U.S. Bank Visa® Platinum Card review: Solid intro APR offer, but limited long-term value

U.S. Bank Visa® Platinum Card

Bankrate Score

Rating: 3.9 stars out of 5

3.9

Annual fee

$0

Intro offer

N/A

Rewards rate

N/A

Recommended Credit Score

Good to Excellent (670 – 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Citi Double Cash® Card

Bankrate Score

Rating: 4.2 stars out of 5

4.2

See Rates & Fees

Apply now

on Citi's secure site

Annual fee

$0

Intro offer

$200 cash back

Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.

Rewards rate

1% - 5%

Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25.

Recommended Credit Score

Good to Excellent (670 – 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Wells Fargo Reflect® Card

Bankrate Score

Rating: 4.3 stars out of 5

4.3

See Rates & Fees

Apply now

on Wells Fargo's secure site

Annual fee

$0

Intro offer

N/A

Rewards rate

N/A

Recommended Credit Score

Good to Excellent (670 – 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

• U.S. Bank Visa Platinum vs. Citi Double Cash® Card

  The Citi Double Cash® Card card is one of the U.S. Bank Visa Platinum card’s fiercest competitors. It offers the same balance transfer intro APR period as the U.S. Bank Visa Platinum and rewards cardholders with up to 2 percent back on all purchases (1 percent when you buy, 1 percent when you pay). A rewards program like this gives the Double Cash card more long-term value than the U.S. Bank Visa Platinum, making it more worthy of a spot in your wallet after your intro APR period ends. 

  However, the Double Cash card is only worthwhile if you pay off your debt before the intro APR period ends and if you avoid carrying a large balance because interest charges can quickly diminish your potential cash back earnings. The intro APR for the Double Cash also doesn’t include new purchases. Even if you are earning rewards, you need to pay off your balance on time each month to avoid interest charges. 

  While U.S. Bank Visa Platinum is better if your priority is to save money on interest for a short period, whether you're making new purchases or paying down debt, the Citi Double Cash has better long-term value because it earns cash back on new purchases.

• U.S. Bank Visa Platinum vs. Wells Fargo Reflect® Card

  Though these two cards have similar features, the Wells Fargo Reflect comes with a longer intro APR offer on both purchases and qualifying balance transfers. If you want as much time as possible to pay down your balance, the Wells Fargo Reflect is the obvious winner between the two. The Wells Fargo Reflect may also carry a slightly lower interest rate after its intro APR period ends.

  The U.S Bank Visa Platinum has a lower introductory balance transfer fee. Though you have less time to transfer a balance than you do with the Wells Fargo Reflect (60 days with U.S. Bank and 120 days with Wells Fargo), the 3 percent transfer ($5 minimum) fee on the U.S Bank Visa could save you a significant amount compared to the Wells Fargo Reflect’s 5 percent, minimum $5 balance transfer fee. For instance, a $1,000 balance transfer to the U.S. Bank Visa Platinum will cost $30 if you transfer it in the first 60 days. The same transfer to the Wells Fargo Reflect will cost $50, but you’ll have up to 120 days to transfer it to qualify for the intro APR.

  These factors make the U.S. Bank Visa Platinum the more cost effective option in the short term, but the Wells Fargo Reflect’s longer intro APR offers are more closely aligned with a balance transfer card’s primary purpose: offering maximum time to pay down balances.

• Focused debt repayers

  The lack of a rewards structure could be a welcome benefit on the U.S Bank Visa Platinum for people who only want to do one thing with their balance transfer card: pay down debt with limited added costs. Without the possibility to earn rewards, cardholders can focus on paying down their balances and saving as much on interest as they can thanks to the card’s intro APR offers. 

• Cost-conscious debt reducers

  While you won’t often escape a balance transfer fee with a balance transfer card, the lower the fee is, the more cost-effective the card. People who want to add as little extra cost to their balance as possible will benefit from the U.S Bank Platinum's low balance transfer fee. There’s also no penalty APR on the card, so U.S Bank won’t automatically tack on an inflated APR if you happen to miss a payment (though you will have to pay a late payment fee up to $41 and likely suffer a hit to your credit score).

• People who favor payment plans

  The U.S. Bank ExtendPay® Plan is an uncommon feature, especially among balance transfer cards. The plan allows you to pay off a large purchase (or several purchases) in equal payments on a payment plan. Instead of interest, U.S Bank charges a fixed monthly fee, which could be more cost-effective over time. If you are someone who might benefit from the opportunity to pay off a purchase on a payment plan, then the U.S Bank Visa Platinum is a great choice.

• Intro and ongoing APR

  The primary factor in a balance transfer or low-interest card’s rating is the quality of its introductory APR offer and ongoing APR. This includes both the introductory rate itself and the length of the intro APR on both balance transfers and new purchases. 

  For cards designed primarily for balance transfers, the intro APR offer on balance transfers has the largest impact on overall score. The quality of these cards’ intro APR on new purchases is also considered, but holds less weight than the intro APR on balance transfers. 

  For general low-interest cards, the intro APR offer on new purchases has the largest impact on overall score, followed by the ongoing APR and intro APR offer on balance transfers. This weighting assumes cardholders considering a card in this category will prioritize payment flexibility on new purchases or may need to carry a balance long term, whereas cardholders trying to pay off debt will opt for a dedicated balance transfer card.

  The cards that score the highest in these categories tend to offer long 0-percent intro APRs on both balance transfers and new purchases as well as a lower-than-average low-end APR. 

• Fees

  Along with evaluating each card’s intro APR offers, we score balance transfer and low-interest cards based on their fees. 

  Of primary importance is a card’s balance transfer fee, since this can play a large role in the total cost of a balance transfer. We rate each card’s balance transfer fee based on how it stacks up against the fee you’ll find on competing cards. 

  While this fee carries less weight when we assess general low-interest cards than dedicated balance transfer cards, it still factors into our evaluation since cardholders may decide to transfer debt to a low-interest card even if it offers no intro APR or an intro APR higher than 0 percent.

  And while a lower balance transfer fee could save you more overall than a few extra months of 0-percent intro APR, this fee carries less weight in our scoring system than a card’s introductory APR and intro APR period. This is because many users prioritize getting as much time as possible to pay off debt while avoiding interest. 

  Our ratings also factor in the presence of annual, foreign transaction, cash advance and late payment fees, along with penalty APRs. Annual fees are weighted most heavily since these are the only “unavoidable” fees in the list and tend to be less common on dedicated balance transfer and low-interest credit cards.

• Perks and long-term value

  While getting a generous intro APR offer and low ongoing APR are likely to be the biggest priorities for someone looking for a low-interest or balance transfer card, we also consider how much value a card can offer after its intro APR comes to an end. 

  Balance transfer and low-interest cards receive a higher rating if they also include an ongoing rewards program or unique and valuable perks. Such features make a card more useful long term and make it less likely you’ll need to apply for a new card (and temporarily hurt your credit score) after you pay off debt.

• Does the U.S. Bank Platinum have the longest intro APR for a balance transfer card?

  No. The U.S. Bank’s offer is fairly long, but it isn’t the longest intro APR offer among the best balance transfer credit cards.

• What credit score do I need for the U.S Bank Platinum?

  U.S. Bank recommends having a good to excellent credit score for feasible approval, which will range from 670 to 850 on the FICO scale.

• How often does U.S. Bank increase credit limits?

  Qualifying credit card accounts may be eligible for an automatic credit limit increase six months after you open an account (based on periodic account reviews) — though there is no certainty on when U.S. Bank will automatically boost credit limits.

• Does the intro APR only apply to balance transfers?

  No. The intro APR applies to both purchases and balance transfers with the U.S. Bank Platinum, so it’s ideal for financing upcoming large purchases and paying down transferred debt.

What cardholders think

U.S. Bank Visa® Platinum Card

4.4

48 ratings

In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are unedited and have not been reviewed or approved by credit card issuers.

88% of customers recommend this card

Score breakdown

5 stars

50%

4 stars

38%

3 stars

10%

2 stars

2%

1 star

0%

Score by category

Overall 4.4 / 5

Extra perks 3.7 / 5

Meets financial needs 4.4 / 5

Privacy and security 4.4 / 5

Customer service 4.4 / 5

Online portal or mobile app 4.2 / 5

In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder’s product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate’s own reviews of these cards.