US Bank has expanded the rewards offered under its business and consumer credit cards that put electric vehicle (EV) charging transactions on par with gas station purchases.
Cardholders will now be able to earn up to 4x points or 4% cash back for their EV charging transactions.
The EV charging transaction rewards are based on the same terms and conditions that members otherwise get when using their cards for gas station purchases.
US Bank Retail Payment Solutions head Steve Mattics said: “We have expanded our card rewards to put EV charging transactions on par with gas.
“We are continuously evaluating our credit card offerings to ensure we provide meaningful rewards to our customers, and as options for fuelling vehicles expand from gas to a mix of gas and electric charging, we are making sure that our cards follow our customers’ needs and preferences.”
The US has around 45,000 public EV charging stations, according to the US Department of Energy.
US Bancorp is the parent company of U.S. Bank National Association. It has nearly 70,000 employees and $567bn in assets as of 30 September 2021.
The firm caters to millions of customers through a combination of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services.