US Bank Visa Platinum Card Review: Low Interest & Free Credit Score
With free access to your monthly credit score and no annual fee, the US Bank Platinum Visa Card is a good choice for those who plan to carry a balance. The lack of rewards makes it less than ideal for those who don't carry a balance. However, if you’re paying down some debt, the intro APR and low regular APR make this card the way to go.
Pros and Cons
Good no annual fee credit card for those who tend to carry a balance
Low Interest Rate
The U.S. Bank Visa Platinum Card offers a wide range of interest rates for its cardholders, currently 9.99% to 20.99%. The rate you get mostly depends on your creditworthiness and your credit score. If you meet the highest application standards, you get the lowest variable APR, which is currently 9.99%. This is extremely competitive in today’s credit market.
Applicants with weaker credit can still get this card, but it will come with a higher APR.
This card makes it easy to manage your credit card because it gives you free access to your monthly credit score. On your own, you usually have to pay to access your credit score. As a result, many Americans have no idea what their credit score is. With this card, you can keep track. Plus, there is no annual fee and $0 fraud liability.
New cardholders get an introductory APR after signing up the U.S. Bank Visa Platinum Card. For your first 15 billing cycles with this card, you'll enjoy a 0% intro APR on purchases and balance transfers from other cards. Using this introductory period gives you a solid window to help pay off debt.
There is a 4% fee charged on balance transfers, but this usually adds up to much less than paying interest for 15 months. For balances transferred within 30 days of account opening, there is an introductory balance transfer fee of either 3% of the amount of each transfer or $5 minimum, whichever is greater.
No Reward Programs
The downside of the U.S. Bank Visa Platinum Card is that it doesn’t offer any sort of rewards program. When you make purchases on this card, you don’t earn any free travel bonuses, merchandise, or cash back. It’s only a credit card. If you pay off your balance each month, you don’t get much benefit from this card and should probably look elsewhere.
Great choice for applicants who are trying to pay down debt and improve their credit score. Consumers who don't carry a balance should consider a rewards credit card instead.
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Editorial Note: This content is not provided by U.S. Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by U.S. Bank. This site may be compensated through the Advertiser's affiliate programs.
Disclaimer: This content was first published on January 4, 2013. This content may have been updated on March 24, 2015. Information including APR, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check U.S. Bank website for updated information.
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