Limitations of the DFT+U approach (e.g., in Dudarev's formulation) applied for accurate evaluation of redox potentials of cathode materials of alkali-ion batteries with U parameters calculated via the linear response (LR) method are discussed. In contrast to our previous studies, where redox potentials of several cathode materials have been calculated in a good agreement with experiment (e.g., NaMnO2, LiFePO4, and LiTiS2), herein, we analyze other cathode materials, such as LiNiO2 and Ni- and V-containing phosphates for which this method provides much underestimated redox voltages. We ascribe this limited predictive power of the DFT+U method, parameterized via LR, to the absence of corrections of Coulomb interactions between the electrons with opposite spins. Using the recently proposed extended DFT+U+U↑↓ functional, which includes the aforementioned corrections, we show how redox potentials of Ni- and V-based compounds could be calculated in a much better agreement with experiment, also proposing a procedure of parameterization of such calculations. Thus, our extended method allows us to calculate redox potentials of several important materials more accurately while retaining good agreement with experiment for structures where the standard DFT+U method also accurately predicts electrochemical properties.