U.S. Bank Visa® Platinum Card review
Find out if the U.S. Bank Visa® Platinum Card is right for you with this in-depth review. Get info on the features, benefits, and drawbacks so you can make the best decision for your finances.
U.S. Bank Visa® Platinum Card: Get the best 0% intro APR card for your needs!
In this U.S. Bank Visa® Platinum Card review, we’ll look over this card’s features, pros, and cons.
Balance transfer credit cards can be a great way to save money on interest payments and get out of debt faster.
The Visa® Platinum Card from U.S. Bank is a great option because it offers a 0% introductory APR for the first 20 months and no annual fee.
- Credit Score: The recommended score for new applicants is a minimum of 700.
- APR: 0% for 20 billing cycles. After that, it’s a variable between 16.74% and 26.74%.
- Annual Fee: Cardholders don’t have to pay an annual fee to own this card.
- Fees: 3% balance transfer fee, 5% cash advance fee, 3% foreign transaction fee.
- Welcome bonus: There is no current offer.
- Rewards: Currently, there are no rewards on purchases.
While it doesn’t have any rewards on purchases, you can make the most of it by purchasing big ticket items or consolidating your debt. Keep reading our U.S. Bank Visa® Platinum Card review to learn more about this card.
U.S. Bank Visa® Platinum Card: how does it work?
Issued by U.S. Bank, the Visa® Platinum Card offers all cardholders a lengthy introductory period of 0% APR.
By becoming a card member, you’ll get zero interest on balance transfers and purchases for 20 billing cycles. After that period, it varies between 16.74% and 26.74%, depending on your overall creditworthiness.
There’s no annual fee for this card, which means it can help you consolidate your debt and pay down your balance faster without charging you for membership.
However, balance transfers are not free, and you’ll have to pay a 3% fee each time you do so.
The 0% APR on purchases can be quite helpful if you have a good spending limit and plan on purchasing expensive items.
The Visa® Platinum Card is part of U.S. Bank’s ExtendPay™ Plan, which allows you to pay your purchases in equal installments each month with no interest. Although a small fee applies.
Even though there are no rewards on purchases, this card comes with some interesting benefits. See what they are next in our U.S. Bank Visa® Platinum Card review.
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Significant benefits and disadvantages you may find
No credit card comes without cons to counter their pros, and the U.S. Bank Visa® Platinum Card is no different.
Check below to learn the perks and drawbacks of this card. It’s step number one to learn if it aligns with your expectations and financial needs.
- The U.S. Bank Visa® Platinum Card has one of the best 0% periods on the market, with 20 billing cycles for purchases and balance transfers;
- You won’t have to worry about annual or monthly fees;
- U.S. Bank reports all account activities and payments to the three main credit bureaus;
- You can check your credit score anytime for free with their mobile app;
- You get to choose your due date for convenience;
- You’ll get cell phone protection up to $1,200 a year by paying your phone bill with this card.
- There’s no welcome bonus and no rewards on purchases with the U.S. Bank Visa® Platinum Card. Pretty uncommon for a card of this caliber;
- Even though there’s a 0% APR period, you still have to pay a fee for balance transfers;
- Taking this card abroad or making international purchases will cost you extra, since it charges a foreign transaction fee.
Is a good credit score required for applicants?
Yes. To become eligible for this card, you must have a score of 700 or higher. You can still try for approval if your score is above 650 and you have a good income and low debts.
However, since the bank performs a hard inquiry for approval, the best course of action is to improve your rating before applying.
Learn how to apply and get a U.S. Bank Visa® Platinum Card
Now that you’ve read our U.S. Bank Visa® Platinum Card review, it’s time to learn how to apply. You can do so online from your home in a couple of minutes.
To learn more about the process, follow the link below.
About the author / Aline Barbosa
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