Cash back rewards are earned under the U.S. Bank Smartly™ Visa Signature® Card program. These rewards are earned as “Points”, and U.S. Bank will credit your U.S. Bank Smartly™ Visa Signature® Card with 2 Points for every $1 spent in eligible Net Purchases (Purchases minus credits and returns). You may earn additional Points for a Smartly Earning Bonus if you:
- Have or open a U.S. Bank Smartly® Savings account with a minimum opening deposit of $25; and
- Have a “Qualifying Balance” with U.S. Bank in open consumer Bank Smartly® Checking, and/or Safe Debit account(s). Deposits in other U.S. Bank accounts do not qualify towards the Qualifying Balance requirement. Based on your Qualifying Balance, you will earn Points according to the following Smartly Earning Bonus tiers, except for the exceptions described below:
- Between $10,000 - $49,999.99, to earn a total of 2.5 Points per $1 of eligible Net Purchases (a base of 2 Points plus the Smartly Earning Bonus of 0.5 Points),
- Between $50,000 - $99,999.99, to earn a total of 3 Points per $1 of eligible Net Purchases (a base of 2 Points plus the Smartly Earning Bonus of 1 Point), or
- $100,000 or more to earn a total of 4 Points per $1 of eligible Net Purchases (a base of 2 Points plus the Smartly Earning Bonus of 2 Points).
- Note: Account relationship exclusions apply. See Consumer Pricing Information for additional details.
Exceptions:
- Smartly Earning Bonus applies to a maximum of $10,000 in eligible Net Purchases each Card billing cycle. Eligible Net Purchases over $10,000 during each Card billing cycle will earn the base earn of 2 Points per $1 spent in Net Purchases.
- Not all Purchases are eligible to earn the Smartly Earning Bonus: Purchases classified as (1) education/school, gift cards (including discount gift card sites), insurance, or tax; (2) “business-to-business transactions” (transactions with merchants who are in the business of supplying goods and services to other businesses, such as advertising services, plumbing/heating suppliers, construction material suppliers (excluding home improvement stores), and computer programming services), even if not made for a business purpose; and (3) transactions using third-party bill payment services will earn the base of 2 points per $1 spent in Net Purchases and may not earn additional Points for the Smartly Earning Bonus. These Purchases are not calculated as part of the $10,000 cap. Each merchant’s business is identified by a category code established by Visa. A Purchase will not earn additional Points if the category code applied to a merchant is in a category that is not eligible for additional Points earning. We do not determine the category codes applied to merchants’ businesses and reserve the right to determine which Purchases qualify for additional Points.
The Qualifying Balance is determined as follows:
- At the end of each day an average Qualifying Balance is calculated. The balance is based on a 30-day average balance of all qualifying accounts and is calculated by adding together the end of day ledger balance(s) for every day in the last 30 days and dividing the total by
- 30 calendar days, or
- the number of days since opening an initial qualified account (either a consumer Bank Smartly® Checking, or Safe Debit account).
- 30 calendar days, or
- The Smartly Earning Bonus tier that is applied to your U.S. Bank Smartly credit card account is determined based upon the Qualifying Balance (as described above).
If your daily Qualifying Balance qualifies you for a tier upgrade or downgrade, you will be moved to the higher or lower tier (within 5 business days). This means that the bonus tier that will be applied to your account may vary during a Card billing cycle. The Smartly Earning Bonus is applied based on the Purchase transaction date using the effective tier value determined as of the date the transaction posts.
For joint Card accounts: The applicable Smartly Earning Bonus tier will be determined by reviewing the Qualifying Balance in the qualifying account(s) of each Cardmember (if there is more than one) and using the total Qualifying Balance of the individual whose account(s) have the highest total. (This means that all Cardmembers may be aware of the balance range of the Cardmember with the highest qualifying balance.) Balances of the Authorized User(s) will not qualify for determining the Smartly Earning Bonus tier.
Points will expire if there is no reward, Purchase, or balance activity on your Card account for 12 consecutive statement cycles. If you make a Purchase return or otherwise receive credit on a Purchase transaction, Points will be deducted from your Points balance based on the Smartly Earning Bonus tier that applies to your card account when you make the return or receive the credit.