While a lot of focus has recently been placed within the consumer credit card space, the small business credit card space can offer opportunity and value to businesses of all sizes. Whether you’re a business of one or 25, having an extension of credit can come with varying levels of rewards or cash back. Today, we pit two no-annual-fee business cards against each other to see which may offer better value to you and your small business: U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® and Ink Business Cash® Credit Card.
U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard®
U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard®
Earn 3% cash back on eligible purchases at gas stations, office supply stores, cell phone service providers and restaurants. Earn 1% cash back on all other eligible net purchases.
Welcome Bonus
$500
Annual Fee
$0
Credit Score
Excellent/Good
Regular APR
13.99% - 22.99% (Variable)
Ink Business Cash® Credit Card
Ink Business Cash® Credit Card
Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year; Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year; Earn unlimited 1% cash back on all other purchases
Welcome Bonus
Earn $750 bonus cash back
Annual Fee
$0
Credit Score
Good, Excellent
Regular APR
13.24% - 19.24% Variable
U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® Is Best For:
Welcome and Intro Offer With Lower Spending Requirement
U.S. Bank recently introduced a new business card available for application. The U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® seeks to gain market share with a very competitive introductory offer with a $0 annual fee. Earn $500 in cash back. Just spend $4500 on the account owner's card in the first 150 days of opening an account.
On top of that, this card comes with an attractive 0% introductory APR on purchase and balance transfers for 15 billing cycles. After that, a variable APR of 13.99% - 22.99% applies. Be aware that balance transfers are subject to a fee of Either 3% of the amount of each transfer or $5 minimum, whichever is greater.
Certain Cash Back Bonus Categories
The Triple Cash Rewards has a two-tier earning system when swiping the card for purchases, 3% cash back on eligible purchases at gas stations, office supply stores, cell phone service providers and restaurants and 1% cash back on all other eligible net purchases. With a wide range of bonus earning categories, earning higher cash back on purchases you would have made either way is a plus and there are no limits on the total rewards you can earn.
As an illustrative example, if $500 in spending is done monthly in the 3% category and $2,000 in spending on all other purchases, cardholders could expect to earn about $420 in cash back each year. This does not include the welcome offer, which would boost the first-year earnings even further.
Software Credit
Business Triple Cash offers a $100 annual software credit applied towards your eligible recurring software subscription, such as QuickBooks. With 24/7 dedicated service, zero fraud liability and free online tools to track spending, U.S. Bank has made a splash in the no annual fee space for business owners.
Ink Business Cash® Credit Card Is Best For:
Higher Welcome and Intro Offer
The Chase Ink Cash offers a more generous welcome offer of $750 bonus cash back after spending $7,500 on purchases in the first 3 months from account opening. It does have a higher spend requirement in a shorter time frame, but if a large known expense is on the horizon, this could be a more enticing road to take.
The Ink Business Cash also comes with a 0% introductory APR on purchases for 12 months, then a standard APR of 13.24% - 19.24% variable applies. The card does not have an intro balance transfer offer.
Certain Bonus Earning Categories
The Ink Cash offers 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year and 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases. The bonus categories are excellent but are subject to caps per cardholder year.
Earnings are marketed as cash back, but are actually Ultimate Rewards, Chase’s point currency. This is an important distinction to make because flexible redemption options are made available beyond simply cash back. Chase offers the ability to redeem Ultimate Rewards for gift cards, travel and more via the Chase Ultimate Rewards portal. When paired with a premium Ultimate Rewards-earning card, additional point redemption options are possible.
Potential to Transfer Points to Partners
The Ultimate Reward distinction is important to make for an additional reason. If you have a premium Ultimate Rewards-earning credit card, such as Ink Business Preferred® Credit Card, Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, you can gain even more value from your Ultimate Rewards points.
The cards mentioned above allow you to combine your Ultimate Rewards balances and transfer these points to one of many airline and hotel partners. Some popular options include Southwest Airlines, United Airlines and Hyatt. These transfers are made at a 1:1 ratio in increments of 1,000 and are generally available for use in just a few minutes after completing the transfer.
The caveat here is these point transfer cards all carry varying annual fees and this perk is unavailable without one of these premium cards. It is still important to mention that this perk often yields the highest value from your points.
Travel and Retail Benefits
Chase offers account management tools to track expenses and maintain records. Integration of your credit card into bookkeeping software can help simplify the accounting process. This comes in handy as employee cards are available at no additional cost. Purchases made on employee cards earn points for the primary account holder’s account.
Beyond these base benefits, purchase protection and extended warranty protection are available when using your card. Finally, travel-related benefits are offered, such as primary insurance coverage on car rentals when used for business purposes, roadside dispatch and travel/emergency assistance services are all perks provided by Chase.
Consider Both U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® and Ink Business Cash® Credit Card For:
Earnings Maximization
Since neither card carries an annual fee, there is minimal downside to carrying both cards. Having both will allow your purchases to earn more rewards. Leveraging Ink Business Cash for the 5% back at office supply stores, internet providers, cable and phone services until the cap is met plus leveraging the Triple Cash Rewards for your gas station and restaurant purchases would create your highest earning potential.
Consider Neither U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® and Ink Business Cash® Credit Card For:
High Spend Requirement to Earn Welcome Offers
Both of these cards carry relatively high spend requirements to obtain the welcome offers. If you’re a brand new business or simply don’t have many expenses, it may not be in your best interest to get either at this time. The last thing you’ll want to do is carry a balance just to meet the spend requirement or apply for the card and not earn the bonus.
Bottom Line
Both of these no-annual-fee business cards are excellent choices to have at your disposal. The bonus categories cover many common business expenses giving you bonus earnings on spending you would’ve had regardless. With generous welcome offers and 0% APR right out of the gate, you could be poised to hold on to either card for an extended period of time.
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Credit Card Showdown: U.S. Bank Business Triple Cash Rewards World Elite Mastercard Vs. Chase Ink Business Cash - Forbes
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