U.S. Bank’s New Business Credit Cards Deliver Strong Cash Back — But Is the Premium Card Worth the Fee?

U.S. Bank launched two new business credit cards on Sept. 28: the U.S. Bank Business Essentials Visa® Card and the U.S. Bank Business Essentials Visa Signature® Plus Card.

U.S. Bank Business Essentials Visa® Card

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Both cards offer unlimited 2% cash back on eligible purchases, with enhanced rates for cardholders who hold qualifying U.S. Bank business checking accounts.

With the Business Essentials Card, you earn 2.5% on your first $10,000 in eligible purchases each month. To qualify, you need a rolling 30-day average end-of-day balance of at least $10,000 in your business checking account.

The Business Essentials Plus uses a tiered structure based on account balance:

Cash-back rate | Qualifying balance

2.5% | $15,000 to $74,999

3% | $75,000 to $149,999

3.5% | $150,000+

Both cards cap bonus rewards, though U.S. Bank frames the Plus cap as an annual limit of $200,000 versus the standard card’s monthly cap. According to a U.S. Bank spokesperson, the difference reflects distinct customer segments: the Business Essentials targets small businesses with annual revenues below $500,000, while the Plus serves larger small businesses.

A key distinction is the annual fee. The Business Essentials carries none; the Plus charges $295. The Plus does offer a 0% intro APR period, which the base card lacks.

Here is a side-by-side comparison:

Feature | Business Essentials Card | Business Essentials Plus

Bonus category cash back | None | 5% on top eligible spend category each month (up to $200,000 annually, automatic)

Prepaid travel | 6% cash back on hotels and car rentals via U.S. Bank Travel Center | 10% cash back on hotels and car rentals via U.S. Bank Travel Center

Welcome bonus | $500 cash back after $5,000 spend in first 150 days | $150,000+

0% intro APR | 12 billing cycles (then 16.99%-27.99% variable) | None

Foreign transaction fee | 3% | None

Visa benefits | Traditional level | Signature level with added travel accident insurance and lost luggage reimbursement

Both cards include U.S. Bank’s ExtendPay service, which splits eligible purchases into fixed monthly payments for a fee of up to 1.6% per month. They also provide U.S. Bank Spend Management, offering virtual cards, spending controls, and employee card management. New cardholders receive six months of the platform’s paid tier, which unlocks custom transaction rules and expense policies — though continuing that tier costs $79/month or $799/year.

U.S. Bank’s cards face stiff competition. The Business Essentials matches the Wells Fargo Signify Business Cash® Card’s industry-leading unlimited 2% cash back and offers a 150-day window to meet the welcome bonus spending requirement — 60 days longer than most competitors, making it easier to qualify.

U.S. Bank has previously accepted applicants with credit scores of 670, lower than many issuers. While the spokesperson did not confirm a specific FICO threshold for the new cards, they stated criteria align with existing products.

For the Business Essentials Plus, the value proposition is more nuanced. The card raises the rewards bar versus competitors like the Graphite Business Cash Unlimited Card ($295 annual fee), but it does not offer an annual-fee rebate at a spending threshold, unlike some Capital One and Truist cards. Heavy spenders may find the fee justified; others may struggle to break even.

Break-even annual spend by cash-back rate:

2% | $14,750

2.5% | $11,800

3% | $9,833.33

3.5% | $8,428.57

5% | $5,900

The base Business Essentials card is a standout — unlimited 2% cash back with no annual fee is difficult to beat. Opening a U.S. Bank business checking account to unlock the higher rate may be worthwhile for existing or prospective customers.

These cards are part of U.S. Bank’s broader push to attract small-business clients, which also includes a new business bank account, a free educational hub, and expansion of business bankers into new states.

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About the author

Ryan Lane is an editor on NerdWallet’s small-business team. He joined NerdWallet in 2019 as a student loans writer, serving as an authority on that topic after spending more than a decade at student loan guarantor American Student Assistance. In that role, Ryan co-authored the Student Loan Ranger blog in partnership with U.S. News & World Report, as well as wrote and edited content about education financing and financial literacy for multiple online properties, e-courses and more. Ryan also previously oversaw the production of life science journals as a managing editor for publisher Cell Press. Ryan is located in Rochester, New York.

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