U.S. Bank Business Platinum Card review | finder.com

U.S. Bank Business Platinum review

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U.S. Bank Business Platinum Learn more Apply now

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  • Clicking Apply now will take you to your online application on the bank's website. You do not need to be an existing customer of this bank to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • Once approved, you will typically receive your credit card within 1-2 weeks
Click here to start your application >>

A small business credit card with a long intro APR on balance transfers and purchases.

  • Get this card if you want an intro APR on balance transfers and purchases.
  • Pick something else if you want cash back.
  • Apply with an excellent credit score of 740 or higher.
Product NameU.S. Bank Business Platinum
Card TypeVisa
Annual Fee$0
Purchase APR12.24% to 20.24% variable
Intro Purchase APR0% for the first 20 billing cycles (then 12.24% to 20.24% variable)
Balance Transfer APR12.24% to 20.24% variable
Intro Balance Transfer APR 0% for the first 20 billing cycles (then 12.24% to 20.24% variable)
Balance Transfer Fee$5 or 3% of the transaction, whichever is greater
Cash Advance Rate26.24% variable
Foreign Transaction Fee3% of the transaction value
Cash Advance Fee$10 or 5% of the cash advance amount, whichever is greater
Interest Free PeriodUp to 24 days
Late Payment FeeUp to $39
Returned Payment Fee$35
Rates & FeesRates & Fees
Minimum Age18 years of age

The basics

If your business needs payment flexibility and you’re looking for a credit card to help you with that, the U.S. Bank Business Platinum could be worth taking a look. You’ll be able to rest assured knowing your purchases are secure, have a dedicated business card customer support line and more.

The perks

  • Intro APR period.

    Get a 0% intro APR period on balance transfers and purchases for the first 20 billing cycles following your account opening. After that, a variable APR of 12.24% to 20.24% will apply. This could be ideal if you want to stack up on inventories or if you’re paying a high APR on another card.

  • No annual fee.

    Own this card without having to pay an annual fee.

  • Dedicated support service.

    You get 24/7 dedicated support service by business specialists.

You’ll also like

  • Card security.

    You get a hard-to-counterfeit chip card, which also comes with zero liability and fraud monitoring.

    • Spending controls.

      Set spending controls on your employees’ business cards based on location, time and dollar amount. You can also customize their due date or set up account alerts.

    What to watch out for

    • No signup bonus.

      Most cards come with a bonus once you meet certain spending criteria. Unfortunately, this card doesn’t have any bonuses.

    • Foreign transaction fee.

      Limit your credit card spending when traveling abroad to avoid paying a fee of 3% of the transaction. It may not seem like much, but it can quickly add up.

    • Penalty APR.

      Making a returned payment, exceeding your credit limit twice in a year or being five days late on a payment twice in a year will land you with a fixed penalty APR of 29.99%. To revert your rate back to the standard APR, you’ll need to make timely payments of at least the minimum amount due for six consecutive months and not exceed your credit limit during this time.

    • Other fees.

      You’ll pay fees for late payments, returned payments, going over your limit, cash advances and convenience check advances.

    • Loss of intro APR period.

      If you make a single late or returned payment, or if you exceed your credit limit, U.S. Bank may end your intro APR period and apply the standard or penalty APR.

    What size business is the U.S. Bank Business Platinum good for?

    Small businesses that want to make a large purchase of inventories or supplies could find this card useful. You’ll get to carry your balance interest free for a year, giving you a significant amount of time to pay off your initial purchases.

    Also, if your business is stuck paying a high APR on another card, you can transfer your balance and use the intro APR period to pay it off without interest.

    Compare similar business credit cards

    Updated May 23rd, 2019
    Name Product Rewards Purchase APR Annual Fee
    N/A
    12.24% to 20.24% variable
    $0
    Enjoy a market-leading 0% intro APR on purchases and balance transfers for the first 20 billing cycles, reverting to a variable 12.24% to 20.24% APR. Rates & Fees
    3x on travel, shipping, Internet, cable, phone and online ads up to $150,000 combined annually; then 1x after and on all other purchases
    18.24% to 23.24% variable
    $95
    80,000 bonus points after you spend $5,000 on purchases in the first 3 months after account opening. That's $1,000 toward travel rewards when you redeem through Chase Ultimate Rewards®
    5% back at US office supply stores and on US wireless telephone services on up to $50,000 annually (then 1%). 3% on a chosen category on up to $50,000 annually, then 1% after and on everything else
    14.49%, 19.49% or 21.49% variable
    $0
    Save on interest with a 0% intro APR on purchases for 15 months. After that your APR will be 14.49%, 19.49% or 21.49% variable. Rates & fees
    2x points on everyday business purchases on up to $50,000 annually, then 1x points
    15.49%, 18.49% or 21.49% variable
    $0
    Earn 2x Membership Rewards® points on everyday business purchases on up to $50,000 with no category restrictions. Rates & fees
    5% on office supplies, Internet, cable and phone up to $25,000 combined annually; 2% on gas and dining up to $25,000 combined annually; 1% on all other purchases
    15.49% to 21.49% variable
    $0
    $500 bonus cash back after you spend $3,000 in the first 3 months

    Compare up to 4 providers

    What should I know before I apply?

    To apply for the U.S. Bank Business Platinum, you need to live in a state that has a U.S. Bank branch. Also, you’ll need to provide information, such as:

    • Business name and address
    • Years in business and type of business
    • Expected monthly transactions
    • Personal information of the company owner

    What credit score do I need?

    To increase your chances of approval, apply with an excellent business credit score of 740 or higher.

    Which credit bureau does U.S. Bank pulls my credit from?

    Most of the time, U.S. Bank will pull your credit from TransUnion. But sometimes, it may pull your credit from either Experian or Equifax.

    What do customers say about the U.S. Bank Business Platinum?

    Customers who own this card are generally happy with the size of the credit limit they received. And the main reason many cardholders choose this card is to make balance transfers.

    The Better Business Bureau rates the U.S. Bank with a B. Most of the negative feedback on the BBB website concerns poor customer service and hidden costs. To avoid unpleasant situations, make sure you read the card’s terms.

    How to apply for the U.S. Bank Business Platinum?

    1. Go to the U.S. Bank website and select the U.S. Bank Business Platinum. Click apply now.
    2. Complete the application form with information about yourself and your business.
    3. Review your application and submit it.

    How long will it take to get my U.S. Bank Business Platinum?

    U.S. Bank usually makes a decision within minutes. If you haven’t heard back in a few days, call 1-800-947-1444 and choose option 1 to get a status on your application.

    Upon approval, your card should arrive in the mail within 7 to 10 business days.

    I got the card. Now what?

    • Download the U.S. Bank mobile app Use it to monitor your accounts, make deposits or send money with Zelle®. You can also set up automatic payments, change your ATM PIN and more.
    • Make timely payments. Late payments could cost you $39 in fees — and U.S. Bank may impose a penalty APR of 29.99%, which can apply to your account for six months or more.
    • Set spending controls. Take advantage of employer resources to make sure your employees don’t spend more than they should. You can also set spending controls based on time and place, and you can track their spending online.
    • Contact customer service. For any questions, call U.S. Bank customer service at 1-800-374-7979.
    • Bottom line

      The U.S. Bank Business Platinum could be a decent addition to any small business that’s looking to use an intro APR period on balance transfers and purchases without paying an annual fee.

      However, if you’re not sure whether this card is the right one for your business, feel free to check out other business credit cards and find the best one that suits your needs.

      Frequently asked questions

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