U.S. Bank Triple Cash Rewards Card

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A new card for small business owners just recently hit the market and it’s a card you may want to consider if you’re interested in earning cash back. U.S. Bank’s new business card, the Triple Cash Rewards card, offers 3% cash back on four categories where businesses tend to spend the most.

Earning Cash Back 

When using the U.S. Bank Triple Cash Rewards card, you’ll earn 3% cash back on any purchases you make that fall within the below categories: 

• Gas
• Cell phone services
• Office supplies
• Dining

Spending on anything outside of these categories will earn you a flat 1% cash back. 

Current Welcome Offer

U.S. Bank is currently offering $500 in cash back after spending $4,500 on the Triple Cash Rewards card in the first 150 days of opening your account. Note that the minimum spend has to be met on the account owner’s card and not an employee card. While the cashback offer isn’t huge, this is a card that doesn’t require you to meet as high of a minimum spend as other business cards out there, so you’ll be able to earn your cash back after fewer expenses. 

Rates and Fees

The U.S. Bank Triple Cash Rewards card doesn’t have an annual fee, making it an appealing option for business owners. Another benefit to this card is the 0% APR for the first 15 billing cycles which can be useful if you have business expenses that you may need to pay for over an extended period of time. After the 15 billing cycles, the APR adjusts to a variable rate ranging from 13.99% to 22.99%.

Other Benefits

With the U.S. Bank Triple Cash Rewards card, you’ll also earn a $100 statement credit for software subscriptions like Quickbooks. Software subscriptions are determined to qualify for this credit based on the merchant code at the time of your purchase. If your business already subscribes to this type of software, this is an easy $100 to earn. You’ll receive this statement credit after the 11th consecutive month of paying for your software subscription. This means that you won’t be eligible for the credit with a one-time software purchase because it has to be a monthly subscription. 

There also appear to be two versions of this credit card: a Visa and a World Elite Mastercard. If you apply directly for the card directly on the U.S. Bank website you’ll be signing up for a Visa, but if you apply through an affiliate link, you’ll be signing up for a World Elite Mastercard. If you’re interested in applying for this card, I’d recommend the World Elite Mastercard because of the additional benefits that come with that type of card. Here’s a list of some of those benefits: 

• First three months of DoorDash free
• 5% cash back on every HelloFresh order
• $5 Lyft credit after your first three rides each month
• Free ShopRunner membership that gets you free two-day shipping and free returns
• $1,000 in yearly cell phone protection coverage when you pay your cell phone bill with your World Elite Mastercard
• Access to the Mastercard luxury hotel and resorts portfolio that rewards you with amenities and upgrades at thousands of properties

Redeeming Cash Back

Once you’ve earned your cash back, you can redeem your earnings in three ways; as a statement credit, loaded onto a U.S. Bank Rewards card or deposited into your U.S. Bank business checking or savings account. 

Final Thoughts

If you’re looking for strictly a cashback earning credit card for your small business, the U.S. Bank Triple Cash Rewards card is a good option that offers a $500 cash back welcome bonus after $4,500 in spending, 3% cash back on four major purchase categories, 0% APR for the first 15 billing cycles and a $100 software subscription credit. 

This is a good card to consider if your business spends significantly on gas, office supplies, cell phone services and dining. That way you can maximize this card’s 3% cash back earning rate. If those categories aren’t where your business spends the most, you may want to consider a different business credit card that has a higher earning rate across the board and is not just limited to specific categories. 

For instance, the Capital One® Spark® Cash for Business card is a good alternative that is offering the exact same welcome bonus of $500 after spending $4,500 in the first three months of account opening. This card’s earning rate is a flat 2% on every purchase and is not restricted by certain categories. The only difference is that after the first year of the annual fee being waived, you’ll have to pay the $95 annual fee. 

Ultimately, the choice for your small business cashback card will require you to assess your spending habits to take advantage of cards with the best earning rate and welcome bonus.