U.S. bank expands card rewards to put electric vehicle charging transactions on par with gasoline

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MINNEAPOLIS – (COMMERCIAL THREAD) –US Bank wants to make sure that all drivers – no matter what they drive – are rewarded for their purchases. This is why the American bank has extended the rewards on its Business and consumer credit cards that reward cardholders for gas station purchases to include equal rewards for electric vehicle (EV) charging transactions.

While many EV owners charge their vehicles at home, there are times on long journeys when they can use a public charging station. Cardholders can now earn up to 4x points or 4% cash back for their EV top-up transactions, depending on the terms and conditions of the rewards offered when using their cards for in-resort purchases – service.

“We have extended our card rewards to put electric vehicle charging transactions on a par with gasoline,” said Steve Mattics, head of retail payment solutions for US banks. “We are continually evaluating our credit card offerings to ensure that we are delivering meaningful rewards to our customers, and as vehicle refueling options shift from gas to a mix of gas and electric recharging,” we make sure that our cards meet our customers’ needs and preferences.

Mattics noted that, as an example, the US Bank Altitude Connect® Visa Signature® card provides cardholders with 4X points for purchases at gas stations. Using that same card, cardholders can now earn the same point value for their EV charges.

The United States has approximately 45,000 public charging stations for electric vehicles, according to the United States Department of Energy.

About the American Bank

US Bancorp, with nearly 70,000 employees and $ 567 billion in assets as of September 30, 2021, is the parent company of the US Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diverse mix of businesses: personal and business banking; Payment services; Banking services for businesses and businesses; and Wealth and Investment Management Services. The company has been recognized for its approach to digital innovation, social responsibility and customer service, including being named one of the world’s most ethical companies in 2021 and Fortune’s most admired super-regional bank. Learn more about usbank.com/about.

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