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The U.S. Bank Visa® Platinum Card offers one of the best balance transfer offers with an introductory 0% APR for up to 18 months (after that, the variable is currently 19.74% – 29.74%). But, what other benefits does this card offer, and can you earn rewards points? This review delves into the U.S. Bank Visa Platinum perks and how to qualify for them.
The information for the U.S. Bank Visa® Platinum Card has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
What is the U.S. Bank Visa Platinum Card?
The U.S. Bank Visa Platinum® Card is a balance transfer credit card with 0% interest for 18 months on qualifying purchases and transfers (after that, the variable is currently 19.74% – 29.74%). Additionally, it doesn’t have an annual fee (See Rates and Fees). However, a balance transfer fee applies, and it doesn’t earn purchase rewards.
This card can be an excellent option if you want interest-free payment for over a year and have good or excellent credit.
As this card is a Visa Platinum product, it’s not going to have as many built-in perks as a Visa Signature or Visa Infinite offers. However, the card serves its purpose by helping cardholders improve their financing with interest-free debt payments.
0% Balance Transfer Offer
The best reason to apply for the U.S. Bank Visa Platinum is for its 0% introductory APR. You won’t pay interest on balance transfers for up to 18 months on transfers occurring during the first 60 days (after that, the variable is currently 19.74% – 29.74%). New purchases can also qualify for interest-free financing.
A one-time 3% transfer fee ($5 minimum) applies to all balance transfers during the introductory and ongoing period.
You won’t pay interest during the introductory period, but you must make the minimum monthly payment. Your remaining balance accrues interest charges after the 18-month 0% APR offer ends.
Best U.S. Bank Visa Platinum Benefits
These additional perks add extra value and provide peace of mind for your credit and personal finances.
AutoPay and Due Date Choice
You can request a specific due date which can ensure you have sufficient funds by the statement cycle due date. U.S. Bank also lets you schedule recurring payments from a linked bank account to never forget a payment.
If you enroll in autopay, our suggestion is to set it for the minimum monthly payment to keep your account in good standing. However, you should make extra payments to pay off your balance early and avoid future interest charges.
Cell Phone Protection
You can receive up to $600 in cell phone protection due to damage or theft. It’s possible to submit up to two claims per 12-month period (up to $1,200 in total benefits). Further, a $25 deductible applies to each claim.
Free Credit Score Access
U.S. Bank customers can view their credit scores for free without hurting their credit. This score is the TransUnion VantageScore which is for educational purposes only and isn’t used for credit decisions.
Still, it can track your credit progress as you pay off debt and help estimate your approval odds for the best rewards credit cards which typically require good or excellent credit.
If you need to check your credit score, here’s where to check for free without affecting your credit.
Identity Theft Monitoring
Along with tracking your credit score, you can enjoy complimentary identity monitoring with ID Navigator powered by Norton LifeLock. This service won’t prevent all identity theft, but these services are an expense that you may struggle to afford in your current situation.
Receiving instant alerts for questionable activity can help protect your credit and sensitive personal details.
U.S. Bank Platinum Visa Card Fees
Here is a rundown of the card fees you may encounter:
- Annual Fee: $0 (See Rates and Fees)
- Introductory APR: 0% for 18 months (on transfers during the first 60 days and purchases)
- Ongoing APR: 19.74% – 29.74% variable
- Balance Transfer Fee: 3% ($5 minimum) on all transfers
- Foreign Transaction Fee: 3%
- Cash Advance Fee: 5% ($10 minimum)
- U.S. Bank ExtendPay Loans: Monthly fee won’t exceed 1.6% of the original principal amount
Credit Score Needed for the U.S. Bank Visa Platinum
It’s recommended to have a good or excellent credit score from 670 to 840. Having a score above 700 is even better as you have solid credit.
Simultaneously, some data points suggest approved applications with a minimum 620 credit score. However, getting approved with fair credit is the exception to the rule, and you will likely qualify for a smaller credit limit which may not cover the entire balance amount you wish to transfer.
For total transparency, U.S. Bank doesn’t disclose a minimum credit score for this or any of its U.S. Bank Altitude credit cards.
U.S. Bank Visa Platinum Card Limit
The standard Visa Signature credit limit is at least $500 and can reach up to $25,000, depending on your creditworthiness and the issuing bank’s policies.
Most applicants report a starting limit between $2,000 and $10,000.
Pros and Cons
Here are the advantages and disadvantages of the U.S. Bank Visa Platinum Card.
- 0% APR for 18 months on qualifying transfers and purchases (after that, the variable is currently 19.49% – 29.49%)
- No annual fee
- Free credit score and identity monitoring
- Complimentary cell phone protection
- Doesn’t earn cash back or travel rewards
- 3% balance transfer fee ($5 minimum)
- Can require good or excellent credit
Who Should Apply for the U.S. Bank Visa Platinum?
Consider applying for this card when you want a 0% APR balance transfer for 18 months (after that, the variable is currently 19.74% – 29.74%). The introductory APR also applies to new purchases. While a 3% transfer fee applies, it’s significantly cheaper than keeping the balance on your current card and paying a variable APR.
The U.S. Bank Visa Platinum offers one of the best balance transfer credit cards with an impressive 18-month APR. With that said, it lacks the pizzazz of cash back credit cards that may have similar offers as the card won’t provide much ongoing value unless you want to keep it open to lengthen your credit history.
Learn more: U.S. Bank Visa® Platinum Card