Great Card If
- You’re able to earn up to 4% cash-back on all purchases through combined balances in eligible U.S. Bank accounts.
- You want a card with no annual fee.
Don’t Get If
- You prefer a travel rewards card.
- You don’t qualify for the boosted cash-back rates.
U.S. Bank Smartly Card: Is It Worth It?
Prefer earning cash-back rewards over travel rewards? You’d be hard-pressed to find a cash-back rewards card better than the U.S. Bank Smartly card, depending on the amount of funds you hold in eligible U.S. Bank accounts.
This is because those with $100,000 or more in funds in eligible U.S. Bank accounts earn a massive 4% cash-back on all purchases with no limits to how much cash-back you can earn and a $0 annual fee to pay.
U.S. Bank Smartly Card Top Benefits
Like most no-annual-fee, cash-back rewards cards, the U.S. Bank Smartly card offers few benefits. The best one, by far, is that eligible cardholders can earn up to 4% cash back on all purchases.
Here is how it works:
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Assets With U.S. Bank | Cash-Back Earning Boost | Cash-Back Rate on All Purchases |
Less than $5,000 | None | 2% |
$5,000 to $49,999 | 25% | 2.5% |
$50,000 to $99,999 | 50% | 3% |
$100,000 or more | 100% | 4% |
In order to qualify for the boosted cash-back rates, you must:
- Have or open a U.S. Bank Smartly Savings account with a minimum opening deposit of $25.
- Have combined qualifying balances with U.S. Bank in an open consumer checking account, money market savings account, savings account, CDs or IRAs, U.S. Bancorp Investments, or personal trust account.
- Business accounts, commercial accounts, and trustee-only client relationships do not qualify.
Depending on how much you spend on your credit cards each month, this perk alone could be hugely lucrative for you, as most other cash-back rewards cards cap out at 2% back on all purchases. By qualifying for the 4% back category with the U.S. Bank Smartly card, you earn twice as much cash-back as you’d earn with competing 2% back cards.
Best Ways To Earn and Redeem Your Cash-Back Rewards
To earn as much cash-back as possible, use your U.S. Bank Smartly card for as many purchases as you can, especially if you qualify for the uncapped 4% cash-back on all purchases. Additionally, U.S. Bank gives cardholders access to its Rewards Center shopping deals, where you can earn even more cash-back at over 1,100 online stores.
Once you’re ready to redeem your cash-back, U.S. Bank allows you to do so directly into your U.S. Bank checking or savings account, as a statement credit, toward merchant gift cards, or in other ways.
Alternative Cards to the U.S. Bank Smartly Card
If you’re looking to earn even more cash-back on the items you spend the most on, the Bank of America Customized Cash Rewards card would be a good option.
The card earns 3% back in the category of your choice, including gas and EV charging stations; online shopping, including cable, internet, phone plans and streaming; dining; travel; drugstores and pharmacies; or home improvement and furnishings. Plus, it earns 2% cash-back at grocery stores and wholesale clubs.
However, similar to the U.S. Bank setup, Bank of America offers its Preferred Rewards program and allows you to boost your cash-back rate by up to 75%. This means you can earn up to 5.25% back on your top purchase category and 3.5% back at grocery stores and wholesale clubs, with a $0 annual fee. That said, these purchases are limited to the first $2,500 in combined purchases each quarter.
Another great $0-annual-fee, cash-back rewards card that allows you to optimize for the items you spend the most on is the Citi Custom Cash card. With it, you earn 5% cash-back on your top eligible spend category each billing cycle up to $500 spent.
Eligible categories include restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs, and live entertainment. Plus, you can switch categories from month to month to plan ahead for any upcoming large expenses.
The information regarding the U.S. Bank Smartly™ Visa Signature® card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Citi Custom Cash® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Bank of America® Customized Cash Rewards credit card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
