All information about the U.S. Bank Visa® Platinum Card has been collected independently by CardCritics™
U.S. Bank Visa® Platinum Card Review
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Written by
Josephine Nesbit
Note: The U.S. Bank Visa® Platinum Card is no longer accepting applications. Read our guide to the best low-interest credit cards for more options.
One of the standout features of the U.S. Bank Visa® Platinum Card is its longer-than-average introductory period. Cardholders can enjoy 0% Intro APR for 21 billing cycles on purchases and balance transfers, then 17.74% – 28.74% (Variable).
Purchase and Balance Transfer APR
0% Intro APR for 21 billing cycles on purchases and balance transfers, then 17.74% – 28.74% (Variable)
Recommended Credit Score
Good/Excellent Credit
670 – 850*
Balance Transfer Fee
Either 5% of the amount of each transfer or $5 minimum, whichever is greater.
Intro Bonus
N/A
Annual Fee
None
Rewards
N/A
CardCritics™ Opinion
The U.S. Bank Visa® Platinum Card is a good option for those who want to make a big purchase or pay off existing debt with no interest. But if you’re looking to maximize credit card rewards, this might not be the card for you.
Our Critical Analysis:
U.S. Bank Visa® Platinum Card
- No annual fee
- Long Intro APR period on purchases and balance transfers
- Up to $600 in cell phone protection
PROS
- No rewards
- No bonus offer
- 5 % balance transfer fee
CONS
Long Intro APR
The Visa Platinum Card comes with a lengthy 0% Intro APR for 21 billing cycles on purchases and balance transfers. This means you can save money on interest if you plan to make a large purchase or pay off existing debt, but the benefits don’t extend much further than that. After the introductory APR period is over the APR is 17.74% – 28.74% (Variable).
You will be charged a 5% balance transfer fee which is on the high end of what cards typically charge. If this is a dealbreaker then you can check out the Citi Simplicity® Card which offers a lower introductory balance transfer fee.
Additional Benefits
You also get up to a $600 reimbursement if your cell phone is lost or damaged, but only when you pay your monthly cell phone bill with your Visa Platinum Card.
U.S. Bank does give cardholders access to additional tools. You can:
- Set up auto-pay
- Pick a payment due date that works with your schedule
- View your credit score anytime
Important Fees to Consider
Although there’s no annual fee to worry about, there are other costs to consider. Cash advances don’t qualify for the introductory APR and have a higher rate than purchases.
There’s also a 5% cash advance, cash equivalent and convenience check fee. Balance transfers also have a 5% fee of each transfer amount, and if you plan to bring your credit card abroad, there’s a 3% foreign transaction fee on purchases and ATM advance transactions in foreign currencies.
What Makes the Visa Platinum Card Stand Out
If your goal is to save money on interest, the Visa Platinum Card stands out. This card’s main feature is its Intro APR for 21 billing cycles, which gives you extra time to pay off large purchases and balance transfers with no interest. You can strategically use this credit card to pay off debt faster while saving money on interest.
Is It the Right Card For You?
The Visa Platinum Card may be the right fit for you if any of the following apply:
- You don’t want to pay an annual fee.
- You want more time to pay off debt and avoid interest.
- You want to save money on interest.
- You aren’t concerned about earning rewards.
Card Details From U.S. Bank
- 0% Intro APR on purchases and balance transfers for 21 billing cycles. After that, a variable APR currently 18.24% – 29.24%.
- Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your U.S. Bank Visa® Platinum Credit Card. Certain terms, conditions, and exclusions apply.
- Choose a payment due date that fits your schedule.
- No Annual Fee
- Terms and conditions apply.
Frequently Asked Questions
Here are the answers to the most frequently asked questions about the U.S. Bank Visa® Platinum Card.
Is the Visa Platinum Card a good card?
The Visa Platinum Card is a good choice if you’re looking to take advantage of a long introductory APR promotion. New cardholders can enjoy a 0% Intro APR for 21 billing cycles on purchases and balance transfers, then 17.74% – 28.74% (Variable). However, this card isn’t recommended if you also want to earn rewards on your purchases.
What is the credit limit on a Visa Platinum Card?
The credit limit on your Visa Platinum Card depends on your income, existing debts, credit history and creditworthiness. You can find your credit limit using online banking, within the U.S. Bank mobile app or on your billing statement in the “Activity Summary” section.
Is the Visa Platinum Card worth it?
The card may be worth it if your goal is to pay off debt and avoid interest. This card offers cardholders 21 billing cycles with an introductory APR promotion, which is generally longer than other credit cards. The Visa Platinum Card may not be worth it if you also want to earn rewards on purchases.
What credit score do you need for a Visa Platinum Card?
The credit score you need for a Visa Platinum Card ranges between the good and excellent range. Based on FICO credit scores, the minimum “good” credit score is considered to be 670. U.S. Bank also states that credit card products are for those with established credit.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
*CardCritics™ references a FICO® 8 score, which is one of many different types of credit scores. A financial institution may use a different score when evaluating your application.
