U.S. Bank Visa Platinum Review: Lengthy 0% Period Makes It Worthy
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
Our Take
5.0
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.
Full Review
on US Bank's website
Quick FactsView rates and fees
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 – 18 month BT offer
Earn a high flat rate on all your spending. Plus, get an intro and an annual fee of .
Compare to Other Cards
Annual fee$0 | Annual fee$0 | Annual fee$0 |
Regular APR14.49%-24.49% Variable APR | Regular APR15.24%-23.99% Variable APR | |
Intro APR0% intro APR for 20 billing cycles on purchases and balance transfers | Intro APR0% Intro APR for 21 months on Balance Transfers and 12 months on Purchases | Intro APR0% intro APR for 15 months on purchases and balance transfers |
Recommended Credit Score |
Recommended Credit Score |
Recommended Credit Score |
Get more smart money moves — straight to your inbox
Become a NerdWallet member, and we’ll send you tailored articles we think you’ll love.
Full Review
If you're looking to finance a major purchase, the 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 , 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 . But it comes with cell phone insurance, a minor perk.
: Basics
Card type: 0% APR/low-interest.
APR offer: .
Annual fee: .
Balance transfer fee: 3% or $5 minimum, whichever is greater.
: 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 . 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.
: Pitfalls and other possibilities
No rewards. If you want a card that's ideal for everyday spending, the 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 , 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 right for you?
If you're looking for a card that offers a generous amount of time to pay down a new purchase, the 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 . 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 has an a introductory 0% interest offer for new cardholders: . The balance-transfer fee is 3% or $5 minimum, whichever is greater.
The annual fee on the is .
You won't earn rewards with the . 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.
