The U.S. Bank Business Triple Cash annual fee is $0 per year. U.S. Bank Business Triple Cash’s $0 annual fee is lower than the average annual fee among new credit card offers right now. It’s not the only fee you need to worry about with the U.S. Bank Business Triple Cash Rewards World Elite Mastercard®, though.
Yes, U.S. Bank does refund annual fees, as long as cardholders cancel their account within 30 days of when the fee is assessed. It’s sometimes possible to get a U.S. Bank annual fee refunded or waived due to financial hardship or active military status, too. Otherwise, if you try to get a refund on your annual fee after 30 days, U.S. Bank may be able to offer you a prorated refund, though you won’t get the whole fee back.… read full answer
How to Get a U.S. Bank Annual Fee Refund
Call credit card customer service at 1-800-285-8585 within 30 days of the fee being charged.
Ask the representative to cancel your account.
Request a refund for the annual fee.
Receive the refunded fee as a credit or check.
If you decide to cancel your U.S. Bank card in order to get an annual fee refund, just make sure you’ve redeemed any credit card rewards and paid your balance in full before you cancel. And if you want to see how this move might affect your credit score, try WalletHub’s free credit score simulator.
Credit cards with annual fees are worth it when they save you more than they cost you, especially if your savings exceed what the best no annual fee credit cards available to you would provide. Paying an annual fee on a credit card can unlock bigger initial rewards bonuses, higher ongoing earning rates, and a variety of additional benefits. But you need to make sure you get your money’s worth and actually use the perks you’re paying extra for. If you don't, a credit card that does not charge annual fees may offer better long-term value.… read full answer
Times When a Credit Card Annual Fee Is Worth It
When you can spend enough on the card to earn rewards worth more than the annual fee
Rewards can come as cash back, points, or miles, and if you spend enough to earn lots of them, the rewards alone can pay for your annual fee. If your card gives 1.5% back on purchases and the annual fee is $95, for instance, you’ll have to spend about $6,350 annually to break even with ongoing rewards alone.
When the perks your card offers are things you’re going to buy and use anyway
Annual travel credits, airport lounge memberships, TSA Pre-Check application credits, and free hotel nights are a few high-value perks offered by some credit cards. If you were planning to spend money on these things anyway, the annual fee on a credit card might start to seem like a deal.
When it would save you more than the best card with no annual fee
If you crunch the numbers and determine that a card with an annual fee would save you the most money at the end of the day, even considering the fixed yearly cost, then go for it. Just make sure to reevaluate if your spending or payment plans change.
To figure out if a credit card’s annual fee is going to be worth paying, consider how much you spend – overall and in the card’s major rewards categories. Then calculate how much you would earn with each card’s rewards structure. And evaluate the practical value of the card’s other perks – it’s good to be realistic about how often you’ll use them. Finally, subtract the annual fee. The remainder is how much the card could save you, assuming you pay the bill in full every month and avoid finance charges.
However, there are a number of no annual fee credit cards that offer rewards such as cash back or rewards earned on purchases. But you will need good credit or better to qualify for most of these cards.
A good go-between is a credit card that waives the annual fee for the first year you have the card. After the first year, the fee will be charged to your account. If, after that first 12 months, you’ve determined that having the card isn’t beneficial, you can close the account. Keep in mind that closing a credit card account, especially after only a year, could have a negative effect on your credit score. In addition, when your card is closed, you will be unable to redeem any rewards you’ve earned with the card.
Whether you should have a no annual fee card depends on your spending habits and preferences. If you’ll earn enough in rewards to warrant the cost of an annual fee, it might be worth the investment. But if you know you won’t make too many purchases over the course of a year, your best bet would be to stick with the no annual fee card.
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