U.S. Bank Business Cash Rewards World Elite™ Mastercard®
Best For: Tiered rewards on gas station, office supply store and cell phone purchases
|Intro APR ?0% APR for 15 billing cycles on purchases and balance transfers||Regular APR||Annual Fee||Credit Needed|
|0%*||11.99% - 22.99%* Variable||$0*||Excellent|
The U.S. Bank Business Cash Rewards World EliteTM MasterCard® is a potentially valuable business credit card because it offers a unique 25% annual bonus on the prior year’s rewards, up to $250. It offers ongoing rewards on cellphone purchases and service, gas, and office supplies. Ongoing annual percentage rate (APR) is as low as 11.99%.
The best cash back business credit cards pay up to 5% cash back on at least one bonus category, offer introductory rewards of as much as $500 and introductory 0% APR of nine months or more. The business U.S. Bank cash back credit card offers slightly lower returns on introductory and ongoing rewards but offers an excellent ongoing APR and 15 months of interest-free financing. We give it four out of five stars.
How We Evaluated the U.S. Bank Business Cash Rewards World EliteTM MasterCard®
We evaluated all aspects of the U.S. Bank Business Cash Rewards World EliteTM MasterCard® MasterCard®. It pays 3% cash back on cellphone, gas, and office supply spending. That’s less than the 5% Chase Ink Business CashSM pays on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year.
We considered the following criteria when grading this card based on what owners might need and want in a small business credit card:
- Ongoing rewards: The cash back you’ll earn by using the U.S. Bank Business Cash Rewards World EliteTM MasterCard®; this card earns 3% cash back on cellular, gas, and office supply store purchases; if you want travel rewards, look to a different business credit card
- Introductory rewards: The cash back you’ll earn by reaching minimum spending requirements over the first few months of card ownership; the U.S. Bank Business Cash Rewards World EliteTM MasterCard® offers $500 cash back after you spend $4,500 in eligible net purchases within the first 150 days
- Additional benefits: Whether the card comes with free perks that may increase its value; the U.S. Bank Business Cash Rewards World EliteTM MasterCard® offers valuable perks like rental car insurance and extended warranty protection
- Annual fee: How much you’ll pay each year to own the card; the U.S. Bank Business Cash Rewards World EliteTM MasterCard® charges no annual fee
- Intro APR: Whether the card offers a period of no-interest financing on purchases or balance transfers; the U.S. Bank card offers 0% intro APR for the first 15 billing cycles on purchases
- Ongoing APR: How much it will cost to finance purchases on the card; this card charges an ongoing APR of 11.99% to 22.99%
The U.S. Bank Business Cash Rewards World EliteTM MasterCard® offers a decent return on cellphone, gas and office supply spending, made better by this card’s unique 25% annual bonus on rewards earned during the previous 12 months. This could boost the annual value of this card by $250.
How We Evaluate Cash Back Business Credit Cards
When grading cash back business credit cards like the U.S. Bank Business Cash Rewards World EliteTM MasterCard®, we weight ongoing rewards heaviest. We rate introductory rewards as slightly less important, but they still are the second biggest factor in grading a card. We also take into account the annual fee, introductory and ongoing APRs and card benefits. This U.S. bank card offers solid, if not spectacular, introductory and ongoing rewards.
We graded the U.S. Bank Business Cash Rewards World EliteTM MasterCard® using the following methodology:
Based on our five-star rating system where 20 points equals one star, the U.S. Bank Business Cash Rewards World EliteTM MasterCard® scores above average on most of the grading criteria. In cases where cards receive perfect scores in most categories, we may award bonus points to boost the card’s rating.
The ongoing rewards offered by the U.S. Bank Business Cash Rewards World EliteTM MasterCard® are decent, but fall short when compared with a top cash back credit card like the Chase Ink Business CashSM. Still, the annual bonus is intriguing and could make this card significantly more valuable in the long run for heavy users.
Who the U.S. Bank Business Cash Rewards World EliteTM MasterCard® Is Right For
The U.S. Bank Business Cash Rewards World EliteTM MasterCard® is best for businesses that have frequent cellphone, gas, and office supply expenses. This card becomes even more valuable if your business spends up to $33,000 annually on these categories as you’ll earn up to $250 in annual bonuses.
U.S. Bank Business Cash Rewards World EliteTM MasterCard® Costs
This U.S. Bank business credit card comes with 0% APR on purchases for 15 billing cycles. Its ongoing APR is as low as 11.99%, which is a percentage point lower than the best offer from Chase Ink Business CashSM. The Chase card does offer 12 months of interest-free financing on purchases.
Financing costs and fees on the U.S. Bank Business Cash Rewards World EliteTM MasterCard® include:
- Introductory APR: 0% on purchases for the first 15 billing cycles
- Ongoing APR: 11.99% to 22.99%, which will adjust with the prime rate
- Annual fee: None
- Balance transfer fee: $5 or 3% of the transfer during application, whichever is greater
- Foreign transaction fee: 2% of each foreign purchase transaction or foreign ATM transaction in U.S. dollars
- Cash advance fee: $10 or 5% of the advance, whichever is greater
- Late payment fee: $19 on balances up to $100; $29 on balances between $100 and $250; $39 of balances above $250
- Returned payment fee: $35
- Penalty APR: 29.99%; it may be applied if you make a payment that is returned or if you exceed your credit limit twice in 12 consecutive months; a penalty APR will apply until you make six consecutive on-time payments and do not exceed your credit limit
Cash back rewards business credit cards are more likely than not to charge no annual fee. This card is similar in that regard to Chase Ink Business UnlimitedSM.
How to Avoid Paying Interest on the U.S. Bank Business Cash Rewards World EliteTM MasterCard®
Your payment due date is 24 to 30 days after the close of the business cycle ― when you receive your bill. Pay your balance in full by the due date to avoid interest charges. If you are charged interest, you’ll pay no less than $2. Most small business credit cards offer a minimum number of days that you’ll have to pay and not a range. Still, the potential due date on this card could be longer than on the Chase Ink Business Preferred®, which has a payment due date at least 20 days after the close of the business cycle.
U.S. Bank Business Cash Rewards World EliteTM MasterCard® Rewards
The [U.S. Bank Business Cash Rewards World EliteTM MasterCard® offers two ongoing rewards programs. You’ll earn cash back on your spending, including bonus rewards for cellular, gas, and office supply purchases, and a 25% annual bonus based on your prior year’s cash rewards. The introductory offer is worth $500.
You’ll earn $500 cash back after you spend $4,500 during the first 150 days.
This reward is low even for a card that charges no annual fee. The Chase Ink Business CashSM card offers a $500 cash back bonus after you spend $3,000 in the first three months.
You’ll earn the following ongoing rewards when using your card:
- 3% cash back on cellphone purchases and service
- 3% cash back on gas purchases up to $200 per single purchase
- 3% cash back at office supply stores
- 1% cash back on all other eligible purchases
The cellphone bonus is unique among business credit cards. U.S. Bank FlexPerks Business Travel Rewards offers two times the points on cellphone service. Bonus rewards on gas purchases are better than other cards offer because there’s no annual cap. For example, the Costco Anywhere Visa Business Card offers 4% cash back, but only up to $7,000 in annual spending.
U.S. Bank also offers a unique annual bonus equal to 25% of your prior year’s cash rewards, up to a maximum of $250. No other major small business cash back credit card offers an ongoing annual bonus, although the Discover it Business card matches all the cash back you earn after your first year.
The U.S. Bank Business Cash Rewards World EliteTM MasterCard® won’t pay bonus rewards for the following purchases:
- Advances, balance transfers, and convenience checks earn no rewards
- Single transaction purchases of gasoline in excess of $200 will earn 1% cash back
These restrictions are fairly standard among small business rewards credit cards.
How You Can Redeem Your Rewards
There are three ways to redeem your rewards:
- Cash back: The bank will deposit your cash back rewards into your U.S. Bank business checking, savings or money market account
- Statement credit: This will reduce your balance but will not replace a minimum payment
- Debit card: The bank will issue a U.S. Bank Rewards Mastercard Card
You can redeem your rewards through your online account. Most cash back small business credit cards offer similar redemption options for cash back, although few of them offer the opportunity to receive rewards on a debit card.
U.S. Bank Business Cash Rewards World EliteTM MasterCard® Features
This U.S. Bank business credit card offers several free perks as part of this card’s benefits package, including car rental insurance, extended warranty coverage, and purchase security, which protects purchases against theft and damage for 90 days.
The U.S. Bank Business Cash Rewards World EliteTM MasterCard® comes with several benefits.
U.S. Bank Business Cash Rewards World EliteTM MasterCard® MasterRental Car Rental Collision Damage Waiver
When you rent a car using your U.S. Bank 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 insurance offered by the rental agency. Coverage is capped at $50,000.
The following coverage is included when using your U.S. Bank card:
- Physical damage and theft of the vehicle up to $50,000
- Reasonable loss of use charges imposed by the vehicle rental company for the period of time the rental vehicle is out of service
- Towing charges to the nearest collision repair facility
- Theft or damage to personal effects
Trucks, sport-utility vehicles, vans, recreational vehicles, antique vehicles and any vehicle with fewer than four wheels will not be covered by this insurance. Most credit cards that include car rental insurance have similar exclusions on their coverage.
Other business travel rewards credit cards may offer higher coverage limits, but more restrictions on coverage. The American Express Business Platinum Card®, for example, caps coverage at $75,000 but also doesn’t cover rentals made in certain countries, including Australia, Italy, and New Zealand.
U.S. Bank Business Cash Rewards World EliteTM MasterCard® 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.
Purchase protection does not cover the following conditions:
- Losses due to normal wear and tear, misuse, gradual deterioration, and/or abuse
- Losses resulting from any dishonest, fraudulent, or criminal act committed or arranged by you
- Used or antique items; collectibles of any kind, such as items designed for people to collect or items that over time become collectibles; recycled, previously owned, refurbished, rebuilt, or remanufactured items
- Motorized vehicles, including, but not limited to, automobiles, watercraft/boats, aircraft, and motorcycles, or their motors, equipment, or accessories
- Traveler’s checks, tickets of any kind ― like airlines, sporting events, concerts, or lottery ― negotiable instruments, bullion, rare, or precious metals, stamps, and coins, currency or its equivalent
Business travel rewards credit cards that offer this coverage typically limit coverage to either 90 or 120 days after purchase. The U.S. Bank business credit card offers shorter coverage than the Chase Ink Business Preferred®, but the same length of coverage as the Capital One® Spark® Miles card. Exclusions here are common across small business credit cards.
U.S. Bank Business Cash Rewards World EliteTM MasterCard® 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.
The following purchases are not covered by extended warranty protection:
- Boats, automobiles, aircraft, and any other motorized vehicles
- Items purchased for resale, professional, or commercial use
- Real estate
- Computer software
- Medical equipment
- Used or pre-owned items
The extended warranty protection is slightly weaker than some other small business credit cards offer, including the American Express Business Gold card, which offers a full additional year of warranty service on purchases with warranties of five years or less.
U.S. Bank Business Cash Rewards World EliteTM MasterCard® MasterAssist Travel Assistance Services
Mastercard will provide travel, emergency, medical and legal assistance 24 hours a day to the cardholder. Like with most small business credit cards, this is mostly a concierge service. In most cases, the cardholder is responsible for the cost of any assistance. Request help by calling 800-MASTERCARD.
This card covers the following assistance:
- Medical referrals
- Emergency transportation assistance
- Prescription assistance
- Legal referrals
- Emergency ticket replacement
- Lost luggage locator
- Emergency translation services
This is fairly standard help for credit cards that offer travel and emergency assistance. Premium business travel rewards credit cards, like the American Express Business Platinum Card®, may offer a higher level of service. Use the card’s Premium Global Assist Hotline when you fall ill, and the issuer may provide a medical evacuation at no cost to the card member or covered family member.
U.S. Bank Business Cash Rewards World EliteTM MasterCard® Account Management Tools
The U.S. Bank Business Cash Rewards World EliteTM MasterCard® also comes with a number of spending controls and protections that can help your business manage risk, including the ability to set limits on the times and places employees can use their card.
Enjoy the following account management tools:
- Spend Analysis Online Reporting: Makes it easier to track and monitor expenses with a chart that shows your spending information at a glance; you can also quickly monitor transactions in your top spending categories
- Payment Controls: Individually customize each of your employees’ business credit cards; it will help you manage where, when, and how your employees use their card
- FlexControl Budgeting Tools: These are automatic payment tools that give you the flexibility to pay off everyday purchases in full, accelerate payments to help pay down a balance faster, or pay off larger purchases over time; you can also set up account alerts and choose your payment due date
All of these account management tools are fairly common, but other U.S. Bank business credit cards offer even more, including the U.S. Bank FlexPerks Business Travel Rewards card. It offers a liability waiver, which covers eligible transactions billed or made 75 days prior to or up to 14 days after you terminate an employee.
Adding U.S. Bank Business Cash Rewards World EliteTM MasterCard® Employee Cards
You may request up to 10 employee cards when you submit your application. Once approved, you can ask for more if you need them. Employee cards like the master account card come with no annual fee. Most small business credit cards, even if the master account charges an annual fee, offers employee cards for free.
What the U.S. Bank Business Cash Rewards World EliteTM MasterCard® Is Missing
The U.S. Bank Business Cash Rewards World EliteTM MasterCard® offers both lower introductory and ongoing rewards than some other cash back rewards business credit cards.
U.S. Bank Business Cash Rewards World EliteTM MasterCard® Reviews
We searched the internet for U.S. Bank Business Cash Rewards World EliteTM MasterCard® reviews, which are generally positive. Users say they are happy with the card’s ongoing rewards and the ease with which awards can be redeemed. Negative reviews suggest this card doesn’t offer the same level of benefits as its competitors.
How to Apply for the U.S. Bank Business Cash Rewards World EliteTM MasterCard®
You can apply online for the U.S. Bank Business Cash Rewards World EliteTM MasterCard®. To get a business credit card, fill out a basic application containing both business and personal information, and you could be approved instantly. Once you’re approved, you’ll receive your card in the mail within seven to 10 days. If you’re not instantly approved, you can check your application status online. If you’re rejected, consider a business card for fair credit.
How to Login to Your U.S. Bank Business Cash Rewards World EliteTM MasterCard® Account
Login to your U.S. Bank Business Cash Rewards World EliteTM MasterCard® by providing your user ID and password. You can also contact customer service for at 866-485-4545.
Other U.S. Bank Business Credit Cards
U.S. Bank offers a number of small business credit cards designed for different kind of spending needs, including travel rewards and cash back. Find the card that best rewards your business’ spending.
The other U.S. Bank business credit cards include the:
- U.S. Bank Business Leverage Visa Signature Card: This card is best for business owners whose spending changes from month to month; you’ll earn two times the points per dollar spent on eligible net purchases in the top two categories out of 48 where you spend the most each month
- U.S. Bank Business Select Rewards Card:This card is best for owners who want to choose which bonus category offers the most rewards; you’ll earn three times the points in a spending category of your choice, including day-to-day expenses, automotive and travel and entertainment
- U.S. Bank FlexPerks Business Travel Rewards: This card is best for owners who have moderate travel budgets and can spend $24,000 annually on the card — the threshold at which your annual fee will be waived; you’ll earn two times the points on whichever category you spend the most on in a given month among airlines, gas stations or office supply stores; you’ll also earn two times the points on cellphone service and charitable donations
- U.S. Bank Business Platinum Card: This card is best for businesses that want cheap introductory and ongoing financing; the card comes with 0% introductory APR on purchases and balance transfers for the first 20 billing cycles and an ongoing APR as low as 9.99%
Alternatives to the U.S. Bank Business Cash Rewards World EliteTM MasterCard®
Some small business credit cards may offer bonus category rewards better suited to your business. If your business has more predictable spending needs across one or more spending categories, you may want to consider a different rewards credit card.