells Fargo style.I’m not sure I would want to do business with a bank like that.Even though none of them are saints!The card had credibility till you have to limit to two merchants.What a PITA
The cap of 1500 should have been enough
Current rumors/responses from customer service reps via fico forums:
Launches Oct 24
$95 AF, waived first year
$250 SUB for 2k spend
Probable foreign transaction fees
I suspected as much and appreciate your sharing what you know.
With the exception of probably Amazon, a 2% cash back card + buying discounted gift cards is far superior than this credit card, and there are no limits.