In This Review..
The U.S. Bank Visa® Platinum Card is for people who are looking to either finance a major purchase or pay off a debt interest-free. It is one of the best credit card options in the market for a one-time buy. The card does not charge an annual fee .
The main benefit of the U.S. Bank Visa® Platinum Card is its long 0% intro APR – 20 billing cycles on purchases and balance transfers, then 18.74% – 29.74% (Variable). This can be a great option if you’re planning a big purchase or need to carry a balance for a while. If you're transferring a large balance from another card, this card could help you avoid high interest charges during the intro period.
However, the Visa® Platinum Card doesn't offer any rewards or appealing sign up bonus. So, if you don't use the long o% intro – you may prefer to look for another card instead.
Rewards Plan
Sign up Bonus
0% Intro
PROS
- 0% APR Introductory Rate
- No Annual Fee
CONS
- No Rewards
- Balance Transfer Fee
APR
18.74% - 29.74% (Variable)
Annual Fee
$0
Balance Transfer Fee
$5 or 3% (the greater)
Credit Requirements
Good - Excellent
Card & Issuer Reputation
- 3.8/5 on
Benefits
Let’s take a look at the benefits of the U.S. Bank Visa Platinum card and see if it’s the right one for your wallet or not.
- Cell Phone Protection
U.S. Bank Visa Platinum cardholders that pay their cell phone bills with the card can enjoy up to $600 protection per incident, and up to $1,200 a year.
This is nice because you can forgo cell phone insurance if you pay with your U.S. Bank Visa Platinum card. There is a $25 deductible.
- Free Credit Score
Every month U.S. Bank Visa Platinum card will update your credit score online through Transunion. You can always stay up to date on your credit score and monitor any large changes.
- Pick Your Due Date
U.S. Bank Visa Platinum card allows cardholders to pick their due date. You can pick the time of the month that is best for you to pay the bill. >
- Protection
U.S. Bank Visa Platinum card monitors your credit card and alerts you to suspicious activity or fraud. The card also has auto rental collision damage waiver and emergency support if needed.
- No Annual Fee
U.S. Bank Visa Platinum card does not have an annual fee.
- 0% APR Intro on Balance Transfers and Purchases
If you are looking to save money on interest, the U.S. Bank Visa Platinum card offers a 0% introductory rate for 20 billing cycles on purchases and balance transfers. Then, 18.74% – 29.74% (Variable). This is one of the longest introductory rates in the market.
If you have a credit card that you are trying to pay down, you can transfer the account and pay no interest on the transfer for .
You can also charge up the card and pay no interest for on your purchases. This is great if you have a big purchase in mind and want to pay over time.
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Drawbacks
Here are the most important cons you should consider before apply:
- No Sign-Up Bonuses
Many credit cards, including store cards, offer some kind of sign-up bonus. This can be the extra motivation that many need to jump into getting the card.
Currently the U.S. Bank Visa Platinum card does not offer a sign-up bonus.
- No Rewards
Many cards on the market offer rewards for spending, such as cashback rewards, points, or travel rewards. The U.S. Bank Visa Platinum card does not offer any rewards.
- 2%-3% Foreign Transaction Fee
The U.S. Bank Visa Platinum card has a foreign transaction fee of 3%. You definitely want to avoid this fee. If traveling, leave this card at a home for one that does not have a fee.
- Balance Transfer Fee
To take advantage of the 0% intro APR on balance transfers, there’s a balance transfer fee. This fee applies when you move debt from one or more credit cards to your U.S. Bank Visa Platinum card.
The fee is either $5 or 3% (the greater). It’s charged upfront and will be added to your balance when you complete the transfer.
How To Apply For U.S. Bank Visa Platinum – help you to pay down debt Card?
- 1.
Visit the U.S Bank Visa Platinum homepage and click on “Apply Now.”
- 2.
Fill in your personal details on the next page and click “Next.”
- 3.
Now, fill in your street address, city, zip code, and click “Next.”
- 4.
After, choose your birth date, SSN, etc. Indicate your employment status and annual income.
- 5.
Next, read through the Terms and conditions and click “Submit”.
Is the U.S. Bank Visa Platinum Card Right for You?
U.S. Bank Visa Platinum card really has one purpose in the market and that is to help potential customers pay down their debt.
U.S. Bank Visa Platinum card offers one of the longest introductory rates on the market, 20 billing cycles. This card would be best for customers who have run up other credit cards or are looking to make large purchases and pay over time.
For everyday spending and uses, many customers will find that other cards offering rewards and cash back will be a better value. Many of the cards on the market that offer rewards and cash back also have very competitive introductory rates.
Compare The Alternatives
Several other credit cards offer similar and even more benefits in terms of cash back rewards, low fees, and lengthy 0% intro APR periods.
Let’s look at them next and see if one is better suited for you than the U.S. Bank Platinum card:
|
|
| |
|---|---|---|---|
Wells Fargo Active Cash℠ Card | Chase Freedom Unlimited® | Bank of America® Customized Cash Rewards credit card | |
Annual Fee | $0
| $0
| $0
|
Rewards |
2%
2% cash rewards on purchases (unlimited)
|
1.5% – 5%
5% cash back on travel booked through Chase Ultimate Rewards, 3% on dining (including takeout and eligible delivery), 3% on drugstore purchases, and 1.5% on all other purchases
|
1% – 5%
3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings, 2% cash back at grocery stores and wholesale clubs and 1% cash back on all other purchases. The 3% and 2% cash back available on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter (then 1%)
|
Welcome bonus |
$200
$200 cash rewards bonus when you spend $500 in purchases in the first 3 months
|
$250
Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
|
$200
$200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening
|
Foreign Transaction Fee | 3%
| 3%
| 3%
|
Purchase APR | 19.49% – 29.49% Variable APR
| 19.99 – 28.74% variable
| 18.74% – 28.74% Variable APR on purchases and balance transfers
|
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