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: July 18, 2017
Advertiser Disclosure
Ratings Policy
Cash Back Rating:
2.4 rating
2.4 rating
2.4 / 5
Rewards Value: 1.4
Annual Percentage Rate: 1.3
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
None

Annual Fee
$0

Estimated Yearly Rewards Value ($1,325 monthly spend)
$238

APR
14.99-23.99% (variable)

Pros

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

Cons

  • 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

No Annual Fee Rating:
2.5 rating
2.5 rating
2.5 / 5
Rewards Value: 1.7
Annual Percentage Rate: 1.7
Rewards Flexibility: 3.7
Features: 2.0

In a nutshell:

With a mere 1.5 percent rewards rate and no sign-up bonus, the U.S. Bank Cash 365 American Express card doesn’t offer much to recommend it over similar rewards cards.

Rewards Rate
1.5% on general purchases

Sign-up Bonus
None

Annual Fee
$0

Estimated Yearly Rewards Value ($1,325 monthly spend)
$238

APR
14.99-23.99% (variable)

Pros

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

Cons

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

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

Our reviews and best card recommendations are based on an objective rating process and are not driven by advertising dollars. However, we do receive compensation when you click on links to products from our partners. Learn more about our advertising policy

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.

No sign-up bonus
One major drawback to the U.S. Bank Cash 365 card falls short is its lack of a sign-up bonus. There are many flat-rate cards on the market at the moment that offer a 1.5 percent cash back rate. Most of these cards also offer a sign-up bonus of $100 or more to new cardholders. The U.S. Bank Cash 365 card, on the other hand, doesn’t offer any bonus rewards at all. While U.S. Bank claims that the 365 card has edge over these other cards due to its American Express benefits, a flat-rate card with a sign-up bonus probably offers the best overall value.

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 14.99 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 23.99 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 have a deposit account with U.S. Bank and want to work with the same bank. 

How to use it:

  • 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 CreditCards.com 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.

Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. It is not our partner’s responsibility to ensure all posts or questions are answered.