The
U.S. Bank Visa® Platinum Card is a good 0% APR credit card for people with
good credit or better, giving new cardholders a relatively long introductory APR promotion of
0% for 18 billing cycles on new purchases and
0% for 18 billing cycles on balance transfers. U.S. Bank Visa Platinum also has a
$0 annual fee.
What the Visa Platinum Card from U.S. Bank lacks, however, is rewards and a low regular APR. Cardholders don’t earn points, miles or cash back on purchases, and the APR that kicks in after the 0% intro period could be anywhere from
17.74% to 28.74% (V), depending on your creditworthiness. U.S. Bank Visa Platinum also has a balance transfer fee of
3% intro fee ($5 min) for each transfer in first 60 days, after that 5% ($5 min) for each transfer* – another potential negative, depending on what plans you have for the card. But you can manage most of those shortcomings by paying off your balance within the card’s 0% intro period and using a separate rewards card for everyday purchases.
You can use WalletHub’s
free balance transfer calculator to see just how much the
U.S. Bank Visa® Platinum Card could help you save. And below, you can get to know the various parts of the offer a bit better in order to decide whether or not to apply for the U.S. Bank Platinum Card.
What I Like About the U.S. Bank Visa Platinum Card
No interest for a year and a half can lead to big savings
Only a bunch ofVery few credit cards offer 0% interest for as long as the U.S. Bank Visa Platinum Card. It’s far more common to see credit cards offering 0% for 12 months or just charging a high APR from the start.
The
U.S. Bank Visa® Platinum Card’s extended interest-free intro period makes it easier to escape debt without paying any (more) interest. Some people might even be able to save thousands of dollars on interest in the process. This, of course, depends on how much you owe or plan to spend and how quickly you can afford to pay it off. You can use our
credit card payoff calculator to see exactly how much this offer could save you.
$0 annual fee is $28.25 below average (in a good way)
No annual fee is standard for an elite 0% credit card, but it’s a nice part of the U.S. Bank Platinum Visa offer nonetheless.
What I Don’t Like About the U.S. Bank Visa Platinum Card
No rewards (but no big deal)
It’s rare for
credit cards with the best rates to also give the best rewards. Besides, you could always get the U.S. Bank Platinum Card for financing and use a
rewards credit card for everyday purchases that won’t lead to a balance at the end of the month. But this offer would be better if it also came with rewards on purchases.
Balance transfers are not free
The U.S. Bank Visa Platinum Card’s balance transfer fee of
3% intro fee ($5 min) for each transfer in first 60 days, after that 5% ($5 min) for each transfer* is far from ideal, but it’s still roughly
average for a 0% balance transfer card. Just make sure to take this cost into account when comparing balance transfer credit card offers.
Not built for international use
U.S. Bank Visa Platinum is not a travel rewards card, so its
3% foreign transaction fee shouldn’t be a surprise and probably won’t come into play. Just don’t forget that it applies to any purchase processed abroad, whether you’re traveling internationally or simply buying something from a foreign seller.
People with good credit or better have the highest approval odds
It might be possible to get the U.S. Bank Platinum Visa Card with a lower score, especially if you have a lot of income and relatively little debt. But we recommend that applicants have a credit score of
700 or higher. This makes sense considering how attractive the card’s financing terms are, but I’d like it a lot more if more people could get it.
Promotional financing is temporary
When the
U.S. Bank Visa® Platinum Card’s low introductory APR expires, a high interest rate will take its place. You don’t want to carry a balance from month to month once that permanent APR is in effect because interest will eat into your savings from the intro rate.
It’s also worth noting that the U.S. Bank Platinum Card’s interest-free intro period won’t always be this long. Any 0% credit card offer is subject to change. So if you’re planning a big-ticket purchase or need to do a balance transfer, you could risk missing out on a great deal by dragging your feet. The best cards are about as attractive as they’ve ever been. If you’re interested in seeing how the U.S. Bank Platinum Visa compares to other top offers, check out WalletHub’s latest picks for the
best credit card rates.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
