This card offers a wide range of useful benefits, ranging from unlimited rewards to an introductory APR offer and more.
Up to 3% cash back
Cardholders earn unlimited 1% cash back on purchases. Plus, you’ll earn up to 3% cash back on qualifying bonus category purchases.
Business-friendly bonus categories for the US Bank Triple Cash Rewards Visa® Business Business Card include:
- Service stations
- Office supply stores
- Mobile phone service providers
The cash back bonus is also unlimited, so there is no cap on how much you can earn for your qualifying purchases. Cash back rewards do not expire as long as your account remains open and in good standing.
You can redeem your cash back rewards directly from your online account as a credit on your credit card statement or as a deposit to an eligible US bank account.
$500 sign-up bonus
The US Bank Triple Cash Rewards Visa® business card offers a very competitive sign-up bonus. New cardholders can earn a whopping $500 cash back for spending $4,500 on their card within the first 150 days of opening an account.
Not only is the size of the bonus excellent, but so is the time you have to earn it. Instead of the standard 90 days, you’ll get 150 days. This makes it much easier for even smaller businesses to meet the spend requirement and score a bonus.
$100 annual software statement credit
No matter what type of business you run, chances are you have at least one or two recurring software subscriptions. The US Bank Triple Cash Rewards Visa® Business Card comes with a $100 annual statement credit for qualifying purchases from qualifying software service providers. This includes popular bookkeeping services like FreshBooks and QuickBooks.
Statement credit will be automatically applied to your account after you have made 11 consecutive qualifying monthly purchases. And as an annual credit, you can earn it year after year. Not bad for a $0 annual fee card!
Intro 0% APR on purchases and balance transfers
While 0% APR intro offers are common for personal credit cards, they’re a bit harder to come by in the business card world. But the US Bank Triple Cash Rewards Visa® Business Card comes with one of the best deals we’ve seen.
You can get 0% APR on new purchases and balance transfers for the first 15 months. Once the introductory period is over, your balances will revert to the benchmark APRs listed in the Schumer box of your card’s terms and conditions.
No annual fee
One of the most surprising things about the US Bank Triple Cash Rewards Visa® Business Card is that it has no annual fee. With all that going on, the US Bank Triple Cash Rewards Visa® Business Card could get away with an annual fee. The software credit alone would make an annual fee of less than $100 still worth paying. So the fact that it has a $0 annual fee makes this card a top option.
What could be improved
With so many advantages, it stands to reason that this card also has some disadvantages. However, most are pretty normal for a small business credit card.
Foreign transaction fees
The main downside of the US Bank Triple Cash Rewards Visa® Business Card is that it comes with a 3% foreign transaction fee. These fees may be charged each time you make a purchase in a foreign currency. Foreign transaction fees are also charged when you make a purchase in any currency transiting through a foreign bank.
This means you won’t want to use your card when traveling abroad. You may also want to avoid using your US Bank Triple Cash Rewards Visa® business card to make purchases from foreign vendors, even if those purchases are in US dollars.
APR penalty for late payment or overspending
We’re all late sometimes, but you might want to be extra careful with your US Bank Triple Cash Rewards Visa® Business Card. You will want to pay attention to your credit limit.
The card comes with a penalty APR that comes into effect if you:
- Make two payments more than five days late
- Make a payment more than 30 days late
- Make a payment that is returned
- Exceed your credit limit twice in 12 months
The APR penalty will remain in effect until you make at least six consecutive on-time payments of at least the minimum payment amount. You also cannot go over your credit limit during this time.
Personal deposit required
As with most small business credit cards, the US Bank Business Triple Cash Rewards Visa® Card will require a personal guarantee. This means that you personally accept responsibility for paying off your business credit card, no matter what.
In other words, even if your business goes bankrupt, you are still personally responsible for paying off your US Bank Visa® Triple Cash Rewards business card balance. If you default on the card, your personal credit could be negatively affected.