The news: U.S. Bank will roll out the Shopper Cash Rewards Visa Signature credit card—which gives cardholders cash-back rewards at their favorite retailers and on everyday purchases—on October 24, per a press release.
Why it’s worth watching: U.S. Bank’s Shopper Cash Rewards card emphasizes choice and flexibility—features consumers highly value when it comes to earning cash-back rewards. Twenty-nine percent of respondents in our US Cash-Back Credit Card Emerging Features Benchmark said earning rotating rewards based on their categories of choice was “extremely valuable.”
The big takeaway: U.S. Bank’s Shopper Cash Rewards card offers in-demand cash-back features that will likely appeal to consumers who value choice and are looking for ways to offset high prices on everyday purchases. The card is also launching at an opportune time as consumers gear up for holiday shopping. These factors could help reinvigorate U.S. Bank’s card fee revenues, which declined 0.5% year over year in Q3.
This article originally appeared in Insider Intelligence's Payments Innovation Briefing—a daily recap of top stories reshaping the payments industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.
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