US Bank Business Cash Rewards: No annual fee and a $500 bonus

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No matter how valuable miles and points can be for travel, they’ll never be as useful and versatile as cash money. That’s where the U.S. Bank Business Cash Rewards World Elite™ MasterCard® comes in. The very simple small business cash-back credit card earns up to 3.75% cash back. It’s great for anyone who spends a lot at gas stations or on office supplies and cellular services.

This card also comes with a $500 bonus after meeting the minimum spending requirement, which matches the best bonuses you’ll find on credit cards with no annual fee.

The information for the U.S. Bank Business Cash Rewards card has been collected independently by Million Mile Secrets. The card details on this page have not been reviewed or provided by the card issuer.

No rewards are as flexible as cold hard cash. (Photo by Atstock Productions/Shutterstock)

US Bank Business Cash Rewards Card review

Current bonus

Earn a $500 bonus after spending $4,500 in the first 150 days from opening the account.

Benefits and perks

The US Bank Business Cash earns 3% cash back on eligible purchases of cellular services, gas stations and at office supply stores. You’ll earn 1% cash back on all other purchases. One caveat is that you’ll only earn 3% at gas stations when your transaction is $200 or less.

You’ll also get a 25% bonus on your prior year’s cash back, up to $250 (not including the sign-up bonus), so the first $1,000 in cash back you earn from purchases will be worth 25% more. That’s a return of 3.75% in the bonus categories and 1.25% on all other purchases, those are solid rates for a cash-back credit card.

How to redeem your cash back

This card earns cash back, so you can use the rewards for whatever on earth your heart desires. You can redeem your cash back as a statement credit, U.S. Bank Rewards MasterCard card or a deposit to your U.S. Bank business checking, savings or money market account.

There’s a minimum $25 redemption amount and you can redeem in $25 increments.

Is the annual fee worth it?

The US Bank Business Cash has no annual fee.

Who is this card for?

This is a solid no-annual-fee small business credit card with no caps on the 3% bonus categories. If you think you’ll do a lot of spending in the bonus categories, this could be a great fit for you. Especially if you find travel miles and points to be a bit of a headache and prefer hard cash. Plus, the card has a relatively low minimum spending requirement to earn its $500 bonus and you’ll have a longer period of time to earn the bonus.

Because this is a small business card, you’ll need a for-profit venture to qualify. But you don’t have to be working full-time at the business to qualify for a small business credit card. You could have only a part-time side hustle or freelance gig and still be approved. For example, freelance writing or independent contractor work could qualify you as a sole proprietor.

Insider tip

U.S. Bank business cards won’t show up on your personal credit report and that means that applying for this card won’t add to your Chase 5/24 count.

Pairing the US Bank Business Cash Rewards with other credit cards

If you’re looking for a bigger bonus, the U.S. Bank Business Leverage Visa Signature Card comes with 75,000 bonus points (worth $750) after you spend $7,500 in the first four months of account opening and it’s $95 annual fee is waived for the first year.

There are also lots of other no-annual-fee small business cards to choose from. If the U.S. Bank Business Cash doesn’t feel like a good fit, the Chase Ink Business Unlimited Credit Card or the Chase Ink Business Cash Credit Card are great options.

The Ink Business Unlimited is a good choice for anyone whose business expenses don’t fall into the spending bonus categories other cards have because it earns 1.5% cash back on all purchases with no limit to the amount of rewards you can earn. It currently has a $500 bonus (50,000 Chase Ultimate Rewards points) after you spend $3,000 on purchases within the first three months of account opening.

The Chase Ink Business Cash comes with the same $500 cash bonus (50,000 Chase Ultimate Rewards points) after spending $3,000 on purchases in the first three months of account opening.  And it earns:

  • 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on phone, internet and cable TV services each account anniversary year
  • 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
  • 1% cash back on all other purchases

This is a little more complicated than the other cards, but potentially much more profitable, too. And with both of these cards the cash back you earn can potentially be worth much more if you have an annual-fee card that earns Chase Ultimate Rewards points because then you’ll be able to transfer the points you earn to Chase’s travel partners.

Information for the U.S. Bank Business Leverage Visa card has been collected independently by Million Mile Secrets and has not been reviewed by the card issuer.

Bottom line

The U.S. Bank Business Cash Rewards World Elite™ MasterCard® is a good pick for small business owners who prefer the simplicity of cash back and an easy-to-earn welcome bonus. You can earn a $500 cash back bonus after spending $4,500 on purchases in the first 150 days from account opening.

You’ll also earn 3% cash back on eligible purchases on cellular services, gas stations and office supply stores and 1% cash back on everything else. Plus you’ll receive a 25% bonus on the cash back you’ve earned (up to a $250 bonus) each year. Another good thing about this card is it won’t show up on your personal credit report. So it won’t affect your chances of getting approved for other lucrative rewards credit cards.

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Jason Stauffer is a contributor to Million Mile Secrets, he covers topics on points and miles, credit cards, airlines, hotels, and general travel.

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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