U.S. Bank Visa Platinum Review: Not Taking New Applications
The Bottom Line
4.5
This card can buy you time to pay off a large purchase, and it's not a bad balance transfer option either.
Rates, fees and offers
Rates, fees and offers
Annual fee
$0
Rewards rate
N/A
Bonus offer
None
Intro APR
0% intro APR for 18 billing cycles on purchases and balance transfers
Ongoing APR
APR: 17.74%-28.74% Variable APR
Cash Advance APR: 31.24%, Variable
Balance transfer fee
An introductory fee of either 3% of the amount of each transfer or $5 minimum, whichever is greater, for balances transferred within 60 days of account opening. After that, either 5% of the amount of each transfer or $5 minimum, whichever is greater.
Foreign transaction fee
3% of each foreign transaction
More details from U.S. Bank
More details from U.S. Bank
- 0% Intro APR on purchases and balance transfers for 18 billing cycles. After that, a variable APR currently 17.74% - 28.74%.
- 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.
- Choose a payment due date that fits your schedule.
- No Annual Fee
- Terms and conditions apply.
Pros and Cons
Pros
No annual fee
Intro APR period
Cell phone insurance
Cons
No rewards
Requires good/excellent credit
No bonus offer
Detailed Review
» The U.S. Bank Visa® Platinum Card is no longer open to new applicants
On March 17, 2025, U.S. Bank launched a new 0% intro APR product — the U.S. Bank Shield™ Visa® Card — and simultaneously closed applications for the older U.S. Bank Visa® Platinum Card. Existing holders of the Visa Platinum will be unaffected, according to a bank spokesperson.
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If you're looking to finance a major purchase, the U.S. Bank Visa® Platinum Card could be a good choice.
That’s because the card charges an annual fee of $0, yet it offers a long 0% introductory interest rate on purchases, as well as a good interest-free period on balances you transfer from elsewhere.
You won't earn rewards with the U.S. Bank Visa® Platinum Card. But it comes with cell phone insurance, a minor perk.
U.S. Bank Visa® Platinum Card: Basics
Card type: 0% APR and balance transfer.
APR offer: 0% intro APR for 18 billing cycles on purchases and balance transfers, and then the ongoing APR of 17.74%-28.74% Variable APR.
Annual fee: $0.
Sign-up bonus / rewards: None.
Balance transfer fee: An introductory fee of either 3% of the amount of each transfer or $5 minimum, whichever is greater, for balances transferred within 60 days of account opening. After that, either 5% of the amount of each transfer or $5 minimum, whichever is greater.
Compare to Other Cards
Benefits and Perks
Lengthy 0% APR promotion on purchases
This is the defining feature of the card. If you’re facing a large expense you can’t pay right away, the extra-long interest-free period allows you to pay over time without piling on finance charges.
Balance transfer period
The card also offers a pretty long interest-free period for balances you transfer to it. But keep the balance transfer fee in mind.
Annual fee of $0
Once you use the introductory interest-free period to pay your balance, the card won’t cost you anything to keep — although, it might eventually be relegated for use as a backup card.
Cell phone insurance
The is one of a growing number of cards that come with cell phone insurance. If you pay your cell phone bill every month with this card, you'll get coverage for damage or theft up to $600, with a $25 deductible, for up to two claims for a total of $1,200 per 12-month period. This covers your phone and additional lines on the account. However, the insurance is “secondary,” meaning it kicks in only after any other phone insurance you have.
Drawbacks and Considerations
Other cards offer longer 0% periods
At one point, the U.S. Bank Visa® Platinum Card had the longest 0% intro APR period available from a major issuer. It offered 20 months at 0% for both purchases and transfers, which made it a three-time NerdWallet award winner. The card has scaled that benefit back a bit, and while its 0% period is still solid, other cards go longer.
Consider the Wells Fargo Reflect® Card. You'll get a 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers, and then the ongoing APR of 17.24%, 23.74%, or 28.99% Variable APR.
No rewards
If you want a card that's ideal for everyday spending, the U.S. Bank Visa® Platinum Card is not for you. There are no rewards for spending with this card. If debt is not an issue for you and you pay your bills in full and on time every month, consider moving on to another card that offers you more benefits. Like the Wells Fargo Active Cash® Card, which has a solid introductory APR period, includes a bonus offer for new cardholders, and gives you 2% cash back on all purchases.
No sign-up bonus
New cardholders get no bonus, which is disappointing since some competing cards with almost-as-long 0% APR periods include bonuses as high as $200.
Foreign transaction fee
Forget about travel perks with this card. And it’s a poor choice for using abroad because of its 3% fee on foreign transactions.
How To Decide If It's Right For You
If you're looking for a card that offers a generous amount of time to pay down a new purchase, the U.S. Bank Visa® Platinum Card could be a fit. While the card won't cost you anything to keep, even after you've said sayonara to the balance, you might find yourself graduating to a different card for the long term.
To see other potential options, visit NerdWallet's roundup of best credit card offers.
Earn a high flat rate on all your spending. Plus, get an intro 0% intro APR on balance transfers for 18 months, and then the ongoing APR of 18.24%-28.24% Variable APR and an annual fee of $0.
Looking For Something Else?
Methodology
NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.
Frequently asked questions
What credit score do you need for U.S. Bank Platinum?
What credit score do you need for U.S. Bank Platinum?
You’ll need at least good credit to qualify for the U.S. Bank Visa® Platinum Card. Generally speaking, “good credit” is defined as a score of at least 690. But a credit score alone isn’t enough to qualify for any credit card. Issuers take into account your income, existing debts and other information.
Does the U.S. Bank Platinum charge interest?
Does the U.S. Bank Platinum charge interest?
The U.S. Bank Visa® Platinum Card has an a introductory 0% interest offer for new cardholders: 0% intro APR for 18 billing cycles on purchases and balance transfers, and then the ongoing APR of 17.74%-28.74% Variable APR. The balance-transfer fee is 3% or $5 minimum, whichever is greater.
Does the U.S. Bank Platinum have an annual fee?
Does the U.S. Bank Platinum have an annual fee?
The annual fee on the U.S. Bank Visa® Platinum Card is $0.
What are the rewards on the U.S. Bank Platinum card?
What are the rewards on the U.S. Bank Platinum card?
You won't earn rewards with the U.S. Bank Visa® Platinum Card. But it comes with cell phone insurance, a minor perk.
Does the U.S. Bank Platinum have a sign-up bonus?
Does the U.S. Bank Platinum have a sign-up bonus?
No. New cardholders get no bonus. Some competing cards with almost-as-long 0% APR periods include at least a modest bonus.
Is U.S. Bank Platinum a Visa or Mastercard?
Is U.S. Bank Platinum a Visa or Mastercard?
This is a Visa card.
About the authors
Gregory Karp
Senior Writer
