U.S. Bank Visa® Platinum Card review: A handy back-up plan

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In a Nutshell

The U.S. Bank Visa® Platinum Card has a super-long intro APR for both purchases and balance transfers, making this a great card for paying off debt or for dealing with big purchases or unforeseen expenses when you don’t have the cash on hand.

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If you’re anticipating a large purchase, or another big expense comes up, it might be good to have the U.S. Bank Visa® Platinum Card in your wallet.

In the world of balance transfer credit cards, the U.S. Bank Visa® Platinum Card might not be considered the best, but it certainly has a couple of features that stand out. Here’s our take.


  1. The rundown: Everything we like about the U.S. Bank Visa® Platinum Card
  2. Heads up: What you should consider before applying for the U.S. Bank Visa® Platinum Card
  3. Do the math: How to get the most out of the U.S. Bank Visa® Platinum Card
  4. The competition: How the U.S. Bank Visa® Platinum Card stacks up against similar cards
  5. Bottom line: Is the U.S. Bank Visa® Platinum Card right for you?
What we like Heads up
APR
  • Intro 0% APR for balance transfers and purchases for the first 20 billing cycles your account is open, then a variable APR of 11.74% – 23.74% on both
  • To qualify for the intro APR for balance transfers, transfers must be completed within 60 days from account opening
Fees
  • $0 annual fee

 

  • Balance transfer fee of 3% (minimum $5)

 

Rewards
  • No rewards or sign-up bonus

The rundown: Everything we like about the U.S. Bank Visa® Platinum Card

The U.S. Bank Visa® Platinum Card doesn’t come with a ton of perks, but the long intro APR on balance transfers could be helpful if you’re looking to pay off your credit card debt or consolidate balances.

And it’s got an equally long intro APR for purchases, which makes it a good option if there’s a high unexpected bill or big purchase you don’t have the cash on hand for.

For either option, just make sure you plan to pay off the balance in full before the intro APR period ends. That way you’ll get the full benefits.

Read more: Credit Karma Guide to 0% APR on Credit Cards

Heads up: What you should consider before applying for the U.S. Bank Visa® Platinum Card

If you transfer a balance to this U.S. Bank card, you’ll pay a balance transfer fee of 3% or $5, whichever is greater. But you can find balance transfer cards out there that will waive the fee if you do the transfer within a certain amount of time.

For example, Chase Slate® has an intro balance transfer fee of $0 for balances that you transfer in the first 60 days your account is open. After those 60 days, it goes up to 5% (minimum $5).

Also, the U.S. Bank Visa® Platinum Card doesn’t come with a sign-up bonus, rewards program or cash back features that you can find with other credit cards.

Do the math: How to get the most out of the U.S. Bank Visa® Platinum Card

To get the most out of the U.S. Bank Visa® Platinum Card as a balance transfer card, you need to transfer any balances within 60 days of your account opening.

You should also be aware of the promotional APR terms, so that you don’t miss out on the main offer. When the intro APR period ends, you’ll be charged interest again on any remaining balances, whether they’re from a transfer or new purchases on the card. The new variable rate will also apply to any new or future purchases and balances transferred.

The competition: How the U.S. Bank Visa® Platinum Card stacks up

Citi Simplicity® Card

The Citi Simplicity® Card offers an introductory 0% APR on balance transfers for the first 21 months from the date of the first transfer — which is a little less time than what the U.S. Bank Visa® Platinum Card offers but, again, a slightly more flexible time frame before the variable 15.99% - 25.99% APR kicks in. There’s also a balance transfer fee of 5% (minimum $5). Also like its fellow Citi® card, the Citi Simplicity® Card gives you four months from opening your account to make balance transfers that will qualify for the intro APR — twice as long as what the U.S. Bank card offers.

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Citi Simplicity® Card

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Bottom line: Is the  U.S. Bank Visa® Platinum Card right for you?

If you need a balance transfer card to consolidate and pay off debt more quickly, the U.S. Bank Visa® Platinum Card isn’t your only option — and some of those other cards out there have more-comprehensive offers for balance transfers. But if you need a no-interest period to help pay off a large purchase or unforeseen expense, the long introductory rate on this card may be exactly what you need.

Still, other than the lengthy intro period, nothing else about this card is exceptional. You can check out our favorite balance transfer cards to find more offers.


Editorial Note: Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors' opinions. Our marketing partners don’t review, approve or endorse our editorial content. It’s accurate to the best of our knowledge when it’s posted.