U.S. Bank Business Platinum Card Review [2024]: Best for Balance Transfers?

CREDIT CARDS - BUSINESS CREDIT CARDS
The U.S. Bank Business Platinum Card has intro APR offers and a $0 annual fee, but no welcome bonus or rewards program.
Updated Jan. 22, 2024
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The U.S. Bank Business Platinum Card makes sense if you want a long introductory APR offer for balance transfers or purchases. And the $0 annual fee means there’s no yearly cost to hang onto this card.

But you won’t find a sign-up bonus, and you can’t earn rewards with the U.S. Bank Business Platinum. So another credit card offer that has an intro APR offer and provides rewards might make more sense, depending on your business finance goals and what you’re looking for.

Let’s explore our U.S. Bank Business Platinum Card review to see how this card works and whether it makes sense for you.

In this U.S. Bank Business Platinum Card review:

Who should get the U.S. Bank Business Platinum Card?

The U.S. Bank Business Platinum Card makes sense if you’re a small business owner who wants to take advantage of long intro APR periods. This could be for a balance transfer, upcoming large purchases, or both.

You also don’t have to worry about an annual cost with a $0 annual fee, plus you get benefits such as purchase and extended warranty coverage to help protect eligible purchases.

But keep in mind that the U.S. Bank Business Platinum doesn’t provide a welcome bonus to new cardholders and doesn’t earn any rewards. So if you’re after earning cash back, points, or miles, there are credit cards available, including other U.S. Bank credit card offers, that might be a better fit.

Card basics

Card type Business/Balance transfer
Credit card issuer U.S. Bank
Credit card network Visa
Annual fee $0
Intro bonus 0% Intro APR on purchases and balance transfers (made within 30 days from account opening) for 18 billing cycles. After that, a variable APR currently 17.24% to 26.24%.
Recommended credit score Excellent, Good
Intro APR 0% intro APR for 18 billing cycles on balance transfers (then 17.24% to 26.24% (Variable))

0% intro APR for 18 billing cycles on purchases (then 17.24% to 26.24% (Variable))

Foreign transaction fee 3%

U.S. Bank Business Platinum Card benefits and perks

  • $0 annual fee: Avoid a yearly cost with a $0 annual fee.
  • Introductory APR offer on balance transfers: 0% intro APR for 18 billing cycles on balance transfers (then 17.24% to 26.24% (Variable)). Balance transfers must be made within 30 days of your account opening.
  • Introductory APR offer on purchases: 0% intro APR for 18 billing cycles on purchases (then 17.24% to 26.24% (Variable)).
  • Free employee cards: Add cards for employees at no additional cost.
  • U.S. Bank ExtendPay: Make monthly payments toward large purchases using the U.S. Bank ExtendPay program. You don’t have to pay any interest charges on these payments, but there’s a fixed monthly fee.
  • Visa benefits: Take advantage of Visa card benefits, including an auto rental collision damage waiver, purchase security, extended warranty protection, and travel and emergency assistance services.

Drawbacks to the U.S. Bank Business Platinum Card

  • No welcome bonus: There’s typically no welcome bonus for new cardholders on the U.S. Bank Business Platinum Card.
  • No rewards: This card doesn’t offer rewards of any kind, including cash back, points, or miles. Check out some of the best business credit cards for business cards that have rewards programs.
  • Foreign transaction fees: You have to pay 3% per transaction in foreign transaction fees, so this isn’t the best card for travel. Learn more about the best business credit cards for travel.

U.S. Bank Business Platinum Card FAQs

What credit score do you need for a U.S. Bank Business Platinum Card?

You typically need a good or excellent credit score to qualify for a U.S. Bank Business Platinum Card. A good credit score is at least a 670 on the FICO scoring model. An excellent score is 800 or higher. But remember that having a certain credit score is only a guideline and not a guarantee of approval.

How hard is it to get a U.S. Bank Business Platinum Card?

It could be difficult to get a U.S. Bank Business Platinum Card, depending on your credit score. You typically need a good or excellent credit score to qualify. But keep in mind that different card issuers, including U.S. Bank, American Express, and Chase, often consider your credit score and other factors when determining creditworthiness, even for a business card.

Is the U.S. Bank Business Platinum Card a good credit card?

The U.S. Bank Business Platinum Card is an excellent option if you’re a small business owner who wants a $0-annual-fee credit card that provides introductory APR offers on balance transfers and purchases. This includes 0% intro APR for 18 billing cycles on balance transfers (then 17.24% to 26.24% (Variable)).

How much does a U.S. Bank Business Platinum card cost?

The U.S. Bank Business Platinum Card has a $0 annual fee and doesn’t charge a fee for employee cards. Some of its fees include:

  • Foreign transaction fee: 3%
  • Balance transfer fee: $5 or 3%, whichever is greater
  • Cash advance fee: $10 or 5%, whichever is greater

Other cards to consider

The U.S. Bank Business Platinum Card might not be the right fit for you. If that’s the case, compare credit cards to find a card that makes more sense. Here are two of our recommendations:

The U.S. Bank Business Triple Cash Rewards World Elite Mastercard® has a $0 annual fee and provides 0% intro APR for 15 billing cycles on balance transfers (then 19.24% to 28.24% (Variable)). But different from the U.S. Bank Business Platinum Card, you can also earn a valuable welcome bonus and cashback rewards on all your eligible purchases, which you can redeem through the U.S. Bank Rewards Center.

Learn more in our U.S. Bank Business Triple Cash Rewards review.

The Wells Fargo Business Platinum Credit Card has a $0 annual fee and provides 0% intro APR for 9 months on qualifying balance transfers (then 20.74% + prime rate). You can also earn 1.5% cash rewards per dollar spent, or earn 1 point per dollar spent and receive 1,000 bonus points each month you spend more than $1,000.

Check out our Wells Fargo Business Platinum review.

Author Details

Ben Walker, CEPF, CFEI® Ben Walker, CEPF, CFEI®, is a Senior Credit Cards Writer at FinanceBuzz. For over a decade, he's leveraged credit card points and miles to travel the world. His expertise extends to other areas of personal finance — including loans, insurance, investing, and real estate — and you can find his insights on The Washington Post, Debt.com, Yahoo! Finance, and Fox Business.

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