US Bank Cash+ Secure Card Review – Forbes Advisor
US Bank Cash+® Visa® secure card* compared to the Discover it® secure credit card
The Discover it® Secured Credit Card has one feature that instantly puts it ahead of all other secured cards: a first year bonus. The card offers an unlimited Cashback Match – Discover will automatically match any cashback earned at the end of the first year. The Discover it® secure credit card earns 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Plus, get unlimited 1% cash back on all other purchases. It has an annual fee of $0.
US Bank Cash+® Visa® secure card* compared to the secure US Bank Altitude® Go Visa® card*
Although both are secure cards offered by US Bank, the Cash+ Secured card earns cash and the Altitude Go Secured card earns points. The Altitude Go Secured Card earns 4 points per dollar spent on dining and takeout, 2 points per dollar spent at grocery stores, gas stations and streaming services, and 1 point per dollar on all other qualifying purchases. Earn a $15 streaming credit for annual purchases of streaming services like Netflix and Spotify.
Both cards have no annual fee, are covered by all three credit bureaus, and offer the option to upgrade to unsecured versions. What determines which card is better isn’t points vs. cash back, but rather which bonus categories best suit your spending habits.
US Bank Cash+® Visa® secure card* vs. Bank of America® Secure Credit Card with Personalized Cash Rewards*
The Bank of America Customized Cash Back Secured card also allows you to capitalize on your main category of expenses. With the card, you will get 3% cash back in the category of your choice: gas, online shopping, restaurants, travel, pharmacies or renovation/furnishing; 2% cash back at grocery stores and wholesale clubs; unlimited cash back on all other purchases. Earn 3% and 2% cash back on the first $2,500 of combined purchases in the choice/grocery/wholesale club category each quarter, then earn 1%.
Earning potential with US Bank Cash+ Secured could be higher than The Bank of America Customized Cash Back Secured. Bank of America’s high income categories are capped at $2,500 per quarter, which means the maximum you could earn on these categories is $300. The U.S. Bank Cash+ Secured Card earns 5% cash back up to the first $2,000 of qualifying spend each quarter, which could earn a maximum of $400 in cash back and no cap on the second category of earnings. 2%. The bonus categories are however slightly different between the two cards. Carefully compare the categories and your spending habits to choose the right one for you.