U.S. Bank Visa Platinum Benefits Guide

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Key takeaways

  • The U.S. Bank Visa® Platinum Card offers an attractive 0 percent introductory APR for 21 billing cycles on both balance transfers and new purchases.
  • This card also offers cellphone protection benefits but does not come with a rewards program.
  • To fully maximize the benefits of this card, consider pairing it with another card for regular purchases while using the introductory APR offer to pay off existing debt.

The U.S. Bank Visa® Platinum Card* is a compelling option if you’re looking for a balance transfer card. It offers an exceptionally lengthy 0 percent introductory APR: 21 billing cycles on balance transfers (when completed in the first 60 days) and on new purchases (variable APR 17.74 percent to 28.74 percent thereafter). That makes it a worthwhile addition to your wallet if you’re looking to pay down debt while avoiding interest. Plus, you won’t have to worry about an annual fee, which saves you money in the long run.

However, while the U.S. Bank Visa Platinum card does come with a strong 0 percent introductory offer, it falls short compared to other top balance transfer cards with its lack of a rewards program or welcome offer. Keep this in mind when deciding whether this card is right for you.

U.S. Bank Visa Platinum intro APR benefits

While the U.S. Bank Visa Platinum Card doesn’t have as long a list of benefits as some other cards, its 0 percent intro APR is remarkable. A long intro period of 21 months makes it a valuable choice for paying off high-interest debt.

Zero percent intro APR on balance transfers

The 0 percent intro APR offer on balance transfers is easily the strongest benefit associated with the U.S. Bank Visa Platinum Card. For a long 21 billing cycles, you’ll enjoy a 0 percent intro APR on balance transfers made within the first 60 days of opening the card. After, the ongoing variable APR is 17.74 percent to 28.74 percent, which is slightly below average, according to current interest rates.

If you’re looking to pay down debt over an extended period of time while avoiding expensive interest rates, this is a good card to consider. Even considering the balance transfer fee of 5 percent of each transfer amount ($5 minimum), it could end up saving you a large amount of money.

Zero percent intro APR on new purchases

The 0 percent introductory APR offer also applies to new purchases, meaning you’ll avoid paying interest on new purchases made with the card for the first 21 billing cycles. Though this gives you a good opportunity to pay off a large purchase over time, you should still avoid spending more than you can afford. After the 21 billing cycles are up, your purchases are subject to the same 17.74 percent to 28.74 percent variable APR.

It’s true that this card’s primary benefit is its intro APR offer. However, it does feature a few additional perks that could save you money.

Cellphone protection

If you pay your cellphone bill each month with your U.S. Bank Visa Platinum card, you’re eligible to receive cellphone protection on phones associated with the bill. Coverage for stolen or damaged phones is up to $600 per eligible incident. You can claim the reimbursement twice a year. So, in total, you could receive up to $1,200 in annual coverage (minus a $25 deductible each time).

Visa fraud protection

Another benefit you’ll receive through this card is fraud protection. Visa will monitor your account in real time and send you a notification if suspicious activity is detected. Stopping fraudulent activity in its tracks is easy with this standard Visa benefit.

U.S. Bank Visa Platinum additional benefits

No annual fee

You won’t have to worry about dishing out extra cash each year to cover an annual fee. This is another way the U.S. Bank Visa Platinum card can save you money.

Free credit score access

The U.S. Bank Visa Platinum Card also makes it easy to keep track of your credit score. The card comes with free access to your VantageScore from TransUnion and keeps you informed of any major changes to your score.

Although most lenders use the FICO score to make loan decisions, this is still a good benefit as it helps you understand where your credit score stands.

Maximizing the U.S. Bank Visa Platinum Card

The best way to maximize U.S. Bank Visa Platinum Card benefits is to use the card to pay off debt within the introductory period. The long 0 percent introductory APR offer can help you pay off existing balances while avoiding expensive interest rates — making it one of the top 0 percent intro APR cards on the market.

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Keep in mind: You need to pay off your balance within the first 21 billing cycles, or you’re stuck with an ongoing variable APR of 17.74 percent to 28.74 percent. Also, taking advantage of a balance transfer means you’ll pay a balance transfer fee of 5 percent of the amount of each transfer ($5 minimum).

The lack of purchase rewards diminishes the value of the U.S. Bank Visa Platinum card after you’ve finished paying off debt. To maximize the benefits of this card, you might consider pairing it with a top cash back card for your regular purchases while you work on paying down a balance transfer or large purchase on this card.

For instance, the Citi Double Cash® Card offers 2 percent cash back on all purchases — an unlimited 1 percent cash back when you buy, plus an additional 1 percent when you pay for those purchases. It also comes with a 0 percent intro APR offer for balance transfers for 18 months. After that, there is an 18.24 percent to 28.24 percent variable APR, based on your creditworthiness.

The bottom line

Overall, the U.S. Bank Visa Platinum card is a decent choice for paying down existing debt due to its lengthy intro APR offer for 21 billing cycles. Yet it’s missing the rewards and benefits that other intro 0 percent APR cards feature, which cuts into its long-term value. So, all in all, is the U.S. Bank Visa Platinum worth it? Only you can decide. Consider how you’ll use the card and maximize the benefits to know whether it’s the right choice for you.

*Information about the U.S. Bank Visa® Platinum Card has been collected independently by Bankrate. The card details have not been reviewed or approved by the issuer.

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