Update 12/27/24: Offer is back (scroll down to see offer)
The Offer
- US Bank is offering 75,000 points, worth $750, after you spend $7,500 within 4 months when you get approved for the business Leverage card.
Card Details
- 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.
- Points don’t transfer to Flexperks or Altitude. Minimum redemption for statement credit is 5,000
Our Verdict
This card launched back in 2018. At the time, the signup bonus was that you get an extra point per dollar for the first year, up to 100,000 points. There was at one point a targeted signup bonus of 100k with $10k spend. In any case, this public $750 signup bonus offer is the best public offer we’ve seen. It’s quite a good deal as you’ll end up getting 11-12% back on your $7,500 spend requirement.
Check out these Things To Know About US Bank before applying. US Bank doesn’t report business credit cards to the personal credit bureaus. One thing to watch out for is that with US Bank cards, the employee/AU cards can not do the spend to meet the minimum spend requirement.
Hat tip to Astheworldchurnd
Has anyone tried to pay tax with this card? Does it earn 2%?
was able to get the annual fee (AF) waived, but not sure if it’s worth holding onto. i’ll probably close
Zero points are posting for purchases made at gas station, and at Target and Walmart.
Anybody else have that issue?
Terms say “You will earn 1 Point for every $1 spent in eligible Net Purchases. You will earn 1 additional Point (2 points total) for every $1 spent in eligible Net Purchases in the top two categories of spend each month excluding gas station, electric vehicle charging station and grocery purchases made at wholesale clubs and discount stores/supercenters such as Target and Walmart.”
It looks like there’s some special treatment for gas, Target and Walmart even with the base points. You may see 1 pt/$ at the end of month though.
Anyone know if you can get any extra value out of the real time rewards? I had this one before and didn’t know they had changed the statement credit cashout option to 75% value. Looks like the only way 75,000 is worth $750 cashback is if you have a checking account to transfer it to.
I wasn’t aware of this change, either, but can confirm as I just checked on my recently completed spend. 84k points would be $630 statement credit, approximately.
It looks like you can transfer full amount to a savings as well as checking, so that’s what I’ll do (to not screw up my churn timetable on their checking account).
Confirmed with CSR that personal savings account can be used to transfer points in lieu of statement credit
How long does it take to convert this card? I put in a request on 4/4 but nothing happend. Then I put in another request on 4/21 and they told me it takes 1-2 billing cycle. Now I’m concerned that I will not get the annual fee back if it takes that long. Anyone has experience on this?
They changed the reward earning for a wholesale clubs to 1x now instead of 2x from Apr 14. U.S. Bank | Business Leverage Credit Card Benefits
Chuck
i cant find this anywhere, but we can we cancel af with no penality and not lose points? can we downgrade?
I tried to downgrade to Triple Cash, but they told me that wasn’t an option on my account (supposedly the options for downgrades are targeted to each person); but they waived the annual fee for me, so I kept the card open (a refund of the fee posted a couple days later). This was in chat on the website. (A couple days before that, I called, and they wouldn’t even waive the fee. So trying again later may give different offers.)
I think if I had closed the card (within 30 days) I would’ve received a refund of the fee. I would guess that you’d lose rewards if you close the card. If you convert to a different card, rewards would probably be converted to the new type (at least, they were when I converted Altitude Connect to Cash+, at 1cpp); or, I think someone said their Leverage points were “cashed out” when they converted to Triple Cash; not sure if that means statement credit.
To avoid loosing points it is best to cash out points. You won’t know before calling to cancel if downgrade is offered to you. Last time I was not offered downgrade and was told annual fee won’t be refunded.
Has anyone churned US Bank Leverage card recently ? Because I noticed under the fine print #3: “…. Existing and previous Business Leverage accounts do not qualify for bonus points for a similar account type…..” I had this card a year ago and was planning to apply back for the same business EIN, but decided not to after seeing this. Please share your experinces
r we so sure this is dead? still shows 75,000 points here. https://www.usbank.com/business-banking/business-credit-cards.html
and when you click “learn more”
“One-time 75,000 bonus points will be awarded if you are approved for a new Leverage Business Rewards Card and eligible Net Purchases totaling $7,500 or more are made to the Account Owner’s card within 120 days from account opening.”
https://www.doctorofcredit.com/best-current-credit-card-sign-bonuses/#comment-2018346
Will someone remind me if bank account funding works on US Bank biz cards? It seems like I remember it coding as purchase if you put through less than the cash advance limit. Can someone confirm?
That’s been my experience: call to raise CA to max (which is 25% of credit limit), fund to just under that 25% amount.
10-4. Have all your bank account funding attempts on US Bank cards posted as purchases?
Yes