The U.S. Bank Visa® Platinum Card has yo-yoed back to a longer interest-free period on purchases and balance transfers.
New cardholders can now get an introductory 0% APR period that lasts 20 billing cycles for purchases and balance transfers. Compared with the previous offer, that’s an extra two months to finance a large purchase or pay down debt. The balance transfer fee is unchanged: 3% of the amount transferred or $5, whichever is greater. Exact terms of the current offer: 0% on Purchases and Balance Transfers for 20 billing cycles, and then the ongoing APR of 14.49% - 25.49% Variable APR.
» UPDATE: In July 2019, the issuer once again reduced the 0% promo period to 18 months in most marketing channels, but the 20-month offer remains in effect exclusively on NerdWallet.
Over the past year, the $0-annual-fee card has flip-flopped between an 18-month and a 20-month 0% introductory APR period for purchases and balance transfers. A handful of other cards offer 18-month intro APR periods, but 20 months at 0% is among the longest offers you’ll find on the market.
The Citi Simplicity® Card - No Late Fees Ever, for example, does offer a longer intro APR period on balance transfers, but its intro period on purchases is much shorter. It features an intro APR of 0% on Purchases for 12 months and 0% on Balance Transfers for 21 months, and then the ongoing APR of 16.74% - 26.74% Variable APR.