U.S. Bank Business Essentials™ Visa® Card
- Best for: Owners who want one no-fee card that pays the same rate on everything
- What Sets It Apart: No yearly cap on its 2%, and an extra 0.5% for businesses with a $10,000 checking balance at U.S. Bank
- Welcome Offer: $500 cash back after $5,000 in purchases within 150 days; employee cards’ purchases count
- Rewards: 2% cash back on every purchase; 2.5% on the first $10,000 in eligible purchases each billing cycle with a $10,000 average balance in qualifying U.S. Bank business checking; 6% on prepaid hotels and car rentals in the Travel Center
- Features: Free employee cards; U.S. Bank Spend Management; auto rental coverage, purchase security, and extended warranty protection
- Annual Fee: $0
- Intro APR: 0% for 12 billing cycles on purchases; none on balance transfers
- APR: 16.99% to 27.99% variable
- Cost: Balance transfers 5% ($5 minimum); foreign transactions 3%; cash advances 5% ($10 minimum); late payments $41
- Pros: No cap on the 2%; no U.S. Bank account needed; free employee cards
- Cons: 3% foreign transaction fee; the 2.5% rate needs $10,000 in U.S. Bank business checking; no intro APR on balance transfers; points expire after 12 inactive statement cycles
Get the U.S. Bank Business Essentials™ Visa® Card if you want one no-fee business card that pays an uncapped 2% cash back on all your purchases. Move your business checking to U.S. Bank for the card’s 2.5% rate only if you’d keep $10,000 there anyway, since the extra 0.5% adds $50 a billing cycle at most.
U.S. Bank’s application lists sole proprietorship among the business structures it asks about, so a freelancer or side-business owner can apply. U.S. Bank says a business without an Employer Identification Number (EIN), a business tax ID, may be able to apply with the owner’s Social Security number, and the IRS issues an EIN free online in minutes.
Key Features
- Unlimited 2% cash back on purchases, or 2.5% on the first $10,000 in eligible purchases each billing cycle with a $10,000 average balance in qualifying U.S. Bank business checking
- $500 cash back after $5,000 in purchases within 150 days of account opening
- 0% for 12 billing cycles on purchases, then a variable annual percentage rate (APR) of 16.99% to 27.99%
- No annual fee
Pros
- No cap on the 2%, where the Blue Business Cash Card from American Express drops to 1% after the first $50,000 in eligible purchases each calendar year
- No U.S. Bank account needed to get the card or take its cash back as a statement credit
- Free employee cards, whose purchases count toward the welcome offer
- 6% cash back on hotels and rental cars you prepay through U.S. Bank’s Travel Center
Cons
- 3% fee on foreign transactions
- The extra 0.5% pays $50 a billing cycle at most for keeping $10,000 in checking
- No intro APR on balance transfers, which carry a 5% fee ($5 minimum)
- Points expire after 12 straight statement cycles with no purchases, rewards, or balance activity
Owners whose costs are spread across many kinds of purchases, or who charge more than $50,000 a year, get the most from its flat 2%. A business spending mostly at office supply stores, cell phone providers, and restaurants earns 3% there with U.S. Bank’s Triple Cash Rewards business card, and one that buys abroad should pick a card with no foreign transaction fee.
Learn more about the U.S. Bank Business Essentials™ Visa® Card or see how it compares to the best small business credit cards.
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