U.S. Bank Smartly™ Visa Signature® Review

Overview

The U.S. Bank Smartly is a flat 2% cash-back card that can climb as high as 4% on everything if you hold big balances with U.S. Bank. For most people it is a solid, simple 2% card; for U.S. Bank banking customers with real deposits, it becomes one of the best flat-rate cards anywhere.

So how good this card is depends entirely on your banking relationship. Without the deposits, it is a fine 2% card. With them, it is exceptional.

Our 7.1 out of 10 rating

Each score weighs the rewards rate, value after the annual fee, welcome offer, points flexibility, and perks, with every point valued at a flat 1 cent. This is our editorial assessment to help you compare cards, not a guarantee of approval or of the value you will get.

Rewards: how it earns

You earn a flat 2% on everything, and that rate rises to 3% or even 4% on all spending if you keep qualifying balances with U.S. Bank. A flat 4% on everything is genuinely best-in-class, but it takes a large deposit relationship to reach. Without it, you are earning a solid but ordinary 2%.

Every point and mile above is valued at a flat 1 cent, the same honest standard we use for every card. Run your own spending through the calculator to see what this card would actually return for you.

Pros and cons

The welcome bonus

There is no meaningful welcome bonus, which is a knock compared to most no-fee cards that give you a few hundred dollars up front.

Is it worth the annual fee?

There is no annual fee, so there is nothing to justify. The value hinges on your U.S. Bank deposits, not the fee, which means it is free to hold either way.

First-year value vs ongoing value

There is no lump-sum welcome bonus, so first-year and ongoing value are about the same, roughly $583 a year on typical spending after the fee. What you see is what you get from day one.

*First-year value counts the welcome bonus, estimated rewards, and annual credits, minus the annual fee; ongoing value is a typical year after. Every point at a flat 1 cent, on average spending.

Benefits and protections

Beyond the rewards, the perks and protections worth knowing about include:

• Earn up to 4% back on all purchases with a U.S. Bank Bank Smartly Checking relationship: 2.5% at $10,000 in deposit balances, 3% at $50,000, and 4% at $100,000 (boost applies to the first $10,000 in purchases per billing cycle)
• Redeem for statement credit, a deposit to a U.S. Bank account, gift cards, or travel

Statement credits

This card does not come with recurring statement credits. Its value is in the rewards rate and welcome offer.

Who should get it, and who should skip it

If you already bank with U.S. Bank and keep sizable balances there, the Smartly can earn up to 4% flat on everything, which is about the best simple rate in the market. That is a fantastic deal for the right customer.

If you do not have that banking relationship, it is just a 2% card with no welcome bonus, and you are better off with a flat 2% card that at least gives you a sign-up bonus. Judge it by your deposits.

Frequently asked questions

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