As predicted U.S. Bank has launched a new business credit card called ‘leverage’. Let’s take a look at this card in this quick review.
Contents
Card Basics
- Annual fee of $95 waived first year, employee cards are free
- Card earns 2x points per $1 spent made in the top two categories where you spend the most each month, 1x points on all other purchases
- Full list of eligible categories can be found here. Each category has multiple sub categories
- Earn an extra bonus point for every dollar spent in the first 365 days, up to 100,000.
- Points don’t transfer to Flexperks or Altitude. Minimum redemption for statement credit is 5,000
Our Verdict
My understanding is that points are worth 1¢ each and you need to redeem at least 5,000 at a time. It seems like each employee card also gets the 1x bonus point up to 100,000 (and this limit is not shared between cards. Similar to how the cash card and sign up bonuses worth). At best you’re getting 3% back on your top two categories, I guess this might be useful for some hardcore manufactured spenders but for the majority of people the lack of sign up bonus makes this card dead on arrival. I can’t see why anybody would keep this card past the first year given the glut of 2% earning cards with no annual fee in the market. If you’re in the market for a U.S. Bank business card, the cash card with a $200 bonus + bonus on the employee cards is most likely a better option.
