Reviews U.S. Bank Cash 365 American Express card review
U.S. Bank Cash 365 American Express card review

U.S. Bank Cash 365 American Express card review

Published: April 24, 2017
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Ratings Policy
Cash Back Rating:
2.9 rating
2.9 rating
2.9 / 5
Rewards Value 2.4
Annual Percentage Rate 1.0
Rewards Flexibility 3.7
Features 2.0

In a nutshell:

The U.S. Bank Cash 365 American Express card offers U.S. Bank customers a simpler way to earn cash back; however, the card’s higher APR and disappointing sign-up bonus limit its appeal.

Rewards Rate
1.5% on general purchases

Sign-up Bonus
$100 if you spend $500 in the first 90 days

Annual Fee

Estimated Yearly Rewards Value ($1,325 monthly spend)

14.74-23.74% (variable)


  • No limit on the amount of cash you can earn
  • Cash doesn’t expire
  • Redeem as bank deposit, statement credit or gift card


  • Minimum redemption of $20
  • Can’t redeem cash for merchandise or travel

Other Notable Features: Emergency travel assistance, extended warranty, VIP access to entertainment and events, return protection, price protection, car rental insurance

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If you want to earn a substantial amount of cash back, but don’t want to mess with a complex rewards scheme, a flat rate cash back card such as the U.S. Bank Cash 365 American Express is a good option. Instead of earning 2 to 5 percent cash back on certain types of purchases, you’ll be given 1.5 percent cash back on everything you spend. If you use your card for all or most of your purchases, that 1.5 percent cash back rate could net you a decent return.

The U.S. Bank Cash 365 American Express card doesn’t offer as high a sign-up bonus as some of its competitors, though, nor does it offer a singularly low interest rate. However, it’s a good pick for cardholders who prefer to bank with U.S. Bank or want an American Express card.

A solid rewards rate on every purchase
The U.S. Bank Cash 365 American Express card isn’t the most generous cash back card on the market. But it’s a good everyday card if you prefer to use the same card for all or most of your purchases. With a flat rate of 1.5 percent cash back on every purchase, you could take home a considerable amount if you use it frequently. For example, we estimate that cardholders who spend roughly $1,325 a month will earn around $271 a year. That’s a pretty good haul for a maintenance-free cash back card with no annual fee.

The U.S. Bank Cash 365 American Express card also works well for supplemental spending. If you typically use cards with higher rewards rates on popular spending categories, such as groceries and gas, you can juggle these with your Cash 365 card to earn a higher general rewards rate on purchases that don’t qualify for a bonus rate.

Accessible sign-up bonus
The U.S. Bank Cash 365 card also offers a $100 sign-up bonus, which is decent but is less generous than what’s offered by competitors. For example, the Chase Freedom Unlimited card grants $150 in exchange for signing up. However, cardholders don’t have to spend as much to get the sign-up bonus, which is a big step up from most other cards. To earn the $100 bonus, you just need to spend $500 – roughly $167 a month – in the card’s first 90 days. Many rewards cards, by contrast, require cardholders to spend $1,000 or more to earn a sign-up bonus.

Decent balance transfer promotion
The Cash 365 also offers a short-term 0 percent APR on transferred balances. If you have a modest balance to pay down, this card could help you meet your goal. The promotion only lasts 12 months, though. If you have a large amount of debt to pay off, you may want to look for a more generous card.

Pricey APR
The Cash 365 card doesn’t offer a 0 percent APR on purchases either, and so you’ll have to be careful with how much you spend. The APR on the U.S. Bank Cash 365 card is relatively high. Cardholders with the best credit scores may qualify for a rate as low as 14.74 percent, which is somewhat below average for a cash back card. However, cardholders with lower scores could get hit with an APR as high as 23.74 percent, making it a dangerous pick for cardholders who are prone to carrying a balance.

Reasons to get it:

  • You want a significant return on your spending, but don’t want to bother with a complicated rewards scheme.
  • You aren’t a big spender and are looking for a card with an accessible sign-up bonus.
  • You have a deposit account with U.S. Bank and want to work with the same bank. 

How to use it:

  • Spend at least $500 in the card’s first three months in order to get the maximum sign-up bonus.
  • Use your card for all or most of your purchases – or take your time and only use your card for occasional expenses.
  • Wait until you’ve collected at least $20 before requesting a redemption.

All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information. 

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