| Last updated on November 17th, 2023
U.S. Bank Business Cash Rewards World Elite Mastercard
U.S. Bank Business Cash Rewards World Elite Mastercard
- 19.24% to 28.24% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 19.24% to 28.24% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 29.99% variable based on the Prime Rate Cash Advance APR
- 0% for 15 months from account opening date Intro Purchase APR
At a Glance
The U.S. Bank Business Cash Rewards World Elite Mastercard offers companies 3% cash back on everyday purchases, such as spending at gas stations, restaurants, or when buying office supplies. Cardholders also receive 1% cash back on all other purchases. New account holders also earn $500 cash back when they spend $4,500 on purchases in the first year.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- 25% annual bonus based on your cash rewards - up to $250
- No expiration on cash back earned or the total rewards you can earn
- 0% introductory APR for 15 months on purchases and balance transfers
- Earn 3% cash back on eligible gas station, office supply store, and cell phone/service provider purchases
- Intro Purchase APR: 0% for 15 months from account opening date
- Regular Purchase APR: 19.24% to 28.24% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for the first 15 billing cycles for balances transferred within 30 days from account opening
- Balance Transfer APR: 19.24% to 28.24% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
- Cash Advance APR: 29.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
- Penalty APR: 29.99%
- Foreign Transaction Fee: Up to 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: $40
- Return Payment Penalty Fee: $40
- Over Limit Penalty Fee: Up to $39
- Minimum Deposit Required: N/A
- You want a cash back rewards card that offers solid rewards and an annual bonus
- You have excellent credit
- You want online card monitoring tools and extra employee cards at no added cost
The U.S. Bank Business Cash Rewards World Elite Mastercard Review
The U.S. Bank Business Cash Rewards World Elite Mastercard is a cash back rewards business card that offers companies generous earnings. The card, which features no annual fees and a standard APR that is competitive with other similar cards, offers members 3% cash back on everyday business purchases, such as gas and office supplies, and 1% cash back on everything else.
New U.S. Bank Business Cash Rewards World Elite Mastercard members earn $500 cash back when they spend $4,500 in purchases within the first 150 days of opening the account. Many business rewards cards have an introductory spend bonus that lasts three months, whereas this card has one that offers five months to meet the minimum spend requirements. While the spending requirement with this card may seem high, it equates to $900 per month, which isn’t too tall an order, especially when U.S. Bank offers additional employee cards at no extra cost.
Cardholders also receive an annual bonus of 25% cash back on their prior year’s cash rewards – a value of up to $250. There is also no expiration on cash back or limits on the total amount of rewards earned, meaning businesses have the freedom to redeem their rewards as they earn them, or stockpile them for use at a later date (perhaps to reward a lucky employee with a lavish trip).
Before the standard APR kicks-in, cardholders are treated to an introductory 0% APR on purchases and balance transfers for 15 months. While the typical APR is dependent on the creditworthiness of the business and the Prime Rate, companies with an excellent credit score can expect an APR several points below the national average for purchases, which currently rests at around 17%. The card also boasts no annual fee and a 3% transaction charge (or $5, whichever is greater) on balance transfers.
U.S Bank also offers dedicated 24/7 customer service and a slew of security protections to keep businesses safe – including total protection from fraudulent purchases or suspicious activity on the account, comprehensive fraud monitoring, chip technology, and more. Companies are also provided with help to monitor and control employee spending with their cards through online tools. The card also benefits from World Elite Mastercard perks and benefits.
Should You Apply for the U.S. Bank Business Cash Rewards World Elite Mastercard?
The U.S. Bank Business Cash Rewards World Elite Mastercard is a solid option for small to medium-sized companies looking for a cash back rewards card that rewards those with excellent credit.
The introductory APR period, followed by a competitive APR after that, means companies don’t have to worry about interest payments stacking up for the first 15 months, while after the intro period ends, they won’t be excessively burdened should they choose to carry a balance. Additionally, the $500 cash back bonus is an easy goal to achieve, given it requires just $900 per month in spending, and U.S. Bank offers complimentary employee cards.
The lack of an annual fee, combined with the solid cash rewards and introductory bonuses, make this a dependable option for companies that prefer to earn their rewards as cash back, and like getting an annual bonus for their loyalty to their card company.
Other business credit cards to consider include Chase’s Ink cards, including the Chase Ink Business Cash and the Ink Business Unlimited – both excellent cash back options that feature no annual fee. The Ink Business Preferred also offers value but earns Ultimate Rewards points and not cash back.
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