The Offer
- Truist is offering a $1,000 bonus after $15,000 in spend within 90 days
Card Details
- $299 annual fee, waived first year
- 2% cash back on all purchases
- Enjoy a 10% Loyalty Cash Bonus when rewards are redeemed into your Truist business deposit account
Our Verdict
Does require a large amount of spend, but at least the card itself earns 2%. If you spent the full $15,000 you’d earn $300 from the spend requirement and then another $1,000 from the bonus itself. Not sure what Truist’s business document requirements are but share your experiences in the comments below. This will be added to the best business credit card bonuses.
Hat tip to reader Bockrr
Can we buy Walmart money orders on order to fulfill the 15,000 purchase amount needed ???
Eligible Purchase(s): refers to purchase Transactions less the following: credit chargebacks, credit losses, delinquency assessments, fees, and charges or other Transactions determined (in Truist’s sole reasonable discretion) to be unauthorized. The following items are also expressly not considered by Truist to be Eligible Purchases: (1) Cash Advances (via ATM or by any other means), (2) Quasi-Cash or Cash-Equivalent items (e.g., wire transfers, cryptocurrency, peer-to-peer payment platform transfers, travelers’ checks, money orders, foreign currency, lottery tickets, or gambling chips or wagers), (3) Convenience Checks, (4) Stored Value Cards (e.g., gift cards, prepaid cards, etc.), and (5) the purchase of Rewards incentives.
Thanks for the reply !!!
Three $5000 six-month CDs. BOOM!
Which bank are you using to do that?
I don’t understand? Do you mean to purchase CDs from credit card?
You cant buy CDS with a credit card.
Right I was referring to what the op said:
Three $5000 six-month CDs. BOOM!
You CAN fund CDs with CCs at some banks/CUs lol.
You can at some CUs, but they usually have much lower limits
Yes, fixed/
Wondering if it would easier to get approved if one already has a Truist business checking account…
Why would anyone pay $299 annual fee every year for this card? They need hire better product managers at Truist 🙂
Just spend 100k to waive the fee no problem 😎
First year is free. But after yr one , nobody will keep it. Unless there are some decent benefits.
Used correctly, the fee is for this card is only annual for 1 year and the first one is waived.
Any respectable churner is going to call on day 366 and either ask for another year’s waiver or close it and ask for a refund. Worst case, you pay $299 once.
Then it’s $1k + 2.2% -$299
= 6.87% ROS on $15k.
You did not read the offer. The first year Annual Fee is FREE!!!
You did not read the comment. The SECOND year Annual Fee is NOT FREE!!!
Yes… but why would anyone pay the second year annual fee.. Thus it shouldn’t be in the ROS calculation..
I never said it should. That’s not the issue robertw raised.
However, it is bad practice to close CCs before a year anyways, unless you don’t want to churn them again in the future.
The operative phrase in that ROS calculation was “Worst case…” IOW, this is still profitable if something goes wrong.
I think it’s a good idea to game out the reasonable worst case, but I leave out long tail risks like asteroid strikes.
Projected ROS: 8.87%
Worst case ROS: 6.87%
Obviously no one would intentionally pay the second year fee. It’s very unlikely anyone closing the card on day 366 will have to pay it.
I based it on 366 days because there are good reasons to leave biz cards open for a full year. You’re incurring a very small risk of paying the AF to keep your cash cow happy.
Is this a new card launch?
Looks like you gotta go in-branch to apply, though.
You can schedule virtual appointments for biz accounts.
Any DPs on whether tax payments count as “eligible purchases”?
Attempting to answer my own question, here is the related “fine print”. Expressly excludes gift cards and “cash equivalent” payments, but I don’t think this precludes paying taxes (either property taxes or pre-paying income taxes).
Eligible Purchase(s): refers to purchase Transactions less the following: credit chargebacks, credit losses, delinquency assessments, fees, and charges or other Transactions determined (in Truist’s sole reasonable discretion) to be unauthorized. The following items are also expressly not considered by Truist to be Eligible Purchases: (1) Cash Advances (via ATM or by any other means), (2) Quasi-Cash or Cash-Equivalent items (e.g., wire transfers, cryptocurrency, peer-to-peer payment platform transfers, travelers’ checks, money orders, foreign currency, lottery tickets, or gambling chips or wagers), (3) Convenience Checks, (4) Stored Value Cards (e.g., gift cards, prepaid cards, etc.), and (5) the purchase of Rewards incentives.
A lot of banks say that, but does Truist actually enforce it? Is there a history of them combing through your Staples or supermarket purchases to see what you bought? Of course if you buy at giftcards.com, that’s pretty easy to spot.
The personal cards have the same “Eligible Purchases” terms for rewards, and I earned a both the SUB and rewards on my Enjoy Travel card from USB biz account funding last year.
This biz card applies that language to both the SUB and rewards terms, but it’s likely that anything that earns rewards would also count towards the SUB.
Is it possible to apply OOS in branch?
When they were SunTrust their biz cards reported to personal credit. Idk if that is still true
Boo
Suntrust is only hafl, isnt it? Wasn’t it a merger of 2? So who knows what half prevailed (assuming what I remember is correct)