First National Bank Absolute Rewards: 5x Points On Huge Range Of Categories

Reddit user batsy71 came across the First National Bank Absolute Rewards credit card and I think it’s worth a quick look at minimum.

fnbo

The Basics

  • No annual fee
  • No sign up bonus
  • Card earns 5x, then 1x (up to $25,000 in spend during a period of 12 billing cycles) on qualifying business expenses:
    • Telecommunication Equipment and Telephone Sales” (MCC 4812)
    • “Telecommunication services” (MCC 4814)
    • “Computer Network/Information Services” (MCC 4816)
    • “Cable and other pay television” (MCC 4899)
    • “Electric, Gas, Sanitary and Water Utilities” (MCC 4900)
    • “Photographic, Photocopy, Microfilm Equipment and Supplies” (MCC 5044)
    • “Computer and Computer Peripheral Equipment and Software” (MCC 5045)
    • “Commercial Equipment (Not Elsewhere Classified)” (MCC 5046)
    • “Office and Commercial Furniture” (MCC 5021)
    • “Stationery, Office Supplies, Printing, and Writing Paper” (MCC 5111)
    • “Stationery Stores, Office and School Supply Stores” (MCC 5943)
    • “Advertising Services” (MCC 7311)
    • “Computer Maintenance and Repair Services, Not Elsewhere Classified” (MCC 7379)
    • “Management, Consulting, and Public Relations Services” (MCC 7392)
  • Card earns 2x on gas and dining transactions up to $25,000 (then 1x)
  • Card earns 1x on all other purchases
  • Cell Phone Insurance: Up to $600 per claim/$1,000 per 12 months. $50 deductible.
  • 0% Introductory APR on purchases and balance transfers for first 6 billing cycles

How Much Are Points Worth?

Points can be redeemed for the following:

  • Merchandise
  • Gift cards/certificates
  • Travel (Airline, Hotel and Car Rental)
  • Cash back as a statement credit to the Account
  • Other goods and services

Thanks to reader Jeff H for letting us know the rates you can redeem at:

  • $100 cash = 13,000 (0.769¢ per point)
  • $25 cash = 3,800 points(0.657¢ per point)

Our Verdict

This looks to be similar to the Chase Ink Plus & American Express Simplycash Plus, but without a sign up bonus and with more 5% categories. The downside is that the points are not worth as much.  Some people might be interested to increase their spending capacity at office supply stores, just keep in mind that FNBO is usually inquiry sensitive so getting approved can be an issue.

We will add this to our list of the best cards for office supply purchases, there are other cards that earn at a much higher rate on gas & dining purchases.

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48 Comments
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Vidyasagar
Vidyasagar (@guest_795194)
August 7, 2019 18:29

Seems like this is discontinued, cannot find it on their website

esha_w
esha_w (@guest_639780)
September 7, 2018 01:26

has anyone tried using this card for hoa/home insurance/plastiq?

do those qualify as the 4% business expenses?

Harry Nguyen
Harry Nguyen (@guest_482328)
September 24, 2017 23:09

Should I apply for this biz credit card or the amex simply cash plus? Thanks.

XP1
XP1 (@guest_393386)
April 21, 2017 14:37

Need to spend $2600 on 5x to earn 13,000 points. Cash out 13,000 points into $100 with a 3.84615384615385% cashback rate.

Miz
Miz (@guest_422440)
June 17, 2017 17:45

Is there a gift card or another form of redemption option that comes with more value than 3.84615384615385% cashback rate?

XP1
XP1 (@guest_422526)
June 17, 2017 22:52

Statement credit:
$250 = 32,500 points
$100 = 13,000 points
$50 = 6,500 points
$25 = 3,800 points

There are 67 gift card brands as of 2017-06-17. For a full list of brands, see here: https://pastebin.com/EHTmajZF

Amazon.com:
$250 = 31,300 points
$100 = 12,500 points
$50 = 6,300 points
$25 = 3,200 points
$10 = 2,000 points

Visa, Mastercard, American Express:
$250 = 33,000 points
$100 = 13,500 points
$50 = 7,200 points
$25 = 4,200 points

XP1
XP1 (@guest_422545)
June 17, 2017 23:40

minimumSpend = redemptionPoints / earnRate
cashbackRate = redemptionValue * 100 / minimumSpend

minimumSpend = 13,000 points / 5x = $2,600
cashbackRate = $100 * 100 / $2,600 = 3.846153846153846%

function calculateCashbackRate(option) {
const {redemptionValue, redemptionPoints, earnRate} = option;
const minimumSpend = (redemptionPoints / earnRate);
const cashbackRate = (redemptionValue * 100 / minimumSpend)
return cashbackRate;
}

> calculateCashbackRate({redemptionValue: 100, redemptionPoints: 13000, earnRate: 5});
3.8461538461538463

> calculateCashbackRate({redemptionValue: 100, redemptionPoints: 12500, earnRate: 5});
4

Jeff H
Jeff H (@guest_327792)
December 16, 2016 02:51

Here is another possible reward. I am not sure of it’s true value.

LOUNGE CLUB 12 Month Membership – 2 Visits
11,700 Points

Savvy travelers know that airport lounges are the best way to avoid crowded airport departure terminals and enjoy a more peaceful environment in which to wait for your flight.
Instead of spending an hour or more sitting in a plastic seat, an airport lounge allows you to enjoy a wide range of refreshments and either relax in comfort or catch up on work.

Your membership is valid for one (1) year from the date of redemption and it includes two (2) complimentary member visits. All additional member visits and all guest visits will be charged to the credit card on file at the prevailing rate; currently $27 per person, per visit.

Upon redemption you will receive an activation code. Use this code to enroll at http://www.loungeclub.com/redeem. After enrolling, you will receive your membership card, which you can use to access all participating lounges, together with any accompanying guests. A credit card will be required when completing the enrollment process to cover any visits beyond your first two visits or for any guests visits. No payment is made now when you enroll.

For a full list of participating lounges please visit http://www.loungeclub.com.

Jeff Hix
Jeff Hix (@guest_326463)
December 12, 2016 23:38

Paper bill had a bit more rewards info.. not enough. No break down what was only regular points.
Total Bill = $4165.46

Regular Points = 60
Business Expense points = 20592

Used 19500 points = $150.00 statement credit

Jeff H
Jeff H (@guest_324868)
December 8, 2016 18:36

I received the new card holder Welcome packet almost a month after getting the card. . It seems there is more to this than I first realized – see link
Not shown in the link is Cellular Wireless Telephone protection up to $600.00 per claim/$1000.00
annual cap /$50.00 deductible.

https://usa.visa.com/support/small-business/card-benefits.html#2

For those that travel in the USA, check out Park Wiz app promoted with this Visa
Fat Wallet has list of cities where this may be of help

https://www.fatwallet.com/forums/travel-discussion/1545040

Jeff H
Jeff H (@guest_324896)
December 8, 2016 19:26

You have two emails about benefits of this card
First National Bank Absolute Rewards

Jeff H
Jeff H (@guest_324814)
December 8, 2016 16:51

Additional benefit Visa Savings Edge program offered by Visa.. Preregistration required. Purchases at certain merchants generates automatic discounts paid as statement credit in addition to any coupons or other deals available to the general public.

https://www.visasavingsedge.com/e/members/benefits.php?sid=92XXdKrlo92&xgroupby=category

Jeff H
Jeff H (@guest_320499)
November 27, 2016 15:17

Unfortunately, the rewards even at 5 points/$1.00 spent are not 5% Cash Back. It takes 130,000 to be rewarded $100.00. There are some alternatives like gift cards that one may consider. I fail to see the attraction of the alternatives..

Jeff H
Jeff H (@guest_324840)
December 8, 2016 17:47

My typo

13,000 Points = $100.00

cm
cm (@guest_390583)
April 17, 2017 00:29

What are all the available redemption options? They mention that the highest denomination of statement credit is $250, is that at the same 100/130 cpp as your $100 and/or $150, or is it finally at 1 cpp at that point?

Do you still have the card? Can you still confirm it’s still missing from the personal credit report?

Jeff H
Jeff H (@guest_315960)
November 16, 2016 16:33

This is a BUSINESS card and account. It requires a separate internet User ID and cannot be on the same User ID as any personal accounts you have at First National Bank of Omaha (FNBO).

Card arrived in 10 days from approval. It specifically says BUSINESS on the VISA card.

Jeff H
Jeff H (@guest_316131)
November 17, 2016 00:23

Too soon to have a definitive answer. You have email with more detail than fits here.

Jeff H
Jeff H (@guest_336736)
January 10, 2017 15:48

I have had the Business Edition® Visa® Card with Absolute Rewards for two billing cycles. As far as I have seen, this card is NOT on my personal credit bureau reports.

rsha_w
rsha_w (@guest_639781)
September 7, 2018 01:27

have you tried using this card for hoa/home insurance/plastiq?

do those qualify as the 4% business expenses?