Truist Business Cash Rewards Card Review
Why trust us? Investor.com has no financial relationship with any of the credit card providers whose products we analyze and review. Our opinions are based solely on data and our own extensive independent research — that means unbiased guidance for consumers. Rewards cards in our cashback credit card calculator are listed in descending order according to how much money they pay out annually based on the inputs.
It’s the monthly spending cap that triggered our side eye. Once you hit the $2,000 combined — c-o-m-b-i-n-e-d 👀 — limit on the purchases within the two top cashback categories, it’s all downhill, unless you’re a Truist biz banking customer and qualify for the Loyalty Cash Bonus booster.
Let’s start with the bottom line: If you’re a small-budget business with a Truist business banking account, read on. Everyone else, the FOMO potential here is pretty low.
The Truist Business Cash Rewards credit card offers a fairly standard tiered rewards program, but only up to a point. That point is $2,000 in monthly spending in the 3% gas and 2% restaurant/office supply store cashback categories combined. After that, the rewards rate drops to a piddly 1%. Being a Truist customer wins back a few attractiveness points: Redeeming rewards in a Truist business account comes with a 10% to 50% Loyalty Bonus based on your bank balance.
The basics: Earn 3% cash back on gas and 2% at restaurants and office supply stores, up to $2,000 in combined spend in 2% and 3% categories per month. Earn 1% cash back on all other eligible purchases. 0% intro APR on purchases for nine months after account opening.
Truist Business Cash Rewards Credit Card
Truist Business Cash Rewards Credit Card pros and cons
- 3% cashback on gas and 2% on restaurants and office supplies
- 0% intro APR on purchases for nine billing cycles
- 10%-50% loyalty cashback bonus for Truist biz banking customers
- No annual fee
- $2,000 monthly spending cap for 2% and 3% eligible purchases — combined
- Yes, combined
- Just 1% cashback on everything else
- Loyalty Cash Bonus requires maintaining a Truist business deposit account
- Rewards expire after five years
- $25 minimum for cashback redemptions
- No welcome bonus
- 3% foreign transaction fee
Truist Business Cash Rewards Credit Card cashback rewards spending categories
The following table shows the cashback rewards rate per $1 spent in the six most common spending categories. The “Bonus Rate” refers to the amount you can earn in excess of the card’s standard rewards rate.
Some cashback cards limit the spending amount eligible for the bonus rate (a.k.a. the “Spend Cap”). Once you hit that cap (e.g. $1,500 spending in a particular category during a defined time period), the rewards rate on future purchases in that category reverts to the lower “Default Rate.”
|Category||Default Rate||Bonus Rate||Bonus Spend Cap||Bonus Spend Period (Months)|
What we like
If your monthly expenses are light, the 3% cashback on gas and 2% on purchases at restaurants and office supply stores are competitive with other no-fee business credit cards.
Funnel rewards into a Truist (the love child of BB&T and SunTrust) business checking, business savings, or business money market account, and you’ll get an automatic 10% Loyalty Cash Bonus. That's if your balance is $25,000 or less. If it's more ...
Keep a big bank balance at Truist? The Cash Bonus on redemptions is bumped up to 25% for balances between $25,000 and $49,999, and 50% for balances of $50,000 or more. The 50% Loyalty Bonus turns a lame 1% base cashback rate into a more worthwhile 1.5%.
Got a big purchase on the horizon? The 0% introductory APR for the first nine billing cycles offers cheap financing, although some competitive no-annual-fee cards offer longer no-interest periods.
Cash rewards are redeemable as a statement credit, electronic deposit, check ($25 minimum balance required for those three), gift cards, merch, and travel via the Truist Rewards Center.
Adding authorized cardholders is free, which is true for most cards in this category.
The Truist Business Cash Rewards card integrates with QuickBooks to make accounting easier, like many business credit cards do.
Comes with Visa Signature Business credit card perks, like auto rental collision damage waiver, extended purchase and warranty protections, travel accident insurance, lost luggage reimbursement and more.
We gotta hand it to Truist for spelling out the ugly bits (spending caps, expiration dates) in large type, upfront.
What we don't like
Reward spending caps = limited earning potential. A $2,000 monthly spending cap applies to purchases that are eligible for the 2% and 3% rewards rate. To be crystal clear, that’s $2,000 combined — fine for petite spends, less flattering if you put big purchases on the card.
Color us nonplussed by the 1% base cashback rate. It applies to everything that doesn’t qualify for higher rewards (including amounts that exceed the $2,000 cap).
You’ll probably want a backup rewards card with a higher rewards rate for everything you buy that earns just 1% on Truist Biz card.
There's a $25 minimum for cashback redemptions. Not a lot of cards impose that. Just sayin'.
Cash rewards expire five years from the date issued. Why? Just why?
Welcome bonus? Nope. Nor is there a 0% introductory APR on balance transfers. If you want borrow cash or move a balance onto the card, that’ll be an extra 4% of each advance, with a $10 minimum.
The bottom line
Is the Truist Business Cash Rewards Credit Card the best rewards card for your wallet? The answer depends entirely on your spending patterns. Let the numbers speak for themselves: Use the investor.com Cashback Credit Card Calculator to see which credit card pays back the highest rewards based on how much you spend each month.
Truist Business Cash Rewards Credit Card fine print
Truist Business Cash Rewards card pricing, fees and reward programs terms in a type size that’s blissfully readable.
Does the Truist Business Cash Rewards Credit Card charge an annual fee?
No, there is no annual fee for the Truist Business Cash Rewards Credit Card.
Roughly 11% of the business cashback cards we track in our database charge an annual fee. The average annual fee is $200.
Does the Truist Business Cash Rewards Credit Card offer a welcome bonus?
No, the Truist Business Cash Rewards Credit Card card does not currently offer a welcome bonus.
Of the business credit cards in our database, 83% offer a welcome bonus. Currently, the average sign-up bonus on a new business cashback card is $421.79, with the median being $300.
How much cashback can I earn with the Truist Business Cash Rewards Credit Card?
The average business that spends $2580 per month will earn $479.88 in cash back per year using the Truist Business Cash Rewards Credit Card. For comparison, the average annual rewards payout from the business credit cards in the investor.com database is $483.97, and $464.40 is the median.
These calculations are based on average consumer spending data from the Bureau of Labor Statistics (BLS) and the reward payout rates from the providers we track. Of course, you’re so much more than an average data point (aka “consumer unit,” in BLS parlance). The amount you can earn in cashback rewards using the Truist Business Cash Rewards Credit Card depends entirely on your unique spending habits.
Find out exactly how much you’ll rake in with the Truist Business Cash Rewards Credit Card by tailoring the spending inputs in the calculator above.
The results of the investor.com Credit Card Rewards Calculator are based on the monthly spending amounts you enter and the annual dollar value of the rewards each credit card program pays per $1 spent. Credit card companies often express this payout amount as a percentage (e.g., 1.5% of every dollar spent) or on a points basis (e.g. ,1.5 points for every dollar spent). We converted all of them to a dollar amount (“Cash Back Per Year”) to make comparing offers easier.
To calculate the amount of cash back you could earn per year, we factored in:
- Spend category inputs: The default dollar values for each “Spend Category” in the Best Cashback Credit Cards tool — gas, groceries, travel, restaurant, entertainment, pharmacy, other — are based on average American spending data from the Consumer Expenditure Surveys from the U.S. Bureau of Labor Statistics. We also include additional spend categories (such as streaming services, online shopping, utilities, transit, Amazon and more) to help you see which rewards cards are most closely aligned with your actual spending patterns. We encourage you to customize the monthly spend inputs for the most accurate results.
- Tiered rewards rates: If a rewards credit card pays higher cashback rates on certain spending categories (also called “Bonus Rewards”), that difference is reflected in the total “Cash Back Per Year” tally.
- Rewards spending caps: Some cards impose category- or time-based limits (monthly, quarterly, annually) that affect the amount of rewards you can earn. For example, a card may pay 3% cash back on groceries on up to $1,000 of spending each quarter, then revert to the base/default rewards rate until the following quarter. We accounted for bonus spending caps and timeframe in the calculations.
- Default rewards rates: Purchases that exceed a spending cap are usually subject to a lower default rewards rate (e.g., 1% or 1.5%). We mathed that out too.
- Annual fees: If a rewards card charges an annual fee, we deducted that amount from the “Cash Back Per Year” total to provide a true accounting of a card’s annual rewards payout.
What’s not included in the “Cash Back Per Year” total is the cash value of any sign-up/introductory bonus. We highlight any Welcome Bonus separately. While sign-up bonuses can be the most lucrative part of getting a new cashback rewards credit card, not everyone will want or be able to do what it takes to earn the extra cash. (It usually requires spending a certain amount in a specified time period after the card is activated.)
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