U.S. Bank Business Cash Rewards World Elite Mastercard Review: Fuel Your Business With Rewards [2020]

The U.S. Bank Business Cash Rewards World Elite Mastercard offers business owners the opportunity to earn lucrative rewards.
Last updated Sep 25, 2020 | By Ben Walker

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To help boost the rewards you earn on your everyday business purchases, consider looking into U.S. Bank credit cards. If you compare credit cards from different card issuers, you’ll find that U.S. Bank offers a variety of useful cards to choose from, including both consumer and small business credit cards.

In this U.S. Bank Business Cash Rewards World Elite Mastercard review, you’ll learn who this card is best for, its benefits and drawbacks, and how you can use it to earn and redeem rewards. This will help you decide whether the U.S. Bank Business Cash Rewards World Elite Mastercard would be a good fit for you.

No Annual Fee & 0% Intro APR

U.S. Bank Business Cash Rewards World Elite Mastercard

U.S. Bank Business Cash Rewards World Elite Mastercard

U.S. Bank Business Cash Rewards World Elite Mastercard

Benefits

  • $500 sign-up bonus
  • 0% intro APR on purchases and balance transfers for 15 billing cycles
  • 3% cash back at gas stations, office supply stores, and on cell phone/service providers
  • 25% annual cash back bonus on your card opening anniversary

Drawbacks

  • No bonus points for travel
  • Has foreign transaction fee

Jump To

Who should get the U.S. Bank Business Cash Rewards World Elite Mastercard?

There’s no doubt about it, if you run a business, a business credit card can be a valuable asset to have. With a business card like the U.S. Bank Business Cash Rewards World Elite Mastercard, you can easily separate your business expenses from your personal expenses. This makes it easier for you to track your business spending and properly file your taxes when the time comes.

In addition, the U.S. Bank Business Cash Rewards card is one of the best cashback credit cards available for business owners. Cashback cards are an ideal resource for earning rewards on every purchase you make. With this card, you earn 3% cash back at gas stations, office supply stores, and on cell phone/service providers, and 1% cash back on everything else.

The bonus categories and earning rate make it easy for you to get money back on business expenses you’re probably already paying for. It also doesn’t hurt that the annual fee is $0, so there’s no extra cost to having the card.

Card basics

Card type Business
Credit card issuer U.S. Bank
Credit card network Mastercard
Annual fee $0
Intro bonus Earn $500 after you spend $4,500 on eligible purchases in the first 150 days
Reward rate 3% cash back at gas stations, office supply stores, and on cell phone/service providers, and 1% cash back on everything else
Recommended credit score Excellent
Intro APR 0% intro APR on balance transfers for 15 billing cycles; 0% intro APR on purchases for 15 billing cycles
Foreign transaction fee 2% to 3%

U.S. Bank Business Cash Rewards World Elite Mastercard benefits and perks

  • Generous sign-up bonus: Earn $500 after you spend $4,500 on eligible purchases in the first 150 days of account opening.
  • Rewards for purchases: Earn 3% cash back at gas stations, office supply stores, and on cell phone/service providers, and 1% cash back on everything else.
  • Introductory APR: This card offers 0% intro APR on balance transfers for 15 billing cycles and 0% intro APR on purchases for 15 billing cycles.
  • 25% annual bonus: Each year on your account anniversary, receive 25% of the cash back you earned the previous year, up to $250.
  • Cell phone protection: Receive complimentary cell phone protection coverage for damage or theft of covered cell phones. Up to $800 per claim and $1,000 per year with a maximum of two claims per year.
  • Free employee cards: Cardholders can also get free employee cards, which can come in handy for managing your business expenses.

Drawbacks to the U.S. Bank Business Cash Rewards World Elite Mastercard

Earning and redeeming cash back with the U.S. Bank Business Cash Rewards World Elite Mastercard

Potential earnings in years one and two

Here's a look at how your cash back can add up with the U.S. Bank Business Cash Rewards World Elite Mastercard.

Remember, this is an estimation. The actual value will be determined by how much you spend and in which categories you spend.

Year one earnings: $883

Year two earnings: $383

These values are based on the FinanceBuzz Credit Card Rewards Valuation Model, which looks at points earned via spending, the sign-up bonus, and the annual fee. When you factor in the 25% cashback rewards bonus (up to $250) that you can get with this card each year, your earnings will be even higher.

Best ways to earn

The best way to earn cash back with the U.S. Bank Business Cash Rewards World Elite Mastercard is by using your card on purchases that fall within its bonus categories. These categories offer the highest rewards rate, so they’ll help you earn the most cash back possible.

Categories Rewards rate
Eligible gas station, office supply store, and cell phone/service provider purchases 3%
All other eligible purchases 1%

Maximizing your redemptions

The U.S. Bank Business Cash Rewards World Elite Mastercard offers great opportunities to earn cashback rewards on your business expenses. The best part about these rewards, though, is being able to redeem them.

With this card, you have redemption options for:

  • Deposits into U.S. Bank accounts: Redeem rewards for a deposit into an eligible U.S. Bank savings, checking, or money market account.
  • A U.S. Bank Rewards Card: Redeem rewards for a U.S. Bank Rewards Card you can use anywhere Visa or Mastercard debit cards are accepted.
  • A statement credit to your account: Redeem rewards to receive a statement credit on your credit card account.

Keep in mind, the cashback rewards you earn can only be redeemed in increments of $25, with a minimum of $25 to start. So with any of the three above redemption options, you’d have to have at least $25 in cash back to redeem, and then you can redeem in $25 increments ($50, $75, $100, etc.) from there.

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

What credit score do you need to get a U.S. Bank Business Cash Rewards World Elite Mastercard?

You likely need an excellent credit score to qualify for the U.S. Bank Business Cash Rewards World Elite Mastercard. Excellent credit is the highest level of credit scores and typically starts around 800.

Is the U.S. Bank Business Cash Rewards World Elite Mastercard a good card?

If you’re a business owner, the U.S. Bank Business Cash Rewards World Elite Mastercard is a great card to have. It offers fantastic rewards on common business expenses, like gas station, office supply store, and cell phone/service provider purchases. This makes it easy to rack up cash back you can redeem for U.S. Bank account deposits, a U.S. Bank Rewards Card, or a statement credit on your credit card account.

Does U.S. Bank automatically increase your credit limit?

U.S. Bank may automatically increase your credit limit if you regularly use your U.S. Bank credit card and pay it off in full each month. If you haven’t received an automatic credit line increase, you can contact U.S. Bank’s customer service to request one. This request can be made directly through your online account on the U.S. Bank website or the U.S. Bank mobile app. You can also call the number on the back of your credit card or 1-800-872-2657.

Does U.S. Bank give instant credit card approval?

Yes, U.S. Bank offers instant credit card approval on its credit cards. You’ll typically receive an answer immediately when you’ve finished and submitted a U.S. Bank credit card application online.

Other cards to consider

The U.S. Bank Business Cash Rewards World Elite Mastercard can provide you with plenty of rewards, but it may not be the best fit for every financial situation. For other options, consider the following from the Chase credit cards and American Express credit cards lineups.

The Chase Ink Business Cash offers 5% cash back at office supply stores and on internet, cable, or phone services (up to $25,000 combined annually); 2% cash back at gas stations and restaurants (up to $25,000 combined annually); and 1% cash back on everything else. These spending categories and rates are slightly different from the U.S. Bank Business Cash Rewards, so the choice depends on what categories you typically spend more on.

The Blue Business Plus Credit Card from American Express is also a decent alternative if you prefer earning travel rewards instead of cash back. Cardmembers get 2X Membership Rewards points on business purchases up to $50,000 each year, and 1X points on purchases after that.

No Annual Fee & 0% Intro APR

U.S. Bank Business Cash Rewards World Elite Mastercard

U.S. Bank Business Cash Rewards World Elite Mastercard

U.S. Bank Business Cash Rewards World Elite Mastercard

Special Offer

Earn $500 after you spend $4,500 on eligible purchases in the first 150 days

See how these cards compare:

Chase Ink Business Cash Credit Card
Chase Ink Business Cash Credit Card
  • $500 cash back sign-up bonus
  • No annual fee
  • 0% intro APR on purchases for 12 months
  • Up to 5% cash back
The Blue Business Plus Credit Card from American Express
The Blue Business Plus Credit Card from American Express
  • Up to $300 in statement credits at Dell Technologies, DocuSign, and FedEx
  • 0% intro APR on purchases
  • 2X Membership Rewards Points on first $50,000 each year
  • Global Assist hotline
  • No annual fee
  • Terms apply