U.S. Bank Smartly™ Visa Signature® Card Review
2025.1 Update: It is clear now that if you have $100k in the brokerage account (only brokerage account balance is counted, not total balance across the bank), then its annual fee is waived.
2024.11 Update: This card is now live!
Contents
Application Link
Benefits
- Unlimited 2% cash back on every purchase + up to an additional 2% cash back when paired with a US Bank savings account or investment account, no cap:
- Earn a total of 2.5% cashback with a qualifying balance of $5,000 – $49,000;
- Earn a total of 3% cashback with a qualifying balance of $50,000 – $99,000;
- Earn a total of 4% cashback with a qualifying balance of $100,000 or more.
- About how you can park $100k in US Bank without losing money: either savings account or brokerage account:
- US Bank Smartly Savings currently (2024.12) has an APY 3.50% (if your balance is $25,000 or more), which is somewhat competitive but not the best among savings accounts.
- US Bank Self-Directed Investing. It has an annual fee of $50, but if you have $100k in the brokerage account (only brokerage account balance is counted, not total balance across the bank), then its annual fee is waived. It has 100 free trades per year, not unlimited. If you just invest in VOO or short term treasury ETFs (such as BIL) and almost never trade again, then there’s no cost.
- No annual fee.
Disadvantages
- No welcome offer.
- It has foreign transaction fee, so it's not a good choice outside the US.
Recommended Application Time
- We recommend you apply for this card after you have a credit history of at least two years and you are very comfortable with the credit card game.
Summary
The standard for no-annual-fee, unlimited category cashback cards has traditionally been set at 2%, with the Bank of America Preferred Rewards program boosting that to 2.625% for those with $100k in assets. However, the US Bank Smartly Credit Card takes things to a whole new level, offering a 4% cashback rate with no cap – – a game-changer for heavy spenders! This card is perfect for those who prefer a one-card strategy. If you’ve got $100k in assets, whether parked in VOO ETFs for the long term or short-term treasury bond ETFs, consider moving those funds to US Bank to unlock this unbeatable cashback rate across all categories.
Because it has no welcome offer, this card is ideal for product changes. If you have other US Bank credit cards, you can convert them to this one.
After Applying
- To check the application status, you can visit this webpage or call (800) 947-1444. If you see the 7-10 days message, it just means they will do a manual review and the outcome could be either approved or denied.
- US Bank reconsideration line: (800) 947-1444.