(Update: readers note that Bank of America does a similar thing on their business cards.)
A lot of us who signed up for a U.S. Bank business card gets confused about this so I thought it worth a post:
When you sign up for U.S. Bank business cards, the bank opens up two unique accounts for your card. One looks like a regular card account and the other is something called a “Central Bill Account.” That Central account has a separate account number, and feeds from the regular card account; any purchase made on the card account shows up as money owed on both accounts.
I believe the idea might be that the card account details are informational – something for the employee; you won’t ever see the bank say that the card owes anything since really it’s the business who owes the money, not the employee. On the other hand, the Central Bill Account is the business account which actually owes the money.
You’ll even see differing balances on the two accounts since any amount that was billed to you gets removed from the employee card side of things. (The card account only shows the new charges, even when the old charges have not yet been paid off, whereas the Central account shows the full balance, as any other bank would do it.)
The card account will show $0 minimum payment due, even when you have a minimum payment owed. You’ll even get a statement saying that you don’t owe any minimum payment, and if you don’t make the payment you’ll get hit with a late fee since you really do owe a minimum payment. Again, I believe the idea is that ‘you’ as the employee don’t owe anything since the business owes it, and that’s billed to the Central Billing Account of the business.
My advice: Just ignore the main card account and only use the Central Billing Account for everything, including statements. There’s another option to call in and have them remove the Central Billing Account, and then your card should operate normally.
For some reason I got this Central Billing Account only on my Triple Cash business card, not on my Leverage business which I signed up a few months earlier. Reader Shawn tells us that there’s actually an option to select during card signup whether to have this Central Billing feature or not.
When you have multiple U.S. Bank business cards it’s possible to set them up that they all feed into the same Central Billing Account for simpler bill management. For our readership, I’d suggest that most of us will prefer declining the Central Billing option. I must have mistakenly signed up for it when applying for the Triple Cash, but not when applying for the Leverage card (or maybe it wasn’t yet an option then).
In the image below, the top account is my Leverage card which works normally. The bottom two accounts are both the same Triple Cash card with two separate entries in the online login (and, confusingly, differing balances). Again, I just ignore the regular card and use only the Central Billing Account.
Hat tip to reader Gerald and beenthere for reminding me about this.
Source: doctorofcredit.com
Check your emails for the following targeted offer: (subject: Preview your new Apple Card credit limit offer.)
Card earns the following rewards:
Other details:
Initially Apple Card offered no signup bonus at all, then they mellowed and started doing some smaller $50 – $100 bonuses; the highest we’ve seen before was a targeted $200. And so I was surprised to see this offer popped up in my email inbox – at $300 I might go for it. If you’re targeted, keep in mind this will count toward your 5/24 count for future Chase applications.
Source: doctorofcredit.com
Direct Link to offer
This is similar to the offer we saw early 2024, but this time the spend requirement is $20k instead of $30k. It also does not have the higher $100k offer tier. Another option is a similar bonus on the Spark Cash Plus business card.
Remember, Capital One pulls all 3 credit bureaus. Unlike most Capital One business cards, Spark Cash cards do not report the statement balances to the personal bureaus; see these Things to Know About Capital One Credit Cards before applying. We’ll add this to our List of Best Credit Card Signup Bonuses.
Source: doctorofcredit.com
If you’re trying to stick to a budget but still want to build your credit, you’ve likely wondered what you should use your credit card for. While you can use your credit card to pay for just about everything you buy, some purchases are more beneficial to your credit health than others. Here are eight smart purchases you can make with your card.
Key takeaways:
While you can purchase almost anything with your credit card, doing so may not always be in your best interest. Here are a few things you should consider buying with your credit card.
If you have a cash back rewards card that earns a flat rate on most purchases, using that card to buy things like groceries, meals away from home, and other daily expenses may be a good choice. You’ll earn cash back on each purchase you make.
Other credit card issuers offer additional cash back rewards on certain types of purchases. The rewards categories can stay the same each month or change depending on your card but often include purchases like gas, groceries, and certain online retailers. By making purchases that fall under your rewards card’s categories, you’ll increase the amount of cash you earn.
Maximizing your cash back rewards will help you earn money that you can use to pay down your balance or cash in for certain rewards. As an added bonus, regularly using your card can help you fix your credit over time.
If you’re planning a trip, using your credit card to pay for your travel-related expenses, like hotel stays, airfare, car rentals, and more, can be a good option, especially if you have a travel rewards credit card.
These rewards credit cards let you earn points or miles on the purchases you make, and in many cases, you’ll earn more rewards if you’re using your card to pay for travel-related purchases. Even better, most travel rewards cards offer extra benefits like travel insurance, overseas purchase protection, and access to airport lounges.
Every travel rewards card is different, so familiarize yourself with the rewards and perks you could earn with your card before making purchases.
Using your credit card to buy big-ticket items like home electronics and appliances can be a great idea. Those more expensive items often mean you’ll earn more points or rewards.
You may also qualify for additional purchase protection on those big-ticket items through your credit card issuer. If anything goes wrong with the item, you may get a refund or a replacement.
Keep in mind that some electronics and appliance retailers offer their own credit cards with additional perks. You may want to consider applying for a second credit card through them if you’re planning on purchasing a new appliance or device.
Using your credit card to make purchases online can give you added peace of mind. Credit cards typically offer purchase protection and fraud protection for online purchases, while debit cards and gift cards may not. If a hacker or a would-be thief intercepts your personal information, your credit card’s fraud protection will ensure that you’re not responsible for any unauthorized charges. That said, it’s still a good idea to use a credit monitoring app to make sure your information is safe.
Using your credit card for recurring expenses like streaming service subscriptions can be a great way to build your credit while keeping your credit utilization ratio low. These services are typically inexpensive and easy to pay off in full each month. That means you’ll be better able to avoid carrying a balance on your card and won’t have to worry about paying interest on what you charge.
You may want to sign up for auto pay for the streaming services you use. This will help you maintain an on-time payment history while still earning credit card rewards.
Some card providers offer additional benefits for credit card purchases made at grocery stores. These cards often let you earn more rewards for those qualifying purchases, and some offer higher rewards for shopping at certain stores. Since groceries are part of your monthly budget, it’s easy to plan to pay them off in full each month.
Using your credit card can also give you access to additional rewards. Some cards have rotating bonus rewards categories that include gas stations, while other issuers offer cards that always give cash back rewards for purchases made at gas stations. And since your gas use is typically predictable month to month, it’s easy to include in your monthly budget and pay off the purchases you make in full each month.
If you’re renting a car, using your credit card to pay for the rental may be a great choice. Many card providers offer rental car insurance that covers theft or damage to the vehicle in addition to any cash back rewards or travel rewards you might earn. This can save you money on the rental since you may be able to opt out of purchasing insurance through the rental company.
Though using a credit card for most purchases can be a great way to increase your rewards, it’s not always the best way to pay for purchases. Here are a few instances when using a credit card won’t be in your best interest and could lead to additional bad credit card habits that may derail your budget:
If you’ve been asking yourself, “What should I use my credit card for?” keep these eight categories in mind. By using your credit card for regular purchases and paying off what you charge each month, you’ll build your credit and may be able to earn rewards on the purchases you make.
As you make purchases, you’ll want to stay on top of your credit score and report to ensure you’re on the right track. Get your free Credit Report Card and see where you stand.
Source: credit.com
Direct Link to offer
Also earn an additional $2,000 bonus for every $500,000 spent in the first year with no limit.
I signed up earlier this year for the $1,500/$20,000 offer. This offer gives $2,000/$30,000 and most people will likely consider it a better offer. Useful for those with a lot of upcoming spend. Another option is a similar bonus on the Venture X Business card.
The added $2,000/$500,000 might also be interesting for those with huge amounts of spend – this can basically turn the card into a 2.4% card (instead of the regular 2%).
Remember, Capital One pulls all 3 credit bureaus. Unlike most Capital One business cards, Spark Cash cards do not report the statement balances to the personal bureaus; see these Things to Know About Capital One Credit Cards before applying. We’ll add this to our List of Best Credit Card Signup Bonuses.
Related: My Business Credit Card Approvals With Capital One & Chase
Source: doctorofcredit.com
Direct Link to offer
Standard offer is 10% back, it’s now up to 15% (apparently unlimited earn). The card often has spend bonuses throughout the year which is another reason some people find it worth getting/keeping.
The card regularly offers 5% cash back as rewards cash to Best Buy and offers a points banking benefit. Every quarter you get to choose your 5% cash back category – travel, wholesale, utilities, home improvement, grocery, dining, gas, clothing with a $75 max.
Hat tip to reader TDD
Source: doctorofcredit.com
Update 8/11/24: Just adding now a direct link for the Blue Business Plus 50,000 offer with 0% APR. This is still targeted and won’t work for most people. (ht Parts_Unknown-) Some readers in the comments are reporting seeing this offer show up in their Amex login so you can check there as well.
No direct link to offer, shows for some people when logged in
Blue business cash:
Blue business plus:
Neither offer is an all time high, but might be worth considering for some people if you can get the offers to show.
Source: doctorofcredit.com
Best Buy Rewards can now be redeemed for gift cards. Best Buy cardholders earn Best Buy Rewards on their purchases. Points value:
And so it’s now possible to redeem points at the same value for non-expiring Best Buy gift card instead of an expiring Best Buy rewards certificate. (Note: some people prefer the certificates since it reduces the base cost and saves sales tax.)
Anyone enrolled in the Best Buy Rewards program can earn Best Buy Rewards on their purchases. Best Buy Cardholders can earn more on Best Buy purchases and also can sometimes earn on purchases elsewhere.
Source: doctorofcredit.com
SoFi has launched two invite only credit cards. Card details are as follows:
Neither card has any redeeming features from what I can tell.
Hat tip to DDG
Source: doctorofcredit.com
Update 8/9/24: Deal is back until 10/2/2024
Amex Marriott Bonvoy Brilliant | Bonvoy Bevy
American Express has increased the signup bonus offer on the premium Marriott Bonvoy Brilliant card and the mid-level Marriott Bonvoy Bevy card:
Offers are valid through May 1, 2024.
Bonvoy Brilliant:
Bonvoy Bevy
These are both best-ever offers. A lot of people will find these interesting for the signup bonus and benefits, despite the high annual fees.
Use a friend’s referral link to apply so that they’ll get some free points as well. Check out these Things To Know About Amex before applying. We’ll add this to our list of Best Current Credit Card Signup Bonuses.
Source: doctorofcredit.com