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Are you dealing with credit card debt? Do you need more time to pay off the debt? You have got U.S. Bank Visa Platinum card if you need more time to pay off your debt with 0% intro APR.
We are here to share our expertise in reviewing credit cards and balance transfer cards with years of experience. In this article, we are going to discuss more about the U.S. Bank Visa Platinum card, so stick right on to this page.
- 1 What is a U.S. Bank Visa Platinum Card?
- 2 Why do You Need a U.S. Bank Visa Platinum Card?
- 3 Reason to Skip the U.S. Bank Visa Platinum Card
- 4 Who will be suitable for a U.S. Bank Visa Platinum Card?
- 5 Pros and Cons of U.S. Bank Visa Platinum Card
- 6 Is the U.S. Bank Visa Platinum Card worth it for you?
- 7 Conclusion
What is a U.S. Bank Visa Platinum Card?
If you have a credit card debt and need extra time to pay it off, then the U.S. Bank Visa Platinum Card can be a good option for you.
It will provide a long intro APR period, which makes it easier for you to manage your existing balance or cover new expenses without accruing additional interest.
White may not be the best balance transfer offer, but the U.S. Bank Visa Platinum card stands out with its intro period both on purchases and balance transfers.
However, it is important to note that this card does not offer any rewards, which means it may not provide ongoing value after you have cleared your debt.
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Why do You Need a U.S. Bank Visa Platinum Card?
The U.S. Bank Visa Platinum card is a good choice for a balance transfer credit card. Let’s look into the reason.
Competitive intro APR offer
This card provides a competitive intro APR offer that covers both purchases and balance transfers. While it may not have the longest intro period, it lasts to 18 billing cycles. It’s still better than many other balance transfer cards.
The intro period includes purchases, that allow you to save on interest on both balance transfers and new purchases. After the intro period, the APR will range from 19.74% to 29-74% variable.
The U.S. Bank Visa Platinum card has low fees compared to other balance transfer cards. There is no annual fee, so you don’t have to pay just to keep the card. Moreover, there is no penalty APR if you miss a payment, which provides you some flexibility.
The balance transfer fee is 3% of the transferred balance or 5%(whichever is higher), which is on the lower side. This means additional cost on your balance, which makes it more affordable as you work to pay off your debt.
Reason to Skip the U.S. Bank Visa Platinum Card
Yes. While the U.S. Bank Visa Platinum card is a decent balance transfer card, there are reasons to skip this card.
No reward program:
This card doesn’t offer any rewards for your purchases. While this may not be a drawback if your focus is on paying off the debt. But it does mean that the card lacks long-term value compared to other cards with rewards programs.
Some cards provide both a competitive intro APR and the opportunity to earn some rewards.
Limited cardholder perks:
The U.S. Bank Visa Platinum card has a minimal cardholder perk. It offers cellphone protection coverage which can be beneficial if you pay your mobile bill with the card.
Moreover, there is a payover time feature that lets you split large purchases into fixed monthly payments. However, beyond these features, the card doesn’t provide many additional benefits that could enhance your overall cardholder experience.
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Who will be suitable for a U.S. Bank Visa Platinum Card?
The U.S Bank Visa Platinum card is suitable for people who have a good to excellent credit score, which means 670 to 850. This is because the card issuer normally looks for people with good credit scores. It is suitable for those who want to consolidate debt at 0% intro APR.
The card offers a long intro APR of 21 months on Balance transfers made within the first 60 days of the opening card. It is suitable for those who do not prioritize rewards programs as it does not offer any additional rewards and perks.
Pros and Cons of U.S. Bank Visa Platinum Card
|0% for 21 billing cycles intro on purchases
|No rewards program
|0% for 21 billing cycles intro on balance transfers
|Limited cardholder perks
|$0 annual fee
|Higher regular APR range (18.74% – 29.74%)
|Cell phone protection
|3% balance transfer fee (min $5)
Is the U.S. Bank Visa Platinum Card worth it for you?
The U.S. Bank Visa Platinum Card may not have the lowest interest rate or additional benefits once you have paid off your balance. It is a good choice if you want more time to clear your credit card debt.
The card stands out with cellphone protection and a reasonable balance transfer fee compared to other similar cards. However, if you are looking for long-term rewards, a different card with a good intro APR and a sign-up bonus might be more beneficial in the future.
If you need a lot of time to pay off a purchase or reduce existing debt, the U.S. Bank Visa Platinum card is a great option for you. It provides an extended period with a 0% intro APR for both purchases and balance transfers, which last for 21 billing cycles.
After that, the variable APR is 18.74% to 29.74%. Although there is a balance transfer fee of 3% or 5%, it is still a competitive option.
Apart from these features, the card doesn’t offer you any additional benefits which is somewhat a downside. We suggest you, before deciding make sure you compare the alternative options available to you on a long-term basis.
So that’s it for the review of the U.S. Bank Visa Platinum Card. We hope you have got enough insights from this post.
Nicole Hughes is a credit card and loan expert content writer based in New York. With a knack for simplifying financial jargon, she creates informative and reader-friendly content. Her work empowers individuals to make informed decisions regarding credit and loans, ensuring financial well-being.
Yes, the U.S. Bank Visa Platinum Card is a good choice for consolidating debt due to its competitive intro APR offer on balance transfers, providing 0% for 21 billing cycles.
No, the U.S. Bank Visa Platinum Card does not have an annual fee, making it a cost-effective option for cardholders.
The U.S. Bank Visa Platinum Card is suitable for individuals with a good to excellent credit score, typically ranging from 670 to 850.
No, this card does not offer a rewards program. While it is focused on providing benefits for balance transfers, it lacks long-term value through rewards.
This card is a bit picky and looks for people with a really good credit history. To have a good chance of getting approved, you’ll want a credit score of 700 or more. Just keep that in mind when you’re thinking about applying!