U.S. Bank Triple Cash Rewards Review
US Bank recently surprised us with the launch of a new business credit card, which we will review here: the U.S. Bank Triple Cash Rewards Visa® Business Card. We will cover the strengths and weaknesses of the card and what it offers to the consumer. In our U.S. Bank Triple Cash Rewards review we’ll look at the welcome offer, application rules, earning with the card, cardmember perks, and then whether or not it’s a long-term keeper.
Updated 1/29/22 with new 5% back category.
Welcome Offer
The current welcome offer for the Triple Cash Rewards Visa® Business Card is as follows:
- $500 in cash back after spending $4,500 within the first 150 days of card membership
- 0% Intro APR for purchases during first 15 billing cycles and balance transfers within first 30 days. Variable APR applies after that.
- No annual fee
- Learn More
It’s worth noting that most credit card welcome offers are for 90 days. This offer gives you 150 days to meet the spending requirement–a full 2 months extra.
U.S. Bank Triple Cash Rewards Review – Welcome Offer Restrictions
US Bank does not have any restrictions against earning welcome offer bonuses from multiple cards. Since this is a new card, everyone should be eligible for the welcome offer.
However, you should note that US Bank gives application preference to those with existing relationships with them. It is more difficult to get approved for a credit card if you don’t have a checking account, for example. See their application rules here.
Earning Structure
The U.S. Bank Triple Cash Rewards Visa® Business Card comes with the following earning structure:
- 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center.
- 3% cash back on eligible purchases at
- gas stations (for purchases $200 or less otherwise it is 1%)
- office supply stores
- cell phone service providers
- restaurants
- 1% cash back on all other eligible purchases.
- No limits on the total rewards you can earn.
- Rewards never expire.
- Learn More
It’s worth noting that the application terms say this: “Purchases of gasoline greater than $200 will not be deemed to be a purchase of automotive gasoline and as such will earn a reward of 1%.”
U.S. Bank Triple Cash Rewards Review – Cardmember Perks
There are not a ton of perks to speak of for the card but the one can be a nice perk for people that can use it. Businesses can receive a $100 annual software credit after the 11th consecutive monthly payment for business software subscriptions. The credit will work on recurring software subscription expenses such as FreshBooks or QuickBooks. That is a $100 a year for a no fee card which is pretty great if you have those expenses already.
Another big perk of the card is that the 3% cash back on some big categories is not capped, all without a fee.
Annual Fee
The U.S. Bank Triple Cash Rewards Visa® Business Card has no annual fee.
Welcome Offer Value – $500 (Net $500)
Given that there is no annual fee (which we subtract from the welcome offer value to find the true net value), your welcome offer is worth a full $500. $4,500 in spending to earn this seems a bit high, but when you factor in the allotted time, it becomes more attractive. Most welcome offers must be completed within 90 days, but you get 150 days with this card.
Summary
The Triple Cash Rewards Visa® Business Card is a straightforward card aimed at business owners who want cash back in some key categories. They get that with this card, and the fact it has no annual fee should convince anyone who is on the fence about applying for the card.
Cash back can be redeemed in the following ways:
- Statement credit
- U.S. Bank Rewards Card
- Deposited to your U.S. Bank business checking, savings, or money market account
Additionally, this card may not be the top earner in all if its key categories. What sets it apart, though, is that earning is uncapped, plus there’s no annual fee. Cards which earn higher rates in the bonus earning categories of the Triple Cash Rewards Visa® Business Card either have fees or earning caps–or both.
Long Term Keep or Cancel
For people who enjoy the earning categories or the simplicity of the rewards structure, this is a long-term keeper. Additionally, the lack of annual fee and the fact it can help with future US Bank approvals may earn it a place in your wallet.
However, for those who want to transfer points to travel partners for higher valuations on their redemptions, this card likely is not a keeper.
U.S. Bank Triple Cash Rewards Review – Conclusion
From our review of the new Triple Cash Rewards Visa® Business Card, wee see it’s a no-fee card with no frills but a quality earning structure for businesses with a lot of spending in key categories. The $100 QuickBooks credit could be very useful for some each year as well.
Since there is never an annual fee, you are able to retain the full value of the points from the welcome offer.
It is not a flashy card, and the points value is fixed, but the earning structure is worth consideration past the welcome offer period.
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Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
