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

overall rating
3.5

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The U.S. Bank Business Cash Rewards World Elite Mastercard has no annual fee and offers a decent bonus along with 3% cash back on purchases at gas stations and office-supply stores and on cell-phone service and equipment. There's a $500 bonus and a 25% annual bonus, up to $250, on your cash rewards for the prior year.

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

overall rating
3.5
U.S. Bank Business Cash Rewards World Elite™ Mastercard®
On U.S. Bank's Secured Site.

Current Offer:

Earn $500 cash back after you spend $4,500 in eligible net purchases on the Authorized Owner's card in the first 150 days of opening your account.

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 (%) 11.99% - 22.99% variable
Annual Fee $0
Rewards Earning Rate Earn up to 3% cash back on eligible gas station, office supply store and cell phone/service provider net purchases. Plus earn a 25% annual bonus based on your prior year's cash rewards, up to $250.
INTRO PURCHASE APR 0% for 9 Billing Cycles
Balance Transfer Fee Either $5 or 3% of the amount of each transfer, whichever is greater.
Cash Advance APR (%) 23.99%
Cash Advance Fee Either $10 or 5% of the amount of each cash advance, whichever is greater.
how this card stacks up
When compared among all business cards in our database:
Rewards
Benefits
Low Fees
Security/Customer Experience
Low Interest
worst best

The U.S. Bank Business Cash Rewards World Elite™ MasterCard® is not one of our top-rated business credit cards. You can review our list of the best business credit cards for what we think are better options.

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

Pros
  • Strong rewards, including 25% annual bonus

  • Introductory 0% APR on purchases for the first nine billing cycles

  • Bonus with low spending requirement

Cons
  • U.S. Bank’s card service to businesses is below par

  • Fees on foreign transactions

Pros Explained

  • Strong Rewards, Including 25% Annual Bonus: The best rate offered by the U.S. Bank Business Cash Rewards World Elite Mastercard is its 3% cash back on purchases at gas stations and office-supply stores, and for cell phone service and equipment. Few other cards beat that rate on all three of those categories, especially when this card’s annual rewards bonus is added to its total earnings. You earn an annual bonus of 25% of your prior year’s total cash-back rewards, earned at both the 3% and 1% levels. The bonus is capped at $250, but you could spend up to about $700 a month on purchases that earned 3% cash-back without hitting the rewards limit. Unless you spend more than that on gas, office supplies, and cell phones and service, the bonus essentially raises your earnings to a hefty 3.75%. By contrast, some other cards match, sometimes fully, the rewards earned in the first year as an introductory bonus. But the U.S. Bank Business Cash Rewards World Elite Mastercard does so in an ongoing way, which could be more lucrative in the long run, even if the match is only a partial one.   
  • Introductory 0% APR on Purchases for the First Nine Billing Cycles: The introductory 0% APR could be longer and broader, but keep in mind that many business cards lack any such offer. Where some offers run for a full year and also cover balance transfers, this deal runs for the first 9 billing cycles and applies only to purchases. Still, it offers a welcome break if your business could use some breathing room for the best part of a year to buy new supplies or make other purchases without running up interest payments (You’ll still have to make the minimum payment due each month, however.). 
  • Bonus Has a Low Spending Requirement: You can earn a $500 cash back bonus for spending $4,500 in purchases within the first 150 days on the account owner’s card. This introductory bonus may not be easier to obtain than those of many other cards, which often require spending $3,000 or more to earn bonuses that aren’t much, if any, higher than $200.

Cons Explained

  • U.S. Bank’s Card Service to Businesses Is Below Par: Businesses don’t necessarily interact with their credit card issuer very often. But when that’s necessary, it’s often a matter of some urgency and even stress, and you want a satisfying experience. Unfortunately, that’s less likely to be the case for businesses who deal with U.S. Bank than with most other card issuers scored in the J.D. Power Small-Business Credit Card Customer Satisfaction Study. In its 2019 survey, U.S. Bank ranks in the lowest group, in a virtual tie with Chase as the least-satisfying issuer of business credit cards among nine that are scored. U.S. Bank’s score of 831 out of 1,000 was 16 points below the national average. 
  • Fees on Foreign Transactions: For a card with a name that includes the word "world," it's ironic that the U.S. Bank Business Cash Rewards World Elite Mastercard isn’t a very good choice for foreign transactions. Admittedly, the fee it imposes on purchases to vendors abroad is lower for those made in U.S. dollars than in local currency—2% versus 3%. Still, many other business credit cards waive these fees entirely, including the Capital One Spark Miles for Business card.

This Card is Best For

  • Avatar for Cash Back Strategist Persona
    Seeks to maximize cash back earnings across spending categories
    Cash Back Strategist
  • Avatar for Business Owner Persona
    Earning a primary or side income from a small business
    Business Owner
  • Avatar for Driver/Commuter Persona
    Incurs gasoline or other commuting expenses each month
    Driver/Commuter

This credit card could be a good fit for current U.S. Bank customers that want to keep all of their accounts with U.S. Bank and make significant purchases in the gas station, office supply store and cell phone/service provider purchase categories. While the cash back rates aren’t stellar, the simplicity of keeping all of your accounts with one institution may be worth the sacrifice in cash back earning rates. Additionally, it’s a good fit for businesses that want to earn cash back but aren’t willing to pay an annual fee for the primary or additional employee cards. 

U.S. Bank Business Cash Rewards World Elite Mastercard's Bonus

You can earn a $500 cash back bonus if you make at least $4,500 in purchases within the first 150 days with the account owner's card. The account owner’s card is defined as the card assigned to the initial applicant of the account and does not include spending on cards used by authorized employees. 

It may take eight to 10 weeks after you meet the spending requirement for the cash back to be credited to your account. Existing and previous U.S. Bank Business Cash Reward accounts don’t qualify for the cash bonus, nor do account upgrades.

Rewards Earning Details

The U.S. Bank Business Cash Rewards World Elite Mastercard offers 3% cash back on gas station, office supply store and cell phone/service provider purchases. It also offers 1% cash back on all other purchases. As long as your account remains open, current and in good standing, you’ll also earn a 25% bonus of your prior year’s rewards, up to a maximum of $250.

Gas-station purchases do not include purchases of gasoline at warehouse clubs, superstores, supermarkets or convenience stores. Additionally, fuel purchases of greater than $200 are also ineligible, and will only earn a reward of 1%.

There are no limitations to how much cash back rewards you can earn and rewards don’t technically expire. That said, you forfeit the rewards remaining on your account if it is closed for any reason, inactive for 18 consecutive months, or if you don’t make the minimum payment due by the due date for two consecutive billing periods.

Rewards Redemption Details

Many cards continuously deposit the cash-back you earn into the card’s account or a bank account. By contrast, you must earn at least $25 in cash back on the U.S. Bank Business Cash Rewards World Elite Mastercard before you can cash out those rewards. So, moving ahead, you can only redeem further cash back in increments of $25. This is more an annoyance than a major drawback, but it could slightly delay and complicate getting access to the rewards you’ve earned. 

You can redeem your cash back rewards in the form of a deposit to a U.S. Bank savings, checking or money market account, a U.S. Bank Rewards card or a statement credit to your account. In order to redeem your rewards, your account must be open and in good standing.

How to Maximize Your Rewards

Making the most of the U.S. Bank Business Cash Rewards World Elite Mastercard starts with ensuring you earn a $500 cash bonus. That task is fairly easily accomplished, since it involves spending only an average of $900 a month for the first five months after you open the card account. Then be sure to use the card for purchases in its bonus categories, which includes gas bought at gas stations and buying at office-supply stores. You earn that rate on your business spending on cell phones and service to them. Assuming you use automatic payments for your monthly cell-phone bill, be sure to switch the card to this one in order to enjoy the higher bonus rate on it. And if you buy a new phone from anyone other than your carrier, investigate whether the seller classifies itself as a “cellular” merchant with U.S. Bank, as it must in order for you to receive the higher cash back rate when buying phone equipment.  

U.S. Bank Business Cash Rewards World Elite Mastercard's Outstanding Benefits

  • Cell phone protection
  • ID theft protection

Standard Benefits

  • Free employee cards
  • Zero liability protection
  • Global travel assistance

Cardholder Experience

U.S. Bank ranked last of nine card issuers with a score of 831 on J.D. Power’s 2019 U.S. Small Business Credit Card Study. The bank’s score was 18 points below the industry average of 849, and only a few points above Chase, which also ranked below average. 

As a U.S. Bank customer enrolled in online banking, you can receive free access to your TransUnion credit score once per month through the CreditView dashboard. You can speak to a U.S. Bank customer service representative at any time by calling 844-357-2015.

Security Features

This card's security features are standard for the industry.

Fees to Watch Out For

This card charges a 2% or 3% foreign-transaction fee, depending on whether the transaction is in U.S. dollars or foreign currency. 

Our Verdict

The U.S. Bank Business Cash Rewards World Elite Mastercard offers not only a bonus (of $500 for spending $4,500 on purchases in the first 150 days with the account) but a 25% annual bonus (of up to $250) on cash rewards that are decent, at least for the card’s bonus categories. 

That said, other cards may offer higher cash back earning rates, especially on all other purchases, which could make it worth considering alternative choices from other banks. And keep in mind that U.S. Bank has a mediocre track record in service to business-card holders, according to a recent J.D. Power survey.

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For U.S. Bank Business Cash Rewards World Elite™ Mastercard®
on U.S. Bank's Secured Site.
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CURRENT CARD
U.S. Bank Business Cash Rewards World Elite™ Mastercard®
overall rating
3.5
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 (%) 11.99% - 22.99% variable
Annual Fee $0
Rewards Earning Rate Earn up to 3% cash back on eligible gas station, office supply store and cell phone/service provider net purchases. Plus earn a 25% annual bonus based on your prior year's cash rewards, up to $250.
Investopedia Credit Card Rating Methodology
Investopedia is committed to delivering the best credit card recommendations in the industry. We’ll tell you when a card is good, we’ll tell you when a card is bad, and we’ll only call a card the best if we would recommend it to our friends or family members.
Overall Star Rating Explained
To rate credit cards we objectively assess, score and weight nearly 100 individual card features which roll up into five major feature sets: fees, interest, rewards, benefits and security/customer service. Here’s how we weighted those feature sets for the overall star rating of a card:
We have applied our proprietary rating methodology to every generally-accepted credit card in the U.S. domestic market to allow consumers to make fully informed choices. It’s important to note that for our overall score that we make a number of assumptions about how you would be using your credit card:
  1. While we make no assumption as to whether balances are carried on a given card we do assign varying weights to all credit cards’ introductory APR (if present) in addition to the regular, long term purchase and balance transfer interest rates.
  2. We utilize BLS (U.S. Bureau of Labor Statistics) income and average category spending data to calculate annual earnings rates for rewards cards that offer cash back, points or miles rewards at a set rate on all spending or in consideration of bonus rewards for certain spending categories, like gasoline, groceries, restaurants or travel.
  3. We determine the maximum points value of rewards cards by dividing the points, cash back or miles required to exchange for the retail price of the most valuable redemption option (for example, in the case of a card that offers a domestic roundtrip airline ticket as a redemption option vs. another redemption option of lesser value that requires the same amount of points or miles to acquire, we would base the rewards value on the airline ticket).
  • Cards that are selected best overall in their respective categories generally feature most if not all of the following attributes:
  • Low or Reasonable Fees Credit card fees come in many forms but the primary ones involve those for annual card membership and balance transfer. There are a myriad of reward and non-reward card options that charge no annual fee but for the many that do assess an annual fee the cost is often justified by their lucrative ongoing rewards and initial signup bonuses. Balance transfer fees are occasionally waived during introductory periods with certain cards, a factor which is heavily and positively weighted in our scoring model for cards offering this benefit. When charged, balance transfer fees range between 3% - 5%, which we grade accordingly. Other standard fees can generally be avoided, such as those for paying late or taking cash advances but we rate those relative to other cards in the market for reference, though with less weight assigned
  • Competitive Interest Many cards offer 0% introductory APR on purchases and balance transfers for varying lengths and then revert to a permanent or regular APR (based on a variable rate tied to the prime rate) that applies to any balances not paid in full. We rate both introductory APR percentage and length (in months) along with the midpoint of the variable regular APR interest rate range.
  • Valuable Rewards Credit card reward programs can be based on cash back, points or travel rewards (which can be generic or travel partner-specific, as with airline and hotel co-brand card programs). For cards that offer rewards we determine the value per dollar spent along with average redemption values and assign more favorable ratings to cards that offer superior consumer value. We also assign value to sign-up bonus offers and their initial spending requirements, when present.
  • Excellent Benefits Credit card benefits cover a range of offerings like concierge service, TSA Pre-check, auto rental coverage, travel accident insurance, lost luggage assistance and free credit scores. We rate cards on the number and level of over a dozen standard and upscale benefits and provide extra weighting emphasis for those travel-related perks that apply to premium travel cards when present.
  • Solid Security/Customer Service Security and customer service features like lost or stolen card replacement, being able to lock one’s card from an issuer app and 24 hour customer support are becoming more standard across the card market and we provide a significant amount of weighting to features in this area.
  • You can also read the full version of our methodology for a more in-depth look at how we assess cards and award them the best in various categories.