Does the US Bank Platinum card have rewards?

While the US Bank Platinum card does not offer a formal rewards program, the benefits that it offers should not be underestimated. With its lengthy 0% interest on payments, its features could end up being more rewarding than any rewards program. 

Why you should consider the US Bank Platinum card

The US Bank Platinum card comes with one of the longest 0% intro APR periods on the market. Its 20-month welcome period applies to both balance transfers and new purchases you make on the card. 

As a 0% purchasing card, the Platinum card is great for anyone looking to make large purchases. The lengthy 0% APR period affords cardholders more than a year and a half to finance a significant purchase before paying any interest. For example, you could buy a $2000 flat-screen TV and pay it off in 20 monthly installments at just $100. Furthermore, in the event of an unexpected bill such as an emergency hospital trip, its 0% intro APR can make finances more manageable and stress-free. 

As a 0% balance transfer card, the Platinum card is also beneficial for those who carry significant debt. While there is a balance transfer fee of 3% (minimum $5) on each transaction, you can counter this drawback by paying off your balance within the card’s welcome period. For instance, if you carry a $5000 debt, you’ll owe $150 in transfer fees. If your current credit card charges higher interest rates and balance transfer fees, you could end up paying less over the next 20 months with the Platinum card. Not only will the Platinum card save you a lot of money, but it will also allow you to escape debt faster. To take advantage of the 0% intro APR, make sure you transfer your balances within the first 60 days of your card membership, otherwise, the offer will not apply. 

Despite its 0% intro APR on both new purchases and balance transfer, taking advantage of both features could be harmful to your financial situation. If you carry significant debt and your aim is to eliminate it as soon as possible, financing large purchases would only add to your existing credit card balance. Therefore, it is up to you to decide which offer that comes with the Platinum offer is most beneficial to you. 

Bottom-line

While the US Bank Platinum card does not have offer rewards, its introductory rates of 0% for 20 months on new purchases and balance transfers is worth overlooking that fact. It’s rare for credit cards with these kinds of rates to also give the best rewards. If you need an extended period of time to finance large purchases or pay off a debt, this card offers more benefits than what other many cards on the market could give you.