Our Verdict
For small business owners looking for a cash-back credit card the Edward Jones Business Plus Mastercard®* might catch your eye. The card earns 4 points per dollar on prepaid hotels and car rentals booked directly in the Edward Jones Rewards Travel Center, 2 points per dollar on eligible net purchases over $40,000 and 1.5 points per dollar on eligible net purchases up to $40,000. You’ll also get perks like extended warranty, protection against loss or theft of new purchases and no foreign transaction fees. But other cards offer 2% back on spending without having to meet a steep $40,000 in spending, and without this card’s requirement of having an Edward Jones account to apply.
Pros
- Intro APR offer
- Extended warranty and travel protection benefits
- No foreign transaction fees
Cons
- Have to be an Edward Jones client to apply
- Only offers 2% rewards on annual spending above $40,000
- There’s an annual fee if you don’t use the card at least once a year
Highlights
- Earn 15,000 bonus loyalty points after spending $1,000 in eligible purchases on your card within 90 days of opening your account
- Earn 4 bonus loyalty points on prepaid hotels and car rentals booked directly in the Edward Jones rewards travel center
- Earn 2 loyalty points for every $1 spent on eligible net purchases over $40,000 and 1.5 loyalty points for every $1 spent on eligible net purchases up to $40,000
- Introductory APR offer
- Annual fee is waivable
Introduction
The Edward Jones Business Plus Mastercard®* is a card for cash-conscious small business owners looking for a credit card with decent rewards on everyday spending. With this card, you’ll earn 4 points per dollar on prepaid hotels and car rentals booked directly in the Edward Jones Rewards Travel Center, 2 points per dollar on eligible net purchases over $40,000 and 1.5 points per dollar on eligible net purchases up to $40,000.
In addition to cash-back earnings on all purchases, as a Mastercard, you’ll get several benefits including an extended warranty benefit, purchase assurance coverage, zero fraud liability and ID Theft protection upon enrollment. The card also has no foreign transaction fees and comes with a 0% intro APR for the first 12 billing cycles on balance transfers followed by a variable APR of 20.24% - 29.99% on purchases and balance transfers. 0% introductory fee for balances transferred within the first 60 days of account opening. A balance transfer fee of 3% of each transferred amount ($5 minimum) will apply after that.
There are some drawbacks. First, that minimum annual spending requirement of $40,000 to earn 2% cash back may be too high for some businesses. Second, the card has a $0 annual fee every year with at least one purchase to the account, otherwise $25 that will be charged to your account if you forget to use it. And, you can only apply for the card if you have an Edward Jones account, which severely limits the scope of who can and can’t get this card.
Overall, the card is an OK choice for someone seeking a simple cash-back business credit card. But there are other options that may offer greater returns and benefits without all the caveats of this card.
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Quick Facts
- $0 annual fee every year with at least one purchase to the account, otherwise $25
- Earn 15,000 points after spending $1,000 in eligible net purchases within 90 days of opening the account
- Earn 4 points per dollar on prepaid hotels and car rentals booked directly in the Edward Jones Rewards Travel Center, 2 points per dollar on eligible net purchases over $40,000 and 1.5 points per dollar on eligible net purchases up to $40,000
- 0% intro APR for the first 12 billing cycles on balance transfers followed by a variable APR of 20.24% - 29.99% on purchases and balance transfers. 0% introductory fee for balances transferred within the first 60 days of account opening. A balance transfer fee of 3% of each transferred amount ($5 minimum) will apply after that
- MasterRental secondary damage and theft rental car insurance
- Travel accident insurance with trip cancellation
- Roadside assistance access
Edward Jones Business Plus Card Rewards
Earning Rewards
The Edward Jones Business Plus Mastercard’s earning structure is simple: Earn 4 points per dollar on prepaid hotels and car rentals booked directly in the Edward Jones Rewards Travel Center, 2 points per dollar on eligible net purchases over $40,000 and 1.5 points per dollar on eligible net purchases up to $40,000
The card earns Loyalty Points, which can be redeemed for cash back. There is no opportunity to increase the value of Loyalty Points through travel redemptions, making the Edward Jones Business Plus Mastercard effectively a cash-back credit card.
Redeeming Rewards
The Edward Jones Business Plus Mastercard®* earns Loyalty Points that can be redeemed for airfare, Edward Jones Loyalty Invest cash deposits, merchandise, donations, gift cards or cash back in the form of a statement credit.
Loyalty Points can be redeemed for cash back at a rate of 1 cent per point. Rewards expire five years from the last day of the calendar quarter in which they were earned.
Rewards Potential
The Edward Jones Business Plus Mastercard®* earning potential depends on how much your business spends on credit cards every year. For the purposes of calculating how much you could earn, we will use a sample small business with $50,000 of expenses annually that can be charged to credit cards and $5,000 of hotel and car travel arrangements that can be booked as prepaid travel through the Edward Jones Travel Center.
|
Category
|
Earning Rate
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Estimated Annual Spend
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Estimated Annual Earnings
|
|
Prepaid hotel and car rentals
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4X
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$5,000
|
20,000
|
|
All other purchases (Beyond $40,000 Spent)
|
2X
|
$10,000
|
20,000
|
|
All other purchases (Below $40,000 Spent)
|
1.5X
|
$40,000
|
60,000
|
|
Total: 100,000 Loyalty Points
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|||
In the above example, a business could expect to earn 100,000 points, worth $1,000 in cash back, per year. Note that we don’t anticipate that the average business will have expenses this high. In fact, we estimate that the typical sole proprietorship has $39,337 in expenses that can be charged to a card with $5,331 of that spending going to hotels and car rentals. In this more typical scenario, a small business would earn 80,329 points or $803.29 in cash back.
0% Introductory Rates
The Edward Jones Business Plus Mastercard®* is offering 0% intro APR for the first 12 billing cycles on balance transfers followed by a variable APR of 20.24% - 29.99% on purchases and balance transfers. 0% introductory fee for balances transferred within the first 60 days of account opening. A balance transfer fee of 3% of each transferred amount ($5 minimum) will apply after that.
Other Edward Jones Business Plus Card Benefits
- Zero fraud liability. Protects you from unauthorized use of your card.
- Mastercard Global Emergency Services. Provides 24/7 customer assistance with lost and stolen cards reporting, emergency card replacement, emergency cash advance and more.
- Enhanced ID theft protection. Provides cardholders with ID Theft Resolution Services and Alerts with 24/7 web monitoring and access to helpful services for victims of identity theft.
- Travel accident insurance with trip cancellation. Provides accidental death and dismemberment insurance for accidents that occur aboard a common carrier when tickets are purchased with your Edward Jones Mastercard.
Fine Print
Interest Rates
- Regular APR: 20.24% - 29.99% variable
- Purchase intro APR: N/A
- Balance transfer intro APR: 0% intro APR for the first 12 billing cycles
Fees
- Annual fee: $0 annual fee every year with at least one purchase to the account, otherwise $25
- Balance transfer fee: 3% of each transferred amount ($5 minimum)
- Foreign purchase transaction fee: None
How the Edward Jones Business Plus Card Stacks Up
Edward Jones Business Plus Mastercard®* vs. U.S. Bank Business Triple Cash Rewards World Elite Mastercard®*
The no-annual-fee U.S. Bank Business Triple Cash Rewards World Elite Mastercard®* earns 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center, 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants and 1% cash back on all other eligible net purchases and offers a unique-for-a-business card 0% introductory APR on purchases and balance transfers for 15 billing cycles, followed by a regular variable APR of 19.24% - 28.24%. A 3% balance transfer fee with a $5 minimum applies.
Other perks include a $100 statement credit for recurring software subscription expenses such as QuickBooks and the ability to earn enhanced rewards by shopping online at 1,100+ stores through usbank.com or the U.S. Bank Mobile App. Depending on your spending habits, this may work out to be a more rewarding option than the Edward Jones Business Plus card, plus there are no investment account requirements.
Edward Jones Business Plus Mastercard®* vs. The American Express Blue Business Cash™ Card
If your business spends less than $40,000 on credit cards, consider The American Express Blue Business Cash™ Card (terms apply, see rates & fees) which earns 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. If you prefer transferable points, consider its near-identical twin, The Blue Business® Plus Credit Card from American Express (terms apply, see rates & fees) which earns 2 Membership Rewards points per dollar on everyday business purchases such as office supplies or client dinners up to the first $50,000 in purchases per year, then 1 point per dollar on all other purchases.
Both cards offer secondary car rental loss and damage insurance¹, purchase protection², and an extended warranty benefit³. Both cards also have no annual fee.
Edward Jones Business Plus Mastercard®* vs. Ink Business Cash® Credit Card
If you are looking for a no-annual-fee card that rewards you for spending in business categories such as office supply stores and telecommunications, consider the Ink Business Cash® Credit Card. The card earns 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year and 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases and comes with a 0% introductory APR on purchases for 12 months, then a standard APR of 18.49% - 24.49% variable applies for purchases and balance transfers. A balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater, applies.
If this earn rate aligns with your spending patterns, then it’s likely to be more rewarding than the Edward Jones Business Plus Card. And there’s no requirement to have a linked investment account to apply.
Is the Edward Jones Business Plus Card for You?
For business owners seeking cash-back rewards, the Edward Jones Business Plus Mastercard®* is a reasonable choice. But there are likely better options out there for rewards-maximizers.
Find the Best Business Credit Cards of 2024
Methodology
Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors including:
- Annual fees
- Welcome bonus offers
- Ongoing earning rates
- Value of individual points of miles
- Included travel or merchant credits
- Additional cardholder benefits
Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors come together to provide a star rating for each individual card.
Read more: How Forbes Advisor Rates Credit Cards
To view rates and fees for The American Express Blue Business Cash™ Card please visit this page.
To view rates and fees for The Blue Business® Plus Credit Card from American Express please visit this page.
¹Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
²Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
³Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
*The information for the following card(s) has been collected independently by Forbes Advisor: Edward Jones Business Plus Mastercard®, U.S. Bank Business Triple Cash Rewards World Elite Mastercard®. The card details on this page have not been reviewed or provided by the card issuer.
