U.S. Bank Visa Platinum Card Review [2021]: Lengthy Intro APR, But Limited Perks

The U.S. Bank Visa Platinum Card comes with an impressive intro APR offer, but is it worth it?
Last updated May 12, 2021 | By Kevin Payne

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With an intro APR period that extends 20 months, you’ll be hard-pressed to find many credit cards that compete with this U.S. Bank Visa Platinum Card offer. It’s one of the longest 0% intro APR offers available on the market today.

Balance transfer credit cards like this one allow you to pay off debt without worrying about interest charges. There’s also a $0 annual fee attached to this U.S. Bank card, which means you could enjoy the full value of this card’s benefits at no cost.

Keep reading to learn more about the U.S. Bank Visa Platinum Card to determine whether it’s the right card for you.

0% introductory APR

U.S. Bank Visa Platinum Card

U.S. Bank Visa Platinum Card

U.S. Bank Visa Platinum Card

Benefits

  • 0% intro APR on purchases and balance transfers
  • Cell phone protection
  • No annual fee

Drawbacks

  • No rewards program
  • Balance transfer fee applies

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

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

The U.S. Bank Visa Platinum Card is best for individuals who have large purchases planned or existing credit card debt they want to transfer and pay off over an extended time. Whether you have a big upcoming home improvement project, want to book travel, or upgrade your home electronics, cardholders have access to 0% introductory annual percentage rate for 20 months on new purchases. After that, the interest rate increases to the regular variable APR.

Balance transfers also come with a 0% intro APR for 20 billing cycles, but they must be posted to your account within 60 days of account opening. Keep in mind that there’s still a balance transfer fee of $5 or 3%, whichever is greater, and you’ll have to pay on any balance transferred. So a balance transfer of $4,000 would yield a $120 balance transfer fee.

Although the U.S. Bank Visa Platinum Card offers tons of value on new purchases and transfers, it’s not the card to pursue if you want to earn bonus rewards for your credit card spending. It’s not part of a loyalty rewards program and doesn’t offer many perks beyond the introductory APR offer. Other 0% APR credit cards may provide opportunities to earn rewards on top of freedom from interest charges.

Card basics

Card type 0% APR
Credit card issuer U.S. Bank
Credit card network Visa
Annual fee $0
Recommended credit score Excellent, Good
Intro APR 0% introductory APR for 20 months on new purchases

0% intro APR for 20 billing cycles on balance transfers

Foreign transaction fee 2% to 3%

U.S. Bank Visa Platinum Card benefits and perks

  • Intro APR offer: Cardholders enjoy a 0% introductory APR for 20 months on new purchases and a 0% intro APR for 20 billing cycles on balance transfers. Balance transfers must be transferred within 60 days of card opening.
  • No annual fee: You’ll keep your money in your pocket with the U.S. Bank Visa Platinum Card because it has a $0 annual fee.
  • Cell phone protection: Use your U.S. Bank card to pay your cell phone bill, and you’re covered up to $600 against theft and damage. There’s a two claim limit per 12-month period with a $1,200 maximum. The deductible is $25 for this cell phone insurance per claim.
  • Free credit score access: Cardholders have access to free VantageScore credit scores through TransUnion’s CreditView. You can also set up alerts and use the credit score simulator at no cost.
  • Fraud protection: The Platinum Card could protect you against fraudulent credit card activity. U.S. Bank monitors usage and notifies you of any unusual activity.

Drawbacks to the U.S. Bank Visa Platinum Card

  • Balance transfer fee: Although you won't pay interest on balance transfers during the introductory period, there is a fee of $5 or 3%, whichever is greater.
  • Foreign transaction fees: The U.S. Bank Visa Platinum Card is not ideal for international travel because purchases made outside the U.S. carry a fee up to 2% to 3%, depending on the currency.
  • Not a rewards credit card: This card is strictly a 0% APR card because it comes with no welcome bonus and doesn’t earn any travel or cashback rewards.

U.S. Bank Visa Platinum Card FAQs

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

The U.S Bank Visa Platinum Card could be a great option if you plan to use it to fund large purchases or transfer existing credit card debt and pay it off over time. The card comes with one of the longest 0% intro APR offers on the market. However, it’s probably not the best option if you’re looking for added perks like travel or cashback rewards.

What credit score do you need for the U.S. Bank Visa Platinum Card?

To qualify for the U.S. Bank Visa Platinum Card, it’s likely you will need an excellent credit score. An excellent credit score is a FICO score of 800 or above. On the VantageScore model, an excellent score is any score above 780.

Does U.S. Bank automatically increase your credit limit?

As with other card issuers, U.S. Bank might review your account from time to time and potentially issue a credit limit increase. You can also request a credit limit increase as long as you meet specific qualifications. All requests are subject to review by U.S. Bank, and whether your request is approved will likely depend on your creditworthiness and other factors. Requests are made through your online account or U.S. Bank’s mobile app.

Does the U.S. Bank Visa Platinum Card have an annual fee?

The U.S. Bank Visa Platinum Card does not have an annual fee.

Is the U.S. Bank Visa Platinum Card accepted everywhere?

As a Visa card, the U.S. Bank Visa Platinum Card is accepted at locations almost anywhere in the world.

Other cards to consider

If you’re unsure about the U.S. Bank Visa card, another credit card to consider is the Citi Diamond Preferred. The benefits and drawbacks closely resemble the U.S. Bank card. The Citi Diamond Preferred offers a 0% intro APR on new purchases for 18 months and a 0% intro APR on balance transfers for 18 months. It does offer one perk you won’t find with the Platinum card, though. Diamond Preferred cardholders can enjoy Citi Entertainment, a program that gives special access to exclusive events and experiences, and presale tickets for concerts, sporting events, and more.

The Citi Double Cash may also be a contender. It comes with a 0% intro APR on balance transfers for 18 months. But it offers something missing from the U.S. Bank card — an opportunity to earn cashback rewards. With Citi Double Cash, cardholders earn up to 2% cash back on all purchases: 1% as you buy and 1% as you pay.

0% introductory APR

U.S. Bank Visa Platinum Card

U.S. Bank Visa Platinum Card

U.S. Bank Visa Platinum Card

Special Offer

0% introductory APR on purchases and balance transfers for 20 months

See how these cards compare:

Citi Diamond Preferred
Citi Diamond Preferred
  • 0% intro APR on purchases and balance transfers for 18 months
  • No annual fee
  • Free access to your FICO® Score
Citi Double Cash Card
Citi Double Cash Card
  • 0% intro APR on balance transfers for 18 months
  • 2% cash back on all purchases - 1% when you buy and 1% when you pay
  • No annual fee

Author Details

Kevin Payne Kevin Payne is a freelance writer specializing in student loans, credit cards, personal finance, and travel. He is a regular contributor to Club Thrifty, Millennial Money, and Student Loan Planner. As the budget and family travel expert behind FamilyMoneyAdventure.com, Kevin recently turned his writing side hustle into his full-time career. He lives in Cleveland, Ohio, with his wife and four kids.