U.S. Bank is offering a new charge card designed for small businesses.
The U.S. Bank Business Visa Charge Card has no annual or monthly fee and helps small businesses build their credit, manage cash flow and earn rewards, U.S. Bank, a unit of U.S. Bancorp (USB), said Monday. The card is available at U.S. Bank branches and online.
The card has no interest charges or revolving balances because customers pay in full every month. It also includes a minimum 25-day monthly grace period for cardholders to pay their bill and offers up to 1% cash back on purchases. Cardholders also have access to ScoreBoard, an online tool to monitor expenses, track spending patterns and review sales data.
"We undertook extensive research to understand what small business cardholders need in a payments product, and what we heard is that they want more flexibility and control over managing their expenses," Cliff Cook, chief marketing officer for U.S. Bank Retail Payment Solutions, said in a news release. "We developed a payment solution that offers many of the benefits of both debit and credit — all in one card, while also rewarding owners for their purchases."
