The U.S. Bank Visa Platinum Card’s introductory 0% APR is a rewarding perk for those who are planning a large purchase or need to transfer balances from high-rate cards. Whether you need to buy new furniture, book a family vacation, or consolidate several payments into a single one—no matter which you choose, you’ll pay no interest charges for 18 months. After your intro period, you’ll receive 15.49% to 25.49% APR. Unless you have the best credit, you’ll pay higher than the national average of 14.87% as of November 2019. Noticeably absent from this card is any kind of rewards structure—as a cardholder, you won’t earn cash back, miles, or points.
U.S. Bank Visa Platinum Card OverviewRewards Rate: N/A Sign Up Bonus: N/A Annual Fee: $0 APR: 15.49% to 25.49% variable (0% intro APR for 18 months)
- Balance Transfer Fee: 3% or $5 (whichever is greater)
- Foreign Transaction Fee: 2% to 3%
- Cell phone protection: Up to $600 reimbursement on cell phone damage or theft if you use the card to pay your cell phone bill
- Free credit score: Access to your TransUnion credit score when you enroll in online banking
- 0% intro APR: Enjoy 0% APR on purchases for the first 18 billing cycles
- No annual fee: Save money each year with no annual fee
- Digital payments: Compatible with digital payment options like Apple Pay, Google Pay, and Samsung Pay
- No rewards: No extra benefits for your spending—no rewards, points, or cash back
- No sign-up bonus: No bonus when you become a cardholder
- Extra fees: Balance transfer and foreign transaction fees apply
Who Should Get U.S. Bank Visa Platinum Card?Best for: The U.S. Bank Visa Platinum Card is best for those who either have big purchases planned or need to consolidate their debt. The 0% intro APR allows cardholders to save on interest for up to 18 billing cycles, which could equate to a significant amount, depending on how much they spend or how much they transfer from high-rate cards. Not for: Those who like to receive rewards for their spending. The U.S. Bank Visa Platinum credit card doesn’t offer any cash back, miles, points, or rewards of any kind. It also may not be the right card for you if you usually have a monthly balance, as the APR could be as high as 25.49%.
Introductory 0% APR
For your first 18 billing cycles, you’ll enjoy an introductory APR of 0%. Use your U.S. Bank Visa Platinum Card in an emergency, to pay for everyday expenses, or to make big purchases, and you won’t pay a penny in interest charges for 18 months. The offer also extends to balance transfers, so you can consolidate your debt from high-rate cards and loans to save money on finance charges.
Free cell phone protection
If you use your U.S. Bank Visa Platinum Card to pay your mobile phone bill, you’ll enjoy cell phone insurance at no cost. With this benefit, you have protection for up to two incidents per year. The extra perk pays out the value of your phone, up to $600, including a $25 deductible.
Free TransUnion credit score access
Monitor your credit at no cost with free access to your TransUnion VantageScore credit score. To keep tabs on your credit, you need to enroll in online banking. In addition to your score, you’ll have the opportunity to sign up for credit alerts and run through credit scenarios with the Score Simulator.
No cash back, points, or other rewards
Unlike many credit cards, the U.S. Bank Visa Platinum Card offers its cardholders no rewards. If you were hoping to bank miles, earn cash back, or rack up points from your everyday spending, you’ll have to look elsewhere.
Depending on your creditworthiness, you may pay up to 24.99% APR with the U.S. Bank Visa Platinum Card. If you need to use the card for a cash advance, the rate on those particular transactions is automatically set at the max of 25.49%, no matter what your credit score is, but the cash advance APR can vary depending on the market’s prime rate.
*All information accurate as of Feb. 14, 2020.
U.S. Bank Visa Platinum Card Compared to Chase Slate
The U.S. Bank Visa Platinum Card and Chase Slate Card offer similar benefits. While neither offers rewards or a sign-up bonus, both cards extend a 0% intro APR. The U.S. Bank Visa Platinum credit card gives you this special rate for 18 months, whereas the Chase Slate credit card only offers it for 15 months. After your introductory pricing, you’ll pay similar financing rates with either card, with 15.49% to 25.49% APR using the U.S. Bank Visa Platinum Card and 16.49% to 25.24% using the Chase Slate Card.
You’ll also enjoy free access to your credit score with both cards, but the U.S. Bank card presents even greater value by including free cell phone protection.
The Bottom Line
With a 0% introductory APR and free access to your TransUnion credit score, the U.S. Bank Visa Platinum Card could be the perfect credit card if you need help taking control of your finances. You pay no interest charges on purchases or balance transfer for 18 months, and you have unlimited access to your credit score so you can make sure you stay on track. However, steer clear if you have your eyes set on earning cash back or other rewards. After the introductory period, this card doesn’t offer any other kind of financial bonus.