Overview
A long introductory APR period can make it simpler to get a jump start on your debt, and the U.S. If you require more than a year of leeway to settle your outstanding balance or fund fresh costs, the Bank Visa® Platinum Card is an excellent option.
The Visa Platinum card provides one of the finest introductory zero-interest rates for purchases and balance transfers, but not having the best balance transfer card deal on the market. However, as it doesn’t have any rewards, it doesn’t provide much further benefit once your balance has been paid. To determine which option will be most advantageous over the long term, compare rival cards and even rewards cards with smaller introductory APR rates before making your choice.
Card Benefits
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Free Credit Score: When you sign up for online banking, TransUnion will provide you with a free credit score as well as alerts whenever your score significantly changes.
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Cell Phone Protection: Pay your cellular phone payment each month with U.S. With the Bank Platinum Visa, you can make up to two claims ($1,200) every calendar year and receive damage or theft coverage up to $600 with a $25 deductible. All of your cell phone lines—including any auxiliary, supplementary, or secondary lines—are covered by this.
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Pay over time: With the help of this tool, you can spread out large purchases over a longer period of time. These purchases feature a monthly fee that isn’t more than 1.6 percent of the purchase price instead of accruing interest (see conditions). When making Christmas purchases or paying for vacation, this function might be extremely useful.
Sign-up Bonus
There is no welcome offer with the U.S. Bank Visa Platinum card. The card instead focuses solely on its introductory APR rate. Both purchases and balance transfers are exempt from interest for 18 billing cycles as long as they are made within the first 60 days. Be informed that there will be a 3 percent or $5 minimum transfer fee, whatever is greater, if you intend to conduct a balance transfer.
How to Earn Rewards
Regrettably, the U.S. The Bank Visa Platinum does not offer incentives for purchases. Even though this could be disappointing, this doesn’t necessarily make the card poor. It may present a chance for cardholders to concentrate on paying off debt rather than accumulating more of it to receive incentives. Even so, it does have an impact on the card’s worth over time, so bear that in mind once the introductory APR expires.
Additional Information
For 18 payment cycles, the U.S. Bank Visa® Platinum Card offers a 0% introductory APR on purchases and balance transfers; after that, the APR ranges from 18.74% to 28.74%. There is a balance transfer fee of 3% or $5, whichever is higher. You should try to pay off your whole balance before the promotional period expires in order to take advantage of the introductory APR.
You should be aware that using this card to transfer debt from another card will incur a balance transfer fee. 3% of each transfer’s value or $5 as a minimum, whichever is higher. A $5,000 balance transfer, for instance, would cost $150 in addition to the $5,000 you were transferring. Make sure the amount you would save on interest outweighs any balance transfer fees by doing the math before selecting a balance transfer card.
Fees
The U.S. Bank Visa Platinum offers an introductory APR of 18.74 percent for the first 18 billing cycles on purchases and balance transfers, followed by a variable APR as low as 18.74 percent (or as high as 28.74 percent). Although the bottom end of this range has an interest rate that is slightly lower than the current average, it is not by enough to make carrying a balance over an extended period of time acceptable. To qualify, you must transfer your balances within the first 60 days. You should also be sure to make all of your payments on time every month. Otherwise, you risk losing your zero-interest deals and incurring a late payment cost of up to $40; however, there is no penalty APR.
Its 3 percent ($5 minimum) balance transfer cost, which is on the lower end of the usual 3 to 5 percent range, as well as 3 percent foreign transaction fee should also be noted. When you make purchases abroad in U.S. dollars, the international transaction price decreases to 2%, but bear in mind that the additional currency conversion fee will likely wind up costing more than the 3% foreign transaction fee. However, this rate combined with the absence of an annual fee makes it a pretty affordable card.
Required Credit Rating
For the United States, you must have at least excellent credit. Platinum Visa® from Bank Generally speaking, a score of at least 690 is considered to be “good credit.” However, getting approved for a credit card doesn’t just depend on your credit score. Issuers consider your income, outstanding obligations, and other details.
Is this the right card for you?
It’s a terrific way to accumulate rewards you can use for travel or to offset daily expenses to use a credit card to earn points, miles, or cash back. Opening a credit card with an introductory 0% APR offer, however, could result in even greater savings if you have significant purchases that you are unable to pay off right away or are bearing high-interest balances on previous credit cards.
The U.S. Bank Visa® Platinum Card has a standout feature even if it doesn’t have a sign-up bonus or allow you to earn rewards for your purchases. For the first 18 billing cycles (balance transfers must be performed within 60 days of account establishment), new cardholders are eligible for a 0% intro APR on purchases and balance transfers. Thereafter, the APR ranges from 18.74% to 28.74% Variable.
