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New U.S. Bank Cash+ TM Visa Signature® Credit Card Lets Customers Choose Their Cash Back Categories

MINNEAPOLIS--(BUSINESS WIRE)--Jun. 27, 2012-- U.S. Bank has introduced the U.S. Bank Cash+™ Visa Signature® Card that allows cardholders to choose the categories in which they will earn 5 percent and 2 percent cash back. With choice of categories and no earning limit, cardholders are in control of receiving the most cash back because they must choose their categories every quarter, allowing them to maximize their earning potential. In addition, U.S. Bank cardholders receive a $25 bonus if they redeem $100 at one time.

“We know that earning cash back is attractive to customers,” said Cliff Cook, chief marketing officer for U.S. Bank Retail Payment Solutions. “The new U.S. Bank Cash+ Visa Signature Card gives cardholders complete control in selecting their cash back categories based upon their spending habits and rewards them generously for using their card to make those purchases.”

Each quarter, U.S. Bank Cash+ Visa Signature cardholders select two categories for which they can earn 5 percent cash back, including department stores, home improvement and electronic stores, restaurants and fast food establishments, airlines, hotels and car rentals. They also select a 2 percent “everyday spend” category, which includes gas stations, grocery stores and drug stores. For all other purchases made with the card, customers earn 1 percent cash back on the net total.

With no minimum redemption, cardholders can select how much they want to redeem as well as how they would like to receive it. Redemption choices include a statement credit or a deposit in a U.S. Bank checking, savings or Money Market account. Cardholders can also select a U.S. Bank Rewards Card with a $20 minimum cash back redemption.

Category choice adds up to more cash back for cardholders. For example, a U.S. Bank Cash+ Visa Signature cardholder would earn $100 in one quarter with the following category selection and spend:

  • $500 in home improvement stores (5 percent category);
  • $500 at restaurants (5 percent category);
  • $1,250 in groceries (2 percent category);
  • $2,500 in all other net purchases (1 percent category).

In addition, U.S. Bank cardholders receive a $25 bonus if they redeem $100 at one time.

To ensure cardholders are maximizing their rewards, U.S. Bank offers tools, such as the Cash+ calculator, to help cardholders determine how they can earn the most cash back as well as email/text messaging and Facebook reminders to ensure cardholders select their categories each quarter.

U.S. Bank has launched a Cash+ Facebook page giving fans an opportunity to enter to win up to $10,000 as well as stay on top of what is happening with the U.S. Bank Cash+ Visa Signature Card community and at U.S. Bank. The U.S. Bank Cash+ Visa Signature Card is available at all U.S. Bank branches and online at usbank.com/cashplus.

To celebrate the launch, U.S. Bank surprised the first qualified cardholder in each of the four time zones served by U.S. Bank with a $250 cash bonus added to his/her new U. S. Bank Cash+ account.

About U.S. Bank
U.S. Bancorp (NYSE: USB), with $341 billion in assets as of March 31, 2012, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,080 banking offices in 25 states and 5,061 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at usbank.com.

Source: U.S. Bancorp

Teri Charest, U.S. Bank Media Relations
(612) 303-0732, teri.charest@usbank.com

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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