U.S. Bank Visa Platinum Review: Lengthy 0% Period Makes It Worthy

The card offers a generous introductory interest-free window. But if you want rewards, bonuses and other spoils, look elsewhere.

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Our Take

4.5

NerdWallet rating 
The bottom line:

This card can buy you time to pay off a large purchase, and it's not a bad balance transfer option either.

Jump to: Full Review
US Bank Visa Platinum Credit Card
Annual fee
$0
Regular APR
18.24%-28.24% Variable APR
Intro APR
0% intro APR for 18 billing cycles on purchases and balance transfers
Rec. credit score
690-850 (Good - Excellent)
Apply now

on US Bank's website

Pros & Cons

Pros

  • No annual fee

  • Intro APR period

  • Cell phone insurance

Cons

  • No rewards

  • Requires good/excellent credit

  • No bonus offer

Alternate Pick: Cash-back rewards
Citi® Double Cash Card
NerdWallet rating 
Citi® Double Cash Card
2% back on everything: 1% when you buy, 1% when you pay

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 17.74%-27.74% Variable APR and an annual fee of $0.

Read our review

Compare to Other Cards

NerdWallet rating 
NerdWallet rating 
NerdWallet rating 
Annual fee

$0

Annual fee

$0

Annual fee

$0

Regular APR

18.24%-28.24% Variable APR

Regular APR

16.74%-27.49% Variable APR

Regular APR

17.99%-26.74% Variable APR

Intro APR

0% intro APR for 18 billing cycles on purchases and balance transfers

Intro APR

0% Intro APR for 21 months on Balance Transfers and 12 months on Purchases

Intro APR

0% intro APR for 15 months on purchases and balance transfers

Recommended Credit Score
Recommended Credit Score
Recommended Credit Score
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Full Review

If you're looking to finance a major purchase, the U.S. Bank Visa® Platinum Card is one of the best options on the market for buying time until you can pay it off.

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 18.24%-28.24% Variable APR.

  • Annual fee: $0.

  • Balance transfer fee: 3% or $5 minimum, whichever is greater.

U.S. Bank Visa® Platinum Card: Benefits

Lengthy 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 note the balance transfer fee, discussed below.

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 card is one of a handful 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.

U.S. Bank Visa® Platinum Card: Pitfalls and other possibilities

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 Capital One Quicksilver Cash Rewards Credit Card, which has a solid introductory APR period, includes a bonus offer for new cardholders, and gives you 1.5% cash back on most every purchase.

No sign-up bonus. New cardholders get no bonus, which is disappointing since competing cards with almost-as-long 0% APR periods include at least a modest bonus. Some are $150, for example.

Foreign transaction fee. Forget about travel perks with this card. And it’s a poor choice for using abroad because of its fees for foreign transactions: 2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. dollars or 3% if the transaction is in a foreign currency.

Requires good credit. If you have a mountain of debt and your credit rating is hurting because of it, you might have trouble getting approved for this card.

Is the U.S. Bank Visa® Platinum Card 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.

on US Bank's website

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

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.

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 18.24%-28.24% Variable APR. The balance-transfer fee is 3% or $5 minimum, whichever is greater.

The annual fee on the U.S. Bank Visa® Platinum Card is $0.

You won't earn rewards with the U.S. Bank Visa® Platinum Card. But it comes with cell phone insurance, a minor perk.

No. New cardholders get no bonus. Some competing cards with almost-as-long 0% APR periods include at least a modest bonus.

This is a Visa card.