Advertiser Disclosure

U.S. Bank Platinum Goes Long: 20 Months at 0%

Balance Transfer Credit Cards, Credit Cards, Promos
U.S. Bank Platinum Goes Long: 20 Months at 0%
At NerdWallet, we adhere to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from our partners. Here’s how we make money.

The U.S. Bank Visa® Platinum Card has been a solid balance-transfer credit card for a while. But with U.S. Bank lengthening the introductory interest-free period on the card, it now has to be considered one of the best in the 0% game.

New cardholders get an annual percentage rate of 0% for 20 months on purchases and balance transfers, and then the ongoing APR of 11.49% - 23.49% Variable APR. That’s the longest 0% period for both purchases and balance transfers of any card from a major issuer. Previously, the 0% period on this card was 18 months.

The U.S. Bank Visa® Platinum Card charges a balance-transfer fee of 3% of the amount transferred or $5, whichever is greater. A few cards offer an introductory transfer fee of $0, but their interest-free periods are usually several months shorter. Like most balance-transfer cards, the U.S. Bank Visa® Platinum Card doesn’t give you rewards, although it does offer up to $600 protection on your cell phone against covered theft and damage when you pay your bill with the card. (The protection comes with a $25 deductible.)

With the 3% fee and the new 0% period, the U.S. Bank Visa® Platinum Card comes close to the terms that the Citi Simplicity® Card - No Late Fees Ever offered in its heyday. The Citi card once boasted a 21-month 0% period and a 3% transfer fee; in January 2018, it dialed back the 0% period to 18 months and boosted the transfer fee to 5% (minimum $5).

You need excellent credit to qualify for the U.S. Bank Visa® Platinum Card, which puts it out of reach for some. But if you’ve got the credit and you’re looking for a nice, long 0% period to pay down debt or finance a major purchase, it might just be your new best buddy.

About the author