schistosomiasis

https://bizcards.usbank.com/credit/b...verage-card.do

Didn't see anything about this card in flyertalk, a few bloggers have mentioned it.
Annual fee of $95 waived first year, get 2X points for top two categories every month (don't have to pick- automatically determined by spend).
One extra point for first $100,000 spend
According to bloggers, every authorized user/ employee gets $100,000 spend
It's been written that points can't be combined with altitude reserve, but what's the redemption value, one point per cent? This would in effect make it a 3% card for large purchases that fall into the right categories (lots of my colleagues buy a ton of equipment when opening office) and might be a reasonable card if you're exhausted all other cards.

mia

In other words, the new account bonus is a maximum of 100,000 points for $100,000 spend in 12 months.

Appears to be a large number of categories, listed here:

https://bizcards.usbank.com/credit/c...s&lang=en&exp=


...but of course you can get 1.5 to 2 points per dollar on all spending elsewhere.

schistosomiasis

Yes I agree, and the extra point for first 100K is combined with 2 points for total of three points on certain categories. I agree the average flyer talker wouldn't be interested in this card, but I have colleagues that run their businesses that spend $25,000 and upwards on pharmaceuticals and medical supplies. No bonus category for that with Chase or Amex. Some of these folks max out the AMEX Hilton $15k spend for free night, AMEX business blue $50K limit, $110 for chase southwest companion pass, and still have more spending. They already have a truckload of Chase/ AMEX points that they will have trouble using (like a million each, and go on vacation once or twice a year). No need to use the AMEX plat biz to get 1.5 points/ dollar on over $5000 purchases when you have more AMEX points you will ever use. (Note: I don't fall into this category myself but definitely know folks that do).

For these folks, if you are charging $300,000 on the US Bank leverage (two employee cards each with $100k limit) and get 3% back, that's a extra $3000 per year vs a 2% card.

Am I missing something? I'm still not exactly clear if leverage points are worth one cent each, or more if redeemed for travel; I do know they can't be combined with altitude reserve points.

yugi

How do you know that the points can't be combined with AR? Some interesting categories include Dental, lab, and medical equipment providers , Discount stores and wholesale clubs , Funeral homes and crematories , Healthcare providers , Insurance providers, Membership organizations , Personal service providers , Plumbing and HVAC suppliers , Professional service providers , Schools and government , which are usually not covered elsewhere. But if it's only 3% for the first year, and then 2% thereafter, then it's not interesting. If it's 4.5% first year, then it becomes interesting for the first year only.

farnorthtrader

Got a targeted offer for 100,000 points for spending $10,000 in the first 4 months. That's makes this much more interesting
Does anybody know if the points can be used for more value than straight cash back?

flyguy6

Did you end up applying for a US bank business card and can share a DP? I was eyeing this card for the big SUB. I found a few mixed reviews about it but not a lot of info this like the other bigger bank cards.

https://www.doctorofcredit.com/us-ba...th-7500-spend/

farnorthtrader

No, never did apply for it, sorry, can't help

schistosomiasis

A few months ago I was targeted for 100,000 points for $10,000 spend, with $5000 fee free Plastiq dollars. This made an awesome deal- I could pay one months' office rent, get 2% back without any fees, and was almost halfway to a $1000 bonus. No annual fee the first year to boot. The current public offer is $750 for $7500 spend which is still really good. IMO $750 in cold hard cash with no hoops to jump through is a extremely solid welcome bonus.

Unfortunately, you can't combine points with Altitude reserve for 1.5 cents back nor transfer to airlines.

FrequentFlyer9000

Hey guys - any reason to keep this card after first year? Any downgrade options? Or does this go into the cancel pile? Thanks.

schistosomiasis

When I phoned in to cancel the Leverage, they waived the annual fee. I also got the US Bank business cash rewards card for $500 back. I’m hoping to do a slow churn of these cards in a year or two. (Does anyone have data points on getting the same US Bank cards?) Super easy to accumulate and redeem the points.

happychic

Any recent datapoint on how sensitive US Bank is to inquiries and new credit lines?

invisible

Who has applied and got US Bank's Leverage Visa business credit card? Could you describe your experience? Did you have a business checking account opened before applying to the card?

I already have personal checking, MM and Altitude Credit card with US Bank. Would my >2 years experience with them as a customer be sufficient to open the above business credit card?

Thanks

Drwaz99

I didn't get the Leverage but rather the Triple Cash but I'm going to assume it's similar. Here are my DPs:

Applied on Monday, 12/6, in the evening and it went pending as expected. Called in Friday afternoon 12/10 and was approved. Email came in overnight into Saturday.

9k limit
Pulled TU (F8 787; 2 INQ; 7% UTL)
5/24
3/12 with my last approval at the end of August.
Long time US Bank customer (I've had personal checking with them since the late 90s and an Altitude Reserve card since Jan '21). No business checking with them.
24k revenue (Sole Prop) and 78k personal income.
No documents required, just some patience as they seemed to be busy with lots of manual reviews (US Bank loves the manual reviews).
Assuming your personal credit file and score is sufficient, I don't see why you wouldn't be approved.

flew-d-coop

Did they ask you a bunch of business related question on recon?

Thoughts on my success rate, I am at 1/6, 3/12, 4/24 with 3 month old US bank business checking but will apply as “biz” sole prop. FICO 800+, 1% UTL, with no EIN/doc

Another Question, being as my biz in new, do they take zero annual revenue or would they want an estimated income (i've read old post saying min 2K)?

GundamWing01

curious if u had applied a few months back and ur experiences. any docs required? interrogation? based on recent doc DPs for USB biz cards, pretty smooth process.
https://www.doctorofcredit.com/u-s-b...no-annual-fee/