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.
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). In October 2018, it kept that balance transfer fee and returned to its lengthy introductory APR: 0% on Purchases for 12 months and 0% on Balance Transfers for 21 months, and then the ongoing APR of 15.99% - 25.99% Variable APR.
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.