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

U.S. Bank Visa® Platinum Card review – November 2018

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A no-annual-fee credit card with one of the longest intro APR periods on balance transfers and purchases.

30-second take

  • Get this card if you want the longest intro APR period on purchases and balance transfers.
  • Pick something else if you want cash back.
  • Apply with a good to excellent credit score of 740 or higher.
Product NameU.S. Bank Visa® Platinum Card
Card TypeVisa
Annual Fee$0
APR (Annual Percentage Rate) for Purchases11.99% to 23.99% variable
Introductory Purchase APR0% for the first 20 billing cycles (then 11.99% to 23.99% variable)
Introductory Balance Transfer APR 0% for the first 20 billing cycles (then 11.99% to 23.99% variable)
Balance Transfer Fee$5 or 3% of the transaction, whichever is greater
Cash Advance Rate25.99% variable
Foreign Transaction Fee3% of the transaction value
Cash Advance Fee$10 or 4% of the cash advance amount, whichever is greater
Interest Free PeriodUp to 24 days
Late Payment Fee$38
Returned Payment Fee$35
Additional Cardholder Fee$0
Minimum Age18 years of age

The basics

The perk that sets the U.S. Bank Visa® Platinum Card apart from the competition is its incredibly long intro APR period on balance transfers and purchases. And if your credit history is one to envy, you could get a low APR after the intro period passes.

The perks

  • Intro APR period.

    Enjoy a 0% intro APR period on purchases and balance transfers for an incredible 20 billing cycles following your account opening. After that, the rate reverts to a variable APR of 11.99% to 23.99%. This is probably the longest intro APR period you can get with a credit card.

  • No annual fee.

    You’ll pay no fees to own this card.

You’ll also like …

  • Cell phone protection.

    When you pay your cell phone bill with your card, you get coverage for your phone from damage or theft up to $600, with a $25 deductible. You can make up to two claims for a total of $1,200 in a 12-month period.

  • No penalty APR.

    Don’t worry if you make a late payment — you’ll only pay a penalty fee and not a penalty APR. Other cards have penalty APRs up to 30% that may apply as soon as you make a late or returned payment and can last indefinitely.

  • Free TransUnion credit score.

    Enroll in online banking to obtain your TransUnion score for free.

  • Choose your own due date.

    Get payment flexibility by choosing your due date.

  • Digital wallet.

    Your card is compatible with Apple Pay, Samsung Pay, Google Pay, Microsoft Wallet, Fitbit Pay, Garmin Pay and Visa Checkout.

What to watch out for

  • No signup bonus.

    Most credit cards offer a signup bonus after you meet certain criteria. Unfortunately, this card doesn’t have one.

  • Balance transfer limits.

    Make sure you transfer your balances within 60 days of card membership. Otherwise, you won’t get the intro APR period on balance transfers.

  • Potentially high APR.

    If you have a weak credit history, you may be given an interest rate up to 23.99% variable. That’s high, considering the average APR is around 16%.

  • Foreign transaction fees.

    With each transaction you make abroad, you’ll pay a fee for payments made in US dollars and a 3% fee for foreign currency payments.

Consider other cards if …

Compare 0% APR credit cards

Name Product Introductory Purchase APR Intro APR for Balance Transfer APR (Annual Percentage Rate) for Purchases
0% for the first 15 months (then 14.99% to 25.99% variable)
0% for the first 15 months (then 14.99% to 25.99% variable)
14.99% to 25.99% variable
Earn a $150 bonus statement credit after you spend $1,000 on purchases in the first 3 months. Rates & Fees
0% for the first 15 months (then 14.99% to 25.99% variable)
0% for the first 15 months (then 14.99% to 25.99% variable)
14.99% to 25.99% variable
Earn up to $250 back. Earn $150 back after you spend $1,000 or more in purchases with your new card within the first 3 months of Card Membership. Plus, earn an additional $100 back after you spend an additional $6,500 in purchases within your first 12 months. You will receive the cash back in the form of a statement credit. Rates & Fees
0% for the first 18 months (then 12.99%, 16.99% or 20.99% variable)
0% for the first 18 months (then 12.99%, 16.99% or 20.99% variable)
12.99%, 16.99% or 20.99% variable
An 18-month 0% Intro APR period on both purchases and balance transfers, plus zero foreign transaction fees, makes this is a strong well-rounded card. See Rates and Fees
0% for the first 15 months (then 14.99%, 18.99% or 24.99% variable)
14.99%, 18.99% or 24.99% variable
Earn unlimited 1.5% cash rewards on purchases. See Rates and Fees.
0% for the first 12 months (then 14.99% to 25.99% variable)
0% for the first 12 months (then 14.99% to 25.99% variable)
14.99% to 25.99% variable
Earn $200 bonus cash back after you spend $1,000 on purchases in the first 3 months. Rates & Fees
0% for the first 15 billing cycles (then 13.99% variable)
13.99% variable
A low, variable APR on purchases, balance transfers and cash advances.
0% for the first 12 months (then 15.99% to 25.99% variable)
0% for the first 21 months (then 15.99% to 25.99% variable)
15.99% to 25.99% variable
The Best Interest Is No Interest. Take advantage of our low Intro APR for 21 months on balance transfers and for 12 months on purchases with the Citi Simplicity® Card.
0% for the first 20 billing cycles (then 11.99% to 23.99% variable)
0% for the first 20 billing cycles (then 11.99% to 23.99% variable)
11.99% to 23.99% variable
Special 0% introductory APR* on purchases and balance transfers for the first 20 billing cycles and after that, a variable APR, currently 11.49% - 23.49%,* based on your creditworthiness.
0% for the first 15 months (then 14.99% to 25.99% variable)
0% for the first 15 months (then 14.99% to 25.99% variable)
14.99% to 25.99% variable
Earn 10,000 Membership Rewards® Points after you use your new card to make $1,000 in purchases in your first 3 months.
0% for the first 14 months (then 13.99% to 24.99% variable)
0% for the first 14 months (then 13.99% to 24.99% variable)
13.99% to 24.99% variable
Earn 5% cash back in rotating categories each quarter like gas stations, restaurants, Amazon.com, wholesale clubs and more, up to the quarterly maximum each time you activate. Plus unlimited 1% cash back on all other purchases.
0% for the first 15 months (then 16.99% to 25.74% variable)
0% for the first 15 months (then 16.99% to 25.74% variable)
16.99% to 25.74% variable
Jumpstart your financial fitness! 60 day introductory balance transfer offer, save on interest, and get your free monthly credit score.

Compare up to 4 providers

How does a balance transfer work with this card?

To get the 0% intro APR period on balance transfers for the first 20 billing cycles following your account opening, make your transfers within 60 days of card membership. After the intro period passes, or if you make transfers after your first 60 days, a variable APR of 11.99% to 23.99% will apply.

Each balance transfer will cost you $5 or 3% of the transaction, whichever is greater. This means a balance transfer of $3,000 will cost $90 in fees.

What should I know before I apply?

To apply for this card, you must be a US resident and at least 18 years old.

You’ll need to provide the following information:

  • Your full name and contact information.
  • Your residential status.
  • Your annual income and employment information.
  • Your Social Security number.

What credit score do I need?

Apply with a good to excellent credit score of 740 or higher. If you have an excellent credit score and low utilization, you may get a low APR and high credit limit.

What do customers say about the U.S. Bank Visa® Platinum Card?

The Better Business Bureau (BBB) has accredited U.S. Bank since 1970 and gives it a B rating. Most negative feedback on the BBB website revolves around poor customer service and issues with legitimate transactions being marked as fraudulent. Some customers claim that when they used their credit card outside of their home area, U.S. Bank marked these charges as fraudulent and locked the card from further use.

Many card users were happy with the long intro APR period and the low APR they received after that. Not all customers got a low APR though, and said they wouldn’t be using the card anymore because of that.

How to apply for the U.S. Bank Visa® Platinum Card

  1. Go to the U.S. Bank website and find the U.S. Bank Visa® Platinum Card from the list of cards, then click Apply now.
  2. Complete the application form with your personal information.
  3. Review and submit your application.

How long will it take to get my U.S. Bank Visa® Platinum Card?

Automated preapproval means you’ll likely get a decision within a minute. If additional information is needed, U.S. Bank will send you a response within a few business days to a few weeks.

Once approved, expect your card to arrive in the mail within seven to 10 business days.

I got the card. Now what?

  • Download the U.S. Bank mobile app. Through the app, you can monitor your account, pay your bills and contact customer support. If you also bank with U.S. Bank, you can use the app to deposit checks, send money, find an ATM and more.
  • Avoid interest. You have a grace period between 24 and 30 days. If you pay your balance on time, you won’t pay interest on your purchases.
  • Avoid fees. For late payments, you’ll pay up to $38. Returned payments cost up to $35. Balance transfers and cash advances also come with fees.
  • Contact customer service. Call U.S. Bank at 1-800-872-2657 with any questions you may have, or contact them online or through the U.S. Bank mobile app.

Bottom line

If you have a great credit history and you usually carry your balance — or if you want to make a balance transfer from another non-U.S. Bank account — this could be an ideal card for you. And after your intro period ends, you may get a low APR.

Even if your credit history isn’t perfect, you can still make use of the long intro APR period and may be able to improve your credit score in the process.

If you’re not sure this is the right card for you, check out other cashback or balance transfer credit cards and compare your options to find the best one for your unique situation.

Frequently asked questions

Images: USBank.com

Kliment Dukovski

Kliment Dukovski is a writer who specializes in global financial markets and personal finance, with a focus on credit cards. His main goal is to deliver honest and accurate information to help you make the right financial decision. When he's not writing about finance-related subjects, he writes sci-fi stories.

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2 Responses

  1. Default Gravatar
    JoyJuly 5, 2018

    Is there a transfer fee?

    • finder Customer Care
      nikkiangcoJuly 10, 2018Staff

      Hi Joy!

      Thanks for contacting finder.

      There is a balance transfer fee for this card, however, there is a condition of either 3% of the balance transfer amount of each transfer or $5 minimum, whichever is greater.

      Hope this helps!

      Regards,
      Nikki

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