Should U.S. Bank's New Business Essentials Cards Be in Your Wallet?
U.S. Bank added two Business Essentials Visa cards to its small-business lineup. Here's how to judge whether either one fits your company's spending.
Short answer: Maybe. Whether either card makes sense depends on how your business spends, whether you carry a balance, and how the card's specific terms compare with what you already have. A new card isn't automatically better than an existing one. Read the current terms before deciding.
What U.S. Bank launched
On Sept. 28, U.S. Bank introduced two small-business credit cards:
- U.S. Bank Business Essentials Visa Card
- U.S. Bank Business Essentials Visa Signature Plus Card
The names suggest a basic version and a higher-tier Visa Signature version. Rewards, intro offers, fees and APRs can change, so check U.S. Bank's official card pages for the current terms. NerdWallet's launch coverage also compares the two cards.
Before you compare: Look at 3 to 6 months of business statements. Note your largest spending categories and whether you paid the full balance each month. Those two facts matter more than any marketing headline.
How to evaluate a new business card
1. Match rewards to real spending
A card that pays extra on categories your business rarely uses won't earn much. Flat-rate rewards tend to suit businesses with spread-out expenses. Bonus categories tend to suit businesses that spend heavily in a few areas.
2. Weigh fees against value
If a card charges an annual fee, estimate whether the extra rewards or perks would cover it based on your actual spending.
3. Check the APR if you might carry a balance
Interest charges can quickly outweigh rewards. An introductory 0% period, if one is offered, helps only if you have a realistic plan to pay off the balance before it ends.
4. Review business-specific features
Employee cards, spending controls, accounting integrations and expense reports can matter as much as rewards for some businesses.
5. Understand liability and credit reporting
Many small-business cards require a personal guarantee. Some issuers report activity to personal credit bureaus. Read the cardholder agreement before you apply.
Example: Running the numbers
The figures below are hypothetical and are not the actual terms of either U.S. Bank card.
Say a business spends $4,000 a month, or $48,000 a year, and pays in full every month.
- Card A: 1.5% flat rewards with no annual fee = $720 a year
- Card B: 2% flat rewards with a $95 annual fee = $960 − $95 = $865 a year
Here, Card B comes out about $145 ahead. Now suppose the business carries an average $5,000 balance at 20% APR. That costs roughly $1,000 a year in interest, which erases the rewards from either card. For businesses that carry balances, the APR often matters more than the rewards rate.
Alternatives and next steps
- Compare with your current card. Switching only makes sense if the new card clearly improves on what you already have.
- Shop other issuers. Many banks offer flat-rate, category-bonus and 0% intro business cards.
- Consider a charge card or business line of credit if your main need is cash flow rather than rewards.
- Check your bank relationship. Some issuers offer extras to existing business banking customers. Confirm whether that applies.
Bottom line
U.S. Bank's Business Essentials cards give small businesses two more options. Neither is "essential" by default. Judge them the same way you'd judge any business card: by real spending, total fees, interest risk and the features your team will actually use.
FAQ
Do I need an established business to apply?
Requirements vary by issuer. Many business cards accept sole proprietors and newer businesses, often based partly on personal credit. Check U.S. Bank's application criteria.
Will applying affect my personal credit?
Business card applications often involve a personal credit check. Ask the issuer how it handles credit inquiries and reporting.
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