Small Business News
Intuit Introduces 2% Cashback Business Credit Card
The company behind products such as QuickBooks, TurboTax, and MailChimp is now launching a new business rewards credit card.
About the Intuit Business Credit Card:
Intuit has debuted its new Intuit Business Credit Card. Not only does this card offer cashback rewards to cardholders but also integrates directly with Intuit products. The card is issued by WebBank.
Starting with the cashback, the Intuit Business Credit Card earns 2% back on all purchases. Plus, cardholders can earn unlimited 5% cashback on Intuit product and service purchases.
Once approved for the card, customers can begin using it immediately via a virtual card that can be added to Apple Pay, Google Pay, etc. Similarly, cardholders can quickly generate employee cards by sending them an invitation. These team member cards also earn cashback from the primary cardholder.
Lastly, the Intuit Business Credit Card also integrates with QuickBooks. Each transaction made with the card will automatically sync with the cardholder’s books. It also allows users to upload purchase receipts from their phone.
With this launch, Intuit is also offering a welcome bonus for the card. Currently, new cardholders can earn an extra $300 cashback after spending at least $3,000 on the card in their first three months.
The Intuit Business Credit Card does not carry an annual fee. However, it does have a foreign transactions fee of 2.7%.
My Thoughts:
With no annual fee and greater integration with QuickBooks, this could easily be a solid business card for Intuit customers. The 2% flat cash back is competitive with other business credit card products (including some that have annual fees), while the 5% back on Intuit purchases is just icing on the cake.
It’s also interesting that Intuit says that applying for the card won’t impact your personal credit. That’s often the case with business credit cards, but it’s notable that Intuit is calling it out as a feature.
Funny enough, news of this Intuit card happens to arrive as Amazon just relaunched its business credit cards with new issuer U.S. Bank. For Prime members, the card earns 5% back on Amazon purchases plus 2% back on purchases in the top three eligible spending categories each statement period. Through that lens, the 2% across the board that the Intuit card offers is better — although I suspect many businesses spend more on Amazon than Intuit, making that 5% category more attractive.
All in all, though, if you’re a QuickBooks user looking for a new business rewards credit card, this new Intuit Business Credit Card may be worth exploring.