U.S. Bank Business Cash Rewards World Elite Mastercard Review

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The U.S. Bank Business Cash Rewards card offers a high cash-back rate on gas purchases (as well as office supplies and wireless services), which could be handy for small-business owners such as rideshare drivers and others whose business keeps them on the road.

U.S. Bank Business Cash Rewards World Elite™ Mastercard®

Overall Rating
4.5
U.S. Bank Business Cash Rewards World Elite™ Mastercard®
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Excellent
Regular APR (%) 13.99% - 22.99% variable
Annual Fee $0
Rewards Earning Rate Earn 3% cash back on eligible purchases at gas stations, office supply stores and cell phone/service providers. Plus you'll earn 1% cash back on all other eligible purchases.
INTRO PURCHASE APR 0% for 12 Billing Cycles
Cash Advance APR (%) 25.99%
Cash Advance Fee Either $10 or 5% of the amount of each cash advance, whichever is greater.
Ratings Breakdown
for Interest
2.9
for Fees
5.0
for Rewards
1.5
Current Offer

Earn $500 cash back. Just spend $3,000 in the first 90 days of opening your account.

Top Rated For

Who Is This Credit Card Best For?

  • Avatar for Entrepreneur Persona
    Is turning their passion into a money-making venture See more cards
    Entrepreneur
  • Avatar for Deal Seeker Persona
    Diligently searches for the best products and delights in a good bargain See more cards
    Deal Seeker
  • Avatar for Savvy Saver Persona
    Prioritizes sticking to their budget while buying what they want and need See more cards
    Savvy Saver
  • Avatar for Road Warrior Persona
    Hits the road often, whether for work or play See more cards
    Road Warrior

If you have a business that requires you to drive a lot, the U.S. Bank Business Cash Rewards card might be right for you. It’s one of the few business cards to offer a higher earnings rate (3%, to be exact) for gas purchases. 

Some gas purchases won’t count for the higher rate, notably those made at convenience stores, warehouse stores like Costco, and supermarkets. Gas purchases for over $200 also don’t count toward earning the higher rate. (All will still earn 1% cash back.) 

The U.S. Bank Business Cash Rewards card also offers this higher cash-back rate on cellphone bills and at office supply stores, too. But if these are your primary spending categories, we’d recommend looking for a business card that offers better rates on those types of spending.

Pros
  • 25% annual bonus

  • Good earnings rate on business gas purchases

  • Easy-to-earn welcome offer

Cons
  • Hard-to-reach new-cardholder bonus

  • $25 redemption increments

  • Possible to lose your rewards

Pros Explained

  • 25% annual bonus: Each year on your cardholder anniversary you’ll get a bonus of 25% of all the cash back you earned in the previous year. For example, if you earn $100 in cash back during your first year, you’ll get a $25 bonus at the start of your second year. The maximum annual bonus you can get is $250. 
  • Good earnings rate on business gas purchases: You’ll earn 3% cash back on gas purchases for your business. This is among the best gas rewards rates out there, especially for a business card. 
  • Easy-to-earn welcome offer: New cardholders don't have to jump through hoops to earn the bonus offered by this card. Just spend $3,000 within three months after opening your account and $500 of cash back is yours.

Cons Explained

  • $25 redemption increments: Your rewards never expire on their own, but you can only redeem them in $25 increments. Should you decide to close the card, but still have a balance of $24 in cash back, for example, you’d lose your rewards. 
  • Possible to lose your rewards: Make sure you set up autopay with this card. If you make two or more late payments in a row, you’ll forfeit your entire balance of cash-back rewards. 

U.S. Bank Business Cash Rewards World Elite Mastercard Bonus for New Cardholders

This card's bonus offer is straightforward and easy to earn: Spend $3,000 within 90 days of opening an account, and you'll get $500 of cashback rewards. That's a decent chunk of change compared to other no-annual-fee business rewards card offers available right now.

This card also includes a 12-month 0% APR offer, so you won’t pay interest on purchases as you work toward earning the bonus.

Earning Points & Rewards

The rewards program for the U.S. Bank Business Cash Rewards card is fairly straightforward. You’ll earn at least 1% cash back on all purchases, and 3% cash back on most gas purchases, on cell service bills, and at office supply stores. There are few other options out there for business owners to earn the same or more on gas purchases. 

Redeeming Rewards

Redeeming your rewards is also simple, but there are some strings attached. 

You can only redeem your rewards in increments of $25. That requires you to spend at least $834 on gas/office supplies/cell service, or $2,500 on anything else (or somewhere in between for a combination of category spending). If your business doesn’t have a ton of expenses (which may be why you might be interested in a no-annual-fee card in the first place), it might take you a while to reach the threshold. 

Your options for how to get that cash are threefold. The simplest for most people will be to opt for a statement credit. You can also get your cash in the form of a U.S. Bank Rewards Card (like a prepaid debit or gift card). Finally, if you already have a U.S. Bank savings, checking, or money market account, you can opt to have your rewards deposited into one of those accounts. 

How to Get the Most Out of This Card

Make sure you spend enough to earn the $500 new-cardholder bonus by spending at least $1,000 each month, on average, for three months after opening your account. Remember that you could also wipe out that spending requirement with a large purchase and have a year to pay off the expense under the 12-month, 0% APR deal.

We also recommend this card for business owners who want to get something back for all of their gas spending. The 3% earnings on office supply and wireless phone purchases are also nice boosts. Depending on your business spending, you might consider pairing this card with another that offers rewards-earning rates on dining out or travel, or even a flat-rate card that gives you 1.5% back on every purchase. 

U.S. Bank Business Cash Rewards World Elite Mastercard’s Excellent Perks

This card offers one perk that we think could be particularly useful for you as a business owner:

  • Cellphone coverage: Although this policy is secondary to any other insurance you have, if you lose your phone or it’s stolen, you can file a claim for up to $1,000 each year (or up to $800 each time, for up to two claims per year). 

Customer Experience

U.S. Bank ranked next to last in the 2020 J.D. Power survey of customer satisfaction among the major U.S. credit card issuers. It scored 786 out of 1,000 possible points. The industry average was 810. Only one bank—Credit One Bank—rated lower than U.S. Bank. 

However, it’s important to note that U.S. Bank does offer 24/7, U.S.-based customer support for this card. It also offers a mobile app that you may find useful as you’re driving around with this card. You can lock and unlock your card through the app, set travel notifications, and more. 

Security Features

This card comes with basic security features, such as 24/7 fraud monitoring and zero fraud liability.

Fees to Watch Out For

This card comes with some rather specific fees and a lot of them, especially for business owners. For example, if you travel abroad you’ll pay either a 2% foreign transaction fee for purchases made in U.S. dollars, or a 3% foreign transaction fee for purchases made in a foreign currency. 

Next Steps
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CURRENT CARD
U.S. Bank Business Cash Rewards World Elite™ Mastercard®
overall rating
4.5
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Excellent
Regular APR (%) 13.99% - 22.99% variable
Annual Fee $0
Rewards Earning Rate Earn 3% cash back on eligible purchases at gas stations, office supply stores and cell phone/service providers. Plus you'll earn 1% cash back on all other eligible purchases.
Our Methodology
At The Balance, we are dedicated to giving you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.
  • Our Reviews Are Always Impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive. The scores and reviews come directly from the data we collect and our editorial expertise, and we focus on three areas:
  • How Much Does It Cost? With credit card debt at an all-time high, we believe you should know the cost of carrying a balance. Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees.
  • What Are the Rewards Worth? Cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely. To simplify the problem, we built a system that fairly compares rewards and gives them a dollar value. We do this by looking at the ways you can earn and use rewards, which includes evaluating Americans’ typical spending habits and analyzing common travel patterns.
  • Does It Make Your Life Easier? Our scoring system favors cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting customer service. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges.
  • For every review on The Balance, we hold the credit cards to these standards, and we set the bar high. While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. See our full methodology for more details.

Article Sources

The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .
  1. U.S. Bank. "U.S. Bank Business Cash Rewards World Elite™ Mastercard®." Accessed Jan. 26, 2021.

  2. J.D. Power. "Customers Losing Faith in Credit Card Issuers as COVID-19 Pandemic Lingers, J.D. Power Finds." Accessed Jan. 26, 2021.