us bank cash plus 5 percent categories

Earn $200 Bonus Cash Back Rewards. after spending $500 on purchases in the first 90 days. Rotating Bonus Categories. U.S. Bank Cash+ Visa Signature Card The Chase Sapphire Reserve's $300 annual travel credit is a huge plus for a card with. Though the definitions vary, the commercial bank's reserves normally consist of cash held by the bank and stored physically in the bank vault (vault cash), plus.

Us bank cash plus 5 percent categories -

Best 5% Card

U.S. Bank Cash Plus (tie)

APR: 14% to 24%

Annual Fee: $0

Rewards: 5% on two cate­gories of your choice from a list of 12 on up to $2,000 in purchases per quarter; 2% on your choice of gas, drugstores, or groceries; 1% on everything else. Plus, once a year you receive a $25 bonus when you redeem $100 or more cash back

Why It’s a Winner: The hefty 5% take is made more valuable by the fact that you can choose categories where you spend the most. Options include your cell plan, gym, and restaurant tabs. Spend $300 a month in the categories, and you’ll get a payout of $180 a year.

Caveats: You can apply only at U.S. Bank branches. Also, you need to pick the categories every quarter. On groceries and gas you’ll do better with the AmEx Blue Cash Preferred.

Chase Freedom (tie)

APR: 0% on purchases and balance transfers for 15 months; 14% to 23% after

Annual Fee: $0

Sign-Up Bonus: $100 after spending $500 in the first three months

Rewards: 5% in categories that rotate quarterly, on up to $1,500 in purchases per quarter; 1% on everything else; a $25 bonus after you add an authorized user who makes a purchase within three months

Why It’s a Winner: While you can’t choose the 5% categories, they tend to be common expenses, like gas for half of this year and, for fall and winter, online retailers including Amazon and select department stores. A big signing bonus ices the cake.

Caveats: Your take in 5% categories maxes out at $300 a year. Since other spending gets 1%, use this only for 5% categories.

Источник: https://money.com/collection-post/best-5-percent-cash-back-credit-card/

10 Best Cash Back Credit Cards of 2021

Using a cash back card is easy and straight-forward. Though, not all cards that offer cash back are created equal. Below is a list of the 10 best cash back credit cards of 2021.

Some cards offer a flat rate of cash back, and others offer more complex and tiered rewards. You can compare and review the various cash back cards available to you below.

You can also apply for the best cash back cards here:

Learn More

What is a Cash Back Credit Card?

A cash back credit card is a very straight-forward type of credit card. You get rewarded whenever you use your card on a percentage basis.

Cash back credit cards are simple – they allow you to earn cash when you spend money with your card.

For example, lets say you have a cash back card that offers 1.5% cash back. If you spend $1,000 in one month, you will also earn $15 in cash rewards. It’s like buying everything at a slight discount.

Apply Now

10 Best Cash Back Credit Cards of 2021

1. Chase Freedom Unlimited

Chase Freedom Unlimited
  • Cash Back Rewards: 1.5% cash back on all purchases
  • Sign-Up Bonus: $200 after you spend $500 in the first three months
  • Annual Fee: $0
  • Foreign Transaction Fee: None
  • Other Perks: Free credit score, trip cancellation insurance, extended warranty

The Chase Freedom Unlimited card is the standard cash back card.

It’s a flat rate credit card that offers an unlimited 1.5% cash back rate on every purchase. Plus, the card evolved in 2020, and now offers better rewards in new categories, including travel, dining, drugstores, and grocery stores (not including Walmart or Target, on up to $12,000 in spending in your first year).

It also has a large welcome bonus considering it’s a no annual fee card. For these reasons, it tops the list of the best cash back credit cards.


2. Chase Freedom Flex

Chase Freedom Flex
  • Cash Back Rewards: 5% cash back on rotating categories that you must activate each quarter (up to $1,500 per quarter), 1% cash back on everything else
  • Sign-Up Bonus: $200 after you spend $500 in the first three months
  • Annual Fee: $0
  • Foreign Transaction Fee: 3%
  • Other Perks: Free credit score, trip cancellation insurance, extended warranty

The Chase Freedom Flex card is very similar to the Chase Freedom Unlimited in terms of the secondary perks it offers. However, they have one clear difference, and that’s their rewards structure.

The Chase Freedom Unlimited card offers 1.5% on every purchase, while the Chase Freedom Flex offers 1% on every purchase, but has a different category every quarter in which it offers 5% cash back. For example, the Chase Freedom Flex card might offer 5% at all gas stations one quarter, and 5% off at Amazon the next quarter.

The Chase Freedom Flex actually replaced the Chase Freedom card in 2020 within Chase’s credit card lineup. Now, similar to the Chase Freedom Unlimited Card, the Chase Freedom Flex offers better rewards in new categories, including travel, dining, drugstores, and grocery stores (not including Walmart or Target, on up to $12,000 in spending in your first year).


3. Citi Double Cash Card

Citi Double Cash Card - Best No Annual Fee Credit Cards
  • Cash Back Rewards: 2% cash back (1% cash back on general purchases, excluding gift cards, and 1% additional cash back as you pay off those purchases)
  • Sign-Up Bonus: None
  • Annual Fee: $0
  • Foreign Transaction Fee: 3%
  • Other Perks: Purchase protection, free concierge service

The Citi Double Cash Card has one of the highest cash back rates among no annual fee credit cards currently available. This makes it a great option to use in combination with a rotating rewards card to maximize your cash back earnings. For example, combining it with the Chase Freedom Flex card above, you could earn 5% back on rotating categories and 2% back on everything else (instead of 1%).

The offset to having such a high rewards rate is that this card does not offer any sign-up bonus.


4. Blue Cash Preferred® Card from American Express

Blue Cash Preferred Card from American Express
  • Cash Back Rewards: 6% cash back at U.S. supermarkets (up to $6,000 in purchases per year, then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations and on transit, 1% cash back on everything else (cash back in earned in the form of a statement credit)
  • Welcome Bonus: Up to $350 back – earn 20% back on Amazon.com purchases on the Card within the first 6 months of Card Membership, up to $200 back; plus, earn $150 back after you spend $3,000 in purchases on the Card within the first 6 months of Card Membership
  • Annual Fee: $95 (waived the first year)
  • Foreign Transaction Fee: None
  • Other Perks: Purchase protection, return protection, entertainment access
  • *terms apply; rates and fees

American Express is known for offering premium credit cards, and this cash back card is no different.

It’s one of the few cards that made the list of best cash back credit cards that has an annual fee, but with that annual fee it also offers high cash back rates. If you frequently shopping at grocery stores, you will be hard pressed to find a better rate than the 6% that this card offers.


5. Blue Cash Everyday® Card from American Express

Blue Cash Everyday Card from American Express
  • Cash Back Rewards: 3% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%), 2% cash back at U.S. gas stations and select U.S. department stores, 1% cash back on everything else (cash back in earned in the form of a statement credit)
  • Welcome Bonus: Up to $250 back – earn 20% back on Amazon.com purchases on the Card in the first 6 months of Card membership, up to $150 back; plus, earn $100 back after you spend $2,000 in purchases on your new Card within the first 6 months of card membership
  • Annual Fee: $0
  • Foreign Transaction Fee: 2.7%
  • Other Perks: Purchase protection
  • *terms apply; rates and fees

The Blue Cash Everyday® Card from American Express is a pared-back, basic version of the Blue Cash Preferred® Card from American Express.

It offers a similar cash back structure, with high rewards on U.S. supermarkets, but the cash back percentage is much smaller. To accompany the smaller rewards, this card does not charge an annual fee.


6. American Express Cash Magnet Card

American Express Cash Magnet Card
  • Cash Back Rewards: 1.5% cash back on all purchases
  • Welcome Bonus: $150 after you spend $1,000 in the first three months
  • Annual Fee: $0
  • Foreign Transaction Fee: 2.7%
  • Other Perks: purchase protection

The American Express Cash Magnet Card is the AMEX take on a standard cash back credit card.

Like the Chase Freedom Unlimited card, it’s a great option for anyone looking for their first cash back credit card.


7. Capital One Quicksilver Cash Rewards Credit Card

Capital One Quicksilver Cash Rewards Credit Card
  • Cash Back Rewards: 1.5% cash back on all purchases
  • Sign-Up Bonus: $150 after you spend $500 in the first three months
  • Annual Fee: $0
  • Foreign Transaction Fee: None
  • Other Perks: Purchase protection, travel accident insurance, concierge perks

The Capital One Quicksilver Cash Rewards Credit Card is another great, but standard cash back credit card option.

The 1.5% cash back rate is nothing new, but like with most Capital One cards, there are no foreign transaction fees. That makes this card a great travel companion if you are planning to go abroad.


8. Capital One Savor Cash Rewards Credit Card

Capital One SavorOne Card - Best No Annual Fee Credit Cards
  • Cash Back Rewards: 4% cash back on dining and entertainment, 2% cash back at grocery stores, 1% cash back on everything else
  • Sign-Up Bonus: $300 after you spend $3,000 in the first three months
  • Annual Fee: $95 (waived the first year)
  • Foreign Transaction Fee: None
  • Other Perks: Purchase protection, travel accident insurance, concierge perks

The Capital One Savor Cash Rewards Card is one of the most premium credit cards on the list of best cash back credit cards of 2021.

For those who spend a lot of money every month on dining out and entertainment, this is likely the best credit card for you. Plus, the annual fee is waived the first year and they offer a $300 welcome bonus, so if used responsibly, you’ll reap a lot of rewards from this card in year one.

Bonus: Check out the Capital One SavorOne Cash Rewards Credit Card for a no annual fee version of this credit card.


9. Bank of America Cash Rewards

Bank of America Cash Rewards
  • Cash Back Rewards: 3% cash back on a category of choice, 2% cash back on grocery store and wholesale club purchases, 1% cash back on everything else
  • Sign-Up Bonus: $200 after you spend $1,000 in the first three months
  • Annual Fee: $0
  • Foreign Transaction Fee: 3%
  • Other Perks: Purchase protection, free FICO score monitoring

The Bank of America Cash Rewards credit card is one of the most unique cards on the list. To start, you get to choose one category in which you earn 3% cash back. You can choose from gas, online shopping, dining, travel, drug stores, or home improvements and furnishings. The only catch is that you are limited to a $2,500 combined limit on the 2% and 3% categories each quarter.

Still, the ability to earn 3% cash back on a category of your choosing with a no annual fee cash back card is an amazing benefit.


10. U.S. Bank Cash Plus Visa Signature Card

U.S. Bank Cash Plus Visa Signature Card
  • Cash Back Rewards: 5% cash back on 2 categories of your choice, 2% cash back on your choice of one everyday category, 1% cash back on everything else
  • Sign-Up Bonus: $150 after you spend $500 in the first three months
  • Annual Fee: $0
  • Foreign Transaction Fee: 2-3%
  • Other Perks: Purchase protection, travel discounts

The U.S. Bank Cash+ Visa Signature Card is similar to the Bank of America Cash Rewards card in that you can choose categories to earn higher rewards in.

In this case, you choose two categories in which you earn 5% cash back in, and one category in which you earn 2% cash back. You make your selections every quarter, and are limited to $2,000 worth of purchases every quarter for these bonus categories.


Apply Today:

There are plenty of great cash back rewards cards available. Apply for your favorite, and start earning cash back today:

Apply Now

How do Cash Back Credit Cards Work?

Cash back credit cards are a simple rewards credit card.

Using a cash back credit card is like buying everything on sale – you get a discount off everything you purchase.

Generally, there are two major steps to how a cash back credit card works:

  1. You earn cash back
  2. You redeem cash back

Step 1: You earn cash back every time you make a purchase. For example, if you have the Chase Freedom Unlimited Card, you will earn 1.5% on every purchase you make. If you buy a $50 sweater, you earn $0.75. If you pay for a $100 dinner, you earn $1.50.

Step 2: At the end of the month, you receive all the cash back you earned the month prior. Depending on what card you have, you can then put your cash back towards your next bill, or redeem them in a different manner.

Types of Cash Back Credit Cards

There are four major types of cash back credit cards. Understanding these options can help ensure that you shop in the right card category for you.

1. Flat Rate

A flat rate credit card is the most basic cash back credit card. With these cards, you earn a flat rate on everything you purchase. Typically, this rate will be 1.5%, but some cards do offer more.

Flat Rate Card Examples:

  • Chase Freedom Unlimited: Earn 1.5% cash back on everything you purchase.
  • Citi Double Cash Card: Earn 2% cash back on everything you purchase. You earn 1% at the time of paying for the item or service, and the other 1% as you pay off your credit card balance.

2. Tiered

A tiered credit card or multi-tier credit card offers different cash back rates depending on what category you purchase. The most common example is offering 3-6% cash back on a specific category, like groceries, and then 1% cash back on everything else.

Tiered Card Examples:

  • Blue Cash Preferred® Card from American Express: Earn 6% cash back at U.S. supermarkets (up to $6,000 in purchases per year, then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations and on transit, and 1% cash back on everything else.
  • Blue Cash Everday Card from American Express: Earn 3% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%), 2% cash back at U.S. gas stations and select U.S. department stores, and 1% cash back on everything else.

3. Rotating Categories

Rotating category cards, or bonus category cards, are very similar to tiered cash back cards. In this case, you earn a higher cash back percentage, typically around 5%, in a category that rotates every quarter. Usually you’ll earn 1% cash back year round on everything not in that category.

It’s important to note that you need to opt in to the rotating category in order to get the higher rewards.

Rotating Category Card Examples:

  • Chase Freedom Flex: Earn 5% cash back on rotating categories that you must activate each quarter (up to $1,500 per quarter), and 1% cash back on everything else.

4. Customizable Categories

Last, there are some cards that allow you to customize categories in which you can earn higher rewards. The customization is a huge perk, and usually you can change your bonus category once a year, if not more frequently.

Customizeable Category Card Examples:

  • Bank of America Cash Rewards: Earn 3% cash back on a category of choice, 2% cash back on grocery store and wholesale club purchases, and 1% cash back on everything else.
  • U.S. Bank Cash Plus Visa Signature Card: Earn 5% cash back on 2 categories of your choice, 2% cash back on your choice of one everyday category, and 1% cash back on everything else.

How to Pick a Cash Back Credit Card

Choosing a cash back credit card is all about finding the right fit for you. There are a few factors that you should look for in order to properly compare and choose the best credit card.

Annual Fee

Most cash back credit cards have no annual fee, but not all of them.

Cards with annual fees typically have better rewards, and sometimes will even waive the fee in the first year.

Though, keep in mind, if a card has an annual fee, you either have to continue to pay it year after year, or cancel the card eventually and lose out on the credit history you build with it.

Cash Back Type

There are four different types of cash back cards:

  1. Flat Rate Cards
  2. Tiered Cards
  3. Rotating Category Cards
  4. Customizable Category Cards

It’s important to understand your spending and budget to help determine which type of card is best for you.

Secondary Perks

Credit cards usually offer secondary perks that don’t always have a direct monetary benefit – like cash back. Here is a list of other card benefits to consider:

  • Fraud Protection
  • Purchase Insurance
  • 24/7 Customer Service
  • Extended Warranties
  • Concierge Service
  • Travel Insurance
  • Airport Lounge Access
  • TSA Pre-Check Credit
  • Free Checked Bags When Flying
  • And More

Foreign Transaction Fee

If you will be using a cash back credit card abroad, you’ll want to ensure it does have not have any foreign transaction fee. If it does, you might get caught paying an additional 3% fee on everything you purchase.

Sign-up Bonus

A sign-up bonus, or welcome bonus, is a common offering from premium credit cards to attract new users. Most cash back credit cards offer a sign-up bonus, usually between $100 – $300. The catch is that you need to spend a certain amount of money in the first 2-3 months after opening the card in order to get it.

The sign-up bonuses are smaller than what you would see from some premium travel rewards cards, but a couple hundred dollars is definitely a nice perk to take advantage of if you can.

Cash Back Redemption Options

Most cash back cards offer similar redemption options:

  • Statement credit
  • Check
  • Bank deposit
  • Gift cards
  • Charitable donation

You should ensure that the card you choose has a redemption option that you want to use.

Regular APR

An annual percentage rate (APR) is the interest that you pay on any overdue balance on a card. Ideally, you will never have to deal with an APR if you pay your card back on time and in full every month.

However, if you do have to pay an APR, the lower it is, the better.

Keep in mind: Some cards do offer a 0% intro APR for new cardholders or with a balance transfer, which in some cases can come in handy.


Explore Your Cash Back Options and Apply:

Apply Now

How to Maximize Your Cash Back Credit Card

Getting a cash back credit card is a great first step, here’s what you can do to maximize your card rewards:

Use Your Card

A cash back credit card can only benefit you if you use it. It’s a much better option than using a debit card or cash, where you won’t get any rewards.

Just remember, only spend on your card what you can afford to pay. If you carry a balance and have to pay the high interest rates that most credit cards charge, you will lose out on any benefits that the card was providing.

Pay Your Card On Time

As mentioned, you need to pay your card back on time and in full every month.

Yes, most cash back credit cards offer amazing rewards and great secondary perks. However, these can quickly be cancelled out if you have to pay interest and late fees every month.

Use a Multiple Card Strategy

Using a multiple card strategy can be a great way to maximize rewards.

For example, if you pair a rotating category credit card with a flat rate credit card, you could earn 5% cash back in the category of the quarter and 1.5% to 2% back on everything else if you use the cards appropriately.

Just be sure you apply for credit cards wisely so that you don’t ding your credit score in the short term by signing up for too many cards.

Earn the Sign-up Bonus

Of course, if your card offers a sign-up bonus you should do what you can to earn it. Typically, these sign-up bonuses come with a caveat of needing to spend anywhere from $500 to $3,000 in a two or three month period after account opening.

To be clear, that does not mean breaking your budget and going on a shopping spree to hit the sign-up bonus amount.

If you will not naturally obtain the bonus through your normal expenses, there are strategic things you can do to hit the bonus. Like pre-paying rent or gym memberships, or stocking up on dry goods next time your at the grocery store.

Again, you want to ensure you can pay back whatever you charge on the card in full at the end of the month.

Avoid Fees

Last but not least, you should avoid fees.

Whether it’s the APR, late fees, or foreign transaction fees, keeping these costs to a minimum will help ensure you maximize your card benefits.


Learn More About Credit Card Benefits:

More Benefits

Ways to Redeem Your Cash Back

Cash back credit cards are the simplest type of rewards card when it comes to redeeming benefits.

Unlike like general rewards cards and travel rewards cards, where transferring points to maximize their value can seem like a full-time job, redeeming your cash back is easy.

Here are the common options you have when redeeming cash back rewards:

  • Receive a statement credit
  • Have a check sent in the mail
  • Deposit to a checking or savings account
  • Redeem as gift cards
  • Charitable donation
  • Convert to points
  • Use when shopping online (i.e. with Amazon)

Not all options above are supported by all cash back cards. Check a card’s redemption options before applying.

Are Cash Back Credit Cards Worth It: Pros and Cons

Is a cash back credit card right for you?

Below are some of the pros and cons of this type of credit card to help you decide if a cash back credit card is worth it.

Cash Back Credit Card Pros

Simple Rewards: The simple rewards structure that most cash back cards offer make them easy to use and maximize.

Sign-up Bonuses: The are usually small, but most cash back cards offer a sign-up bonus.

UsuallyNo Annual Fee: Most cash back cards do not charge an annual fee. This makes them a great option for someone’s first rewards credit card.

Builds Credit: Since most cash back cards don’t have an annual fee, they are good options to hold onto over a long period of time to build credit.

Check Your Credit Score: You can check your credit score for free with Credit Karma.

Cash Back Credit Card Cons

Limited Perks and Travel Benefits: Cash back credit cards are simple cards that don’t offer a ton of secondary perks that you might find on premium travel cards.

Need a Good Credit Score: Most cash back credit cards require a good credit score in order to get approved.

Penalized with Monthly Balance: Like most credit cards, if you carry a balance on a cash back credit card, you will get penalized.

Cash Back Credit Cards Frequently Asked Questions (FAQ)

Question: How do cash back credit cards work?

Cash back credit cards reward you on a percentage basis every time you use them. For example, they will give you 1.5% cash back on every purchase, and you can redeem this cash back in a variety of ways. Note, some cards vary their cash back rewards depending on what category you spend in.

Question: Do cash back credit cards actually give you cash?

You won’t literally get a bunch of dollar bills sent to your home by using a cash back card. Instead, you are given options on how to use the “cash back” that you earn, such as getting a statement credit off your next bill, or depositing the money to a bank account.

Question: What is the highest paying cash back credit card?

This depends on what card category you are looking into. Most flat rate cards offer 1.5% cash back, but some may go as high as 2% or 2.5%. When looking at category cards, it’s not uncommon to see cash rewards in the 5% or 6% range.

Question: Is cash from a cash back card taxable?

Generally speaking, most cash back rewards are viewed as a rebate or discount off a purchase, and not as income. If that is the case, you do not need to pay taxes on your cash back.

Question: What are other types of credit cards?

There are many types of credit cards besides cash back credit cards, the most common include: premium credit cards, travel credit cards, hotel credit cards, airline credit cards, no annual fee credit cards, student credit cards, and secured credit cards. Some of these categories do overlap.

Question: Which is better, cash back or points?

At a high level, cash back is much easier to manage compared to reward points. However, rewards points can sometime be more valuable than straight cash back.

Question: What are the best business credit cards?

There are many cash back business card offerings. Some popular ones include the Ink Business Cash Back Card, the Capital One Spark Cash for Business, and the American Express Blue Business Cash Card.

Final Word: 10 Best Cash Back Credit Cards of 2021

The best cash back credit cards offer great rewards, are easy-to-use, and don’t charge many fees. They are a good solution for most consumers to start getting rewarded on their everyday spending.

Apply today and get your own cash back credit card:

Apply Now

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Just Start Investing is a personal finance website that makes investing easy. Learn the simple strategies to start investing today, as well as ways to optimize your credit cards, banking, and budget. Just Start Investing has been featured on Business Insider, Forbes, and US News & World Report, among other major publications for its easy-to-follow writing.

Источник: https://www.juststartinvesting.com/best-cash-back-credit-cards/

U.S. Bank Cash+ Visa Signature Card Review: Choose Your Bonus

People with good to excellent credit looking for a cash rewards credit card without an annual fee can wring some value out of the U.S. Bank Cash+ Visa Card—as long as you don’t mind a little ongoing card maintenance. The card gives more control over how you earn rewards by letting you choose your own bonus categories, although the categories themselves are underwhelming. While there’s a limit to the rewards you can earn in the highest-earning tier, your other cash rewards are unlimited.

Pros
  • Easy-to-earn bonus for new cardholders

  • Choice of bonus rewards categories

  • High rewards cap for a 5% card

Cons
  • Category challenges

  • Foreign transaction fee

  • Quarterly registration required to earn the most rewards

Pros Explained

  • Easy-to-earn bonus for new cardholders: For a limited time, earn a $200 bonus after making $1,000 in eligible purchases within the first 120 days of account opening, which most cardholders will find the new cardholder bonus a breeze to earn.
  • Choice of bonus rewards categories: Other credit cards offering 5% cash back have bank-selected bonus categories rotating quarterly. Cash+ cardholders can choose two bonus rewards categories each quarter. You can also choose your 2% cash-back category from three popular options. 
  • High rewards cap for a 5% card: Competing 5% no-annual-fee cards cap rewards at $1,500, but you can use this card until you hit $2,000. And there’s no cap at all for the 2% back category you choose quarterly.

Cons Explained

  • Category challenges: Earning 5% back is great, but eligible purchase categories are limited. If you frequently shop online from many retailers, at wholesale clubs, at drug stores, or home improvement stores, or spend a lot on travel or entertainment (other than movie theaters), this card won’t reward you for those popular categories. As well, choosing between groceries, restaurants, or gas for your 2% category may be difficult as these tend to be common, high-spend categories for most people. 
  • Foreign transaction fee: This isn't the best card to use for international purchases. With its foreign transaction fee, you'll pay up to 3% on purchases made in a currency other than U.S. dollars and 2% on purchases made in U.S. dollars.
  • Quarterly registration window required: While you do get the flexibility to choose your cash-back categories, you have to sign up by the deadline to earn bonus rewards. Otherwise, purchases in bonus categories will only earn 1% back instead of 2% or 5%.

Bonus for New Cardholders

For a limited time, earn a $200 bonus after making $1,000 in eligible purchases within the first 120 days of account opening. This is a good sign-up bonus offer for a card without an annual fee, and the low minimum spend requirement will allow most people to earn the bonus within the first few weeks of opening the account.

Earning Rewards

The U.S. Bank Cash+ Visa Signature Card lets you earn 5% cash back (which U.S. Bank calls “Rebates”) on your first combined $2,000 in two categories you choose each quarter. You can also earn unlimited 2% back on purchases at some gas stations, grocery stores, or restaurants—you choose which. Finally, earn 1% back on all your other purchases.

To give you an idea of available choices, here are the 5% Cash+ categories for January through March 2021: 

  • TV, internet, streaming services 
  • Home utilities 
  • Ground transportation excluding parking-related fees 
  • Certain clothing stores
  • Cellphone providers 
  • Electronics stores 
  • Membership fees at gyms and fitness centers 
  • Fast food 
  • Sporting goods stores 
  • Department stores 
  • Furniture stores
  • Movie theaters

Bonus categories have remained largely the same for the past few quarters, but could change at any time. 

Other credit cards with a 3% or 5% quarterly rotating rewards are dictated by the card issuer, but favor the usual high-earn-and-spend suspects: restaurants, grocery stores, online shopping, and more.

If you’re looking for a lower-hassle commitment, know that a 1.5% flat-rate card could earn you significantly less. However, a card that gives 2% back without caps in total may be a better deal, with less hassle. Based on our calculations and BLS data, this is what your cash back might look like, annually:

Potential Cash+ Card Earnings
Category Annual Spend% BackU.S. Bank Cash+  Amount Back
Clothing Stores  $1,8835% $94.15
Ground Transportation  $1,0005%$50.00
Grocery Stores  $4,4432%$88.86
Everything Else$16,9671%$169.67
Total: $24,293$402.68

With a 1.5% back card, you’d earn $364 a year, and with a 2% back card, $485 a year—and you won’t have to do all your clothing shopping from a limited selection of stores, or manage categories.

Many US Bank Cash+ Visa Signature Card categories have exclusions, so review the guidelines carefully. For example, you can’t get cash back from Walmart, Costco, and Target purchases. You can purchase clothing at Sears, but can’t buy furniture from Sears, nor can you buy online from Sears.com.

Redeeming Rewards

The card comes with a few choices for redeeming your rewards. Options include a statement credit; direct deposit into your U.S. Bank checking, savings, or money market account; or adding to a rewards debit card.

It’s unusual for rewards to expire, but U.S. Bank rewards expire 36 months after they were earned. Use them as they accumulate versus waiting too long. 

There’s no minimum redemption requirement for a statement credit or direct deposit. However, if you opt to redeem your cash back as a U.S. Bank Rewards Visa debit card, there’s a $20 minimum redemption requirement and you must redeem rewards in $5 increments.

How to Get the Most Out of This Card

Consider your upcoming spending when you’re selecting your 5% bonus categories. To max out spending in the 5% categories, you’ll need to spend $2,000 in the two categories each quarter, which breaks down to $666.67 in monthly spending. For example, you may choose electronics stores if you’re doing a lot of fourth-quarter holiday shopping. 

Based on the available 5% cash back categories, and the two-category limit, reaching the $2,000 spending cap each quarter may be a challenge for many cardholders. Don’t be tempted to overspend in order to earn the maximum cash back.

Consider pairing this card with one that consistently earns in a category that could otherwise be neglected due to category choice, or won’t earn more than 1% in any case.

Set a calendar reminder or U.S. Bank text reminder for the bonus category selection window. Visit your account online or call customer service at least five days before each quarter starts so you have the full quarter to max out your spending. You can choose your rewards up to 45 days before the quarter starts. 

You can still select bonus categories after the quarter has started, but only earn cash-back rewards at the 1% rate until your selection becomes effective. U.S. Bank advises that it can take up to three business days for the registration to take effect. 

Other Features 

  • Rental car collision insurance (secondary to your own policy) 
  • Travel and emergency hotline 
  • Roadside assistance hotline 

Customer Experience

U.S. Bank earns the rating of “below average” in J.D. Power’s 2020 Credit Card Satisfaction Study.

The card comes with a few noteworthy customer experience benefits including 24/7 U.S.-based customer service, free TransUnion FICO score, budgeting tools, cardmember agreement guide, credit wellness center, and spend analysis online reporting.

Security Features 

The U.S. Bank Cash+ Visa Signature Card comes with standard security features including zero fraud liability, security alerts, and EMV chip technology.

Fees to Watch out For

The U.S. Bank Cash+ Visa Signature Card has two unusual fees. The first is a 2% charge for foreign transactions made in U.S. dollars. The other is a 5% fee for a “cash equivalent advance,” which may likely include gambling chips and lottery ticket purchases, but may also be applied to Venmo and other peer-to-peer transactions using your credit card. 

Источник: https://www.thebalance.com/us-bank-cash-visa-signature-card-review-4781938
Apple Card and issuer Goldman Sachs ranked No. 1 in customer satisfaction among the Midsize Credit Card Issuers segment by J.D. Power.Learn more

The simplicity of Apple.
In a credit card.

With Apple Card, we completely reinvented the credit card. Your information lives on your iPhone, beautifully laid out and easy to understand. We eliminated fees and built tools to help you pay less interest, and you can apply in minutes to see if you are approved with no impact to your credit score. Advanced technologies like Face ID, Touch ID, and Apple Pay give you a new level of privacy and security.
And with every purchase you get Daily Cash back. Apple Card. It’s everything a credit card should be.

Created by Apple.
Powered by iPhone.

Built for iPhone

Apple Card lives on your iPhone, in the Wallet app. You can sign up in as little as a minute and start using it right away with Apple Pay. Your transactions, payments, and account details are all in one place, where only you can see them. You even make your payments right in the Wallet app — just select your amount, tap, and it’s done.

No Fees

We want to make it easier to pay down your balance, not harder. So Apple Card doesn’t have any fees. No annual, over-the-limit, foreign-transaction, or late fees. No fees. Really. And our goal is to provide interest rates that are among the lowest in the industry. Because your credit card should work for you, not against you.

The first credit card that actually encourages you to pay less interest.

Pay Less Interest

Most credit cards emphasize your minimum amount due. But when you pay only your minimum each month, it costs you a lot in interest over time. Apple Card is different. When you’re ready to make a payment, Apple Card estimates the interest you’ll wind up paying, based on any payment amount you choose. And it does that in real time, so you can make an informed decision about how much of your balance to pay down.

Unlimited
Daily Cash back.

Real cash you can use right away.

Unlimited Daily Cash

When you buy something using Apple Card, you get a percentage of your purchase back in Daily Cash. It’s real cash, so unlike rewards, it never expires or loses its value. Your cash is deposited right onto your Apple Cash card in the Wallet app — not a month from now, but every day. And there’s no limit to how much you can get. Use it to buy things in stores, on websites, and in apps. Make a payment on your Apple Card. Pay back a friend in Messages. Or send it straight to your bank account and watch it add up.

Get 3% Daily Cash back when you shop at Apple.

3% Daily Cash at Apple

Apple Card gives you unlimited 3% Daily Cash back on everything you buy at Apple — whether it’s a new Mac, an iPhone case, games from the App Store, or even a service like Apple Music or Apple TV+.

Get 2%
Daily Cash
back

when you use your iPhone
or Apple Watch to pay
with Apple Card.

2% Daily Cash

The best way to use Apple Card is with Apple Pay — the secure payment technology built into iPhone, Apple Watch, iPad, and Mac and accepted at 85 percent of merchants in the United States. Apple Pay is a safer way to pay that helps you avoid touching buttons or exchanging cash. And with every purchase you make using your Apple Card with Apple Pay, you get 2% Daily Cash back. No points to calculate. No limits or deadlines. Just real cash that’s ready to spend whenever, wherever, and however you want.

Shop with select merchants and get even more Daily Cash.

3% Daily Cash

Apple Card gives you unlimited 3% Daily Cash back on purchases you make at select merchants when you use Apple Card with Apple Pay.

  • Duane Reade
  • Exxon
  • Mobil
  • Nike
  • Panera Bread
  • T-Mobile
  • Uber
  • Uber Eats
  • Walgreens

Apple Card Family

Healthy finances.
Family style.

Apple Card Family

Apple Card Family brings all the great features and benefits of Apple Card to your entire family — whether that’s your immediate family, extended family, or whoever you call family. It allows two partners to merge credit lines to form a single co-owned account, manage that account together, and build credit as equals. Participants 18 and older can choose to start building their own credit history, and teens can learn better spending habits. And, family members receive Daily Cash back on their own purchases.

Learn more about Apple Card Family

Goodbye, plastic.
Hello, titanium.

Titanium Card

With laser etching and clean styling, Apple Card is designed with the same craftsmanship we bring to all our products. And it’s the only credit card made of titanium — a sustainable metal known for its beauty and durability. When you use the card, you’ll get 1% Daily Cash back on every purchase. Since Mastercard is our global payment network, you can use it all over the world. For apps and websites that don’t take Apple Pay yet, just enter the virtual card number stored securely in your Wallet app. And when you’re using Safari, it even autofills for you.

Privacy and Security

Your card.

Your data.

Your business.

Privacy and Security

Apple takes your privacy and security seriously. It’s not just a philosophy, it’s built into all our products. And Apple Card is no different. With advanced security technologies like Face ID, Touch ID, and unique transaction codes, Apple Card with Apple Pay is designed to make sure you’re the only one who can use it. The titanium card has no visible numbers. Not on the front. Not on the back. Which gives you a whole new level of security. And while Goldman Sachs uses your data to operate Apple Card, your transaction history and spending habits belong to you and you alone. Your data isn’t shared or sold to third parties for marketing or advertising.

Pay for your
new Apple products
over time,
interest‑free

when you choose to
check out with Apple Card Monthly Installments.

Apple Card Monthly Installments

You can buy a new Mac, iPhone, iPad, Apple Watch, and more with interest-free monthly payments on purchases at Apple. Just choose Apple Card Monthly Installments and then check out. Your installment automatically appears on your Apple Card statement alongside your everyday Apple Card purchases in the Wallet app. If you have an eligible device to trade in, you’ll pay even less per month. And you’ll get 3% Daily Cash back on the purchase price of each product, all up front. If you have Apple Card already, there’s no additional application. If you don’t, you can apply in as little as a minute during checkout, from the privacy of your iPhone.

Learn more about Apple Card Monthly Installments

Trusted partners for a different kind of credit card.

Partnerships

To create Apple Card, we needed an issuing bank and a global payment network. Apple Card is the first consumer credit card Goldman Sachs has issued, and they were open to doing things in a new way. And the strength of the Mastercard network means Apple Card is accepted all over the world.

Get started
with Apple Card.

Apply in minutes to see if you are approved with no impact to your credit score.

Apply now

Wallet

All your credit and debit cards,
transit cards, boarding passes,
and more. All in one place.

Learn more

Apple Pay

The safer way to make
secure,

contactless purchases
in stores and online.

Learn more

Apple Cash

Use it to send and receive

money in Messages and wherever

Apple Pay is accepted.

Learn more

Источник: https://www.apple.com/apple-card/

Reserve requirement

type of regulation on commercial banks

A reserve requirement is a central bank regulation that sets the minimum amount that a commercial bank must hold in liquid assets. This minimum amount, commonly referred to as the commercial bank's reserve, is generally determined by the central bank on the basis of a specified proportion of deposit liabilities of the bank. This rate is commonly referred to as the reserve ratio. Though the definitions vary, the commercial bank's reserves normally consist of cash held by the bank and stored physically in the bank vault (vault cash), plus the amount of the bank's balance in that bank's account with the central bank. A bank is at liberty to hold in reserve sums above this minimum requirement, commonly referred to as excess reserves. This measure is commonly referred to as the liquidity ratio.

The reserve ratio is sometimes used by a country’s monetary authority as a tool in monetary policy, to influence the country's money supply by limiting or expanding the amount of lending by the banks.[1] Monetary authorities increase the reserve requirement only after careful consideration because an abrupt change may cause liquidity problems for banks with low excess reserves; they generally prefer to use open market operations (buying and selling government-issued bonds) to implement their monetary policy. In the United States and many other countries (except Brazil, China, India, Russia), reserve requirements are generally not altered frequently in implementing a country's monetary policy because of the short-term disruptive effect on financial markets.

Policy objective[edit]

One of the critical functions of a country's central bank is to maintain public confidence in the banking system, because under the fractional-reserve banking system in operation in most countries worldwide banks are not expected to hold cash to cover all deposits liabilities in full. One of the mechanisms used by most central banks to further this objective is to set a reserve requirement to ensure that banks have, in normal circumstances, sufficient cash on hand in the event that large deposits are withdrawn, which may precipitate a bank run. The central bank in some jurisdictions, such as the European Union, does not require reserves to be held during the day, while in others, such as the United States, the central bank does not set a reserve requirement at all.

Bank deposits are usually of a relatively short-term duration, and may be “at call”, while loans made by banks tend to be longer-term,[2] resulting in a risk that customers may at any time collectively wish to withdraw cash out of their accounts in excess of the bank reserves. The reserves only provide liquidity to cover withdrawals within the normal pattern. Banks and the central bank expect that in normal circumstances only a proportion of deposits will be withdrawn at the same time, and that the reserves will be sufficient to meet the demand for cash. However, banks routinely find themselves in a shortfall situation or may experience an unexpected bank run, when depositors wish to withdraw more funds than the reserves held by the bank. In that event, the bank experiencing the liquidity shortfall may routinely borrow short-term funds in the interbank lending market from banks with a surplus. In exceptional situations, the central bank may provide funds to cover the short-term shortfall as lender of last resort.[3][4] When the bank liquidity problem exceeds the central bank’s lender of last resort resources, as happened during the global financial crisis of 2007-2008, the government may try to restore confidence in the banking system, for example, by providing government guarantees.

Effects on money supply[edit]

Conventional view[edit]

The conventional economic view is that reserve requirements can act as a tool of a country’s monetary policy. With higher reserve requirements, there would be less funds available to banks for lending. Under this view, the money multiplier compounds the effect of bank lending on the money supply. The multiplier effect on the money supply is governed by the following formulas:

{\displaystyle M_{1}={\mathit {MB}}\times m\,} : definitional relationship between monetary base MB (bank reserves plus currency held by the non-bank public) and the narrowly defined money supply, M_{1},
m={\frac {(1+c)}{(c+R)}}={\frac {1+{\frac {C}{D}}}{{\frac {C}{D}}+R}} : derived formula for the money multiplierm, the factor by which lending and re-lending leads M_{1} to be a multiple of the monetary base:

where notationally,

c= the currency ratio: the ratio of the public's holdings of currency (undeposited cash) to the public's holdings of demand deposits; and
R= the total reserve ratio (the ratio of legally required plus non-required reserve holdings of banks to demand deposit liabilities of banks).

Endogenous money view[edit]

Some economists dispute the conventional theory of the reserve requirement. Criticisms of the conventional theory are usually associated with theories of endogenous money.

Jaromir Benes and Michael Kumhof of the IMF Research Department report that the "deposit multiplier" of the undergraduate economics textbook, where monetary aggregates are created at the initiative of the central bank, through an initial injection of high-powered money[clarification needed] into the banking system that gets multiplied through bank lending, turns the actual operation of the monetary transmission mechanism on its head. Benes and Kumhof assert that in most cases where banks ask for replenishment of depleted reserves, the central bank obliges.[5] Under this view, reserves therefore impose no constraints, as the deposit multiplier is simply, in the words of Kydland and Prescott (1990), a myth. Under this theory, private banks almost fully control the money creation process.[5]

Required reserves[edit]

United States[edit]

The Board of Governors of the Federal Reserve System sets reserve requirements[6] (“liquidity ratio”) based on categories of deposit liabilities ("Net Transaction Accounts" or "NTAs") of depository institutions, such as commercial banks including U.S. branches of a foreign bank, savings and loan association, savings bank, and credit union. The deposit liability categories currently subject to reserve requirements are mainly checking accounts, with no reserve requirement on savings accounts and time deposit accounts of individuals.[7] The total amount of all NTAs held by customers with U.S. depository institutions, plus the U.S. paper currency and coin currency held by the nonbank public, is called M1.

As of March 2020, the reserve requirement for all deposit institutions was abolished, or more technically, fixed to 0% of eligible deposits. The Board previously set a zero reserve requirement for banks with eligible deposits up to $16 million, 3% for banks up to $122.3 million, and 10% thereafter. The removal of reserve requirements followed the Federal Reserve's shift to an "ample-reserves" system, in which the Federal Reserve Banks pay member banks interest on excess reserves held by them.[8][9]

Under the International Banking Act of 1978, the same reserve ratios apply to branches of foreign banks operating in the United States.[10][11]

China[edit]

The People's Bank of China uses changes in the reserve requirement as an inflation-fighting tool, and raised the reserve requirement ten times in 2007 and eleven times since the beginning of 2010.

Countries and districts without reserve requirements[edit]

Canada, the UK, New Zealand, Australia, Sweden and Hong Kong[12] have no reserve requirements.

This does not mean that banks can—even in theory—create money without limit. On the contrary, banks are constrained by capital requirements, which are arguably more important than reserve requirements even in countries that have reserve requirements.

A commercial bank's overnight reserves are not permitted to become negative. The central bank will step in to lend a bank funds if necessary so that this does not happen. Historically, a central bank might have run out of reserves to lend to banks with liquidity problems and so had to suspend redemptions, but this can no longer happen to modern central banks because of the end of the gold standard worldwide, which means that all nations use a fiat currency.

A zero reserve requirement cannot be explained by a theory that holds that monetary policy works by varying the quantity of money using the reserve requirement.

Even in the United States, which retained formal reserve requirements until 2020, the notion of controlling the money supply by targeting the quantity of base money fell out of favor many years ago, and now the pragmatic explanation of monetary policy refers to targeting the interest rate to control the broad money supply. (See also Regulation D (FRB).)

United Kingdom[edit]

In the United Kingdom, commercial banks are called clearing banks with direct access to the clearing system.

The Bank of England, the central bank for the United Kingdom, previously set a voluntary reserve ratio, and not a minimum reserve requirement. In theory, this meant that commercial banks could retain zero reserves. The average cash reserve ratio across the entire United Kingdom banking system, though, was higher during that period, at about 0.15% as of 1999[update].[13]

From 1971 to 1980, the commercial banks all agreed to a reserve ratio of 1.5%. In 1981 this requirement was abolished.[13]

From 1981 to 2009, each commercial bank set out its own monthly voluntary reserve target in a contract with the Bank of England. Both shortfalls and excesses of reserves relative to the commercial bank's own target over an averaging period of one day[13] would result in a charge, incentivising the commercial bank to stay near its target, a system known as reserves averaging.

Upon the parallel introduction of quantitative easing and interest on excess reserves in 2009, banks were no longer required to set out a target, and so were no longer penalised for holding excess reserves; indeed, they were proportionally compensated for holding all their reserves at the Bank Rate (the Bank of England now uses the same interest rate for its bank rate, its deposit rate and its interest rate target).[14] In the absence of an agreed target, the concept of excess reserves does not really apply to the Bank of England any longer, so it is technically incorrect to call its new policy "interest on excess reserves".

Canada[edit]

Canada abolished its reserve requirement in 1992.[13]: 347 

Australia[edit]

Australia abolished “statutory reserve deposits” in 1988, which were replaced with 1% non-callable deposits.[15]

Reserve requirements by country[edit]

The reserve ratios set in each country and district vary.[16] The following list is non-exhaustive:

See also[edit]

References[edit]

  1. ^"Monetary Policy Aims - Bank of Russia". 7 July 2001. Archived from the original on 7 July 2001.
  2. ^ Compare: Bhole, L. M. (1982). "Commercial Banks". Financial Institutions and Markets: Structure, Growth and Innovations (4 ed.). New Delhi: Tata McGraw-Hill Education (published 2004). pp. 8–35. ISBN . Retrieved 22 August 2020.
  3. ^Abel, Andrew; Bernanke, Ben (2005). "14". Macroeconomics (5th ed.). Pearson. pp. 522–532.
  4. ^Mankiw, N. Gregory (2002). "18". Macroeconomics (5th ed.). Worth. pp. 482–489.
  5. ^ abBenes, Jaromir; Kumhof, Michael (2012). "The Chicago Plan Revisited"(PDF). International Monetary Fund.
  6. ^See generally Regulation D, at 12 C.F.R. sec. 204.4 and sec. 204.5
  7. ^"eCFR – Code of Federal Regulations". www.ecfr.gov.
  8. ^"The Fed - Reserve Requirements". federalreserve.gov.
  9. ^The Fed Fires ‘The Big One’
  10. ^Ahorny, Joseph; Saunders, Anthony; Swary, Itzhak (1985). "The Effects of the International Banking Act on Domestic Bank Profitability and Risk". Journal of Money, Credit, and Banking. JSTOR. 17 (4): 493–506. doi:10.2307/1992444. JSTOR 1992444.
  11. ^"International Banking Act of 1978". Banking Law 101.
  12. ^ ab"Central banks' exit strategies from quantitative easing". Hong Kong Monetary Authority. Retrieved 13 August 2009.
  13. ^ abcdMonetary Economicdge. 2008.
  14. ^"Sterling Operations - Implementation of Monetary Policy". Bank of England. Retrieved 26 August 2013.
  15. ^ ab"Submission to Inquiry into the Australian Banking Industry", Reserve Bank of Australia, January 1991
  16. ^Lecture 8, Slide 4: "Central Banking and the Money Supply" from the presentation Monetary Macroeconomics by Dr. Pinar Yesin, University of Zurich, based on 2003 survey of CBC participants at the Study Center Gerzensee
  17. ^"Circular 3.632"(PDF). bcb.gov.br.
  18. ^"Ordinance No. 21 of the BNB on the Minimum Required Reserves Maintained with the Bulgarian National Bank by Banks"(PDF). Bulgarian National Bank.
  19. ^CNBC (29 February 2016). "China central bank cuts reserve requirement ratio". cnbc.com.
  20. ^Decision on Reserve Requirements, Croatian National Bank (in Croatian)
  21. ^Bank, European Central (14 December 2016). "How to calculate the minimum reserve requirements". European Central Bank.
  22. ^"Iceland Reserve Requirement Ratio Economic Indicators". www.ceicdata.com. Retrieved 9 January 2018.
  23. ^"RBI cuts repo rate by 75 bps to 4.40% to mitigate Covid-19 impact". The Economic Times. 27 March 2020.
  24. ^The Bank of Israel Law
  25. ^"Minimum Reserve Ratio". Bank of Latvia. Retrieved 29 December 2010.
  26. ^"Lebanon 'immune' to financial crisis". 5 December 2008 – via news.bbc.co.uk.
  27. ^"Nepal Ratra Bank". www.nrb.org.np.
  28. ^"Abolition of compulsory ratio requirements". Reserve Bank Bulletin. Vol. 48 no. 4. Reserve Bank of New Zealand. April 1985.
  29. ^Bamidele Samuel Adesoji (24 January 2020). "CBN raises CRR to 27.5%, holds MPR, other parameters constant". Nairametrics.com.
  30. ^"Narodowy Bank Polski - Internet Information Service". nbp.pl.
  31. ^"Banca Naţională a României - Reserve requirements". www.bnr.ro.
  32. ^Central bank of Russia Required reserve ratio on credit institutions' liabilities to non-resident has been raised to 4.0%
  33. ^"Reserve base en Kasreserve". Centrale Bank van Suriname. Retrieved 21 December 2009.
  34. ^Lotsberg, Kari (1994). "Riksbanken reducerar kassakraven för bankerna till noll"(PDF). Penning- & valutapolitik (in Swedish). No. 1994:2. pp. 45–47. Archived from the original(PDF) on 8 December 2015. Retrieved 1 December 2015.
  35. ^Liquidity ratio and liquid reserves of deposit money banks. Data released by Taiwan's central bank in October 2010.

External links[edit]

Источник: https://en.wikipedia.org/wiki/Reserve_requirement

: Us bank cash plus 5 percent categories

Us bank cash plus 5 percent categories
ANGELEE HARRIS OPUS BANK
BOBBY BERK AGE

watch the video

US Bank Cash Plus: $100 Bonus + 5.5% Cash Back us bank cash plus 5 percent categories

0 Replies to “Us bank cash plus 5 percent categories”

Leave a Reply

Your email address will not be published. Required fields are marked *