U.S. Bank Business Cash Rewards Card

Andrew Reyes  | 
  • Annual percentage rate (APR): 11.99% to 23.99%.
  • Purchase intro APR: 0% for 15 months.
  • Balance transfer APR: 0% for 15 months.
  • Rewards: 1% – 3% cash back; $500 bonus; 25% annual bonus.
  • Annual fee: None.
  • Late fee: 29.99% APR plus $19 to $39.
  • Credit score: Very Good to Excellent (740-850).
  • Compare cards here.

Benefits

  • Generous cash-back rewards: The U.S. Bank Business Cash Rewards World Elite Mastercard comes with 3% cash back when you or an employee use it at gas stations, office supply stores, and cell phone service providers. On top of that, a 1% cash-back rate applies to all other eligible purchases. These rewards are unlimited.
  • Big bonuses: Not only does this card reward users for everyday purchases, it provides bonuses including $500 if you spend $4,500 in the first 150 days after opening the account. Keep the card and remain in good standing for more than a year, and you’ll get an anniversary bonus equal to 25% of the previous year’s cash-back rewards. For example, if you earn $1,000 in cash back in the first year, you’ll receive a $250 bonus on the anniversary of opening the card account.
  • Intro and balance-transfer APR: A small business will find this card’s APRs advantageous. To cover some startup costs, you’re able to make purchases for the first 15 months without paying interest as you raise funds to pay down the balance. Transferring a balance from another card will cost you nothing for the first 15 months as well.
  • No annual fee: While plenty of other cash-back cards and business cards tack on an annual charge, the U.S. Bank Business Cash Rewards Card does not.
  • User experience: This card comes with some UX highlights that could be beneficial to businesses. You’re able to track spending with a free online tool, protect you and your employees’ cell phones with up to $1,000 in insurance coverage per year, and maintain security through zero fraud liability. If someone uses the card fraudulently, you’re not responsible because U.S. Bank has you covered.  

Drawbacks

  • Compounding late fees: Users who make late payments or miss payments entirely will incur a variety of consequences. A late payment could cause the 0% intro APR to end, resulting in a penalty APR of 29.99%. Additionally, graduating fees of $19, $29, and $39 apply to late payments on balances up to $100, between $100 and $250, and over $250 respectively. Use the card responsibly, though, and you won’t have any problem with these fees.
  • Credit requirements: You need excellent credit (800 to 850) to qualify for this card; if you have very good (740 to 799) — but not excellent — credit, you still might qualify, but you won’t receive the best terms.  

What Can You Expect From the U.S. Bank Business Cash Rewards Card?

If you’re interested in the U.S. Bank Business Cash Rewards World Elite Mastercard, expect the following ins and outs as you use the card.

Customer Service

U.S. Bank, which has been named one of the “World’s Most Ethical Companies” by Ethisphere, provides 24/7 customer service in case you lose a card, are a victim of fraud, or simply have a question.

Tech Solutions

Need to track your business spending on this card? U.S. Bank has an online tool for that. Need other payment options? The Business Cash Rewards World Elite Mastercard will sync with Apple Pay, Samsung Pay, and Google Pay. You can use your smartphone to manage the card through U.S. Bank’s app, and the cell phone protection plan ensures you’ll be able to continue doing so.

Designed to Help Your Business Grow

The Business Cash Rewards World Elite Mastercard allows you and your employees to earn unlimited 3% cash back for purchases that are essential to most businesses — cell phones, gas, and office supplies. With unlimited 1% cash back for everything else, you’ll earn money to pour back into your business no matter what you buy.

Moreover, if you need to make plenty of purchases to ramp up your business once you open the credit account, you’ll earn a generous $500 bonus for $4,500 in spending within the first five months. You’ll also be able to carry a balance without paying interest for the first 15 payment cycles as long as you make the minimum payments.

You’re encouraged to earn rewards and keep the account in good standing with a 25% rewards bonus of no more than $250 on the anniversary of opening the account. You can cash in your rewards by receiving a deposit in a U.S. Bank account, a rewards card, or a statement credit. And, with no annual fee, the World Elite Mastercard won’t break the bank.  

Who Should Get the U.S. Bank Business Cash Rewards Card?

The Business Cash Rewards World Elite Mastercard is perfect for business owners who have excellent credit and account management skills. Even if you don’t have excellent credit, you may qualify with very good credit, and you’ll still earn great rewards with no annual fee attached.

Since there is a foreign transaction fee, the card may not be best for those who want to use it abroad. To earn the gas rewards, you’ll need to buy fuel at stores that are considered gas stations, not convenience stores or supermarkets, which might get a little confusing.

Advantageous use of this card requires on-time payments. Therefore, prospective applicants should consider their ability to remain in good standing before racking up a balance.  

Compare other business credit cards and learn more here.


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