Card is now live, full details can be found here.
Update 09/12/18: We now have additional details regarding the card.
- Both the owner and employee cards can earn the enrollment bonus on their individual card spend. This is specifically called out. Normally you can add up to 10 employee cards so that would be a total bonus of 1,100,000 points matched. We discussed this with the business edge card.
- There are leverage categories. Each category has multiple sub categories/merchant category codes. These earn 2x points. For example:
- Construction:
- Materials
- Tools
- Lumber
- Concrete
- Equipment Rentals
- Suppliers/Fasteners
- Construction:
- Points don’t transfer to Flexperks or Altitude. Minimum redemption for statement credit is 5,000
Oiriginal post: According to documents sent in via an anonymous source, U.S. Bank will launch a new business card called ‘U.S. Bank Business Leverage Visa Signature’ on September 24th, 2018. Here’s what we know about the card so far
Card Basics
- Annual fee of $95, waived first year
- Free employee cards
- Points match. U.S. Bank will match up to 100,000 in points you earn in the first year
- Card earning rates:
- Card earns 2x points on your top 2 categories. This automatically adjusts based on how you use your card
- Card earns 1x points on all other purchase
- Points can be redeemed for statement credit, or deposited into a U.S. Bank checking account. Points expire 5 years after earned
- Link card to U.S. Bank payment processing account and earn more rewards. More details here.
Our Verdict
It isn’t clear if there will be any sign up bonus or not. How useful this card is will depend on what the points are worth. They aren’t FlexPerks so won’t be worth up to 1.5¢ towards travel. I assume they will be worth 1¢, if true then the card will be useless after the first year as other cards earn 2%+ cash back on all purchases. If they are worth 1¢ each then in the first year you’re effectively earning up to 4% back on two categories on up to $50,000 in spend. I can easily see some people taking advantage of that, but U.S. Bank is typically not tolerated of manufactured spending so that’s something to keep in mind. It’s also obviously possible we see a sign up bonus added, but I doubt it with the matching offer. It’s also possible the points are worth more than 1¢ each but I doubt it.
Big thanks to the reader who sent this inside information in. As always if you have something to share, you can find our e-mail addresses here.
I can’t answer *how* to get targeted, but my employer received a mailer for this — SUB is 100,000 points after $10k/4mo. I’ve tried fuzzing the confirmation code and zip, but it seems like both are required in order to proceed, and it loads the business’s information, so I’m hesitant to post those.
I personally wouldn’t call a number I got off the internet and give them all my personal information, but the phone number to apply is 888.268.3128 if they’ll offer it that way.
This likely doesn’t really help anyone, but I’m posting it anyways in case someone later is interested in historical SUB offers.
For what it’s worth, there seems to be a minimum sales/revenue for a business to get this card. Application went to pending, and the lending department called. $7500 is not enough to get approved for this card. For what it’s worth though, she said this is the only one of their business cards to have a minimum like this.
Card is now live. But no signup bonus. Just extra point for upto $100k spend in the first year.
Hmmm. What a coincidence. My “new business” just started, and I plan on buying $1 million/year in VGC for “inventory”.
So, I get 4% on that for the first year? 😀
i’m confused. what’s the sign up bonus?
“Both the owner and employee cards can earn the enrollment bonus on their individual card spend… that would be a total bonus of 1,100,000 points…”
“It isn’t clear if there will be any sign up bonus or not. How useful this card is will depend on what the points are worth.”
Bonus should be 100k points, it’s a bit confusing at the moment so I’ve updated the post.
That’s 1000 dollars. Such a high bonus for every employee??
It seems like it requires 50k in spend per employee.
2% unbonused and 4% bonused organic business spend is not bad – what is better? I don’t want to use a personal card for business spend if I can help it.
4% for $95 or 2xMR with BBP for $0?
4% on grocery up to 50k…hmm…I am mildly interested in this.
Until you remember how much they tolerated MSing on the Altitude Reserve.
Pass.
+1
very unlikely they will have grocery as one of the categories on a business product
True, but surprisingly Huntington does on their biz Voice card. 4% CB up to $7k/quarter.