U.S. Bank Pros and Cons


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Compare U.S. Bank personal bank accounts

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Editor’s rating

3.5/5

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Editor’s rating

4/5

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Editor’s rating

3.5/5

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Editor’s rating

3.25/5

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0.01% to 4.50% (varies by location)

U.S. Bank: Overall Bank Rating

U.S. Bank Pros and Cons

U.S. Bank Personal Bank Accounts

U.S. Bank Standard Savings Account

U.S. Bank Standard Savings Account

Insider’s Rating

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3.5/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn up to $1,000 bonus


Fees

$4 monthly service fee


Annual Percentage Yield (APY)

0.01%


Minimum Deposit Amount

$25


Bonus

up to $400 (earn up to $1,000 total if you qualify for both Smartly Checking and Standard Savings account offers)

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. $25 minimum opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. You may qualify to waive the monthly fee
Cons

  • con icon Two crossed lines that form an ‘X’. Low APY
  • con icon Two crossed lines that form an ‘X’. $4 monthly service fee


The Insider’s Take

U.S. Bank is included in our best national banks guide as the best national bank in the Midwest and West. It’s a good choice if you want a brick-and-mortar bank with 24/7 live support. It also has a variety of credit card and lending options, and you can earn significant welcome bonuses when you open checking and savings accounts.


U.S. Bank
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Product Details

  • Earn up to $400 with a new Standard Savings account and earn up to $1,000 total If you open Smartly Checking and Standard Savings accounts at the same time.
  • •Make new money deposit(s) totaling $25,000 to $49,999.99 to earn $200 or $50,000 or more to earn $400 by September 30, 2023 •Maintain that balance until March 31, 2024
  • Earn an additional $100 for opening both the Standard Savings account and the U.S. Bank Smartly® Checking
  • Over 2,000 branches in 26 US states
  • Free access to around 4,700 ATMs
  • Waive $4 monthly service fee by maintaining a $300 daily balance, OR average $1,000 monthly balance, OR being under age 18
  • Interest compounded daily, paid monthly
  • FDIC insured

The U.S. Bank Standard Savings Account is the only U.S. Bank savings account offered and could be a decent option if you can waive the $4 monthly service fee. 

See Insider’s U.S. Bank Savings account review.

U.S. Bank Smartly® Checking

U.S. Bank Smartly® Checking

Insider’s Rating

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4/5

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Fees

$6.95 monthly service fee


Annual Percentage Yield (APY)

See site for details


Minimum Deposit Amount

$25


Bonus

up to $500 (earn up to $1,000 total if you qualify for both Smartly Checking and Standard Savings account offers)

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low minimum opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Several way to waive monthly service fee
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Large ATM network
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No fee overdraft protection transfers from a linked deposit account
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. $50 overdrawn Available Balance safety threshold and Overdraft Fee Forgiven program
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. May enroll in U.S. Bank Smart Rewards if you meet certain requirements
Cons

  • con icon Two crossed lines that form an ‘X’. $6.95 monthly service fee
  • con icon Two crossed lines that form an ‘X’. $2.50 out-of-network ATM fee
  • con icon Two crossed lines that form an ‘X’. $36 overdraft fee
  • con icon Two crossed lines that form an ‘X’. $12.50 overdraft protection transfer fee for transfers over $50 made from a linked credit account


Product Details

  • Earn up to $1,000 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through October 31, 2023. Member FDIC.
  • Earn up to $500 with a new Bank Smartly Checking account.
  • Complete the following within 90 days of account opening:
  • -Enroll in online banking or the U.S. Bank Mobile App
  • -Make two or more direct deposit(s)* totaling $5,000 to $9,999.99 to earn $300 or $10,000 or more to earn $500
  • Earn up to $400 with a new Standard Savings account.
  • -Make new money deposit(s) totaling $25,000 to $49,999.99 to earn $200 or $50,000 or more to earn $400 by November 30, 2023 •Maintain that balance until May 31, 2024
  • Earn an additional $100 for opening both!
  • Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible for Checking account

U.S. Bank Safe Debit account

U.S. Bank Safe Debit account

Insider’s Rating

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3.5/5


Fees

$4.95 monthly service fee


Annual Percentage Yield (APY)

None


Minimum Deposit Amount

$25

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low minimum opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No overdraft fees
Cons

  • con icon Two crossed lines that form an ‘X’. $4.95 monthly service fee
  • con icon Two crossed lines that form an ‘X’. $2.50 out-of-network ATM fee
  • con icon Two crossed lines that form an ‘X’. Can’t overdraw from account
  • con icon Two crossed lines that form an ‘X’. Paper checks can’t be processed


Product Details

  • Access to over 2,000 branches in 26 states
  • Part of the MoneyPass ATM network, which has over 37,000 ATMs
  • No paper checks with the Safe Debit account
  • Member FDIC

U.S. Bank has two checking accounts: the U.S. Bank Safe Debit account and Suncoast Credit Union Smartly Checking Account.

The Suncoast Credit Union Smartly Checking Account will likely be a stronger option if your goal is to open a checking account that lets you waive monthly service fees,  but the U.S. Bank Safe Debit account could be worth considering if you want to avoid overdraft fees.

See Insider’s U.S. Bank Personal Checking accounts review.

U.S. Bank Standard CD

U.S. Bank Standard CD

Insider’s Rating

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3.5/5


Annual Percentage Yield (APY)

0.05% to 0.25%


Minimum Deposit Amount

$500

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. $500 minimum opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Variety of terms
Cons

  • con icon Two crossed lines that form an ‘X’. Online banks may pay a higher interest rate
  • con icon Two crossed lines that form an ‘X’. High-to-standard early withdrawal penalties


Product Details

  • Over 2,000 branches in 26 US states
  • Free access to around 4,700 ATMs
  • Terms range from 1 month to 5 years
  • For terms 6 months or less, you have to pay an early withdrawal penalty of $25, plus all the interest that would have been earned on the withdrawn amount for the entire term OR 1% of the withdrawn amount
  • For terms between 6 months and 1 year, you’ll have to pay an early withdrawal penalty of $25, plus 50% of the interest that would have been earned on the withdrawn amount for the entire term OR 1% of the withdrawn amount
  • For terms longer than 1 year, you’ll have to pay an early withdrawal penalty of $25, plus 50% the interest that would have been earned on the withdrawn amount for the entire term OR 3% of the withdrawn amount
  • Interest compounded daily, deposited monthly
  • FDIC insured

U.S. Bank offers decent CDs, with terms ranging from one month to five years. It also has special CDs, which offer solid interest rates on certain terms. 

U.S. Bank Elite Money Market Account

U.S. Bank Elite Money Market Account

Insider’s Rating

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3.25/5


Fees

$10 monthly service fee


Annual Percentage Yield (APY)

0.01% to 4.50% (varies by location)


Minimum Deposit Amount

$100

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. $100 minimum opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Check writing included
Cons

  • con icon Two crossed lines that form an ‘X’. Low interest rate
  • con icon Two crossed lines that form an ‘X’. No debit card included


Product Details

  • If you open a new US Bank Elite Money Market account in select areas, you’ll be eligible for an introductory bonus interest rate (Earn an interest rate of up to 4.50% during the first 3 months of opening the account; For the remaining 9 months of the year, you’ll earn an interest rate 0.25%)
  • To earn the blended APY, you must maintain an account balance between $25,000 and $499,999 during the 3-month period
  • Over 2,000 branches in 26 US states
  • Free access to around 4,700 ATMs
  • Waive the $10 monthly maintenance fee, keep at least $10,000 in your account daily
  • Interest compounded daily, deposited monthly
  • Member FDIC

The U.S. Bank Elite Money Market Account might be a compelling account if you want a money market account with a low minimum opening deposit. 

U.S. Bank Business Checking and Money Market Accounts

Compare U.S. Bank business accounts

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Editor’s rating

3.75/5

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Editor’s rating

3.5/5

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0.00% to 0.005% (as of 11/10/2022)

Editor’s rating

3.5/5

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Editor’s rating

3.75/5

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U.S. Bank Silver Business Checking Package

U.S. Bank Silver Business Checking Package

Insider’s Rating

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3.75/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn up to $800 bonus


Fees

no monthly service fee


Annual Percentage Yield (APY)

None


Minimum Deposit Amount

$100

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. $100 minimum opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Overdraft protection available
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. 125 free transactions per month
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. May qualify for cash bonus
Cons

  • con icon Two crossed lines that form an ‘X’. $0.50 fee for each transaction that exceeds the 125 monthly limit
  • con icon Two crossed lines that form an ‘X’. $2.50 out-of-network ATM fee
  • con icon Two crossed lines that form an ‘X’. $20 incoming domestic wire transfer fee
  • con icon Two crossed lines that form an ‘X’. $30 outgoing domestic wire transfer fee
  • con icon Two crossed lines that form an ‘X’. $25 incoming international wire transfer fee
  • con icon Two crossed lines that form an ‘X’. $50 outgoing international wire transfer fee
  • con icon Two crossed lines that form an ‘X’. $12.50 fee if you utilize overdraft protection


Product Details

  • Earn up to an $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q3AFL23 and complete qualifying activities, subject to certain terms and limitations.
  • Offer valid through January 8, 2024. Member FDIC. Complete these steps to earn the offer:
  • Earn your $350.
  • – Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
  • Earn your $800.
  • – Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
  • Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible for checking account.
  • Designed for businesses with limited transaction activity, this package offers a variety of value-added products and services to help save you time and money
  • $0 monthly maintenance fee
  • 125 free transactions per month, $0.50 fee for each additional transaction
  • Member FDIC

U.S. Bank Gold Business Checking Package

U.S. Bank Gold Business Checking Package

Insider’s Rating

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3.5/5

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Perks

Earn up to $800 bonus


Fees

$20 monthly service fee


Annual Percentage Yield (APY)

0.00% to 0.005% (as of 11/10/2022)


Minimum Deposit Amount

$100

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. $100 minimum opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive monthly service fee
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Overdraft protection available
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. 100 free cash deposits per statement cycle
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. 300 free transactions per month
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. May qualify for cash bonus
Cons

  • con icon Two crossed lines that form an ‘X’. $20 monthly service fee
  • con icon Two crossed lines that form an ‘X’. $0.45 fee for each transaction that exceeds the 300 monthly limit
  • con icon Two crossed lines that form an ‘X’. $2.50 out-of-network ATM fee
  • con icon Two crossed lines that form an ‘X’. $20 incoming domestic wire transfer fee
  • con icon Two crossed lines that form an ‘X’. $30 outgoing domestic wire transfer fee
  • con icon Two crossed lines that form an ‘X’. $25 incoming international wire transfer fee
  • con icon Two crossed lines that form an ‘X’. $50 outgoing international wire transfer fee
  • con icon Two crossed lines that form an ‘X’. $12.50 fee if you utilize overdraft protection


Product Details

  • Earn up to an $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q3AFL23 and complete qualifying activities, subject to certain terms and limitations.
  • Offer valid through January 8, 2024. Member FDIC. Complete these steps to earn the offer:
  • Earn your $350.
  • – Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
  • Earn your $800.
  • – Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
  • Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible for checking account.
  • If your business has moderate transaction activity, this business checking account package offers more ways to save, helping you manage cash flow
  • $20 monthly maintenance fee, waivable
  • 300 free transactions per month, $0.45 fee for each additional transaction
  • 100 of free cash deposits per statement cycle
  • 50% discount on first check order up to $100.
  • Free front check image on your monthly checking account statement
  • Member FDIC

U.S. Bank Platinum Business Checking Package

U.S. Bank Platinum Business Checking Package

Insider’s Rating

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3.5/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn up to $800 bonus


Fees

$30 monthly service fee


Annual Percentage Yield (APY)

None


Minimum Deposit Amount

$100

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. $100 minimum opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive monthly service fee
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Overdraft protection available
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. 500 free transactions per month
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. May qualify for cash bonus
Cons

  • con icon Two crossed lines that form an ‘X’. $30 monthly service fee
  • con icon Two crossed lines that form an ‘X’. $0.40 fee for each transaction that exceeds the 500 monthly limit
  • con icon Two crossed lines that form an ‘X’. $2.50 out-of-network ATM fee
  • con icon Two crossed lines that form an ‘X’. $20 incoming domestic wire transfer fee
  • con icon Two crossed lines that form an ‘X’. $30 outgoing domestic wire transfer fee
  • con icon Two crossed lines that form an ‘X’. $25 incoming international wire transfer fee
  • con icon Two crossed lines that form an ‘X’. $50 outgoing international wire transfer fee
  • con icon Two crossed lines that form an ‘X’. $12.50 fee if you utilize overdraft protection


Product Details

  • Earn up to an $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q3AFL23 and complete qualifying activities, subject to certain terms and limitations.
  • Offer valid through January 8, 2024. Member FDIC. Complete these steps to earn the offer:
  • Earn your $350.
  • – Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
  • Earn your $800.
  • – Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
  • Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible for checking account.
  • If your business has excess cash on hand, the Platinum Business Checking Package offers the best rewards with the convenience of consolidated accounts
  • $30 monthly maintenance fee, waivable
  • 500 free transactions per month, $0.40 fee for each additional transaction
  • 50% discount on first check order up to $100
  • Free Mobile Check Deposit
  • Free front and back check images on your monthly checking account statement
  • Member FDIC

U.S. Bank Platinum Business Money Market Account

U.S. Bank Platinum Business Money Market Account

Insider’s Rating

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3.75/5


Fees

$15 monthly service fee


Annual Percentage Yield (APY)

0.01% to 4.86%


Minimum Deposit Amount

$100

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low minimum opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive monthly service fee
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. ATM access
Cons

  • con icon Two crossed lines that form an ‘X’. Low interest rate if you don’t qualify for an introductory bonus rate
  • con icon Two crossed lines that form an ‘X’. $15 monthly service fee


Product Details

  • Receive up to 4.86% APY from the account opening date when you open a new Platinum Business Money Market Account and complete qualifying activities, subject to certain terms and limitations. Offer valid through October 4, 2023. Member FDIC.
  • Complete these steps to earn the offer:
  • – Open a new Platinum Business Money Market Account
  • – Deposit $25,000 – $2,999,999.99 in new money deposits
  • 4.60% APY on balances between $25,000 to $499,999.99
  • 4.86% APY on balances between $500,000 – $2,999,999.99
  • $15 monthly maintenance fee waived with a $10,000 minimum daily ledger balance
  • Minimum opening deposit: $100
  • FDIC Insurance up to $250,000
  • Can be linked to your U.S. Bank business checking account for overdraft protection
  • ATM Access
  • Free U.S. Bank Internet Banking
  • Accrue interest daily and pay interest monthly
  • U.S. Bank Visa® Debit Card

U.S. Bank has three types of business checking accounts and three business money market accounts, including the U.S. Bank Platinum Business Money Market Account. The best business checking account option for you will likely depend on how many monthly transactions you need to make each month.

Also, bear in mind the U.S. Bank Silver Business Checking Package is the only option that has no monthly service fee. With the other business checking accounts, you’ll need to meet certain requirements to waive the fee.

See Insider’s U.S. Bank business checking account review here.

U.S. Bank Personal Credit Cards

U.S. Bank personal credit cards

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Editor’s rating

3.9/5

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Editor’s rating

4/5

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Editor’s rating

4/5

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Editor’s rating

3.9/5

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$0 intro for the first year, then $95

Editor’s rating

3.33/5

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Editor’s rating

4.1/5

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Editor’s rating

3.6/5

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Editor’s rating

4/5

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Editor’s rating

4.3/5

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U.S. Bank Shopper Cash Rewards™ Visa Signature® Card

U.S. Bank Shopper Cash Rewards™ Visa Signature® Card

Insider’s Rating

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3.9/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn 1.5-6% cash back on purchases


Annual Fee

$0 intro for the first year, then $95


Regular APR

18.74-28.74% Variable


Recommended Credit

Excellent/Good

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. High cash-back earning at popular retailers like Amazon, Target, and Walmart
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Ability to customize rewards depending on your spending habits
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Generous welcome bonus offer
Cons

  • con icon Two crossed lines that form an ‘X’. Annual fee after the first year, foreign transaction fees
  • con icon Two crossed lines that form an ‘X’. 6% and 3% cash back categories are capped at $1,500 in spending per quarter
  • con icon Two crossed lines that form an ‘X’. No intro 0% APR offer


Product Details

  • The information related to the U.S. Bank Shopper Cash Rewards™ Visa Signature® Card has been collected by Business Insider and has not been reviewed by the issuer.
  • $0 intro annual fee for the first year, then $95 a year
  • Earn $250 bonus after spending $2,000 in eligible purchases within the first 120 days of account opening
  • 6% cash back on your first $1,500 in combined eligible purchases each quarter with two retailers you choose
  • 5.5% back on prepaid car and hotel reservations booked through the US Bank Rewards Center
  • 3% cash back on your first $1,500 in eligible purchases on your choice of one everyday category (like wholesale clubs, gas and EV charging stations, bills and utilities)
  • 1.5% cash back on all other eligible purchases

See Insider’s U.S. Bank Shopper Cash Rewards credit card review.

U.S. Bank Altitude® Go Visa Signature® Card

U.S. Bank Altitude® Go Visa Signature® Card

Insider’s Rating

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4/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn 1-4x points on purchases


Intro APR

0% intro APR on purchases and balance transfers for the first 12 billing cycles


Regular APR

20.24% – 29.24% Variable


Recommended Credit

Good to Excellent

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Great earning rate on dining (4x points = 4% back)
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Good welcome bonus for a no-annual-fee card
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Annual streaming credit
Cons

  • con icon Two crossed lines that form an ‘X’. No airline or hotel transfer partners
  • con icon Two crossed lines that form an ‘X’. Few benefits compared to other rewards credit cards


Product Details

  • All information about the U.S. Bank Altitude® Go Visa Signature® Card has been collected independently by Business Insider and has not been reviewed by the issuer of this product.
  • Earn 20,000 bonus points when you spend $1,000 in eligible purchases within the first 90 days of account opening.
  • Earn 4 points per dollar on dining, takeout, and restaurant delivery.
  • Earn 2 points per dollar on streaming services. Plus, a $15 credit for annual streaming purchases like Netflix, Hulu, Spotify and more.
  • Earn 2 points per dollar at grocery stores, grocery delivery, gas stations, and EV charging stations.
  • Earn 1 point per dollar on all other eligible purchases.
  • 0% intro APR on purchases and balance transfers for the first 12 billing cycles, then 20.24% – 29.24% variable APR.
  • No Annual Fee.

See Insider’s U.S. Bank Altitude Go Visa Signature Card review.

U.S. Bank Cash+® Visa Signature® Card

U.S. Bank Cash+® Visa Signature® Card

Insider’s Rating

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4/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn 1% to 5% cash back on purchases.


Intro APR

0% intro APR on purchases and balance transfers for the first 15 billing cycles


Regular APR

19.74% – 29.74% Variable


Recommended Credit

Good to Excellent

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Generous cash-back earning and welcome bonus for a no-annual-fee card
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Ability to choose the best 5% and 2% cash-back categories for you
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Introductory 0% APR offer on purchases and balance transfers
Cons

  • con icon Two crossed lines that form an ‘X’. 5% cash-back category is capped at $2,000 in purchases per quarter
  • con icon Two crossed lines that form an ‘X’. Foreign transaction fees


Product Details

  • All information about the U.S. Bank Cash+® Visa Signature® Card has been collected independently by Business Insider and has not been reviewed by the issuer of this product.
  • Earn a $200 bonus after spending $1,000 in eligible purchases within the first 120 days of account opening.
  • Earn 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories of your choice
  • Earn 5% cash back on prepaid air, hotel and car reservations booked through the Rewards Center
  • Earn 2% cash back on one everyday category, like gas stations/EV charging stations, grocery stores or restaurants
  • Earn 1% cash back on all other eligible purchases
  • 0% intro APR on purchases and balance transfers for the first 15 billing cycles, then 19.74% – 29.74% variable APR
  • No Annual Fee

See Insider’s U.S. Bank Cash Plus Signature card review.

U.S. Bank Altitude® Connect Visa Signature® Card

U.S. Bank Altitude® Connect Visa Signature® Card

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

3.9/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn unlimited 1-5 points per dollar on purchases.


Annual Fee

$0 intro for the first year, then $95


Regular APR

20.24% – 28.24% Variable


Recommended Credit

Excellent/Good

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Great earning rate on travel and at gas stations (4x points = 4% back)
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Bonus points on streaming services plus $30 yearly streaming credit can save you money
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Global Entry or TSA PreCheck application fee credit is worth up to $100
Cons

  • con icon Two crossed lines that form an ‘X’. Annual fee after the first year
  • con icon Two crossed lines that form an ‘X’. No airline or hotel transfer partners


Product Details

  • The information related to the U.S. Bank Altitude® Connect Visa Signature® Card has been collected by Business Insider and has not been reviewed by the issuer.
  • Earn 5X points on prepaid hotels and car rentals booked directly in the Altitude Rewards Center.
  • Earn 4X points on travel, gas stations, and EV charging stations.
  • Earn 2X points on streaming services. Plus, a $30 credit for annual streaming purchases (like Netflix, Hulu, Spotify®, Apple Music, Disney+, HBO Max)
  • Earn 2X points at grocery stores, grocery delivery, and dining.
  • Earn 1X point on all other eligible purchases.
  • Receive up to $100 in statement credits every four years for your TSA PreCheck® or Global Entry® application fee
  • Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay(™) Plan.

See Insider’s U.S. Bank Altitude Connect card review.

U.S. Bank Visa® Platinum Card

U.S. Bank Visa® Platinum Card

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

3.33/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

0% intro APR on purchases and balance transfers for 18 billing cycles, then 19.74% – 29.74% variable APR


Intro APR

0% intro APR on purchases and balance transfers for 18 billing cycles


Regular APR

19.74% – 29.74% Variable


Recommended Credit

Good to Excellent

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Long intro APR period for balance transfers and purchases
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cell phone protection
Cons

  • con icon Two crossed lines that form an ‘X’. No rewards
  • con icon Two crossed lines that form an ‘X’. Balance transfer fee


Product Details

  • Get a 0% intro APR on purchases and balance transfers for 18 billing cycles, then 19.74% – 29.74% variable APR
  • Up to $600 for cell phone protection when you pay your monthly cell phone bill with your card
  • Option to choose a payment date that fits your schedule
  • No Annual Fee

See Insider’s U.S. Bank Visa Platinum card review.

U.S. Bank Altitude® Reserve Visa Infinite® Card

U.S. Bank Altitude® Reserve Visa Infinite® Card

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

4.1/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn 1-5x points on purchases


Regular APR

21.24% – 28.24% Variable


Recommended Credit

Excellent

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Substantial welcome bonus and great earning opportunities, especially with mobile wallets
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. $325 annual travel and dining credit can offset most of the $400 annual fee
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Top-notch travel insurance and protections
Cons

  • con icon Two crossed lines that form an ‘X’. You must have an existing relationship with US Bank to be approved
  • con icon Two crossed lines that form an ‘X’. Limited to a 12-month complimentary Priority Pass membership with only four free visits for cardholder (plus a guest) included
  • con icon Two crossed lines that form an ‘X’. No airline or hotel transfer partners


Product Details

  • The information related to the U.S. Bank Altitude® Reserve Visa Infinite® Card has been collected by Business Insider and has not been reviewed by the issuer.
  • Earn 50,000 points worth $750 on travel after spending $4,500 in the first 90 days of account opening
  • Earn 5X points on prepaid hotels and car rentals booked directly in the Altitude Rewards
  • Earn 3X points for every $1 on eligible travel purchases and mobile wallet
  • Earn 1X point per $1 spent on all other eligible net purchases
  • Use your mobile device to instantly redeem points for almost any purchase

See Insider’s U.S. Bank Altitude Reserve Visa Infinite Card review.

U.S. Bank FlexPerks® Gold American Express® Card

U.S. Bank FlexPerks® Gold American Express® Card

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

3.6/5


Regular APR

18.74% – 28.74% variable


Recommended Credit

Excellent

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Points worth 1.5 cents each toward travel
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Statement credit for Global Entry/TSA PreCheck
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free Boingo Wi-Fi
Cons

  • con icon Two crossed lines that form an ‘X’. $85 annual fee
  • con icon Two crossed lines that form an ‘X’. Points don’t transfer to airlines and hotels
  • con icon Two crossed lines that form an ‘X’. Lackluster travel insurances


Product Details

  • The information related to the U.S. Bank FlexPerks® Gold American Express® Card has been collected by Business Insider and has not been reviewed by the issuer.
  • Annual fee of $85 and no foreign transaction fees(see full terms and conditions).
  • Earn 5X on prepaid hotels and car rentals
  • Earn 3X on dining, takeout and restaurant delivery
  • Earn 2X at airlines, gas stations and EV charging stations
  • 1X on all other purchases
  • Automatic statement credit reimbursement on the TSA PreCheck® or Global Entry® application fee

See Insider’s U.S. Bank FlexPerks Gold American Express Card review.

U.S. Bank Altitude® Go Visa® Secured Card

U.S. Bank Altitude® Go Visa® Secured Card

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

4/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn unlimited 1-4 points per dollar on purchases.


Regular APR

29.24% Variable


Recommended Credit

New/Rebuilding

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Great earning rates on dining, gas, streaming, and groceries
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Build credit with responsible use over time and you may be able to automatically graduate to a non-secured card
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Annual streaming credit
Cons

  • con icon Two crossed lines that form an ‘X’. Requires a security deposit ($300 minimum)
  • con icon Two crossed lines that form an ‘X’. No welcome bonus


Product Details

  • The information related to the U.S. Bank Altitude® Go Visa® Secured Card has been collected by Business Insider and has not been reviewed by the issuer.
  • Earn 4X points on dining, takeout and restaurant delivery
  • Earn 2X points at grocery stores, grocery delivery, streaming services, gas stations and EV charging stations
  • Earn 1X point on all other eligible purchases
  • Earn $15 streaming credit for annual streaming service purchases like Netflix and Spotify®

U.S. Bank Cash+® Visa® Secured Card

U.S. Bank Cash+® Visa® Secured Card

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

3.88/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn 1-5% cash back on purchases.


Regular APR

29.24% Variable


Recommended Credit

New/Rebuilding

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Great cash-back earning rates with the ability to choose your own 5% categories
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Build credit with responsible use over time and you may be able to automatically graduate to a non-secured card
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No annual fee
Cons

  • con icon Two crossed lines that form an ‘X’. Requires a security deposit ($300 minimum)
  • con icon Two crossed lines that form an ‘X’. 5% cash back categories capped at $2,000 in combined spending per quarter
  • con icon Two crossed lines that form an ‘X’. No welcome bonus


Product Details

  • The information related to the U.S. Bank Cash+® Visa® Secured Card has been collected by Business Insider and has not been reviewed by the issuer.
  • Earn 5% cash back on your first $2,000 in combined eligible purchases each quarter in two categories you choose
  • Earn 5% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Center
  • Earn 2% cash back on eligible purchases in your choice of one everyday category (like gas stations and EV charging stations, grocery stores and restaurants)
  • Earn 1% cash back on all other eligible purchases
  • Option to choose your payment due date
  • Select to set up Autopay
  • $0 annual fee

U.S. Bank has a variety of credit cards, including secured credit cards, rewards credit cards, and travel credit cards. In addition to the credit cards listed, U.S. Bank has a Secured Visa Card.

U.S. Bank Business Credit Cards

U.S. Bank business credit cards

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Editor’s rating

4/5

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

Editor’s rating

3.9/5

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

$0 intro for 12 months, then $95

Editor’s rating

3.33/5

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

U.S. Bank Business Triple Cash Rewards World Elite Mastercard®

U.S. Bank Business Triple Cash Rewards World Elite Mastercard®

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

4/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn 1-5% cash back on purchases.


Intro APR

0% intro APR on purchases and balance transfers for 15 billing cycles


Regular APR

19.24% – 28.24% Variable


Recommended Credit

Excellent/Good

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Strong welcome bonus and bonus categories for a no-annual-fee card
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Introductory 0% APR on both purchases and balance transfers for 15 billing cycles
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. World Elite Mastercard benefits including cell phone protection
Cons

  • con icon Two crossed lines that form an ‘X’. Foreign transaction fees
  • con icon Two crossed lines that form an ‘X’. Relatively high minimum spending requirement to unlock bonus
  • con icon Two crossed lines that form an ‘X’. Authorized user purchases don’t count toward minimum spending requirement

U.S. Bank Business Leverage® Visa Signature® Card

U.S. Bank Business Leverage® Visa Signature® Card

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

3.9/5


Annual Fee

$0 intro for 12 months, then $95


Regular APR

21.24% – 26.24% Variable


Recommended Credit

Good to Excellent

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Large sign-up bonus
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Simple points earning/redeeming structure
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. 5% back on prepaid hotels and rental cars booked through Travel Rewards Center
Cons

  • con icon Two crossed lines that form an ‘X’. Relatively few ongoing benefits
  • con icon Two crossed lines that form an ‘X’. Modest return rates
  • con icon Two crossed lines that form an ‘X’. $95 annual fee


Product Details

  • Earn $750 in rewards when you spend $7,500 in eligible purchases on the account owners’ card within the first 120 days of opening your account.
  • Earn 2% back in the top two categories where you spend the most each month automatically.
  • 1% cash per dollar spent on all other eligible purchases.
  • Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
  • No annual fee for the first year and $95 thereafter.
  • No reward caps or limits on the total rewards your business can earn. Redeem for your choice of cash back, gift cards, merchandise and travel.
  • Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
  • Expense management tool VISA Spend Clarity is free to access and sync expenses, set employee card controls, generate reports, and more.
  • Great Offer from U.S. Bank, a 2022 World’s Most Ethical Company® – Ethisphere Institute, February 2022
  • Terms and conditions apply

U.S. Bank Business Platinum Card

U.S. Bank Business Platinum Card

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

3.33/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

0% intro APR on purchases and balance transfers for 18 billing cycles, then 16.24% – 25.24% Variable APR.


Intro APR

0% intro APR on purchases and balance transfers for the first 18 billing cycles


Regular APR

16.24% – 25.24% Variable


Recommended Credit

Good to Excellent

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Extra-long 0% introductory APR on purchases and balance transfers
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No annual fee
Cons

  • con icon Two crossed lines that form an ‘X’. No rewards or welcome bonus
  • con icon Two crossed lines that form an ‘X’. Few benefits compared to other small-business cards
  • con icon Two crossed lines that form an ‘X’. Foreign transaction fees


The Insider’s Take

While it doesn’t earn rewards or come with a welcome bonus, the U.S. Bank Business Platinum Card might be just what your business needs if you don’t want to get hit with big interest charges on large purchases you can’t pay off all at once.

U.S. Bank has three business credit cards. The U.S. Bank Business Triple Cash Rewards World Elite Mastercard® and U.S. Bank Business Platinum Card do not charge any annual fees.

See Insider’s U.S. Bank Business Triple Cash Rewards Card review.

U.S. Bank Auto Loans

U.S. Bank Auto Loan

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

3.5/5


Regular Annual Percentage Rate (APR)

New or used as low as 7.81%, Refinancing as low as 8.24%


Recommended Credit

Undisclosed

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Competitive rates, particularly on used cars and refinancing
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Variety of term lengths available
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. US Bank relationship rate discount
Cons

  • con icon Two crossed lines that form an ‘X’. Can’t buyout your lease
  • con icon Two crossed lines that form an ‘X’. High minimum loan amount
  • con icon Two crossed lines that form an ‘X’. Fee for paying off your loan early


Product Details

  • Term lengths range from 12 to 72 months
  • Minimum income and credit score requirements undisclosed
  • Discount of 0.50% for automatic payments from a US Bank checking or savings account
  • Minimum loan amount of $5,000, maximum of $100,000
  • Prepayment penalty of 1% of the original loan amount, with a $50 minimum and $100 maximum if account is closed within 12 months
  • Loans are made by US Bank National Association, Member FDIC

U.S. Bank offers auto loans for new and used vehicles for terms of up to 60 months. You can refinance a car loan if live in one of 26 eligible US states. For the most part, you’ll be able to refinance your loan if you live in a state that has a U.S. Bank branch.

See Insider’s U.S. Bank auto loan review.

U.S. Bank Personal Loans

U.S. Bank Personal Loan


Check rates

Compare loan options and get your rates today.

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

3.5/5


Regular APR

8.24% to 21.49%


Loan Amount Range

$1,000 to $50,000 for US Bank customers, up to $25,000 for non-customers

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Competitive APRs
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low minimum loan amount
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No origination fee or prepayment penalty
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Fast funding
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Autopay discount
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Joint application allowed
Cons

  • con icon Two crossed lines that form an ‘X’. Late fee
  • con icon Two crossed lines that form an ‘X’. Not available in some states
  • con icon Two crossed lines that form an ‘X’. Worse terms for borrowers who aren’t customers of US Bank
  • con icon Two crossed lines that form an ‘X’. No loan preapproval


Product Details

  • Get your money within a few hours if you’re a US Bank customer
  • 0.50% discount when you autopay from a US Bank account
  • Available in Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, Wyoming
  • Loan terms range from 12 to 84 months (maximum 60 months for non-customers)

You might find a U.S. Bank Personal Loan worthwhile if you have a U.S. Bank personal checking account. Checking account customers with credit approval can borrow up to $50,000, while people who aren’t U.S. Bank checking account customers can only borrow up to $25,000.

See Insider’s U.S. Bank personal loans review here.

U.S. Bank Mortgages

U.S. Bank Mortgage

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

4/5


Types of Loans Offered

Conforming, jumbo, FHA, VA, construction, HELOC, home equity loan, refinance

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Receive a VA mortgage with a credit score as low as 600
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all 50 US states
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Receive up to $1,000 toward refinance closing costs if your initial mortgage is with US Bank
Cons

  • con icon Two crossed lines that form an ‘X’. No USDA mortgages
  • con icon Two crossed lines that form an ‘X’. Doesn’t accept alternatives to a credit score, such as utility bills
  • con icon Two crossed lines that form an ‘X’. To streamline refinance your FHA mortgage, your original mortgage must already be with US Bank


Product Details

  • Offers home loans in all 50 US states and Washington, DC
  • Has branches in 26 US states
  • Does not accept alternative credit sources in lieu of a credit score
  • Minimum credit score and down payment displayed are for conforming mortgages

U.S. Bank has a variety of home loans, including conforming loans, jumbo loans, FHA loans, VA loans, construction loans, HELOC, and home equity loans. It doesn’t have USDA loans, though.

See Insider’s U.S. Bank mortgage review here

How U.S. Bank Works

U.S. Bank has more than 2,000 branches across 26 states. Branch locations are available in: 

  • Arizona
  • Arkansas
  • California
  • Colorado
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Minnesota
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • Oregon
  • South Dakota
  • Tennessee
  • Utah
  • Washington
  • Wisconsin 
  • Wyoming

It offers ATMs across 40 states and is part of the MoneyPass ATM Network, which provides access to over 37,000 ATMs.

If you have questions about bank products or services, visit the FAQ page on the bank’s website. Customer service representatives are also available over the phone 24/7.

The bank’s mobile app received 4.7 out of 5 stars in the Google Play Store. In the Apple Store, it has 4.8 out of 5 stars.

U.S. Bank is FDIC insured. Up to $250,000 is protected in an individual account, and $500,000 is secure in a joint bank account. 

Is U.S. Bank Trustworthy?

The Better Business Bureau rates businesses on how they handle customer issues and whether they have transparent business practices. The BBB gave U.S. Bank a B+ rating because of government action taken against the bank.

A good BBB rating doesn’t necessarily mean that your relationship with a business will be perfect. If you have friends or family that have used US Bank, chat with them about their perspectives. Online customer reviews are another option. 

U.S. Bank has been involved in a few public controversies.

In 2022, US Bank paid $37.5 million in a settlement with the Consumer Financial Protection Bureau. The CFPB accused the bank of obtaining customers’ credit reports and opening checking accounts, savings accounts, credit cards, and lines of credit without their knowledge. 

In 2020, US Bank, Nationstar Mortgage, and PNC Bank paid $74 million in an agreement with the Department of Justice. According to the press release, the Department of Justice said the three mortgage services didn’t follow bankruptcy regulations and had service errors that impacted borrowers.

The government also required US Bank to pay $200 million in a settlement that said the bank approved FHA loans for home insurance even when the borrowers didn’t qualify for it.

How U.S. Bank Compares

U.S. Bank vs. Bank of America

Bank of America has 4,200 branches in 37 states while U.S. Bank has over 2,000 branches in 26 states. Bank of America could be a better option if you prefer a large branch network.

You might prefer U.S. Bank if you’re looking for more options for home loans. Bank of America doesn’t have a USDA loan, reverse mortgage, home equity loan, or construction loan.

U.S. Bank vs. Chase

You might lean more toward Chase if you find it appealing to open specialty bank accounts for college students, kids, or teens. Accounts for minors also come with unique features like savings tools or parental monitoring features.

Chase will also be a more compelling choice if you prioritize a large branch network. It has over 4,800 branches, while US Bank has over 2,000 branches.

U.S. Bank FAQs

U.S. Bank is a large bank with branches in 26 US states and employees in 13 countries. It is insured by the FDIC, and offers a well-reviewed mobile app. U.S. Bank is owned by U.S. Bancorp and headquartered in Minneapolis, Minnesota.

Yes, U.S. Bank is a safe bank, because it is federally insured by the FDIC. This means your money is safe even in the rare event a bank shuts down. Up to $250,000 is secured in a U.S. Bank savings, checking, CD, or money market account. 

U.S. Bank has branches in 26 states: Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin, and Wyoming.

U.S. Bancorp owns U.S. Bank. U.S. Bancorp is a publicly traded company that is not affiliated with the U.S. government.

Yes, Union Bank is transitioning into joining U.S. Bank. The transition started in December 2022, and different types of accounts — such as bank accounts, mortgages, and credit cards — have gradually switched over to U.S. Bank throughout 2023.



Source link: https://www.businessinsider.com/personal-finance/us-bank-review

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