A Worthy Competitor to Chase Ink Cash & AMEX SimplyCash?
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US Bank is stepping up with an improved offer on the U.S. Bank Business Edge™ Cash Rewards World Elite™ MasterCard® small business card.
You’ll earn $150 when you spend $500 on purchases in the 1st 90 days of opening your account. Plus, you’ll earn 3% cash back on cellular, office supply store, and gasoline purchases.
That’s a terrific offer for a card with no annual fee. And it’s now much more competitive with other small business cash back cards like the SimplyCashTM Card from American Express and Chase Ink Business Cash Credit Card!
Let’s see if you should consider this offer!
What’s the Deal?
The improved offer for the U.S. Bank Business Edge™ Cash Rewards World Elite™ MasterCard® is a good deal for folks who don’t want to pay an annual fee or meet a large minimum spending requirement.
You’ll earn $150 after you spend just $500 on purchases in the 1st 90 days of opening your account.
You’ll also get:
- 3% cash back on cellular, gas, and office supply store purchases
- 1% cash back on everything else
- An annual bonus of 25% of the cash back you’ve earned in the previous cardmember year, to a maximum of $250
Single transaction purchases of gasoline in excess of $200 will not be deemed to be a purchase of automobile gasoline and as such will earn a reward of 1%.
So you can’t use this card to earn 3% back when you stock up on $500 worth of automotive supplies at gas stations. 😉
There’s no limit to the amount of cash back you can earn. But this is NOT a good card to use overseas, because it adds a 2% foreign transaction fee.
This is a small business card, but you don’t need a multi-million dollar business to qualify.
Because you’ll earn a 25% bonus (to a maximum of $250) on all the cash back you earn each cardmember year, you’ll effectively earn:
- 3.75% cash back in bonus categories
- 1.25% cash back on all other spending
But keep in mind, the maximum bonus is $250, which is 25% of $1,000 cash back for the year. To earn that amount of cash back in a year, you’ll need to have spent:
- ~$33,333 in 3% bonus categories, or
- $100,000 in 1% categories (all other spending)
So you won’t max out the 25% bonus unless you spend a LOT each year.
With this card, you can redeem your cash back as a statement credit, US Bank Rewards Card, or as a deposit to a US Bank business checking, savings or money market account.I like that this card has a terrific sign-up bonus for very little minimum spending. And earning 3% back (effectively 3.75% back when you include the yearly bonus) at gas stations could be attractive to many folks.
But there are other small business cards that earn more in some of these categories!
AMEX SimplyCash & Chase Ink Cash Are Better for Most
But you’ll have to meet higher minimum spending requirements to earn their sign-up bonuses!
1. AMEX SimplyCash
The AMEX SimplyCash small business card has a sign-up bonus of up to $500 (as a statement credit). But you’ll have to spend $10,000 on purchases in the 1st 6 months of opening your account to earn it!
You’ll earn a $250 statement credit after you spend $5,000 or more on qualifying purchases on your card within the first 6 months of card membership. And an additional $250 statement credit after spending an additional $10,000 on purchases on your card within the 1st year of card membership.
You’ll also get:
- 5% cash back at US office supply stores & US cell phone service on purchases up to $25,000 (combined) per rebate year
- 3% on the category of your choice on purchases up to $25,000 per rebate year
- 1% on other purchases
- Terms & limitations apply
You can choose a 3% category that best fits your spending habits:
- Airfare (purchased directly from airlines, so online travel agencies like Orbitz won’t count)
- Hotel stays purchased directly from hotels (excluding timeshares, banquets, and events)
- Car rental companies listed at americanexpress.com/rewards-info
- US gas stations
- US restaurants
- US purchases for shipping
- US purchases for advertising in select media
So you’ll earn more with this card at office supply stores and on cell phone service than with the US Bank Business Edge Cash Rewards card. But keep in mind, the 5% category is capped at $25,000 in spending per year.Note: The AMEX SimplyCash adds a ~3% foreign transaction fee, so it’s not a good card to use abroad.
I like that this card allows you to earn 3% back in the category of your choice (including gas stations). So depending on where your small business spends the most, you can customize your earning to get the most cash back!
But while the sign-up bonus on this card is $100 higher than the US Bank Business Edge Cash Rewards card, you’ll have meet a significantly higher minimum spending requirement to get it.
2. Chase Ink Cash
Link: Chase Ink Cash
The Chase Ink Cash is an excellent choice for folks who like flexibility in how they use their rewards. You’ll earn $300 (30,000 Chase Ultimate Rewards points) when you spend $3,000 on purchases in the 1st 3 months of opening your account.
You’ll also get:
- 5 points per $1 you spend (5% cash back) on the 1st $25,000 spent per year at office supply stores and on cell phone, landline, internet, and cable TV services
- 2 points per $1 you spend (2% cash back) on the 1st $25,000 spent per year at restaurants and gas stations combined
- 1 point per $1 you spend (1% cash back) on everything else
- Primary auto rental insurance (CDW) when renting for business purposes, plus purchase and extended warranty protection
For me, here’s where this card shines…if you also have a Chase Sapphire Reserve, Chase Sapphire Preferred, Chase Ink Plus or Chase Ink Bold card (both no longer available), you can transfer the Chase Ultimate Rewards points you earn with the Ink Cash to airline and hotel partners like Southwest, United Airlines, or Hyatt.
Or book paid travel through the Chase Ultimate Rewards travel portal at 1.25 cents per point.
That’s a great option for folks who like cash back and Big Travel with Small Money!
You’ll also earn more (5% cash back) at office supply stores and on cell phone service with the Chase Ink Cash. However, this bonus category is also limited to $25,000 in annual spending combined.
Like the other 2 cards, I wouldn’t use it overseas because it adds a foreign transaction fee.
Who Should Consider the US Bank Business Edge Cash Rewards Card?
Here’s a side-by-side comparison of all 3 cards to help you decide!
|AMEX SimplyCash||Chase Ink Cash||US Bank Business Edge Cash Rewards|
|Sign-Up Bonus||$250 statement credit||$300 (30,000 Chase Ultimate Rewards points)||$150|
|Minimum Spending Requirement||$5,000 on purchases in the 1st 6 months of opening your account||$3,000 on purchases in the 1st 3 months of opening your account||$500 on purchases in the 1st 90 days of opening your account|
|Earnings at Office Supply Stores / Cellular Service||5% cash back on up to $25,000 in spending per year combined||5X Chase Ultimate Rewards points (5% cash back) on up to $25,000 in spending per year combined||3% cash back (no yearly cap)|
|Earnings at Gas Stations||3% cash back (if you choose this category) on up to $25,000 in spending per year - US gas stations only||2X Chase Ultimate Rewards points (2% cash back) on up to $25,000 in spending per year (combined with restaurants)||3% cash back on single purchases of $200 or less (no yearly cap) - effectively worth 3.75% when you account for yearly 25% bonus|
|Transfer Rewards to Travel Partners||No||Yes (if you also have the Chase Sapphire Preferred, Chase Ink Plus, or Chase Ink Bold)||No|
|Yearly Bonus||None||None||25% bonus on cash back earned each cardmember year (maximum $250)|
So the US Bank Business Edge Cash Rewards is good for folks who:
- Want a good sign-up bonus with a small minimum spending requirement
- Don’t want an earning cap on bonus spending categories
- Spend a lot at gas stations
- Prefer cash back to transferring points to travel partners
Remember, the US Bank Business Edge Cash Rewards effectively earns more at gas stations (when you take the year-end 25% bonus into account) than the AMEX SimplyCash or Chase Ink Cash. And there’s no spending cap.
That said, my favorite card is the Chase Ink Cash, because I like the flexibility you get. I prefer transferring my Chase Ultimate Rewards points to airline and hotel partners for Big Travel.
If you’re interested in the Chase Ink Cash, you may want to apply for it soon. That’s because it’s rumored Chase will change the application rules for this card in March 2016. If you’ve opened ~5 or more credit cards in the past 24 months, it could be much more difficult to get approved!
Folks who do more spending on cellular service and at office supply stores will do better with the Chase Ink Cash or AMEX SimplyCash.
And because you can choose your 3% cash back category (and change it once per year), the AMEX SimplyCash is a better pick for folks who want to earn more in categories their business spends the most on.
Of course, there’s nothing stopping you from having all 3 cards, because they’re issued by different banks.
And if you already have the Chase Ink Cash or AMEX SimplyCash, opening a US Bank Business Edge Cash Rewards card might be a no-brainer because of the great sign-up bonus and low minimum spending.
There’s a great new bonus on the U.S. Bank Business Edge™ Cash Rewards World Elite™ MasterCard®. . You’ll earn $150 when you spend $500 on purchases in the 1st 90 days of opening your account.
That’s a low minimum spending requirement for a nice sign-up bonus with no annual fee!
And you’ll earn 3% back (with no spending cap) at office supply stores, gas stations, and on cell phone service. Plus, you’ll get 25% of the cash back you’ve earned each anniversary year as a bonus (up to $250 maximum).
The bonus makes this card more competitive with other no-annual-fee small business cards like the Chase Ink Cash or AMEX SimplyCash. These cards have bigger sign-up bonuses, but significantly higher minimum spending requirements.
If you spend a lot at gas stations and don’t want a high minimum spending requirement, the US Bank Business Edge Cash Rewards card could be a good pick.
But remember, it may soon be harder to get approved for the Chase Ink Cash. So if you’re deciding between small business cash back cards, you may want to consider the Chase Ink Cash FIRST.
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