Review of The US Bank 1 2 3 Rewards Visa

by Jason Steele on September 10, 2012

It has long been known that credit card users fall into two groups. There are those who carry a balance on their cards and those who pay their entire statement in full each month. While those who pay interest on their credit cards should always be looking for the lowest APR, cardholders who never carry a balance are free to seek the greatest amount rewards for their spending.  US Bank and Kroger stores offer their 1 2 3 Rewards Visa in order to help their customers earn cash back from spending.

Using the 1 2 3 Rewards Visa

New cardholders start off with a 0% APR on balance transfers and purchases for nine months. There is a 3% balance transfer fee for the first 30 days, after which the fee jumps to 4%.  At the conclusion of the introductory period, the standard APR will be equal to the Prime Rate plus 10.74% – 20.74%. Cardholders will earn one point per dollar spent on must purchases, and 2 points per dollar at Kroger stores. Three points per dollar are earned when purchasing Kroger branded merchandise at Kroger stores. Each time customers earn 1,000 points, they will receive a certificate good for $5 in free groceries. Customers will also save an additional 25 cents per gallon for the first three months when they redeem 100 fuel points at Kroger store’s fuel centers.


This card does offer an introductory financing offer that is only 9 months long, but is valid on new purchases and balance transfers. However, this card doesn’t really offer any sign up bonus beyond the 25 cent per gallon discount on gasoline, and even that is dependent on accumulating and redeeming fuel points. The nine month promotional financing is shorter than average, but the rate of return on the rewards program is truly sub-standard. Based on the number of points received, the program appears to offer modest value until one realizes that points are only worth one half of a cent each. Ultimately, most purchases will only return .5% in value at their stores, and even that is for certificates that are not valid at their fuel centers.

This card is for those people who find that some reward is better than nothing, but are not willing to look at other competing cards.  By offering modest introductory financing and negligible rewards, US Bank has created a reward card that has not kept up with the market leaders.

You can learn more about this and other US Bank offers in the US Bank credit card section of is an independent, advertising-supported comparison service. receives compensation from the credit card issuers whose credit card offers appear on the website. The compensation may impact the order in which they appear within listing categories. does not include the entire universe of available credit or financial offers. Our editors rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. The Editor's Picks credit cards are the expert opinion of our editors, and not influenced by any remuneration this site receives from card issuers.
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Editor's Note: This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed here are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by the Citi or any of the other companies whose products are featured in this content.

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