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Business credit cards are a great option for those who want to get a new card (and maybe a new sign-up bonus) without taking a hit to their personal credit score. They’re also a good way to keep your personal and business expenses separate, which can make your life a whole lot easier come tax season. And, believe it or not, even freelancers and gig economy workers are eligible for business credit cards.
In terms of the small business credit cards offered by U.S. Bank (a lesser-known issuer compared to companies like Chase or American Express), the cream of the crop is the U.S. Bank Triple Cash Rewards Visa® Business Card. This card has no annual fee and comes with some amazingly valuable bonuses and benefits. You’ll earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants. Plus, you can also earn 5% cash back on prepaid hotels and rental cars booked directly through the Travel Rewards Center. Apart from that, you’ll earn 1% cash back on all other purchases. These are some pretty great rewards for a card that doesn’t charge an annual fee.
To sweeten the deal even more, the U.S. Bank Triple Cash Rewards Visa Business Card comes with a yearly $100 statement credit toward recurring software subscription expenses such as FreshBooks or QuickBooks. So, if your business is already praying for one of these subscriptions, signing up for the Triple Cash Rewards Business Card is pretty much a no-brainer.
But, there are a lot of business credit cards out there to choose from, and there might be a better card out there for you depending on your business’s financial situation. So, in this article, we’re going to look at all the benefits and drawbacks of the Triple Cash Rewards Visa Business Card and compare this card to other business cards on the market.
| Pros | Cons |
| No annual fee | Charges foreign transaction fee |
| Great spending bonuses | |
| Valuable welcome bonus | |
| $100 software subscription statement credit |
U.S. Bank Triple Cash Rewards Visa® Business Card Spending Bonuses
As far as no-annual-fee business credit cards go, the U.S. Bank Triple Cash Rewards Visa Business Card has some of the best spending bonuses in the industry. This card rewards you in certain categories where many businesses tend to spend a lot of money, such as at the gas pump or at office supply stores. Here’s a full breakdown of the spending bonuses offered by the U.S. Bank Triple Cash Rewards Visa Business Card:
- 5% cash back on prepaid hotels and rental cars booked directly through the U.S. Bank Travel Rewards Center
- 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants
- 1% cash back on all other eligible purchases
By industry standards, these cash back rates are very impressive for a card that doesn’t charge an annual fee. For instance, the Bank of America Business Advantage Customized Cash Rewards Mastercard Credit Card (which is considered to be one of the best no-annual-fee business cards on the market) offers 3% cash back in one category of your choice, but you can only earn that cash back rate on up to $50,000 per year. With the U.S. Bank Triple Cash Rewards Visa Business Card, you can earn unlimited 3% cash back in multiple categories.
Unfortunately, if you aren’t spending at gas stations, EV charging stations, office supply stores, cell phone service providers, restaurants or through the Travel Rewards Center, the baseline cash back rate of 1% is pretty lackluster. If you’d prefer to earn a flat cash back rate on all purchases, you might want to consider going with a card like the Chase Ink Business Unlimited® Credit Card, which offers unlimited 1.5% cash back on all purchases.
U.S. Bank Triple Cash Rewards Visa® Business Card Benefits
Aside from the great spending bonuses, the U.S. Bank Triple Cash Business Card also comes with some valuable benefits that make it even more attractive. In particular, this card offers a statement credit for software subscriptions worth up to $100 per year. Considering that it doesn’t charge an annual fee, that means that this card can offer instant value as soon as you sign up.
No Annual Fee
The U.S. Bank Triple Cash Rewards Visa Business Card doesn’t charge an annual fee. That means it’s a good option for people who don’t want to worry about offsetting an annual fee by earning a certain amount of rewards. With the Triple Cash card, you’ll be saving money from the moment you earn your first cent of cash back.
Another great advantage of no-annual-fee credit cards is that you can keep them open at no cost even if you decide that you want to shift most of your spending to another card. Closing credit cards can have a negative effect on your credit score. So, if you decide at some point in the future that you no longer want to use your Business Triple Cash card, you can still keep it open without worrying about having to pay an annual fee.
$100 Software Subscription Statement Credit
When you sign up for the U.S. Bank Triple Cash Business Card, you’ll be entitled to a $100 annual statement credit toward eligible software service purchases made directly with a software service provider. Third-party purchases (including purchases made from discount/retail stores or online retailers) may not be eligible for this statement credit. This statement credit will be applied automatically to your account within two statement billing cycles of your purchase.
This is an amazing perk for a card that doesn’t charge an annual fee. If you already pay for one of the eligible software subscriptions covered by this statement credit, then you’ll essentially be receiving $100 in value from your Triple Cash Business Card as soon as you sign up.
Welcome Bonus
On top of all the other great perks associated with this card, the U.S. Bank Triple Cash Rewards Visa Business Card offers a valuable welcome bonus for new card members. In order to receive this welcome bonus, you’ll need to spend a certain amount of money in a certain amount of time after account opening.
If you do decide to sign up for the Business Triple Cash card, we highly recommend trying to earn this welcome bonus as it’s a great way to rack up a lot of cash back quickly.
U.S. Bank Triple Cash Rewards Visa® Business Card Drawbacks
The U.S. Bank Triple Cash Rewards Visa Business Card is one of the best no-annual-fee cards for business that you can get. However, this card is not without drawbacks. In particular, if you often make transactions in foreign countries, you might want to look into other options.
Charges Foreign Transaction Fees
One major disadvantage of the Triple Cash Visa Business Card from U.S. Bank is that it charges a fee of 3% for transactions made outside of the United States, including purchases and ATM advances. Most small business credit cards do charge a foreign transaction fee. However, there are some that don’t.
For example, the Bank of America Business Advantage Travel Rewards World Mastercard® credit card doesn’t charge a foreign transaction fee. However, it’s worth noting that this card is specifically geared toward travel. Most general business credit cards will have a foreign transaction fee of 3%.
Other Cards to Consider
While the U.S. Bank Triple Cash Rewards Visa® Business Card is certainly one of the best options available to business owners, there are still many other no-annual-fee business cards worthy of consideration. So, before you sign up for the Triple Cash Visa Business Card, let’s take a look at some other cards you may want to consider.
The Blue Business® Plus Credit Card from American Express
If you don’t want to pay attention to bonus categories and you’d rather earn flat-rate rewards on your business spending, then you may want to consider The Blue Business® Plus Credit Card from American Express. This card offers 2X Membership Rewards points on all purchases up to $50,000 per year. After that, you’ll earn 1X Membership Rewards points on all purchases. With this card, you can rest assured you’ll be earning the same rewards no matter what you’re spending your money on.
One of the biggest advantages of this card is that Membership Rewards can be redeemed in many ways, some of which offer far more than 1 cent per point in value. Additionally, American Express allows you to transfer Membership Rewards points to their partner travel programs, which can often result in redemptions that offer outsized value.
The Blue Business Plus card doesn’t currently offer any statement credits.
Bank of America Business Advantage Customized Cash Rewards Mastercard Credit Card
Another great option for those looking for a no-annual-fee small business card that offers cash back rewards is the Bank of America Business Advantage Customized Cash Rewards Mastercard credit card. This card offers 3% cash back on the category of your choice and 2% cash back on dining up to a combined $50,000 in spending per year. You’ll also earn 1% cash back on all other purchases. The categories that you can choose to earn 3% cash back on include gas stations, office supply stores, travel, TV/telecom and wireless, computer services and business consulting services.
The ability to customize your cash back earnings means that you can get rewarded the most where you spend the most money. So, for instance, if the majority of your expenses are for business consulting services, then this is probably the best card for you because most other cards don’t offer 3% cash back in this category.
If you really want to take full advantage of this card, though, you should open a business checking account with Bank of America because you’ll get a boost of up to 75% to all of your cash back earnings, depending on how much you spend yearly. Effectively, that means that your rewards could be as high as 5.25% cash back in the category of your choice, 3.5% cash back on dining and 1.75% cash back on everything else. In terms of no-annual-fee business cards, those earnings are pretty much unbeatable.
However, in our opinion, the U.S. Bank Business Triple Cash card is still a better option for most businesses than the Bank of America Business Advantage Customized Cash card if you don’t have a Bank of America business checking account. The Business Triple Cash card offers unlimited 3% cash back, whereas the Bank of America Customized Cash card has a $50,000 cap. The Bank of America Customized Cash card also doesn’t offer any statement credits.
The Bottom Line
When it comes to no-annual-fee business credit cards, you’d be hard-pressed to find a better option than the U.S. Bank Triple Cash Rewards Visa® Business Card. This card offers unlimited 3% cash back at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants as well as 1% cash back on all other purchases. Plus, you’ll earn 5% cash back on prepaid hotels and rental cars through the U.S. Bank Travel Rewards Center. These are outstanding rewards for a card that doesn’t charge an annual fee.
However, perhaps the most attractive benefit of this card is the fact that it offers a $100 yearly statement credit for software subscriptions, including subscriptions to popular business software like Quickbooks or FreshBooks. If you’re one of the many businesses that already use one of these software programs, then the Triple Cash Visa Business Card will provide you $100 in value as soon as you sign up. This card also offers a valuable welcome bonus for new card members that can help you rack up a bunch of cash back quickly.
The only serious drawback of this card is that it charges a foreign transaction fee of 3% on purchases and ATM advances made outside of the United States. If you’re consistently making transactions outside of the U.S., then you may want to seek out a card that doesn’t charge foreign transaction fees.
In summary, the U.S. Bank Triple Cash Rewards Visa Business Card provides excellent value with no annual fees. If you tend to do most of your business in the U.S. and you have a credit score high enough to qualify, then applying for the Triple Cash Visa Business Card is a good decision for your business.
Just getting started in the world of points and miles? The Chase Sapphire Preferred is the best card for you to start with.
With a bonus of 60,000 points after $4,000 spend in the first 3 months, 5x points on travel booked through the Chase Travel Portal and 3x points on restaurants, streaming services, and online groceries (excluding Target, Walmart, and wholesale clubs), this card truly cannot be beat for getting started!
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