US Bank Business Cash Rewards World Elite Mastercard 2021 review – Forbes Advisor
The US Bank Business Cash Rewards World Elite Mastercard earns 3% cash back on purchases at office supply stores and gas stations. 1% cash back on all other purchases. There is no limit to the amount of Cash Back you can earn, but purchasing at gas stations over $ 200 will only earn 1% Cash Back. Cash back post at the end of your statement cycle.
Additionally, the card offers a 25% annual bonus on rewards earned, up to $ 250.
The rewards on this card are earned in the form of cash back, which can be redeemed through the US Bank’s website in one of three ways:
- Credit on statement
- Transfer to a U.S. bank deposit account
- US Bank Rewards card, prepaid debit card
Redeeming rewards is simple, but not automatic. Additionally, rewards can only be redeemed in $ 25 increments after posting to your account.
Using data from various government agencies, Forbes Advisor has developed estimates of how much a family in the 70th income percentile spends each year in various categories. We base our assumptions on a sole proprietorship in this income range. The 70th percentile of salaried households report $ 100,172 per year and $ 26,410 in expenses can be billed to credit cards. These numbers are used to estimate the potential rewards of that credit card.
The US Bank Business Cash Rewards World Elite Mastercard earns 3% cash back on purchases made at office supply stores and gas stations. Our example of a small business spends $ 2,687 at gas stations each year and has $ 2,538 in business expenses. Assuming all of these business expenses are office supply stores and cell phone costs, you could earn $ 157 in cash for your bonus category purchases.
In addition to gasoline and business expenses, our example household has $ 21,185 in expenses that can be charged to credit cards. If you put all of your non-bonus spending on this card, you could earn an additional $ 212 in cash back each year.
Since this card offers an annual bonus of 25% per year, our example family could expect to earn $ 92 in additional rewards at the end of the membership year. With that in mind, you can expect to earn $ 461 in rewards each year on top of the first year bonus. That’s fine, but it’s not some of the best cash back on the market for a no annual fee credit card.