Cash back rewards are earned under the U.S. Bank Business Essentials™ Visa® Card program. These rewards are earned as “Points” and you will earn 2 Points for every $1 spent in eligible Net Purchases (Purchases minus credits and returns).
You will earn 2.5 Points (2 base and 0.5 additional Point) for every $1 in eligible Net Purchases spent when you qualify for the Business Essentials Earning Bonus except as described below. Please allow 1-2 statement billing cycles for Points to be credited to your account.
Business Essentials Earn Bonus qualifications:
- Have an existing checking account, or open a new checking account with a minimum opening deposit of $25, in one of the following “Qualifying Business Checking Accounts”:
- U.S. Bank Business Essentials®
- U.S. Bank Gold Business Checking
- Gold Business Checking with Interest
- U.S. Bank Platinum Business Checking
- Have a “Qualifying Balance” of $10,000 or more with U.S. Bank in a Qualifying Business Checking Account. Deposits in other U.S. Bank accounts do not qualify towards the Qualifying Balance requirement.
- See Business Pricing Information and Business Essentials Pricing Information for additional pricing details specific to the Qualifying Business Checking Accounts.
Exceptions:
- Business Essentials Earning Bonus applies to a maximum of $10,000 in eligible Net Purchases each Card billing cycle. Eligible Net Purchases over $10,000 during each Card billing cycle will earn the base earn of 2 Points per $1 spent in Net Purchases.
- Not all Purchases are eligible to earn the Business Essentials Earning Bonus: Purchases classified as (1) education/school, (2) gift cards (including discount gift card sites), and (3) tax will earn the base of 2 points per $1 spent in Net Purchases and may not earn additional Points for the Business Essentials Earning Bonus. These Purchases are not calculated as part of the $10,000 cap. Each merchant’s business is identified by a category code established by Visa. A Purchase will not earn additional rewards if the category code applied to a merchant is in a category that is not eligible for additional rewards earning. We do not determine the category codes applied to merchants’ businesses and reserve the right to determine which Purchases qualify for additional rewards.
The Qualifying Balance is determined as follows:
- At the end of each day an average Qualifying Balance is calculated. The balance is based on a 30-day average balance of all Qualifying Business Checking Accounts and is calculated by adding together the end of day ledger balance(s) for every day in the last 30 days and dividing the total by
- 30 calendar days, or
- the number of days since opening a Qualifying Business Checking Account
- The Business Essentials Earning Bonus tier that is applied to your U.S. Bank Business Essentials credit card account is determined based upon the Qualifying Balance (as described above).
If your daily Qualifying Balance qualifies you for a tier upgrade or downgrade, you will be moved to the higher or lower tier (within 5 business days). This means that the bonus tier that will be applied to your account may vary during a Card billing cycle. The Business Essentials Earning Bonus is applied based on the Purchase transaction date using the effective tier value determined as of the date the transaction posts.
The applicable Business Essentials Earning Bonus tier will be determined by reviewing the Qualifying Balance of the Authorized Officer’s Qualifying Business Checking Accounts. Balances of employee Qualifying Business Checking Accounts will not qualify for determining the Business Essentials Earning Bonus.
To redeem as Cash Back in the values noted in this advertisement, Points can be redeemed as a deposit into an eligible U.S. Bank deposit account or statement credit. Other redemptions, such as for gift cards or travel, may be at a reduced redemption rate.
Points will expire if there is no reward, Purchase, or balance activity on your Card account for 12 consecutive statement cycles. If you make a Purchase return or otherwise receive credit on a Purchase transaction, Points will be deducted from your Points balance based on the Business Essentials Earning Bonus tier that applies to your card account when you make the return or receive the credit.