Connexus Credit Union Visa® Business Cash Preferred Card Review for 2023
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
This article is part of a larger series on Best Small Business Credit Cards.
Connexus Credit Union Visa® Business Cash Preferred Card is a small business credit card offered by Connexus Credit Union and issued by Elan Financial Services. It offers:
- Interest-free financing option of 0% on purchases and balance transfers for the first six billing cycles
- 3% cash back on eligible purchases made in gas stations, cellphone service providers, office supply stores, and dining
- 1% cash back on all other eligible net purchases
On top of that, new cardholders can get a $25 cash back reward after using the card for their first business purchase.
While Connexus Credit Union serves members across all 50 states, its 16 physical branches are mostly in Wisconsin and Illinois. As part of the CO-OP Shared Branch Network, Connexus members can make selected transactions at a branch of an in-network credit union as if they were at a Connexus branch.
If you wish to compare one card over another, choose a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
Connexus Credit Union Visa® Business Cash Preferred Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
On-the-go business owners
Intro APR
0%
Regular APR
18.74% to 27.74% variable
Annual Fee
None
Credit Needed
Good to Excellent
- 3% cash back on eligible purchases made at gas stations, cell phone services, office supply stores and on dining, including takeout and food delivery service purchases
- Unlimited 1% cash back on all other eligible net purchase
- $100 annual software credit, and will be applied every year to your account after 11 consecutive monthly software transactions.
Pros
- No annual fee
- With interest-free financing option
- No credit union membership needed.
Cons
- High cash advance and penalty annual percentage rates (APRs)
- Low rewards
- Short interest-free financing option
- Limited rewards
- Zero fraud liability: Elan Financial Services provides zero fraud liability for unauthorized transactions
- Auto rental coverage: While certain terms, conditions, and exclusions may apply, Elan Financial Services will ensure to inform you whether the auto rental coverage is needed for your business needs
- Free employee cards: Not only will it help you keep track of employee expenses, but it will also let you earn as many rewards as possible
- Online reporting tools: Connexus Credit Union lets you use its online reporting tools and view your credit card spending by category, transaction type, and transaction period, such as month, quarter, or year
Intro APR
0%
Regular APR
18.74% to 27.74% variable
Annual Fee
None
Credit Needed
Good to Excellent
- 3% cash back on eligible purchases made at gas stations, cell phone services, office supply stores and on dining, including takeout and food delivery service purchases
- Unlimited 1% cash back on all other eligible net purchase
- $100 annual software credit, and will be applied every year to your account after 11 consecutive monthly software transactions.
Pros
- No annual fee
- With interest-free financing option
- No credit union membership needed.
Cons
- High cash advance and penalty annual percentage rates (APRs)
- Low rewards
- Short interest-free financing option
- Limited rewards
- Zero fraud liability: Elan Financial Services provides zero fraud liability for unauthorized transactions
- Auto rental coverage: While certain terms, conditions, and exclusions may apply, Elan Financial Services will ensure to inform you whether the auto rental coverage is needed for your business needs
- Free employee cards: Not only will it help you keep track of employee expenses, but it will also let you earn as many rewards as possible
- Online reporting tools: Connexus Credit Union lets you use its online reporting tools and view your credit card spending by category, transaction type, and transaction period, such as month, quarter, or year
When grading fixed-rate cash back business credit cards like the Connexus Credit Union Visa® Business Cash Preferred Card, we give the most weight to ongoing rewards. Then, we consider the introductory rewards, annual fees, introductory and ongoing annual percentage rates (APRs), and additional card benefits.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 25 | 30 |
Introductory Rewards | 10 | 20 |
Additional Features | 8 | 15 |
Annual Fee | 15 | 15 |
Introductory APR | 7 | 10 |
Ongoing APR | 10 | 10 |
Total Score | 75 | 100 |
Who the Connexus Credit Union Visa® Business Cash Preferred Card Is Best For
- On-the-go business owners: Those whose expenses revolve around gas stations and restaurants may want to consider this credit card, which offers 3% cash back on purchases in these categories.
- Those planning to make large purchases within the next six months: The card offers an interest-free financing option of 0% on purchases and balance transfers for the first six billing cycles.
- Businesses in Wisconsin and Illinois: If your business is in these two states, transacting in person will be easy, as the credit union’s branches are mostly there.
See our recommended alternatives below if this card isn’t the best fit for your business.
Connexus Credit Union Visa® Business Cash Preferred Card Fees
APR
- Introductory: 0% on purchases and balance transfers* for the first six billing cycles.
- Ongoing and balance transfers: 18.74% to 27.74% variable, which will adjust based on the prime rate
- Cash advance: 29.99% variable, which will adjust based on the prime rate
- Penalty: 31.99% variable, which will adjust based on the prime rate. This APR will be applied to your account if you:
- Made payments five calendar days late twice or 30 calendar days late once
- Made a returned payment
- Exceeded your credit limit twice in 12 consecutive months.
This APR will be applied until you make six consecutive minimum payments when due without exceeding your credit limit.
*Introductory APR will apply if you made a balance transfer within 186 days from account opening.
Fees
- Minimum interest charge: No less than $1
- Annual: None
- Balance transfer and convenience check cash advance: Either 3% of the amount of each transfer/advance or $5 minimum, whichever is greater.
- Cash advance ATM, cash advance, and cash equivalent advance: Either 4% of each advance or $10 minimum, whichever is greater.
- Foreign transaction: 2% of each foreign purchase transaction or foreign ATM advance transaction in United States dollars or 3% of each foreign purchase transaction or foreign ATM advance transaction in a foreign currency.
- Late payment:
- $19 on balances up to $100
- $29 on balances from $100 up to $250
- $39 on balances of $250 or more.
- Returned payment: $35
- Overlimit: $39
Your due date is 24 to 30 days after the close of each billing cycle.
Connexus Credit Union Visa® Business Cash Preferred Card Rewards
- $25 cash back will be applied to your account after your first purchase. Note that this will be applied six to eight weeks after the purchase and that this isn’t applicable for both balance transfers and cash advances.
- 3% cash back on eligible purchases made at gas stations and office supply stores and for cellphone services and dining, including takeout and food delivery service purchases.
- Unlimited 1% cash back on all other eligible net purchases
- $100 annual software credit applied to your account after 11 consecutive monthly software transactions.
Cash back earned can be redeemed as a deposit to a checking or savings account from Connexus Credit Union and will be deposited within one to two billing cycles or statement credit to either your credit card account or a Rewards Card with a $25 minimum redemption.
Note that:
- The rewards program is subject to change
- Rewards are earned on eligible net purchases, defined as purchases minus credits and returns
- Not all transactions earn rewards, such as advances, balance transfers, and convenience checks
How To Make Payments on the Connexus Credit Union Visa® Business Cash Preferred Card
- Digital banking: Visit Elan Financial Services’ credit card account portal to manage your card and to make payments on your balance
- Mobile app: You can pay your credit card bills through its mobile app
- Nearest Connexus Credit Union branch/shared branch location: Visit a Connexus Credit Union branch or a CO-OP branch nearest you
- Phone: Call (800) 845-5025 and follow the prompts; note that a $9 convenience fee shall be charged if you pay your card using this option
- Standard mail*: Mail a check along with your member number, loan number, and payoff statement to:
Connexus Credit Union
PO Box 8026
Wausau, WI 54402-8026
- Overnight mail via UPS or FedEx*: You can mail a check alongside the relevant details to:
Connexus Credit Union
1 Corporate Dr., Ste. 102
Wausau, WI 54401
*Note that the cost will vary based on either the cost of the stamp or the carrier chosen (either UPS or FedEx). Payments sent via mail will be processed within seven to 10 business days upon receipt.
Connexus Credit Union Visa® Business Cash Preferred Card Features
- Zero fraud liability: Elan Financial Services provides zero fraud liability for unauthorized transactions
- Auto rental coverage: While certain terms, conditions, and exclusions may apply, Elan Financial Services will inform you whether the auto rental coverage is needed for your business needs
- Free employee cards: Not only will it help you keep track of employee expenses, but it will also let you earn as many rewards as possible
- Online reporting tools: Connexus Credit Union lets you use its online reporting tools and view your credit card spending by category, transaction type, and transaction period, such as month, quarter, or year
Connexus Credit Union Visa® Business Cash Preferred Card Alternatives
American Express Blue Business CashTM
American Express Blue Business Cash™ Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Those who want better cash back rewards
Intro APR
0% on purchases
Regular APR
18.24% - 26.24% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.24% - 26.24%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Intro APR
0% on purchases
Regular APR
18.24% - 26.24% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.24% - 26.24%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
- Is a viable option for those who want a straightforward cash back rewards system and may exceed their credit limit
- Lets you earn 2% cash back on all eligible purchases up to $50,000 per calendar year, then 1% after that
- Offers expanded buying power, which allows you to spend over your credit limit; note that the amount you can spend depends on your card usage, payment history, credit score, and financial resources
- Has a 0% introductory APR on purchases for the first 12 months
- Is in our roundups of the:
Chase Ink Business Unlimited®
Ink Business Unlimited® Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Pocketing 1.5% cash back on every single purchase
Intro APR
0% Intro APR on Purchases
Regular APR
17.99% - 23.99% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
- Member FDIC
Pros
- With interest-free financing option on purchases
- Fixed unlimited cash back on all purchases
Cons
- Does not have interest-free financing option on balance transfers
- Charges high foreign transaction fees
- Auto rental collision damage waiver: You can decline the company’s collision insurance and charge the entire rental cost to this card.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Purchase protection: You can ensure that your new purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Zero liability protection: Chase will not hold you responsible for unauthorized transactions made with both your card and your account information.
- Cellphone protection: Receive up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees included in your monthly cellphone bills when using your card to pay for it. This applies for a maximum of three claims within a 12-month period and will charge a $100 deductible per claim.
Intro APR
0% Intro APR on Purchases
Regular APR
17.99% - 23.99% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
- Member FDIC
Pros
- With interest-free financing option on purchases
- Fixed unlimited cash back on all purchases
Cons
- Does not have interest-free financing option on balance transfers
- Charges high foreign transaction fees
- Auto rental collision damage waiver: You can decline the company’s collision insurance and charge the entire rental cost to this card.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Purchase protection: You can ensure that your new purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Zero liability protection: Chase will not hold you responsible for unauthorized transactions made with both your card and your account information.
- Cellphone protection: Receive up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees included in your monthly cellphone bills when using your card to pay for it. This applies for a maximum of three claims within a 12-month period and will charge a $100 deductible per claim.
- Is best suited if you want a fixed-rate rewards card from a bank that is present in over 48 states
- Lets you earn unlimited 1.5% cash back on all business-related purchases
- Offers 0% APR on purchases for the first 12 billing cycles
- Does not charge annual fees
- Is on our lists of the:
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
0% APR for 15 billing cycles
Intro APR
Regular APR
18.99% - 27.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 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 net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 18.99% - 27.99%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
Intro APR
Regular APR
18.99% - 27.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 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 net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 18.99% - 27.99%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
- Is a great choice if you want a longer 0% introductory period for purchases and balance transfers (for the first 15 billing cycles)
- Does not charge annual fees
- Lets you earn 5% cash back on prepaid hotels and car rentals directly booked in the Travel Rewards Center, 3% cash back on eligible purchases at gas and electric vehicle (EV) charging stations, office supply stores, cell phone service providers, and restaurants, and 1% cash back on all other eligible purchases.
- Is one of our:
Bottom Line
Connexus Credit Union Visa® Business Cash Preferred Card is a great business credit card for business owners who want to get cash back rewards after using it for their business, need an interest-free financing option to make large purchases, and are always on the go. You don’t need to be a Connexus Credit Union member to qualify for the card.
