U.S. Bank Business Triple Cash Rewards Card Review 2024 – Newsweek Vault (2024)

Pros

• 3% back in common business expense categories
• Long intro APR offer
• $100 annual credit for recurring software subscriptions, such as QuickBooks

Cons

• Bonus categories won’t work for every business
• Sign-up bonus isn’t the largest among business credit cards
• Requires good-to-excellent credit

Vault’s Viewpoint on The U.S. Bank Business Triple Cash Rewards Card

The U.S. Bank Business Triple Cash Rewards Business Card is a versatile no-annual-fee business credit card for people who can take advantage of the card’s bonus categories. It offers 3% cash back in several business-related categories The card also comes with a nice set of perks, including a generous sign-up bonus, intro APR offer on purchases and balance transfers and a $100 annual credit for software subscriptions, like QuickBooks.

Despite the slew of features, the U.S. Bank Business Triple Cash Rewards Card isn’t a good fit for every business owner. If the card’s bonus categories aren’t for you, other cards offer a generous flat rate on all purchases. And if travel is a large part of your budget, Other issues, like Chase, offer business credit cards that make travel a rewarding experience for small business owners.

U.S. Bank Business Triple Cash Rewards Card Highlights

Annual Fee: $0

Sign-up bonus: $500 in cash back when you spend $4,500 on your card in the first 150 days of opening your account

Foreign transaction fees: 3%

Earning Rewards With the U.S. Bank Business Triple Cash Rewards Card

The Triple Cash’s rewards categories cover several popular spending areas, making it a potentially good everyday card for some business owners.

• 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center
• 3% cash back on eligible purchases at gas and EV charging stations, office supply stores, cellphone service providers, and restaurants
• 1% cash back on all other eligible purchases

Redeeming Rewards

You can redeem your cash back in the form of a statement credit, a U.S. Bank Rewards Card (a prepaid debit card), or a deposit to your U.S. Bank business checking, savings or money market account.

Rates and Fees

Like most rewards cards, this card offers friendly terms for people who pay their balance on time and in full each month. It even offers a generous 0% intro APR period for new cardholders. But you’ll want to avoid making late payments or carrying a balance in the long term.

• Annual fee: $0
• Intro APR: 0% intro APR on purchases and balance transfers for 15 months; after that, the variable APR rate applies
• Variable APR: 19.24 to 28.24%
• Penalty APR: 29.99%
• Cash advance APR: 29.99%
• Balance transfer fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
• Cash advance fee: Either 5% of the amount of each advance or $10 minimum, whichever is greater
• Late payment, over limit or returned payment fee: $40

Benefits of the U.S. Bank Business Triple Cash Rewards Card

• Software credit: Get a $100 annual statement credit for recurring software subscriptions.
• Pay over time: Finance purchases with the U.S. Bank ExtendPay® Plan.
• Free expense tracking software: Analyze your business spending with free reports.
• Free employee cards: Give your employees a card of their own for no additional charge.

Mastercard Benefits

The U.S. Bank Business Triple Cash Rewards Card can be issued by Visa and Mastercard, and each option comes with unique perks. The following benefits are available to those who have the Mastercard version of the U.S. Bank Business Triple Cash Rewards Card.

• Collision damage waiver insurance: This perk makes you eligible to receive auto rental coverage against damage or theft.
• Airport concierge: Get a 15% discount on Mastercard’s “Meet & Greet” escort service to guide you through the airport upon departure, arrival or any connecting flights at over 450 destinations worldwide.
• Mastercard lifestyle and travel services: Get a selection of premium travel perks, like access to Mastercard Luxury Hotels & Resorts Portfolio, upgrades and discounts on select airlines and elite status at participating car rental companies.
• Mastercard EasySavings® Program: Get automatic discounts on select business purchases.
• Mastercard ID Theft Protection™: Receive identity theft alerts and resolution services.

Visa Benefits

The following benefits are available to those who have the Visa version of the U.S. Bank Business Triple Cash Rewards Card.

• Auto rental collision damage waiver: Charge your entire auto rental transaction amount to your eligible card and decline the extra collision insurance (or loss damage waiver) from the rental company, and you’ll get auto rental coverage against damage or theft.
• Travel and emergency assistance services: Get help coordinating medical, legal, and travel services 24 hours a day.
• Purchase security: Replace, repair, or get reimbursed for your eligible items of personal property purchased entirely with your eligible credit card within 90 days.
• Extended warranty: Double the time period of the original manufacturer’s written U.S. warranty up to one additional year on warranties of three years or less — up to a maximum of $10,000 per claim.
• Visa discounts: Get discounts and gift-with-purchase offers from a collection of popular online and in-store retailers.
• Visa SavingsEdge: Save up to 15% on business purchases with select merchants.
• Visa Spend Clarity: Access a free tool that syncs expenses, sets employee card controls and generates reports.

Who Is the U.S. Bank Business Triple Cash Rewards Card Best For?

If you’re a business owner and this card’s cash back categories are relevant to you, it’s a great pick. It’ll cost you nothing to carry if you pay your bill on time and in full each month and comes with a nice set of additional features to enhance the card’s value. Plus, you’ll start out with a nice chunk of change if you can earn the sign-up bonus.

Who Should Consider An Alternative to the U.S. Bank Business Triple Cash Rewards Card?

This card does a lot of things well, but it doesn’t have any best-of-the-best features. For example, you can find better sign-up bonuses on other business credit cards, namely the Chase Ink and Capital One Spark cards.

And if these bonus categories aren’t a regular portion of your business’s budget, you’re going to do better with a different card. A flat-rate rewards card could be a good option if your spending tends to be varied or if you don’t want to worry about bonus categories.

How Does The U.S. Bank Business Triple Cash Rewards Card Stack Up To Its Competitors?

The Triple Cash Rewards Card is a top player among cash back cards for small business owners. Here’s how it compares to similar credit cards.

U.S. Bank Business Triple Cash Rewards Card vs. U.S. Bank Business Altitude™ Connect World Elite Mastercard®

Also issued by U.S. Bank, the U.S. Bank Business Altitude™ Connect World Elite Mastercard® occupies a different niche: business travel rewards. Instead of earning cash back, this card racks up points on every purchase, with an elevated rate for travel, dining and cellphone services.

Points can be redeemed for both cash back and travel through U.S. Bank’s travel portal. The Triple Cash Rewards card actually earns a better rate on dining and the same rate on travel, despite being fee-free. So why does the Business Altitude™ Connect card charge an annual fee? It offers Priority Pass Select airport lounge access (four visits per year).

U.S. Bank Business Triple Cash Rewards Card vs. Ink Business Cash® Credit Card

The Ink Business Cash® Credit Card is similar to the Triple Cash Rewards Card, offering elevated cash back rates in business-focused categories, including 5% back at office supply stores and internet, cable and phone services (up to $25,000 spent in combined purchases each account anniversary year, then 1%). It also earns 2% cash back at restaurants and gas stations up to $25,000 spent combined each account anniversary year (then 1%).

The Ink Business Cash also has a better welcome offer but a shorter intro APR period. The U.S. Bank card might be a better option if you anticipate spending more than $25,000 at office supply stores and on internet, cable and phone services or if you frequently spend at restaurants and gas stations in our view. The software credit is also appealing for some businesses, like those who use QuickBooks.

The Chase card may be a better option for everyone else since it offers a higher sign-up bonus and more redemption options, including travel.

U.S. Bank Business Triple Cash Rewards Card vs. The American Express Blue Business Cash™ Card

The American Express Blue Business Cash™ Card appeals to business owners who prefer simplicity or have expenses that don’t align with typical bonus categories. It earns 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%—no bonus categories to remember.

The sign-up bonus is less impressive than the Triple Cash Card’s offer: just a $250 statement credit after you make $3,000 in purchases on your card in your first three months. But if your business expenses tend to be niche and don’t fit neatly into traditional bonus categories like dining or travel, the Blue Business Cash can be a remedy.

For example, if you typically spend $2,000 on construction supplies each month, you’d only earn 1% cash back with the U.S. Bank Triple Cash Rewards Card, which comes out to $240 for the year. But with the Blue Business Cash, you’d earn double the cash back, totaling $480 for the year just from your construction supplies purchases.

Is The U.S. Bank Business Triple Cash Rewards Card Worth It?

Since it’s a no-annual-fee card, you don’t have much to lose by carrying it. If the bonus categories look a lot like your most common business expenses, the U.S. Bank Business Triple Cash Rewards Card can be a handy tool for raking in cash back.

If you’re not big on spending on gas and EV charging stations, office supply stores, cell phone service providers, and restaurants, you might want to consider a different card. When in doubt, you can’t go wrong with a flat-rate rewards card.