2021 Review: The U.S. Bank Visa Platinum Card &#8211; Best 0% APR Offer?

securely on the issuer's website

Highlights
Balance transfers
Fees

How to Transfer a Balance on a Credit Card

0% Intro APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR currently 14.49% - 24.49%.
Great offer from U.S. Bank, a 2021 World's Most Ethical Company® - Ethisphere Institute, February 2021.
No Annual Fee*
Flexibility to choose a payment due date that fits your schedule.
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.

Balance transfers

A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.

Intro Balance Transfer APR0%* intro on BTs for 20 billing cycles on balance transfers*
Regular Balance Transfer APR14.49% - 24.49%* Variable
Balance Transfer FeeEither 3% of the amount of each transfer or $5 minimum, whichever is greater

Fees

Penalty APRN/A
Late FeeUp to $40
Returned Payment FeeUp to $40
Additional Cards Annual FeeN/A
Foreign Transaction Fee2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. Dollars 3% of each foreign purchase transaction or foreign ATM advance transaction in a Foreign Currency

The U.S. Bank Visa Platinum Card is a strong contender if you’re in the market for a balance transfer credit card, or want to avoid interest charges on new purchases.

However, because there are no rewards and limited benefits, those are likely the only reasons you’d consider a card like this.

If you have a credit card balance that’s accruing interest and unnecessarily costing you money, you can move that balance to this card where it’ll accrue no interest for a set amount of time. Balance transfers are an effective way to deal with credit card debt.

The same is true for the new purchases you make with your card. If you have any large expenses planned, like a new stove or refrigerator or TV, you can put them on the U.S. Bank Visa Platinum and pay them down while they accrue no interest.

While the U.S. Bank Visa Platinum features some useful perks, like the ability to check one of your credit scores and the more uncommon cell phone protection, the main draws of the card are its introductory APR periods.

Learn what balance transfers are, how they can help, and how to use one. How to Transfer a Balance on a Credit Card: Lower Your APR, Pay Less Money

Insider Advice: Getting the Most Out of Your Card

Take advantage of the 0% intro APR periods: The introductory periods are this card’s best features. Transfer a balance over and pay it down faster because it won’t be growing from interest, or use this card for a purchase and pay it off over time. Either way, you’ll be able to save money by avoiding interest charges.
Be mindful of the balance transfer fee: You’ll be required to pay a fee for each balance you transfer. However, depending on the size of the balance and the terms, the fee might be worth it in comparison to the money you’d save by avoiding interest charges.
Protect your phone: The U.S. Bank Visa Platinum comes with cell phone insurance, meaning if your phone is damaged or stolen, you can call 1-866-894-8569 to file a claim. You’re covered by up to $600 per claim, with two claims per year, for a total of $1,200. You’ll need to pay for your cell phone bill with your card to qualify.
Keep an eye on your credit: Check your VantageScore credit score, based on your TransUnion credit report, using U.S. Bank’s free tool. That way you’ll know if you’re making all the appropriate payments and managing your accounts well.
Consider pairing with another card: Because this card doesn’t offer any rewards, it wouldn’t be a bad idea to pair it with a general rewards card. If you’re planning to use it for a balance transfer or a large purchase, you won’t want to increase the balance with more purchases if you’re working to pay it down.

The Benefits

There are few benefits attached to the U.S. Bank Visa Platinum card, however, there might be a few more than what we have listed below. Because it’s a Visa Platinum, cardholders will likely get a selection of Visa Platinum benefits, like shopping and travel protections.

Free credit score: See your VantageScore credit score based on your TransUnion credit report.
Cell phone protection: If your phone is damaged or stolen, you can file a claim to have it repaired or replaced. Call 1-866-894-8569 to file a claim. $600 per claim, two claims per year, for a total of $1,200.

The Terms & Fees

Purchase APR	Balance Transfer APR	Cash Advance APR
0% for 20 billing cycles on purchases, then 14.49% - 24.49%* Variable	0% for 20 billing cycles on balance transfers, then 14.49% - 24.49% Variable	25.99%

Annual Fee	Foreign Transaction Fee
$0*	2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. Dollars 3% of each foreign purchase transaction or foreign ATM advance transaction in a Foreign Currency

Balance Transfer Fee	Cash Advance Fee
Either 3% of the amount of each transfer or $5 minimum, whichever is greater	None

Penalty APR	Late Fee	Returned Payment Fee
None	Up to $40	Up to $40

As stated above, the best features of the U.S. Bank Visa Platinum Card are its long intro periods for balance transfers and purchases. It’s very important that you make all of your monthly payments on time, or you could risk losing these promotional APRs.

The other aspect here to be aware of is the balance transfer fee. That means you’ll be required to pay an amount of each transfer you plan to make. So if the balance transfer fee is 3%, and you’re moving over a balance of $2,000, your fee would be $60. But depending on the interest rates involved, that fee could pale in comparison to the money you’d have to pay from interest charges if you didn’t move the balance over.

Insider tip

There are cards that feature no balance transfer fee and offer 0% APR periods that might be more beneficial to you, although the interest-free periods tend to be shorter.

The Bottom Line

The U.S. Bank Visa® Platinum Card is a strong contender if you need to take advantage of a balance transfer or want to avoid paying interest on a new purchase.

By taking advantage of a balance transfer, or using this card for any large purchases, whether they be appliances or vacations or anything else, you can save yourself a lot of money by avoiding interest charges on your balance. That means you’d have less debt to worry about with more time to pay it off, and more money to spend in other aspects of your life.

But because there aren’t any rewards and few benefits, there’s really little other reason to get a card like this. If you do get it, it’d be a good idea to pair it with another card that does feature rewards. Especially if you need to move a balance over, because you won’t want to add any new purchases to a balance you’re trying to pay down.

How Do I Apply for the U.S. Bank Visa Platinum Card?

Follow the link below to be taken to the credit card issuer’s website. From there you can apply, securely, with all the necessary information. You should hear back pretty quickly whether you’ve been approved or denied.

What Credit Scores Do I Need for the U.S. Bank Visa Platinum Card?

It’s recommended that you have good credit before applying for this card.

To be considered good credit, your credit scores would typically need to be at least 670 for FICO or 700 for VantageScore.

However, there are other factors that go into the decision. The card issuer will take into account your annual income, monthly rent or mortgage payment, and more when figuring out your creditworthiness. This additional information could lead to your approval even if your scores are lower than those ranges.

But that also means even if your scores are higher, you could still be denied.

Qualifications and Requirements

Must be 18 to apply
Personal information: Name, date of birth, Social Security number, country of citizenship
Address and contact information: Email, phone number, address, housing status (rent or own)
Financial information: Monthly rent or mortgage payment, employment status, total annual income, source of income

U.S. Bank Visa® Platinum Card

Our rating:

securely on the issuer's website

Highlights
Balance transfers
Fees

How to Transfer a Balance on a Credit Card

0% Intro APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR currently 14.49% - 24.49%.
Great offer from U.S. Bank, a 2021 World's Most Ethical Company® - Ethisphere Institute, February 2021.
No Annual Fee*
Flexibility to choose a payment due date that fits your schedule.
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.

Balance transfers

A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.

Intro Balance Transfer APR0%* intro on BTs for 20 billing cycles on balance transfers*
Regular Balance Transfer APR14.49% - 24.49%* Variable
Balance Transfer FeeEither 3% of the amount of each transfer or $5 minimum, whichever is greater

Fees

Penalty APRN/A
Late FeeUp to $40
Returned Payment FeeUp to $40
Additional Cards Annual FeeN/A
Foreign Transaction Fee2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. Dollars 3% of each foreign purchase transaction or foreign ATM advance transaction in a Foreign Currency

Frequently Asked Questions

What is the U.S. Bank Visa Platinum’s credit limit?

It’s hard to say for sure because your credit limit will depend on several factors. These include your income, your credit scores, your credit history, and more. However, if you get a credit limit you don’t like, you can request an increase.

Does the U.S. Bank Visa Platinum Card charge a balance transfer fee?

Yes, the U.S. Bank Visa Platinum Card has a fee of:

Either 3% of the amount of each transfer or $5 minimum, whichever is greater

You can check out all of the terms & fees right here.

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Alternatives to the U.S. Bank Visa Platinum Card

Citi^® Double Cash Card - 18 month BT offer

Our rating:

securely on the issuer's website

Highlights
Why We Picked It
Rewards
Key Features

Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
To earn cash back, pay at least the minimum due on time.
Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.99% – 23.99%, based on your creditworthiness.
Balance Transfers do not earn cash back.
If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
The standard variable APR for Citi Flex Plan is 13.99% – 23.99% based on your creditworthiness. Citi Flex Plan offers are made available at Citi’s discretion.

The Citi^® Double Cash Card – 18 month BT offer (Review) is a cash rewards credit card with a surprisingly long 0% intro APR for balance transfers.

The Double Cash card offers a long 18 months on Balance Transfers for it’s balance transfer period (and then your rate switches to 13.99% – 23.99% (Variable)), though slightly shorter than the U.S. Bank card’s offer.

The other main differences are that the Double Cash features a rewards program and has no intro 0% APR for purchases.

The U.S. Bank Visa Platinum is probably the better choice for a balance transfer card, considering it gives you more time to pay it down. And if you need to make any new purchases, you could do so and have them accrue no interest.

However, the Double Cash would be a good card to pair with the U.S. Bank Visa Platinum. You can pay your balance down at no interest with the U.S. Bank card and use the Double Cash to pay for any new purchases and earn rewards for them. You could even avoid interest with its grace period, as long as you’re paying your bill in full each month (which you should always be doing, unless you have a 0% rate).

Spending Rewards
2% cash back for every purchase (must pay at least the minimum due on time): 1% back when you make a purchase 1% back when you pay for that purchase

Free FICO credit score: See your Equifax-based FICO Bankcard Score 8 on statements, online, and by mobile app.
Citi Concierge: Get restaurant suggestions, reservations, travel arrangements, shopping research, and more.
Citi Entertainment: Get preferred access and pre-sale tickets to events and experiences, from music to movies.
Purchase APR: 13.99% – 23.99% (Variable)
Balance Transfer APR: 0% for 18 months on Balance Transfers, then 13.99% – 23.99% (Variable)
Balance Transfer fee: Balance transfer fee applies with this offer 3% of each balance transfer; $5 minimum
Annual fee: $0

Citi is a Credit Card Insider advertiser.

U.S. Bank Cash+™ Visa Signature® Card

Our rating:

securely on the issuer's website

Highlights
Why We Picked It
Rewards
Key Features

Earn up to $550 cash back in the first year.
$200 bonus after spending $1,000 in eligible net purchases within the first 120 days of account opening.
5% cash back on your first $2,000 in combined eligible net purchases ($100 per quarter) on two categories you choose. That adds up to $400 cash back!
2% cash back on your choice of one everyday category, like gas stations or grocery stores.
1% cash back on all other eligible net purchases.
No limit on total cash back earned.
0% Intro APR* on balance transfers for 12 billing cycles. After that, a variable APR currently 13.99% – 23.99%
No annual fee*
Great Offer from U.S. Bank, a 2020 World’s Most Ethical Company® – Ethisphere Institute, February 2020

The U.S. Bank Cash+™ Visa Signature® Card (Review) features both an intro 0% APR balance transfer offer and a rewards program.

The 0% APR period is shorter than what the U.S. Bank Visa Platinum Card offers, but you’ll gain a pretty flexible rewards program. And while there isn’t a 0% rate for purchases, there is a grace period (like most cards). Meaning as long as you’re paying your statement balance in full each month, the purchases you make won’t accrue any interest.

Uniquely, you can choose two 5% cash back categories (on your first $2,000 in combined net purchases each quarter, then 1%) and one 2% “everyday” category each quarter. The 5% categories cover things like streaming services and gym memberships, and the 2% categories cover expenses like gas and groceries.

Despite being shorter, the balance transfer offer could still be used to avoid interest charges, provided you can pay off the balance in time. And unlike the U.S. Bank Platinum card, you’d earn rewards for your purchases.

Or you could always use them together. While the Visa Platinum card is taken up by a transferred balance, use the Cash+ Visa Signature to make purchases and earn rewards.

Spending Rewards
5% cash back on your choice of two bonus categories (up to $2,000 in combined net purchases per quarter)
2% cash back on your choice of one everyday category: Gas Groceries Restaurants
1% cash back on everything else

Introductory Bonus
$200 cash bonus for spending $1,000 in the first 120 days after account opening

You can pick from any two of these:

5% Cash Back Categories
TV, Internet, Streaming Services	Cell Phone Providers	Department Stores
Electronics Stores	Fast Food	Furniture Stores
Gyms/Fitness Centers	Ground Transportation	Home Utilities
Movie Theaters	Select Clothing Stores	Sporting Goods Stores

And one of these:

2% Cash Back Categories
Gas Stations	Grocery Stores	Restaurants

Free credit score: See your VantageScore 3.0 based on your TransUnion credit report.
Visa Signature Concierge: Call for personal assistance with travel bookings, dining reservations, business services, and more.
Visa Signature Luxury Hotel Collection: Get perks at select hotels like a $25 food and beverage credit and room upgrades when available.
Travel protections: Travel accident insurance, lost luggage reimbursement, and roadside dispatch
Shopping protection: Purchase security
Balance Transfer APR: 0% for 12 billing cycles on Balance Transfers*, then 13.99% - 23.99%* Variable
Balance Transfer fee: 3%
Annual fee: $0*

Wells Fargo Platinum card

Our rating:

How To Apply

Why We Picked It
Key Features

The Wells Fargo Platinum card (Learn More) (Review) is pretty close to the U.S. Bank Visa Platinum Card, however the intro 0% APR periods are slightly shorter.

Like the U.S. Bank card, there aren’t any rewards to be earned here, so the main focuses are the two 0% intro APR periods for purchases and balance transfers. You won’t accrue interest for 18 months from account opening for both purchases and balance transfers, then the rate will jump to 16.49%-24.49% Variable and 16.49%-24.49% Variable, respectively.

If you have outstanding debt with U.S. Bank, you typically won’t be able to transfer it to a U.S. Bank card. That means if you need a balance transfer, you’d need a card from a different issuer, like Wells Fargo for instance.

However, the balance transfer fee for the Wells Fargo card is:

3% intro for 120 days from account opening, then up to 5%; min: $5

Other than that, these two cards have very similar benefits, so the choice will likely come down to if you have outstanding debt with U.S. Bank and how much time you’d like for your intro 0% APR periods.

Free FICO credit score: See your FICO Score 9, based on your Experian credit report.
Travel protections: Rental car insurance, travel accident insurance, roadside dispatch, and travel and emergency assistance services
Cell phone protection: Get insured for up to $600 in damages or theft when you pay your monthly phone bill with the card; subject to a $25 deductible.
Purchase and Balance Transfer APR: 0% for 18 months from account opening, then 16.49%-24.49% Variable
Balance transfer fee: 3% intro for 120 days from account opening, then up to 5%; min: $5
Annual fee: $0

Wells Fargo Active Cash Card

Our rating:

securely on the issuer's website

Highlights
Why We Picked It
Rewards
Key Features

Unlimited 2% cash back rewards on all purchases
$200 cash rewards bonus after spending $1,000 in the first 3 months
0% intro purchase and balance transfer APR for 15 months, then 14.99%, 19.99%, or 24.99% Variable.
Cellular Telephone Protection
Roadside Dispatch
Visa Concierge service
Visa Luxury Hotel Collection
3% foreign transaction fee
No annual fee

The Wells Fargo Active Cash Card (Review) offers a flat cash back rate in addition to intro APR periods for both purchases and balance transfers.

While the intro periods are shorter than what the U.S. Bank card features, you will earn rewards for your purchases. So if you think you’ll be able to pay your balance off within the given 0% APR periods, this card would help you avoid interest charges and be more rewarding.

The benefits are better than what the U.S. Bank card offers, as well.

Spending Rewards
2% cash back on all purchases

Introductory Bonus
$200 cash rewards bonus after spending $1,000 in the first 3 months

Free FICO credit score: Check your FICO Score 9 online whenever you’d like, based on your Experian credit report.
Visa Signature Concierge: Get 24/7 assistance with non-emergency tasks like travel planning, restaurant reservations, and gift hunting.
Visa Signature Luxury Hotel Collection: Pay with your card to get perks at select hotels around the world, like a $25 food/beverage credit, complimentary WiFi and breakfast for two, automatic room upgrades when available, VIP Guest status, and more.
Cellular Telephone Protection: Provides reimbursement for damage or theft of cell phones, up to $600 per claim and two claims per 12 month period, with a $25 deductible. You must pay your phone bill with the card to be eligible.
Roadside Dispatch: Call 1-800-847-2869 if you need help on the road, with some services at set prices like towing, tire changing, jump starting, and lockout service.
Travel and Emergency Assistance Services: Includes help with medical and legal referrals, emergency transportation, ticket replacement, lost luggage location, emergency translation, and more.
Purchase APR: 0% for 15 months, then 14.99%, 19.99%, or 24.99% Variable
Balance Transfer APR: 0% for 15 months, then 14.99%, 19.99%, or 24.99% Variable
Balance Transfer fee: 3% for 120 days from account opening, then up to 5%; min: $5
Annual fee: $0

U.S. Bank Visa® Platinum Card

Our rating:

securely on the issuer's website

Highlights
Balance transfers
Fees