U.S. Bank Visa^® Platinum Card Review

Who is the U.S. Bank Platinum card for?

Despite no formal points or cash back benefits program for the U.S. Bank Visa^® Platinum Card, this card comes with one of the longest 0% intro APR periods of 18 billing cycles. This rate applies to both balance transfers from other credit cards and your new purchases you make on the card, This gives you over a year and a half to get out of debt!

Therefore, this card is great for anyone with large amounts of debt looking to pay some of it off in the next 18 months. However, take note that only those with good to excellent credit scores tend to be accepted to own this card. This makes it tricky for those with a history of credit debt to obtain this card.

Another outstanding perk with this card is that if you pay your monthly cellular bill with the U.S. Bank Platinum Card you will gain free cell phone coverage for damage or theft up to $600, with a $25 deductible for up to two claims of $1,200 per 12-month period. It’s not uncommon for cardholders to open this card solely to finance a cell phone upgrade for the next Apple or Android devices.

This card will be a great fit if you’re looking to reduce your debt, finance bigger purchases, or don’t want to pay an annual fee. After your lengthy 0% APR period, expect your APR to be between 19.74% - 29.74% (Variable), based on your creditworthiness.

Welcome Bonus

As previously mentioned, there is no traditional welcome bonus associated with this card. However, certain cardholders can save hundreds of dollars by not having to pay interest on payments or balance transfers.

Additionally, since there is no annual fee, these savings come at no cost to the card owner. Take caution with balance transfers though, because although there is no interest for the first 18 months, there is still a balance transfer fee of 3% or $5 minimum.

Intro APR

The lengthy intro APR period of 0% is the defining feature of this card. This trait is appealing to a variety of cardholders, but especially beneficial to those looking to pay off debt or finance large purchases.

Since this is the most appealing feature of the card, anyone looking for an excellent rewards program or other bonuses are better off with other cards. Besides the intro APR period, the U.S. Bank Platinum card offers a variety of protections as well.

Service Benefits and Protection Features

The U.S. Bank Platinum card provides great service and protection features for its users. One of these features is its chip technology. This allows for easier transactions since no information needs to be typed in. Furthermore, chip technology protects the users’ card information, adding a protective layer to the card.

There is also online and mobile account access which makes it simple for card owners to view their balance, pay their fees, set up alerts, and perform many other helpful tasks. This feature permits cardholders to stay up to date on any necessary payments, reducing the risk that they will miss a fee and be charged up to $41.

Further ways to avoid late fees is through FlexControl Budgeting tools.  Cardholders are able to set up alerts for payments, or even change the settings to have their charges automatically paid from their account on a regular monthly basis. This element of the card also aims to help users avoid any unnecessary interest on payments.

Those who use this online account management feature will also gain access to their TransUnion credit score. TransUnion tracks members' credit score over time and will send alerts if there are any large changes. This tool is free and easy to use, making it effortless for card users to stay informed on their creditworthiness.

Many people have questions about credit and its importance. Since credit does have many implications for card users and their ability to complete transactions, U.S. Bank felt it was crucial to include a Credit Wellness Center feature. This center provides answers to any variety of questions a cardholder may have concerning credit. For example, some of these questions include:

• What is a credit score?
• How is my credit score calculated?
• Why does this score matter?
• How can I improve my personal score?

As for fraud protection, U.S. bank has many fraud-monitoring tools that focus on detecting any unusual charges or spending patterns on your account. If there are fraudulent charges detected, then the cardholder does not face any accountability. This is because there is a $0 liability feature, providing the owner of the card with additional security and confidence in their card.

Finally, there is a Spend Analysis Online Reporting tool, offering the cardholder the ability to easily track their expenses. This is made painlessly accessible through a chart that shows all of your recent spending habits. 

If card users have any questions about any of the above features, they are able to receive quick and efficient service through the card’s 24/7 customer service component. Representatives will be able to answer any questions you may have.

Shopping Advantages

Cell phones connect to everything we do, including online shopping. While paying your monthly cell phone bill, U.S. Bank will protect your phone from theft. This coverage is for a 12 month period, and provides up to $600 for up to two claims.

Being a cardholder also allows you to gain valuable Visa discounts from many different popular retailers. There is also an option for gift-with-purchase offers for many of these online or in store retailers.

Conclusion

Ultimately, this card is mainly for people looking to pay off debt or finance large purchases. However, there are many features, such as the cell phone coverage and security features, that make it a solid choice for other people as well. Our biggest piece of advice to potential cardholders is to take advantage of the intro APR period of 0%, since this is where you will get the most out of the card.