Credit Union 1 Business Visa® Platinum Credit 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.
Credit Union 1 offers its members the Credit Union 1 Business Visa® Platinum Credit Card, a small business credit card, which lets them earn 1 point for every dollar spent on purchases. Rewards can be redeemed through uChoose Rewards®, and when redeeming, card owners can choose from a variety of options, such as products, travel, experiences, activities, and event tickets. Most of its branches are within South Dakota, so it’s ideal for those that prefer in-person services within the state.
There are several types of membership eligibility under Credit Union 1. Either its system or a Member Resolutions Specialist will help determine your eligibility. If you are found eligible, you’ll need to pay a one-time membership fee of $5 and an initial deposit of $5. If you’re not eligible, you can apply under the Credit Union 1 Educational Development Association (CU1EDA) for a $5 donation.
For a total of ($15 if you’re joining through CU1EDA), you’ll get access to all the benefits and services that Credit Union 1 offers.
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.
Credit Union 1 Business Visa® Platinum 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:
Credit Union1 members who want to maximize business purchases
Intro APR
None
Regular APR
Prime + 7.74% variable
Annual Fee
Credit Needed
Good to Excellent
- Earn 1 point per dollar spent on purchases made for their business.
Pros
- Low regular APR
- Offers fixed rewards
Cons
- No interest-free financing option
- Only exclusive for Credit Union1 members
- No introductory rewards
- Limited features
- Visa Zero Liability policy: Visa cardholders are protected from fraudulent transactions.
- Fraud monitoring: Credit Union1 ensures they monitor any possible fraudulent transactions and inform their cardholders 24/7 in the event they detected one
- Employee card monitoring: Cardholders can streamline spending and tracking in one place while adding authorized users into their Credit Union1 Business Visa® Platinum Credit Card
Intro APR
None
Regular APR
Prime + 7.74% variable
Annual Fee
Credit Needed
Good to Excellent
- Earn 1 point per dollar spent on purchases made for their business.
Pros
- Low regular APR
- Offers fixed rewards
Cons
- No interest-free financing option
- Only exclusive for Credit Union1 members
- No introductory rewards
- Limited features
- Visa Zero Liability policy: Visa cardholders are protected from fraudulent transactions.
- Fraud monitoring: Credit Union1 ensures they monitor any possible fraudulent transactions and inform their cardholders 24/7 in the event they detected one
- Employee card monitoring: Cardholders can streamline spending and tracking in one place while adding authorized users into their Credit Union1 Business Visa® Platinum Credit Card
When grading cash back business credit cards like the Credit Union1 Business Visa® Platinum Credit Card, we give the most weight to ongoing rewards. Then, we consider the introductory rewards, annual fee, introductory and ongoing annual percentage rates (APRs), and additional card benefits.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 20 | 30 |
Introductory Rewards | 0 | 20 |
Annual Fee | 15 | 15 |
Additional Features | 10 | 15 |
Introductory APR | 5 | 10 |
Ongoing APR | 10 | 10 |
Total Score | 60 | 100 |
Who the Credit Union 1 Business Visa® Platinum Credit Card Is Best For
- Credit Union 1 members who want to maximize business purchases: This card is an excellent option if you’re already a Credit Union 1 member and want to maximize your spending by earning 1 point per dollar spent on all business purchases.
- Businesses in South Dakota: If your business is within South Dakota, 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.
Credit Union 1 Business Visa® Platinum Credit Card Fees
- Introductory APR: None
- Ongoing APR: Prime rate plus 7.74% variable, which will adjust with the prime rate
- Multiple account setup fee: One-time fee of $99
- Cash advance fee: Either $15 or 3% of the amount of each cash advance, whichever is greater
Credit Union 1 Business Visa® Platinum Credit Card Rewards
- Earn 1 point per dollar spent on business purchases
Points earned can be accessed on uChoose Rewards®. You’ll need a minimum of 1,500 points to redeem rewards, such as travel, gas, groceries, and gift cards, and it can take up to 40 days for earned points to be credited to your account. You can head to the uChoose Rewards® website for more details.
How To Make Payments on the Credit Union 1 Business Visa® Platinum Credit Card
- Online: You can make payments by transferring funds from your savings or checking account to your credit card through Online Banking. You can also set up automatic monthly payments with ease.
- Mail: Send payment to the address found on your statement or the address below:
Credit Union 1
PO Box 2711
Omaha, NE 68103-2711
Credit Union 1 Business Visa® Platinum Credit Card Features
- Visa Zero Liability: Visa cardholders are protected from fraudulent transactions.
- Fraud monitoring: Credit Union 1 monitors possible fraudulent transactions and informs its cardholders when it detects any.
- Employee card monitoring: Cardholders can streamline spending and tracking in one place while adding authorized users to their Credit Union 1 Business Visa® Platinum Credit Card.
Credit Union 1 Business Visa® Platinum Credit 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 Platinum Card
U.S. Bank Business Platinum 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:
Extended 0% APR period on purchases and balance transfers
Intro APR
Regular APR
16.99% - 25.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good Credit
- U.S. Bank Business Platinum Card
- 0% Intro APR on purchases and balance transfers for 18 billing cycles. After that, a variable APR currently 16.99%-25.99%.
- Expense management tool VISA Spend Clarity is free to access and sync expenses, set employee card controls, generate reports, and more.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- With a long 0% introductory APR period on purchases and balance transfers
- Does not charge annual fees
- Offers ExtendPay® Plan
Cons
- No introductory and ongoing rewards
- Balance transfer fee is charged even during the introductory period
- Needs Excellent/Good credit score to qualify
- SinglePoint® Essentials: SinglePoint® Essentials is U.S. Bank’s one-stop tool for viewing account balances and transaction details, transferring funds between existing U.S. Bank accounts, downloading statements, and making payments.
- Fraud protection: U.S. Bank offers fraud protection to ensure the safety and security of all cardholders. To learn more about U.S. Bank’s fraud protection services, you can set up a virtual appointment, call U.S. Bank, or go to the nearest U.S. Bank branch.
- ExtendPay® plan: This allows you to pay off balances over time by dividing eligible credit card purchases into affordable monthly payments with no interest—you only need to pay a fixed monthly fee.
Visa Spend Clarity: Another tool that cardholders can use to track spending and manage finances is Visa Spend Clarity.
Intro APR
Regular APR
16.99% - 25.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good Credit
- U.S. Bank Business Platinum Card
- 0% Intro APR on purchases and balance transfers for 18 billing cycles. After that, a variable APR currently 16.99%-25.99%.
- Expense management tool VISA Spend Clarity is free to access and sync expenses, set employee card controls, generate reports, and more.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- With a long 0% introductory APR period on purchases and balance transfers
- Does not charge annual fees
- Offers ExtendPay® Plan
Cons
- No introductory and ongoing rewards
- Balance transfer fee is charged even during the introductory period
- Needs Excellent/Good credit score to qualify
- SinglePoint® Essentials: SinglePoint® Essentials is U.S. Bank’s one-stop tool for viewing account balances and transaction details, transferring funds between existing U.S. Bank accounts, downloading statements, and making payments.
- Fraud protection: U.S. Bank offers fraud protection to ensure the safety and security of all cardholders. To learn more about U.S. Bank’s fraud protection services, you can set up a virtual appointment, call U.S. Bank, or go to the nearest U.S. Bank branch.
- ExtendPay® plan: This allows you to pay off balances over time by dividing eligible credit card purchases into affordable monthly payments with no interest—you only need to pay a fixed monthly fee.
Visa Spend Clarity: Another tool that cardholders can use to track spending and manage finances is Visa Spend Clarity.
- Is ideal for those looking for a long 0% introductory APR, as it offers both purchases and balance transfers for the first 18 months
- Does not charge annual fees
- Lacks rewards for new and existing cardholders
- Is one of our:
Bottom Line
Consider the Credit Union 1 Business Visa® Platinum Credit Card if you’re already an active member of Credit Union 1 and wish to maximize business purchases. It offers 1 point for every dollar spent on eligible purchases, doesn’t charge annual and balance transfer fees, and has a relatively low regular APR at prime rate plus 7.74%. However, it lacks interest-free financing options and introductory rewards.
