The Smart Investor has collected card information independently. Issuers did not provide the details, nor are they responsible for their accuracy. The review is not a recommendation, the actual rates/fees may be different.
The U.S. Bank Visa Platinum is a Visa credit card issued through one of the largest US lending institutions, U.S. Bank. U.S. Bank is over 50 years old with a long history of providing financial products, including credit cards. The U.S. Bank Visa Platinum card is a bank issued credit card with one of the longest introductory 0.00% rates in the market. The U.S. Bank Visa Platinum card also offers some of the lowest interest rates on the market. It is a Visa card and is widely accepted.
U.S. Bank Visa Platinum Card
On US Bank’s Secure Website
Great If You Need To Pay Down Debt
0% APR Introductory Rate
No Annual Fee
Balance Transfer Fee
Here’s a summary of the main pros & cons (click to see explanation or scroll down):
|0% APR Introductory Rate on Balance Transfers and Purchases in the First 18 Months||No Sign-Up Bonuses|
|No Annual Fee||No Rewards|
|Pick Your Due Date||2%-3% Foreign Transaction Fee|
|Cell Phone Protection||Balance Transfer Fee|
|Free Credit Score||Interest Rate|
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.
0% APR Introductory Rate on Balance Transfers and Purchases in the First 18 Months
If you are looking to save money on interest, the U.S. Bank Visa Platinum card offers a 0% introductory rate for 18 months on balance transfers and purchses. 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 18 months. You can also charge up the card and pay no interest for 18 months on your purchases. This is great if you have a big purchase in mind and want to pay over time. U.S. Bank Visa Platinum card offers one of the longest introductory rates in the market.
No Annual Fee
U.S. Bank Visa Platinum card does not have an annual fee.
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.
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.
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. >
Here are the most important cons you should consider before apply to the U.S. Bank Visa Platinum card:
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.
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 2-3%. 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
There is a balance transfer fee required if you want to take advantage of the introductory 0% APR rate. The fee is incurred when you transfer debts from one or more credit cards to your U.S. Bank Visa Platinum card. This fee is $5 or 3% of the transfer, whichever is bigger. The fee is upfront and will be added to your debt load when transferred.
The APR for the U.S. Bank Visa Platinum is a 14.74% to 25.74% variable rate. This card has a wide range on the base interest rate and the high end is up there with most credit card offerings. You need to have good to excellent credit in order to be approved.
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, 18 months. 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. The U.S. Bank Visa Platinum card has a 3% balance transfer fee, which is the market average. This fee it directly added to the balance that you transfer to the card. There are other available cards on the market that don’t have a balance transfer fee and have competitive introductory rates that potential customers may want to look into.