Small Business News

U.S. Bank to Launch Business Altitude Connect Credit Card

U.S. Bank is set to expand its small business credit card line-up. Recently, the bank announced the impending launch of the new Business Altitude Connect card. Applications for the new product are expected to open next month.

In terms of rewards, Business Altitude Connect cardholders can earn 5x points on hotel and car rentals booked directly in the Rewards Center. Meanwhile, other travel purchases, such as airfare and hotel bookings, will earn 4x points as will gas and EV charging purchases. However, this category is capped at $150,000 in combined spending per year. Then, cardholders can earn 2x on dining (including takeout and restaurant delivery) as well as on cell phone services. All other purchases will earn 1x.

Moving into other card benefits, one interesting aspect of the Business Altitude Connect is the Priority Pass feature. Cardholders will be able to enjoy four complimentary visits to select airport lounges (currently more than 1,300 worldwide) per account year by utilizing a digital Priority Pass membership card. Speaking of travel, the card will not charge any foreign transaction fees. Finally, in another unique benefit, customers will be able to earn a $25 statement credit after every three consecutive monthly taxi or rideshare fares they pay with their card.

Upon its launch, the card will also feature a welcome bonus. New cardholders will be able to earn 60,000 bonus points once they spend $6,000 on the card (specifically the Account Owner’s card) within the first 180 days of account opening.

Note that the Business Altitude Connect will carry a $95 annual fee, although this is waived for the first year. Additionally, employee cards will be free.

This new option joins U.S. Banks’ slate of other small business credit cards. Currently, the bank also offers the Triple Cash Rewards Visa for Business, the Business Leverage Visa, and the Business Platinum card. Of these, the Trip Cash Rewards card is perhaps the most interesting, featuring 3% cashback on such categories as gas, EV charging stations, office supply stores, cell phone service providers, and restaurants. Additionally, Triple Cash customers can earn an annual $100 statement credit for monthly software service purchases, such as FreshBooks or QuickBooks.

Overall, the U.S. Bank Business Altitude Connect looks to be a solid small business credit card with a modest annual fee — albeit one that appeals most to business owners who travel. That’s because, in addition to the 4x and 5x categories being travel-focused, the Priority Pass perk is also something that only those who fly at least a few times a year will be able to benefit from. Unfortunately, those who don’t travel often likely won’t find too much to get excited about with this card, as other business cards already offer 2% or more back on all purchases. In any case, entrepreneurs interested in the U.S. Bank Business Altitude Connect can currently join the waitlist on the card’s site.