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3. U.S. Bank Visa® Platinum Card: A handy back-up plan

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25 reviews from Intuit Credit Karma members

2

Rating: 2 out of 5.

Great for paying off new and existing debt

Annual Fee: $0

This content is curated by Intuit Credit Karma’s Editorial team using data from members who were approved for this card or similar cards, or who self-matched this card or similar cards. Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse this content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

Here’s the average credit limit of members who matched their U.S. Bank Visa® Platinum Card or similar cards.

% of members by credit limit range

The average credit limit for members who have matched with this card or similar cards is $8,326, with $3,000 being the most common.

Here’s the average credit score of members who matched their U.S. Bank Visa® Platinum Card or similar cards.

% of members by credit score range

The average credit score for members who have matched with this card or similar cards is 696, with 739 being the most common. Note this is just one of the deciding factors when it comes to getting approved.

Member stats

Updated daily

31.7%

Average credit utilization (or what percent of the card’s credit limit is being used) of members who matched with this card or similar cards.

47 years

Average age of members who matched this card or similar cards.

$99,215

Average annual income of members who matched this card or similar cards. Note: Income may be estimated for some members by Credit Karma and may differ from members’ actual incomes.

Pros and cons

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Intro 0% APR for balance transfers and purchases for the first 18 billing cycles your account is open, then a variable APR of 17.74% - 28.74%

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Annual fee: $0

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To qualify for the intro APR for balance transfers, transfers must be completed within 60 days from account opening

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Balance transfer fee: An introductory fee of either 3% of the amount of each transfer or $5 minimum, whichever is greater, for balances transferred within 60 days of account opening. After that, either 5% of the amount of each transfer or $5 minimum, whichever is greater.

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No rewards or sign-up bonus

If you’re anticipating a large purchase, or another big expense comes up, it might be good to have the U.S. Bank Visa® Platinum Card in your wallet.

In the world of balance transfer credit cards, the U.S. Bank Visa® Platinum Card might not be considered the best, but it certainly has a couple of features that stand out. Here’s our take.

The rundown: Everything we like about the U.S. Bank Visa® Platinum Card

The U.S. Bank Visa® Platinum Card doesn’t come with a ton of perks, but the long intro APR on balance transfers could be helpful if you’re looking to pay off your credit card debt or consolidate balances.

And it’s got an equally long intro APR for purchases, which makes it a good option if there’s a high unexpected bill or big purchase you don’t have the cash on hand for.

For either option, just make sure you plan to pay off the balance in full before the intro APR period ends. That way you’ll get the full benefits.

Heads up: What you should consider before applying for the U.S. Bank Visa® Platinum Card

If you transfer a balance to this U.S. Bank card, you’ll pay a balance transfer fee: An introductory fee of either 3% of the amount of each transfer or $5 minimum, whichever is greater, for balances transferred within 60 days of account opening. After that, either 5% of the amount of each transfer or $5 minimum, whichever is greater. Depending on how much you plan to transfer, that could be a sizable cost.

Also, the U.S. Bank Visa® Platinum Card doesn’t come with a sign-up bonus, rewards program or cash back features that you can find with other credit cards.

Do the math: How to get the most out of the U.S. Bank Visa® Platinum Card

To get the most out of the U.S. Bank Visa® Platinum Card as a balance transfer card, you need to transfer any balances within 60 days of your account opening.

You should also be aware of the promotional APR terms, so that you don’t miss out on the main offer. When the intro APR period ends, you’ll be charged interest again on any remaining balances, whether they’re from a transfer or new purchases on the card. The new variable rate will also apply to any new or future purchases and balances transferred.

Bottom line: Is the U.S. Bank Visa® Platinum Card right for you?

If you need a balance transfer card to consolidate and pay off debt more quickly, the U.S. Bank Visa® Platinum Card isn’t your only option — and some of those other cards out there have more-comprehensive offers for balance transfers. But if you need a no-interest period to help pay off a large purchase or unforeseen expense, the long introductory rate on this card may be exactly what you need.

Still, other than the lengthy intro period, nothing else about this card is exceptional.