The U.S. Bank Smartly™ Visa Signature® Card, previously known for its generous rewards program for customers with substantial U.S. Bank account investments, has recently undergone significant changes. Although existing cardholders are not affected at the moment, new applicants will experience a revamped rewards structure starting April 14, 2025.
One major change is that it is now more challenging to earn cash back rates higher than 2%. While the card still offers a solid 2% cash back on all purchases, meeting specific requirements to qualify for higher rates has become more stringent. To earn 2.5%, 3%, or even 4% cash back, cardholders must now maintain specific balance tiers in a U.S. Bank Smartly savings account and checking account or Safe Debit account.
Previously, various U.S. Bank accounts and investments could contribute to the qualifying balance, and the threshold for reaching the 2.5% cash back tier was lower. However, achieving the coveted 4% cash back rate now requires a substantial six-figure balance. Additionally, the calculation of the qualifying balance has shifted from a 90-day average to a 30-day average, potentially impacting eligibility for higher cash back rewards based on monthly cash flow.
Another notable change is the introduction of spending limits for higher cash back tiers. While there is no cap on earning 2% cash back, cardholders can now only earn 2.5% back or more on up to $10,000 in spending per billing cycle. Once this limit is reached, the cash back rate reverts to the base 2%.
Furthermore, certain types of purchases, such as education or tuition payments, gift cards, insurance, taxes, business-to-business transactions, and third-party bill payment services, will only qualify for 2% cash back, even if the cardholder meets the balance requirements for higher rates.
Overall, the U.S. Bank Smartly™ Visa Signature® Card has evolved to offer a more tailored rewards program that requires a strategic approach to maximize cash back benefits.