The 0% balance transfers are good only if you use one transfer per year. Case in point. I used a 0% balance transfer in 10/17. I planned on paying that off by 10/18. However, I used another transfer check in June, 2017. When I started paying extra beyond the minimum due to deplete the earlier balance, the extra payment actually goes to the latest balance transfer. So unless I pay off the newest transfer in 4 months, and the old one as well, in October the first balance transfer will go up to 15%. The more recent one which we be paid off in 4 months will now equal a 12% annual interest since I already paid 4% for the priveledge of the transfer. Two other banks that I used 0% transfers with actually apply additional principal toward the oldest transfer balance first. BIG SCAM and shame on US Bank. That part of the repayment plan is not shown on the paperwork that they send with the balance transfer checks.
I opened a secured US Bank card over three years to rebuild credit from a score in the low 500's. Their terms were the best I could find at the time for such a card, which is why I give them two stars instead of one. I gave a secured balance of $600 and have never carried a balance. I also monitored when they report to credit bureaus to make sure I paying the card down before the reporting date (for US Bank it is different than the closing date). Within a month Capital One sent me a preapproved offer for a card with a $1,000 limit. I proceeded to take the same strategy with Capital One.
Capital One allows you to apply for credit limit increases every six months without making a hard inquiry on your credit files. After six months they doubled my credit limit and offered to upgrade my card to a Quicksilver account with 1.5% cash back. Fast forward to today, and that Capital One card has a limit of $18,500 (though I should note I have large income and charge and pay a lot to that card, so my limit may not be the case for everyone). I appreciated their commitment to me and recognition of my efforts and progress with my credit scores, which are now in mid 700s.
US Bank, to its credit, made my card unsecured when I requested it after 1.5 years. However, despite the representative repeatedly reassuring me that they would not make a hard inquiry to make my cared unsecured, they did. When I voiced displeasure with this, they could have cared less and told me I could "try" to dispute it. I totally did not appreciate a card built for people rebuilding their credit lying about hard inquiries which have an impact on credit scores... and really hated their callousness about their misinformation and refusal to remove the inquiry themselves.
Today, I have credit lines on cards exceeding $45,000. I have been offered unsolicted credit line increases by American Express sometimes as often as within two months (and obviously without hard inquiries). American Express even gave me a Platinum Card without a hard inquiry. US Bank HOWEVER refuses to increase my credit limit of $600 without me allowing them to make a hard inquiry, which I refuse to do. I keep the card only because it is my oldest card, and really dispise giving them continued business.
Making things worse, after three years of having the US Bank card, I needed to dispute and request a stop on a repeating charge from a merchant who continued to charge despite my calling to cancel the service several times. US Bank refused to stop repeated charges. For the dispute the charges that already took place, I needed to fill out paper work. It would arrive at my house within two days and need to be filled out and FAXED back to them within another three days. I was away on business travel, so the dispute was cancelled. The paperwork includes such ridiculous requirements as signed statements from similar merchants as the one in question stating that I was correct for my dispute. I called to complain and US Bank said they would process the dispute again (though I still need to negotiate their ridiculous paper work). Meantime, I asked them again to refuse further charges from the merchant, and they again refused. I got creative and told them I lost the card while on the phone and needed a new card with a new number to be issued. Hopefully that works.
By contrast, in the rare case I have had to process a dispute with Capital One it was seamless with no paperwork and faxes. American Express obvious is the leader in defending their customers.
I literally hate US Bank and decided to write this. I also wish to urge anyone crazy enough to consider their new premium Bank Altitude Reserve Visa Infinite Card with a $400 fee to seriously reconsider. This company simply does not care about their customers. All of the negative reviews here guide that I am not the only one with major reservations about US Bank. Go with the Chase Resrve or Platinum AMEX. If you are considering a US Bank secured card and the terms are still better than the rest, go for it, but realize that in the long run you will be better off with Capital One.