U.S. Bank Visa Platinum Card

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Good for its intro APR offer, but this is a plain vanilla card otherwise.

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The U.S. Bank Visa Platinum Card has two features that might make a fit for some: a 0% APR offer on purchases and balance transfers for 18 billing cycles and no penalty APR for late or missed payments. This could make the card a good fit for someone who typically carries a balance and may occasionally have an issue making a payment on time.

Review

Although the 0% APR offer on purchases and balance transfers for 18 billing cycles is a nice perk, is it enough to warrant getting this card? Maybe not. What makes the U.S. Bank Visa Platinum Card’s interest-free offer less attractive is the 3% balance transfer fee tacked on to it. There are several other cards that will let you transfer a balance interest-free without a transfer fee, like the Chase Slate and Barclaycard Ring Mastercard.

The U.S. Bank Visa Platinum Card is not a card you should get solely for the introductory 0% APR offer, but for the complete package of what it has versus cards with a similar profile. For example, you may find that its lack of an annual fee and the $600 worth of cell phone insurance you get (less a $25 deductible) if you pay the bill using this card might make this more appealing than others in its class.

Who should get this card

Someone who is interested in a 0% interest offer for purchases and balance transfers, a no annual fee card and cell phone insurance may find this card appealing.

Advantages
  • There’s a lengthy introductory 0% APR offer on purchases and balance transfers.
  • This card offers cell phone insurance, a feature not found in most other cards.
Disadvantages
  • The balance transfer fee of 3% can eat away at your savings.
  • You need excellent credit to apply for this card, which may not be attainable for some.

Fees and APR

  • Enjoy an introductory 0% APR offer for the first 18 billing cycles on purchases and balance transfers made within the first 60 days. After that, a variable APR of 10.99% to 22.99% will apply based on creditworthiness.
  • Balance transfer fee is $5 or 3% of the amount transferred, whichever is higher.
  • Pay no annual fee.
  • Foreign purchases made in U.S. dollars will be assessed a 2% transaction fee. Purchases made using foreign currencies will be assessed a 3% transaction fee.
  • Late payments won’t affect your APR but you may be charged a fee of up to $38.

Extras, perks and using points

Get up to $600 cell phone insurance against covered damage or theft when you pay the monthly bill using the U.S. Bank Platinum card.

There are no points or rewards with this card.

How this card compares

Barclaycard Ring™ Mastercard®

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Card Details
  • 0% Introductory APR for the first 15 months on purchases. Plus, you'll get a 0% introductory APR for 15 months on Balance Transfers made within 45 days of account opening. After that, a variable APR will apply, 13.99%
  • No balance transfer fees
  • No foreign transaction fees
  • Chip technology, so paying for your purchases is more secure at chip-card terminals in the U.S. and abroad
  • Free online access to FICO® Credit Score
Credit Needed Excellent
Regular APR 13.99% Variable
Annual Fee $0
Purchase Intro APR 0% for 15 months
Balance Transfers Intro APR 0% for 15 months (on balance transfers made within 45 days of account opening)

The Barclaycard Ring Mastercard is a top pick for balance transfer cards due to its long introductory period and its lack of fees. There are no balance transfer fees, no annual fees and no late fees.

Card Details
  • $0 Introductory balance transfer fee for transfers made during the first 60 days of account opening
  • 0% Introductory APR for 15 months on purchases and balance transfers
  • Monthly FICO® Score and Credit Dashboard for free
  • No Penalty APR - Paying late won't raise your interest rate (APR). All other account pricing and terms apply
  • $0 Annual Fee
Credit Needed Excellent
Regular APR 15.99% - 24.74% Variable
Annual Fee $0
Purchase Intro APR 0% for 15 months
Balance Transfers Intro APR 0% for 15 months

If you can make your balance transfer within the first 60 days of opening a Chase Slate account, you can shift your debt to this card for free, which could help you save money and ultimately pay off your bill faster.

Citi® Diamond Preferred® Card
Card Details
  • Get 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the variable APR will be 13.99% - 23.99% based upon your creditworthiness*
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer
  • Citi® Price Rewind searches for lower prices online for 60 days for your registered purchases: you can get back up to $500 per item and $2,500 a year*
  • $0 liability on unauthorized purchases and Citi® Identity Theft Solutions
  • No annual fee*
  • Free access to FICO® Scores*
Credit Needed Good
Regular APR 13.99% - 23.99%* (Variable)
Annual Fee $0*
Purchase Intro APR 0%* for 21 months*
Balance Transfers Intro APR 0%* for 21 months*

Citi Diamond Preferred gives you 21 interest-free months to pay off purchases and balance transfers. That’s the longest 0% introductory period available today.

Citi Simplicity® Card
Card Details
  • The Only card with No Late Fees, No Penalty Rate, and No Annual Fee...Ever
  • 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the variable APR will be 14.99% - 24.99% based on your creditworthiness*
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater
  • The same great rate for all balances, after the introductory period
  • Save time when you call with fast, personal help, 24 hours a day - just say "representative"
  • Enjoy the convenience of setting up your own bill payment schedule on any available due date throughout the month
Credit Needed Excellent
Regular APR 14.99% - 24.99% (Variable)
Annual Fee $0*
Purchase Intro APR 0%* for 21 months*
Balance Transfers Intro APR 0%* for 21 months*

If you have a great deal of credit card debt, you have a choice to make when it comes to balance transfer credit cards: Pick the one that on the surface offers the cheapest way to get out of debt, or pick the one that gives you the longest 0% APR introductory period possible.

The Citi Simplicity Card falls into this second group.

EDITORIAL NOTE

Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.