US Bank recently launched the Business Essentials business credit card. You can earn a $500 bonus after spending $5,000 within 150 days of account opening, and all purchases earn 2% cash back, which is quite practical for a no-annual-fee business card. In addition, if you also have an eligible US Bank business checking account and maintain at least $10,000 in qualifying balance, the first $10,000 in purchases each billing cycle can earn an increased 2.5% cash back. You can also earn 6% cash back on prepaid hotels and car rentals through the US Bank Travel Center.

Introduction to the US Bank Business Essentials Business Credit Card

Note: If you are not familiar with business credit cards, we recommend reading this first: Introduction to Business Credit Cards

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Full review

US Bank Business Essentials Credit Card

High cash back on all purchases, simple and hassle-free!

  • Welcome bonus: $500 (spend $5,000 within 150 days of account opening)
  • Rewards: 6% on prepaid hotels and car rentals through US Bank Travel Center; up to 2.5% on other purchases
  • Redemption: Redeem directly for cash
  • Annual fee: $0
  • Apply now>>

Benefits Analysis

  • Maintain a $10,000 balance to increase earnings to 2.5%: If you maintain at least a $10,000 Qualifying Balance in US Bank Business Essentials, Gold Business Checking, Gold Business Checking with Interest, or Platinum Business Checking, the first $10,000 in eligible purchases each billing cycle can earn an extra 0.5%, for a total of 2.5% cash back. However, purchases in education/schools, gift cards (including discount gift card websites), and tax payments only earn the base 2% cash back and are not eligible for the Business Essentials Earning Bonus. These purchases also do not count toward the $10,000 in 2.5% cash back spending each billing cycle.
  • 6% on hotels and car rentals through the Travel Center: You can earn 6% cash back when you prepay hotels and car rentals through the US Bank Travel Center and pay with this card. The rate is very high, but you do need to book through the bank’s own travel platform.
  • 0% APR for the first 12 billing cycles: New cards get 0% APR on purchases for the first 12 billing cycles. If you have just started a business and have relatively large equipment, advertising, or other startup expenses, this can provide a bit more cash-flow flexibility. However, this offer applies only to purchases, not balance transfers or cash advances.

My Take

The simplest thing about this card is that you do not need to think about spending categories. All eligible purchases earn unlimited 2% cash back, with no spending cap. For people who do not want to study the bonus categories on different business cards, it is very convenient to use.

As for keeping $10,000 in a US Bank Business Checking account specifically for 2.5% cash back, you will need to do the math. Compared with the base 2%, the extra return is only 0.5%, and it applies to at most $10,000 in purchases each billing cycle. Even if you max out $10,000 in spending every month, the extra cash back is only $600 per year. If that $10,000 could otherwise sit in a high-yield account at around 4% APY, the annual interest would be about $400. Looking at it this way, keeping money in a checking account long term solely for the extra 0.5% does not offer a particularly large advantage. If you already have US Bank Business Checking, are working on a bank account opening bonus, or your business’s operating cash would be parked there anyway, then it is a completely different story; getting 2.5% cash back along the way is still quite nice.

Application

  • This is a business credit card, so you need to provide information related to your company or personal business when applying. If you have not applied for a business credit card before, you can first read Introduction to Business Credit Cards.
  • Applying for this card does not require you to already have US Bank Business Checking. You can apply for and use the card normally even without a US Bank bank account; you simply will not be able to earn the additional 0.5% Business Essentials Earning Bonus.
  • You can check your US Bank application status on the official website, or call 800-947-1444 to ask.
  • US Bank is generally sensitive to recent hard pulls and new accounts. If you already have a banking relationship with US Bank, such as a US Bank Checking account, that may help somewhat with your credit card application.
  • More information on applying for US Bank credit cards

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