3% isn't great rewards for a business debit card. I have a business bank account where they are offering 4% but you need 15 transactions a month. I am just not expensing my business bank account like that. I'm using the business bank account to pay off my business credit cards as revenues flow in. I have currently four 0% APR business cards open which I need to pay off.
It requires a minimum of 1,000 and direct deposit which for many wouldn't be a problem however you need to make 15 debit card purchase from your business account a month. Given that I use business credit cards for expenses and float it doesn't really fit my model. I guess it could be done if I wanted to run all my bills online through the debit card.
Bottom line I don't think these high APY rates are here to stay as the Feds Funds rate is unsustainable due to having to service payments on a 31 trillion debt. Ultimately we could be looking at a trip back down to 0% rates, possibly even by the end of 2023 so I don't know if I would waste time hopping banks for yield.
Official travel point totals as of 7/29/23 (1,264,664 Total Points) Chase Ultimate Rewards 500,112 | IHG One Rewards 184,815 | Hilton Honors 143,801 | AMEX Membership Rewards 101,672 | World of Hyatt 90,413 | Marriott Bonvoy 84,039 | Citi Thank You 62,555 | Southwest Rapid Rewards 27,709 | United MileagePlus 13,316 | British Airways Avios 12,333 | Jet Blue TrueBlue 11,661 | NASA Platinum Rewards 1,883 | AA Advantage 1,744 | Navy Federal Rewards 792 | Delta Sky Miles 175 | Virgin Atlantic Virgin Points 100 | Discover CB 18,459 ($184.59)| Lowes Business Rewards 6,780 ($67.80) | Amazon Rewards 2,305 ($23.05)