A $500 welcome bonus and no annual fee: The new U.S. Bank Triple Cash Rewards card
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It seems like new and revamped rewards cards are appearing on the scene every day, and the latest entrant is the U.S. Bank Triple Cash Rewards World Elite™ Mastercard®.
The new U.S. Bank Triple Cash Rewards card earns up to 3% cash back on a variety of purchases, but does not charge an annual fee, making it a solid choice for some small-business owners. That said, you might do better with one of its competitors depending on where your business spends the most money, or if you’re looking for rewards beyond simple cash back.
Here are the details on the new U.S. Bank Triple Cash Rewards card, and how it stacks up against the competition.
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U.S. Bank Triple Cash Rewards card details
The new U.S. Bank Triple Cash Rewards World Elite Mastercard has launched with an interesting welcome offer and earning rates many small-business owners should appreciate.
Current welcome offer
Earn $500 cash back after spending $4,500 on purchases in the first 150 days of opening your account. Plus, get 0% introductory APR on purchases and balance transfers for the first 15 billing cycles (after that it adjusts to a variable APR of 13.99%-22.99%).
The U.S. Bank Triple Cash Rewards card earns 3% cash back on eligible purchases at:
It earns 1% cash back on all other eligible purchases, and there are no spending caps.
$100 software credit
Cardholders earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or QuickBooks.
World Elite Mastercard benefits
As a World Elite Mastercard, the U.S. Bank Triple Cash Rewards card offers various perks standard, including:
- Cellphone protection of up to $800 per claim, two claims per year, and $1,000 per year in coverage against theft or damage.
- A $5 Lyft credit when you take at least three rides in a month.
- A complimentary three-month DoorDash DashPass membership.
- ShopRunner membership for free two-day shipping from over 100 retailers.
- Bookings through the Mastercard Luxury Hotel & Resorts portfolio.
- World Elite Mastercard concierge service.
Is the U.S. Bank Cash Triple Cash Rewards card worth it?
For a card with no annual fee, the U.S. Bank Triple Cash Rewards card has a lot going for it.
First, that introductory financing of 0% APR for the first 15 billing cycles (then 13.99% to 22.99% variable APR) can come in handy if you have purchases or balance transfers that you need to pay off over time. Just be wary of doing so since your business credit score might take a hit for carrying a balance.
The card is a decent earner, too, raking in 3% cash back on some pretty broad categories including office supply stores, restaurants, gas stations and cellphone service providers.
If your business uses software subscriptions like QuickBooks, then earning a $100 annual statement credit is just icing on the cake. You also might want to consider applying for this card if you already carry business credit cards from other major issuers, such as Amex or Chase, but are looking to branch out.
That said, the card’s welcome bonus isn’t very compelling. You have to spend $4,500 to get a mere $500 cash back. It’s still a lower spending requirement than the high-end business cards out there, but something to consider.
Finally, if your business doesn’t spend much in the card’s bonus categories, you’re probably not going to find much value here either since it only earns 1% cash back beyond them.
Alternatives to the U.S. Bank Triple Cash Rewards card
If you’re in the market for a small-business credit card, you might want to consider some of the other options currently available, because of higher welcome offers, better ongoing earning or superior benefits.
Depending on your spending habits, this card might be a more natural fit. Like the U.S. Bank Triple Cash Rewards World Elite Mastercard, the Ink Business Cash does not charge an annual fee.
It’s currently offering $750 cash back after you spend $7,500 on purchases in the first three months of account opening, and is offering 0% introductory APR on purchases for the first 12 months (13.24%-19.24% variable APR after that).
It earns 5% cash back on the first $25,000 spent in combined purchases each account anniversary year at:
- Office supply stores.
- Internet, cable and phone services.
It earns 2% each back on the first $25,000 spent in combined purchases each account anniversary year at:
- Gas stations.
It earns 1% cash back on everything else.
The bonus categories are eerily similar to those offered by the U.S. Bank Triple Cash Rewards card, and though there are spending caps, if you can max out those 5% categories and the introductory bonus with this card, you might come out ahead.
Also remember that points earned with the Ink Business Cash can be combined with those from a card that earns transferable Ultimate Rewards points, such as the Ink Business Preferred Credit Card, and you can then transfer the points to the program’s airline and hotel partners, which opens up all kinds of opportunities simple cash back might not.
It’s never a bad thing when a new rewards credit card appears on the scene. The U.S. Bank Triple Cash Rewards card offers a strong earning formula, great introductory financing and the appeal of charging no annual fee. That said, depending on your typical business expenses and the types of rewards you’re interested in earning, you might be better off with one of its competitors.
Featured photo by Hero Images/Getty Images.
Welcome to The Points Guy!
Earn 50,000 bonus miles and 5,000 Medallion® Qualification Miles (MQMs) after you spend $2,000 in purchases on your new card in the first three months of card membership. Plus, earn up to $100 back in statement credits for eligible purchases at U.S. restaurants in the first three months of card membership.
With Status Boost™, earn 10,000 Medallion Qualification Miles (MQMs) after you spend $25,000 in purchases on your Card in a calendar year, up to two times per year getting you closer to Medallion Status. Earn 3X Miles on Delta purchases and purchases made directly with hotels, 2X Miles at restaurants and at U.S. supermarkets and earn 1X Mile on all other eligible purchases. Terms Apply.
- Earn 50,000 Bonus Miles and 5,000 Medallion® Qualification Miles (MQMs) after you spend $2,000 in purchases on your new Card in your first 3 months.
- Plus, earn up to $100 back in statement credits for eligible purchases at U.S. restaurants with your card within the first 3 months of membership.
- Earn up to 20,000 Medallion® Qualification Miles (MQMs) with Status Boost® per year. After you spend $25,000 in purchases on your Card in a calendar year, you can earn 10,000 MQMs two times per year, getting you closer to Medallion® Status. MQMs are used to determine Medallion® Status and are different than miles you earn toward flights.
- Earn 3X Miles on Delta purchases and purchases made directly with hotels.
- Earn 2X Miles at restaurants worldwide, including takeout and delivery and at U.S. supermarkets.
- Earn 1X Miles on all other eligible purchases.
- Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card. *Payment of the government imposed taxes and fees of no more than $75 for roundtrip domestic flights (for itineraries with up to four flight segments) is required. Baggage charges and other restrictions apply. See terms and conditions for details.
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- Fee Credit for Global Entry or TSA Pre✓®.
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- No Foreign Transaction Fees.
- $250 Annual Fee.
- Terms Apply.
- See Rates & Fees