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U.S. Bank Business Cash Rewards World Elite™ Mastercard® Review

At a Glance
U.s. Bank Business Cash Card Art 6 8 21
4.0 / 5
Rating

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U.S. Bank Business Cash Rewards World Elite™ Mastercard®

  • Sign-Up Bonus: Earn $500 bonus cash when you spend at least $3,000 in eligible net purchases on a single card in the first 90 days
  • Rewards: Up to 3% cash back on cellular, gas, and office supply purchases; unlimited 1% cash back on all other eligible purchases
  • Benefits: 25% bonus on cash back rewards earned each year, up to $250 max bonus; Automatic discounts and deals through Mastercard Easy Savings; Business account management and reporting tools
  • Intro APR: 0% APR for 12 billing cycles on balance transfers, then variable regular APR applies (currently 13.99% to 22.99%)
  • Fees: 2% to 3% foreign transaction fee
  • Annual Fee: $0
  • Credit Needed: Good to Excellent
  • Terms and Conditions Apply: see rates & fees

Advertiser Disclosure: This post includes references to offers from our partners. We receive compensation when you click on links to those products. However, the opinions expressed here are ours alone and at no time has the editorial content been provided, reviewed, or approved by any issuer.

U.S. Bank Business Cash Rewards World Elite™ Mastercard® hasn’t yet found its way onto our list of the best small business credit cards for U.S.-based professionals, but it’s a perennial contender. This straightforward cash back credit card returns up to 3% on spending in three popular business spending categories – an excellent, annual-fee-free opportunity to cut business operating expenses and strengthen your bottom line.

U.S. Bank Business Cash Rewards isn’t perfect. It lacks many of the value-added benefits that premium business credit card users expect. But if you’re seeking a no-frills cash back option that pays you back for the purchases you’d make anyway, you owe it to yourself to take a closer look.

Key Features

These are the key features of the U.S. Bank Business Cash Rewards card.

Sign-up Bonus

When you spend at least $3,000 in eligible net purchases within 90 days (3 months) of opening your account, you’ll earn a $500 cash bonus.

Earning Cash Back Rewards

U.S. Bank Business Cash Rewards earns up to 3% cash back on eligible net purchases in three categories: cellular, gas, and office supply stores. All other eligible purchases earn unlimited 1% cash back. There’s no limit to your total cash back earnings. Once earned, rewards remain valid as long as your account remains open, active, and in good standing.

Redeeming Cash Back Rewards

You can redeem your accumulated cash back rewards for U.S. Bank account deposits, statement credits, and gift cards, subject to the terms and restrictions of U.S. Bank’s cash back program.

Annual Cash Back Bonus

Each year, you get a 25% bonus on cash back earned during the previous year. If you earned $100 in cash back, you’d get a $25 bonus, for total annual cash back earnings of $125. This benefit is capped at $250 annually. If you earn more than $1,000 cash back in a given year, your bonus will be stuck at $250.

Additional Business Benefits

Business Cash Rewards’ additional benefits include:

  • Overdraft Protection for U.S. Bank Deposit Account Holders: If you’re already a U.S. Bank business deposit account holder, or willing to open one at some point after applying for your Business Cash Rewards card, you can use your credit card to protect against deposit account overdrafts. Simply link your deposit account with your credit card and opt into U.S. Bank’s overdraft protection program. Once opted in, deposit account transactions that would have previously resulted in overdrafts or NSF transactions are executed like normal, then offset by cash advances drawn on your credit card’s cash advance line in $50 increments. In most cases, each transfer incurs a fee to your credit card and deposit account, though some high-end deposit accounts with higher monthly maintenance fees don’t have daily overdraft fees. Overdraft protection transfers begin to accrue interest at the cash advance rate as soon as they’re made, so it’s in your best interest to pay them off as quickly as possible.
  • U.S. Bank Connect: U.S. Bank Connect is a community-based resource by and for small business owners. It’s a great place to find advice about launching, growing, and running a business or professional practice. Insights gleaned here could prevent costly mistakes down the road.
  • Mastercard Business Network: Similar to U.S. Bank Connect, but more expansive (and useful) in its scope, Mastercard Business Network is a powerful resource for small business owners. Features include a point of sale tool (Elavon), various business efficiency tools, and exclusive or preferred event access through Mastercard Priceless Cities.
  • Mastercard Easy SavingsMastercard Easy Savings is a savings network exclusively for MasterCard-backed business cardholders. You’ll find discounts from dozens of popular national brands here. Cuts typically range from 3% to 5%, but you’ll find much deeper deals in isolated cases. Once you register your card, discounts are automatically applied at the point of sale – no manual redemptions or coupon code entries required.

Account Management and Expense Tracking Tools

This card has some additional account management and expense tracking tools:

  • Employee Card Controls. This feature allows you to control “how, where, and when your employees can use their cards.” You can limit employee activity by merchant type (for instance, office supplies only), dollar amount, transaction type, geographical area, time and day of week, and more.
  • Choose Your Own Statement Due Date. You don’t have to settle for your preset statement due date. Instead, choose the statement due date that best fits your company’s needs. You can change your selection at any time.
  • Account Alerts. Create and customize account alerts for important events, such as large purchases made on employee cards or overlimit transactions. This feature is especially helpful for accounts with lots of authorized users.
  • Auto Pay and Accelerator. With auto pay, you no longer need to worry about missing payments or paying past your statement due date – simply set a date for your payment to execute each month and enjoy true peace of mind. For balance-carriers, the Accelerator feature lets you pay above the minimum or increase the frequency of your payments (as often as weekly) to pay down interest-bearing balances faster.
  • Expense Tracking and Categorization. Use this feature to track and separate business and personal expenses with customized tags.

Introductory APR

There is a 0% APR introductory promotion on purchases and balance transfers for 12 billing cycles following your account opening date. Once the promotional period ends, the regular variable APR applies, currently 13.99% to 22.99%.

Important Fees

There is no annual fee or fee for additional employee cards. Foreign transactions cost 2% when denominated in U.S. dollars and 3% when denominated in foreign currency. Terms and conditions apply — see rates & fees.

Credit Required

This card requires good to excellent credit.

Advantages

  1. No Annual Fee. U.S. Bank Business Cash Rewards has no annual fee. That’s great news for frugal cardholders who don’t want to lose any of their hard-earned rewards to a recurring levy simply for the privilege of keeping this card in their wallets.
  2. Nice Sign-up Bonus. When you spend at least $3,000 in eligible net purchases within 90 days of opening your account, you’ll get a $500 cash bonus. That’s a very nice return on early spending.
  3. Up to 3% Cash Back on Select Purchases. This card earns up to 3% cash back in three broad spending categories: gas, cellular, and office supply stores. Millions of business owners spend heavily in these three categories. If you align your spending properly and use a different credit card for non-favored purchases, you can earn the bulk of your Business Cash Rewards’ cash back in this tier alone.
  4. Annual Cash Back Bonus Worth Up to $250. You’re entitled to an annual cash back bonus of up to $250 every year you remain a cardholder in good standing. You don’t need to do anything to claim the bonus – just spend as usual and watch the rewards roll in.
  5. Savings Opportunities Through Mastercard Easy Savings. The complimentary, automatic Mastercard Easy Savings program is a low-stakes way to boost your return on spending with this card. Dozens of national chains participate. All you have to do is enroll your card and spend as usual.
  6. 0% APR for 12 Billing Cycles on Purchases and Balance Transfers. U.S. Bank Business Cash Rewards has a 12-billing-cycle, 0% APR introductory promotion on balance transfers. If you’re planning a major investment in your business or simply want some temporary breathing room before paying for run-of-the-mill outlays, this feature is worth remembering.
  7. Useful Business Benefits. This card has a slew of helpful business benefits. Even those that don’t directly impact cardholders’ bottom lines are worth checking out – for instance, U.S. Bank Connect is a great place to glean insights and advice from business owners who’ve been around the block.

Disadvantages

  1. Low Baseline Cash Back Rate. This card’s baseline cash back rate is low – just 1% on most purchases. If your spending runs the gamut and you don’t want to shortchange any portion of it, look into flat-rate competitors, such as Capital One Spark Cash for Business, which earns unlimited 2% cash back on all eligible purchases.
  2. 2% to 3% Foreign Transaction Fee. If you regularly travel outside the United States, you’re not going to like this card’s foreign transaction fee. Look to a fee-free competitor, such as Chase Ink Business Preferred.
  3. Penalty Interest Charges on Past-Due Balances. Cardholders who occasionally miss payment deadlines due to cash flow issues or unexpected expenses must be prepared to incur penalty interest charges on this card. If you’re not confident in your ability to consistently pay your bills on time, look to a competitor that doesn’t charge penalty interest.

Final Word

U.S. Bank Business Cash Rewards World Elite™ Mastercard® likely won’t win awards for its generosity or innovativeness in its current form. It’s a classic business cash back card with a relatively straightforward rewards program and a solid lineup of business benefits, including the discount-rich Mastercard Easy Savings Network. For many business owners, it’s all the credit card they need.

Verdict
U.s. Bank Business Cash Card Art 6 8 21
4.0 / 5
Rating

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U.S. Bank Business Cash Rewards World Elite™ Mastercard®

U.S. Bank Business Cash Rewards World Elite™ Mastercard® is ideal for light to moderate spenders who can accommodate the three favored categories: office supplies, gas, and cellular. Thanks to the 12-month introductory APR promotion on purchases and balance transfers, it’s also a helpful financing tool for business owners planning large purchases or dealing with existing debt. On the other hand, this card isn’t appropriate for frequent international travelers.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Brian Martucci
Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he's not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.

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