U.S. Bank Cash 365 American Express Card review | finder.com

U.S. Bank Cash 365™ American Express® Card review – November 2018

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A no-annual-fee card with unlimited cashback rewards and a long intro APR period on balance transfers.

30-second take

  • Get this card if you want to earn flat cash back on all purchases.
  • Pick something else if you want higher cash back or an intro APR period on purchases.
  • Apply with a good to excellent credit score of 680 or higher.
Product NameU.S. Bank Cash 365™ American Express® Card
Card TypeAmerican Express
Annual Fee$0
APR (Annual Percentage Rate) for Purchases15.99% to 24.99% variable
Introductory Balance Transfer APR 0% for the first 12 billing cycles (then 15.99% to 24.99% variable)
Balance Transfer Fee$5 or 3% of the transaction, whichever is greater
Cash Advance Rate25.99% variable
Foreign Transaction Fee3% of the transaction value
Cash Advance Fee$10 or 4% of the cash advance amount, whichever is greater
Interest Free PeriodUp to 24 days
Late Payment FeeUp to $38
Returned Payment FeeUp to $35
Additional Cardholder Fee$0
Minimum Age18 years of age
Welcome Offer$150 cash rewards bonus when you spend $500 in purchases in the first 90 days
Reward Value per Dollar1.5% cash back
Rewards Points ExpiryNever

The basics

This is a simple no-annual-fee credit card that offers unlimited cash back on all purchases. Additionally, you get a long intro APR period on balance transfers, which could be useful if you’re paying high interest on a non-U.S. Bank card. However, if you’re looking for an intro APR period on purchases, you’ll have to look elsewhere.

The perks

  • Welcome offer.

    Get a $150 cash rewards bonus when you spend $500 in purchases in the first 90 days of card membership. Similar cards require you to spend anywhere from $1,000 to $1,500 in the same period to earn a similarly sized bonus.

  • Cash back.

    Earn unlimited 1.5% cash back on all purchases. Your cash back doesn’t expire and you can redeem it as statement credit, have it directly deposited into your U.S. Bank checking or savings account or get it as a rewards card.

  • Intro APR period on balance transfers.

    Enjoy a 0% intro APR period for the first 12 billing cycles following your account opening for transfers made within the first 60 days of card membership. After that, a variable APR of 15.99% to 24.99% applies.

  • No annual fee.

    You get all these perks without paying an annual fee.

How much cash back rewards can I earn with the U.S. Bank Cash 365™ American Express® Card?

With an annual spending of $16,000 with this card, you would earn $240 per year. If you clear the signup bonus, your cash back for the first year would be $390.

You’ll also like …

  • Emergency assistance.

    Get medical, legal and financial help while you’re on vacation.

  • No penalty APR.

    If you make late or returned payments, you’ll only pay a fee. Other cards have a penalty APR of up to 30% that applies once you make a single returned or late payment. And what’s worse is that it can last indefinitely.

  • Price protection.

    American Express will partially reimburse you if you find a better price on an item after you’ve purchased it with your card.

  • Extended warranties and return protection.

    You also get warranties to protect qualified purchases of electronics, appliances and more. And, you can get reimbursed for an item if a merchant won’t accept it as a return within 90 days of purchase.

What to watch out for

  • Foreign transaction fees.

    For each transaction you make when you travel abroad, you’ll pay a 2% fee for transactions made in US dollars and a 3% fee for transactions in foreign currency.

  • Balance transfer limits.

    To take advantage of the intro APR period, complete your balance transfers within 60 days of card membership.

  • No intro APR on purchases.

    The card comes with an intro APR period on balance transfers. Unfortunately, your purchases start off with an APR of 15.99% to 24.99% variable right away.

  • Potentially high APR.

    If your credit history isn’t spectacular, you may be given an interest rate toward the higher end of 24.99% variable. With APRs averaging around 16%, you’d be getting a high APR.

  • Not widely accepted.

    Since this is an American Express card, it may not be as widely accepted as Visa or Mastercard.

Consider other cards if …

  • You want a similar card from another bank.

    The American Express Cash Magnet™ Card and the Chase Freedom Unlimited® offer the same unlimited cash back, but also have a longer intro APR period on both balance transfers and purchases.

    Alternatively, consider the PenFed Power Cash Rewards Visa Signature® Card with 1.5% cash back — or 2% back if you’re a PenFed Honors Advantage member.

  • You want higher cash back on specific categories.

    The Blue Cash Preferred® Card from American Express offers 6% cash back at US supermarkets on up to $6,000 per year and 1% after that, 3% back at US gas stations and select US department stores and 1% back on everything else.

    On the other hand, the Uber Visa Card offers 4% back on dining, 3% back on travel, 2% back on online purchases and Uber rides and 1% back on everything else.

  • You want a low APR.

    The Barclaycard Ring® Mastercard® offers one of the lowest APRs on purchases and balance transfers of 13.99% variable. Plus, you get a long intro APR period on balance transfers. If you usually carry a balance, this card could be a better choice.

Compare cash back credit cards

Name Product Filter values Annual Fee APR for Purchases (Purchase Rate) Intro APR for Balance Transfer
$95
14.99% to 25.99% variable
0% for the first 12 months (then 14.99% to 25.99% variable)
Earn $200 bonus cash back after you spend $1,000 on purchases in the first 3 months. Rates & Fees
$0
14.99% to 25.99% variable
0% for the first 15 months (then 14.99% to 25.99% variable)
Earn a $150 bonus statement credit after you spend $1,000 on purchases in the first 3 months. Rates & Fees
$0
14.99% to 25.99% variable
0% for the first 15 months (then 14.99% to 25.99% variable)
Earn up to $250 back. Earn $150 back after you spend $1,000 or more in purchases with your new card within the first 3 months of Card Membership. Plus, earn an additional $100 back after you spend an additional $6,500 in purchases within your first 12 months. You will receive the cash back in the form of a statement credit. Rates & Fees
$0
14.99%, 18.99% or 24.99% variable
0% for the first 15 months (then 14.99%, 18.99% or 24.99% variable)
Earn unlimited 1.5% cash rewards on purchases. See Rates and Fees.
$0 to $99
19.99% to 25.99% variable
Get 1% cash back rewards on eligible purchase, terms apply.

Compare up to 4 providers

How does a balance transfer work with this card?

Complete your transfers in the first 60 days of card membership to get the 0% intro APR period on balance transfers for the first 12 billing cycles following your account opening. After the intro period passes, or if you make your transfers after the first 60 days, a variable APR of 15.99% to 24.99% applies.

Each balance transfer will cost you either $5 or 3% of the transaction, whichever is greater. This makes a balance transfer of $3,000 cost $90 in fees.

What should I know before I apply?

You must be a US resident and at least 18 years old to apply for this card.

You’ll also need to provide personal information, such as:

  • Your full name and contact information.
  • Your residential status.
  • Your annual income and employment information.
  • Your Social Security number.

What credit score do I need?

Apply with a good to excellent credit score of 740 or higher. With a better score and lower credit utilization ratio, you’ll likely get a higher credit limit and a lower APR.

What do customers say about the U.S. Bank Cash 365™ American Express® Card?

U.S. Bank has been accredited with the Better Business Bureau since 1970 and earns a B rating. However, as of August 2018, it has nearly 2,000 complaints filed against it, with many customers citing poor customer support and issues using their cards when traveling. They claim when they left their home area, their credit card usage was considered fraudulent and was locked from further use.

As for the card itself, users are generally satisfied with the cashback rate and the intro period on balance transfers. But they claim the card usage is somewhat limited, as not all businesses accept American Express.

How to apply for the U.S. Bank Cash 365™ American Express® Card

  1. Go to the U.S. Bank website and find the U.S. Bank Cash 365™ American Express® Card, then click Apply now.
  2. Fill out the application form with all the required details.
  3. Review and submit your application.

How long will it take to get my U.S. Bank Cash 365™ American Express® Card?

Automated preapproval means that you’ll likely get a decision within a minute. If additional information is needed, U.S. Bank will send you a response within a few business days to a few weeks.

Once approved, expect your card to arrive in the mail within seven to 10 business days.

I got the card. Now what?

  • Download the U.S. Bank mobile app. Use it to pay your credit card bill each month. If you also bank with U.S. Bank, you can use the app to deposit checks, find a nearby ATM or contact customer support.
  • Avoid interest. After the close of each billing cycle, you have a grace period between 24 and 30 days to pay your balance. If you do, you won’t pay interest on your purchases.
  • Avoid fees. Late payments come with fees of up to $38, and returned payments cost up to $35. Balance transfers and cash advances also come with fees.
  • Contact customer service. If you have questions, contact U.S. Bank at 1-800-872-2657 or reach them online through your U.S. Bank mobile app or the U.S. Bank website.

How do I redeem rewards from U.S. Bank Cash 365™ American Express® Card?

You can redeem your cash back as a:

  • Statement credit
  • Reward card
  • Deposit made to your savings, checking or money market account at U.S. Bank.

Getting a reward card has a $20 minimum and is required that every card is in $5 increments. The other redemption options have no minimum.

Bottom line

If you’re looking for a simple no-annual-fee card, the U.S. Bank Cash 365™ American Express® Card could be a good option. You’ll earn unlimited cash back on all purchases, plus you’ll get a long intro APR period on balance transfers.

If you’re having second thoughts, feel free to check out other cashback or balance transfer credit cards and compare your options until you find the perfect one for you.

Frequently asked questions

Images: USBank.com

Kevin Joey Chen

Kevin Chen is a world-travelin', copy-writin', Game of Thrones-watchin' credit cards writer for finder.com. When he's not crunching the numbers on bonus points and comparing APRs, you can find him flying around the world in search of the perfect beer.

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