U.S. Bank Business Select Rewards review

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While the 1x points base rewards rate might seem low for a business card, the U.S. Bank Business Select Rewards card offers savvy spenders an opportunity to maximize their rewards by choosing one bonus category to earn 3x the points.

The intro bonus is not the best you’ll find in a business card – 20,000 points after spending $1,000 in eligible purchases within the first 90 days – but combined with a $0 annual fee, no points limit and 0% intro APR for the first nine billing cycles on purchases (13.74%-24.74% variable thereafter), this card is a still great option for business needs.

Average sign-up bonus

The U.S. Bank Business Select Rewards card sign-up bonus is on the lower side for a rewards card, with cards such as the Capital One Spark Miles for Business and Chase Ink Business Preferred Credit Card offering much larger bonuses after meeting minimum spend requirements.

Great intro APR

While the initial 20,000 point bonus might be one of your lower options, you’ll also earn a 0% intro APR for your first nine billing cycles on purchases (13.74%-24.74% variable APR thereafter). If you have large purchases to make for your business that you’ll need to pay off over time, this card allows you to save money in the long run. Plus, this card has no annual fee.

Customizable cash back bonus category

Rather than offer a flat rewards rate or use rotating bonus categories, the U.S. Bank Business Select Rewards card asks its users to choose one bonus category to earn three times the rewards, with no point limits. When you apply, you’ll have the choice between three categories; day-to-day expenses – including purchases like office supplies, utilities and phone services – automotive or travel and entertainment.

This is a great opportunity for smart spenders, especially if you make the majority of your business purchases in one of these three categories. You’ll only earn one point per dollar on all other purchases, but you’ll be able to ramp up your rewards by choosing your bonus category strategically.

Several point redemption options

When you’re ready to redeem the points you’ve earned, the U.S. Bank Business Select Rewards card has a few different options. You can use your points to book travel rewards, including airline tickets, hotels and car rentals through the bank’s reward center. While you can’t transfer your points to use on an outside site, you’ll still be able to find over 150 different airlines within their system.

The U.S. Bank rewards center also includes merchandise, gift cards and an option to redeem your points for a cash value as a statement credit.

Point expiration and restrictions

One big drawback to the U.S. Bank Business Select Rewards card is the fact that your points can expire. You’ll lose any points you haven’t redeemed five years after you earned them, at the end of the quarter. To avoid losing your rewards, you’ll want to redeem your points as regularly as possible. This can make it harder to save up for big purchases, but will get you the most for your money.

Before deciding if this is the card for you, there are a few other point restrictions you should keep in mind. Each type of travel reward (plane ticket, hotel or car rental) has a minimum point requirement for redemption, ranging from 25,000 to 50,000 points. You also don’t have the option to transfer points or combine them with any other card.

If you expect to earn plenty of points using your bonus category, these restrictions probably won’t make too much of a difference. If you don’t project earning enough to redeem big rewards before your points expire, you should check out a card with fewer restrictions.

Perks for business management

In addition to standard rewards, the U.S. Bank Business Select Rewards card offers a few extra perks to help with running your business. You’ll have the option to customize employee cards, including spending limit and time and place restrictions. You’ll also be able to adapt payment due dates.

To help you keep track of your business expenses, you’ll have access to an online reporting tool that can show you exactly where and when you are spending your money. If you run into any issues, there is a customer service representative available 24/7.

Foreign transaction fees

While the U.S. Bank Business Select Rewards card does not charge an annual fee, you will be charged 2 to 3 percent on foreign transactions. If you need to use your business card for travelling abroad, this might not be the best choice for you.

Why get the U.S. Bank Business Select Rewards card?

• You want to maximize your rewards potential with a bonus category of your choice.
• You don’t want to pay an annual fee.
• You expect to earn plenty of points to redeem for big rewards.

How to use the U.S. Bank Business Select Rewards card?

• Select your bonus points category carefully based on where you spend the most money.
• Save up points for larger rewards, but be mindful of their expiration date.
• Utilize spending controls and reporting software to monitor business spending.
• Make purchases that will take longer to pay off during the first nine billing cycles to save on interest.