US Bank Business Essentials Plus Credit Card Review
Key Takeaways
The U.S. Bank Business Essentials Plus Visa Signature can be a great option for businesses with significant spending in one of its 5% categories. It automatically earns 5% cash back in your highest eligible spending category each month on up to $200,000 in annual purchases, with categories including office supplies, shipping, utilities, airlines, dining, and more. The 100,000-point welcome offer, paid as cash back, also helps offset the $295 annual fee, though the spending requirement is high at $15,000 in the first 150 days. The biggest negative is that you cannot transfer points to travel partners, so you're limited to cash back or U.S. Bank travel portal redemptions at 1 cent per point.
Why This Card Could Be Right For You
The U.S. Bank Business Essentials Plus Visa Signature can be valuable for businesses with significant spending concentrated in one of its eligible 5% categories. The card automatically identifies your highest eligible spending category each month and earns 5% cash back in that category on up to $200,000 in purchases per year.
Eligible 5% categories include:
- Accounting and tax services
- Airlines
- Cell phone service providers
- Dining
- Entertainment
- Office supply stores
- Postal and shipping services
- Utilities
That's a particularly strong list for businesses with substantial expenses in areas like office supplies, shipping, or utilities. You don't need to select a category either, since U.S. Bank automatically applies the 5% rate to your highest eligible category each month.
You'll also earn a 100,000-point welcome offer (redeemable as cash back) after spending $15,000 in the first 150 days. While the signup bonus is large and helps offset the $295 annual fee in the first year, the spending requirement is also significant. If you can meet it while putting a large amount of that spending into a 5% category, you could earn a substantial amount of cash back in the process.
You'll also earn:
- 2% cash back on all other purchases
- 10% cash back on prepaid hotels and car rentals booked through the U.S. Bank Travel Center
You can increase your base earning rate from 2% to as much as 3.5% on up to $200,000 in eligible purchases per year by maintaining qualifying balances in a U.S. Bank business checking account. You'll earn 2.5% with $15,000-$74,999 in qualifying balances, 3% with $75,000-$149,999, and 3.5% with $150,000 or more.
We wouldn't move a large amount of money to U.S. Bank solely to earn these higher rates. But if your business already keeps significant cash in a qualifying U.S. Bank account, earning as much as 3.5% on purchases outside your 5% category could make this card even more valuable.
When The Usual Advice Doesn't Apply
You probably shouldn't get this card if:
- Your business doesn't spend heavily in any of the eligible 5% categories. Without taking advantage of the card's biggest strength, it will be harder to justify the $295 annual fee.
- You prefer earning transferable points. Despite the potentially high earning rates, these points can't be transferred to airline or hotel partners, limiting the upside compared to cards earning transferable rewards.
- You won't naturally spend $15,000 in the first 150 days. The welcome offer is valuable, but we don't recommend increasing your spending just to earn it.
What to Know About U.S. Bank Rewards
U.S. Bank Rewards offers straightforward redemptions, but if you have an Altitude Reserve, you can unlock additional value through transfer partners.
- Most U.S. Bank rewards are worth 1 cent each when redeemed for eligible travel or cash back, although redemption options and values vary by card.
- The U.S. Bank Altitude Reserve offers transfers to a small group of airline and hotel partners, giving cardholders another way to use their points. Unfortunately the card remains closed to new applicants.
- U.S. Bank Rewards is best for travelers who value simple redemptions.
- Transfer partners add more upside for Altitude Reserve cardholders, but the program remains more limited than the major transferable points programs.
How The US Bank Business Essentials Plus Credit Card Fits In The U.S. Bank Rewards Ecosystem
U.S. Bank offers several business credit cards, but the best alternative to the Business Essentials Plus depends largely on how much your business spends and where that spending occurs.
U.S. Bank Business Essentials Visa: This no-annual-fee card is the simpler alternative to the Business Essentials Plus. It offers:
- A 40,000 welcome offer after spending $5,000 in the first 150 days
- 2% cash back on all purchases
- 6% cash back on prepaid hotels and car rentals booked through the U.S. Bank Travel Center
The Business Essentials is a better fit if you want simple cash back and don't spend enough in the Plus card's 5% categories to justify its $295 annual fee.
U.S. Bank Business Altitude Connect: The annual fee is waived the first year but has a $150 annual fee in the second year, and it offers:
- A 60,000-point welcome offer after spending $6,000 in purchases within 180 days
- 5x points on prepaid hotels and car rentals booked through the U.S. Bank Travel Center
- 4x points on travel, gas, and EV charging stations on the first $150,000 in combined annual spending
- 2x points on dining, takeout, restaurant delivery, and cell phone service providers
The Business Altitude Connect may be a better option if your spending is concentrated in travel, gas, or EV charging rather than one of the Business Essentials Plus card's 5% categories.
U.S. Bank Triple Cash Rewards Business Card: This no-annual-fee card offers:
- A 50,000-point welcome offer, redeemable as cash back, after spending $4,500 in the first 6 months
- 3% cash back at gas stations, EV charging stations, office supply stores, cell phone service providers, and restaurants
- 5% cash back on prepaid hotels and car rentals booked through the U.S. Bank Travel Center
The Business Essentials Plus stands out if your business spends heavily in one of its eligible 5% categories. For businesses without that level of concentrated spending, one of U.S. Bank's no-annual-fee options may provide better value.
Card Information
Differentiating Perks
Rules
Historical Card Offers
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US Bank Business Essentials Plus Application Rules
This business card will not show on your personal credit report, so it won't count against your 5/24 status
You are ineligible for the signup bonus on certain U.S. Bank cards if you previously had that same card.
Card approval not subject to 5-personal-cards-in-24-months rule
You'll be declined if there are 6 or more hard inquiries on your credit report the past 6 months
