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US BANCORP

(USB)
  Report
Delayed Nyse  -  04:00 2022-09-30 pm EDT
40.32 USD   -1.01%
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09/26U.S. Bancorp Announces Third Quarter Earnings Conference Call Details
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US Bancorp : U.S. Bank introduces Altitude Go Secured and Cash+ Secured cards

10/06/2021 | 01:36am EDT
Secured cards help build or reestablish credit while earning unlimited points or cash back.

MINNEAPOLIS (October 5, 2021) - U.S. Bank has introduced the U.S. Bank Altitude® Go Visa® Secured Card and the U.S. Bank Cash+® Visa® Secured Card, both of which provide two unique benefits for cardmembers: the ability to build credit or reestablish credit while simultaneously earning unlimited points or cash back.

"Our new secured cards are similar to our award-winning Altitude Go and Cash+ cards but differ in that they are available to customers who are looking to build or rebuild their credit," said Steve Mattics, head of U.S. Bank Retail Payment Solutions. "These cards are just one of many ways we help customers work toward good credit, which is critical to building a sound financial future. With responsible use, cardmembers may be able to automatically graduate to unsecured Altitude Go and Cash+ cards."

Customers can apply for and fund the new secured cards at usbank.com, the mobile app or at their local branch. They simply start with a refundable security deposit of $300 to $5,000, which serves as the cardmembers credit limit. The cards can be used everywhere Visa® is accepted, and cardmembers have opportunity over time to build credit or re-establish credit, while earning unlimited points or cash back in the process.

The Altitude Go Secured Card allows cardmembers to earn 4X points on dining, 2X points at grocery stores, gas stations and on streaming services and 1X points on all other eligible purchases. Cardmembers are also eligible for a $15 credit for annual streaming service purchases.

Cash+ Secured Card allows cardmembers to earn 5% cash back on the first $2,000 in combined eligible purchases each quarter on two eligible categories of their choice, and earn 2% cash back on one everyday category, like Gas Stations, Grocery Stores or Restaurants, as well as 1% cash back on all other eligible purchases.

U.S. Bank will monitor the cardmembers' account and regularly report card status to the three major credit bureaus. Cardmembers may be able to automatically graduate to the U.S. Bank Altitude® Go Visa Signature® Card or the U.S. Bank Cash+® Visa Signature® Card. Upon graduation, their security deposit will be returned.

About U.S. Bank
U.S. Bancorp, with nearly 70,000 employees and $559 billion in assets as of June 30, 2021, is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. The company has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2021 World's Most Ethical Companies and Fortune's most admired superregional bank. Learn more at usbank.com/about.

Contact:

Evan Lapiska, U.S. Bank Public Affairs and Communications
evan.lapiska@usbank.com | 612-303-9122

Disclaimer

U.S. Bancorp published this content on 06 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 October 2021 05:35:02 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2022 24 243 M - -
Net income 2022 5 971 M - -
Net Debt 2022 - - -
P/E ratio 2022 10,0x
Yield 2022 4,62%
Capitalization 59 907 M 59 907 M -
Capi. / Sales 2022 2,47x
Capi. / Sales 2023 2,12x
Nbr of Employees 68 796
Free-Float 69,8%
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 40,32 $
Average target price 54,39 $
Spread / Average Target 34,9%
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Managers and Directors
Andrew J. Cecere Chairman, President & Chief Executive Officer
Terrance R. Dolan Chief Financial Officer & Vice Chairman
Jeffry H. von Gillern Vice Chairman-Technology & Operations Services
Katherine B. Quinn Vice Chairman & Chief Administrative Officer
Olivia Faulkner Kirtley Lead Independent Director
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