U.S. Bank Visa Platinum Card
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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.
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.
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
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.
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 gives you 21 interest-free months to pay off purchases and balance transfers. That’s the longest 0% introductory period available today.
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.
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.