The US Bank Platinum Visa Credit Card is a straightforward cash-back credit card with no annual fee. Offering an attractive signup bonus, solid rewards on select purchases, and benefits like cell phone protection, the US Bank Platinum Visa Credit Card deserves consideration among basic cash-back cards.
In this comprehensive guide, we’ll take a look at all the perks and features of this popular card from US Bank to see if it may be a good fit for your wallet.
Overview of the US Bank Platinum Visa Credit Card
Here are some key facts and information to know about the US Bank Platinum Visa Credit Card:
- Issued by US Bank, the 5th largest bank in the United States
- Cash back credit card offering 3x and 2x category bonuses
- No annual fee
- 0% intro APR on purchases and balance transfers for 20 billing cycles
- Welcome bonus of $500 after $4500 in purchases in first 4 months
- Cell phone protection covers damage and theft up to $600 when you pay cell bill with the card
- Rental car insurance provides secondary coverage when renting for business with a card
- Visa Signature card so includes benefits like lost luggage reimbursement, travel discounts, and more
With no annual fee, the ability to earn bonus cash back, and helpful insurance protections, the US Bank Platinum Visa Credit Card card can provide strong everyday value.
Card Design and Packaging
The US Bank Platinum Visa Credit Card features a standard plastic credit card design:
- The card is made of plastic in white, gold, and blue colours
- Features US Bank and Visa logos, account number, expiration date
- 16-digit account number with 9 digit rewards number below
- The name and “Member Since” date are listed below the card number
- Contactless/tap-to-pay enabled
- Arrives in a plain white envelope
- Nothing unique or special about the card’s appearance
The card itself looks like any other basic credit card. US Bank hasn’t invested in a flashy metal or hybrid card design.
Rewards and Bonus Categories
The US Bank Platinum Visa Credit Card offers a small collection of elevated bonus categories along with 1x point per dollar everywhere else:
- 3 points per $1 spent on eligible cell phone plans, select streaming services, and grocery store purchases
- 2 points per $1 at gas stations and on local transit and ride shares
- 1 point per $1 on all other everyday purchases
- Points can be redeemed as cash back into a US Bank account or for gift cards, travel, and more
- $25 minimum redemption
- Each point is worth 1 cent when redeemed for cash back
While not the richest rewards, the handful of 3x and 2x categories on key expenses can help maximize everyday spending.
Introductory 0% APR Offer
New US Bank Platinum Visa Credit Card cardholders can take advantage of an intro 0% APR offer on purchases and balance transfers for the first 20 months:
- 0% intro APR for 20 billing cycles on purchases
- 0% intro APR for 20 billing cycles on balance transfers
- Balance transfer fee of 3% (min $5) applies
- After the intro period, ongoing APR is 16.49% – 24.49% variable
- Intro period gives 20 months to pay down debt interest-free
If you have existing debt, the 20-month 0% intro period could make transferring and consolidating balances to this card worthwhile.
Welcome Bonus
New US Bank Platinum Visa Credit Card cardholders can earn a $500 welcome bonus after meeting minimum spending requirements:
- Earn a $500 bonus after making $4500 in purchases within the first 120 days of account opening
- Bonus worth $500 cash back redemption
- One of the more generous welcome offers for a no-annual-fee cash-back card
- Helps offset some of the rewards lost from not having a signup bonus
- Bonus cash back will be posted to your statement within 2 billing cycles after meeting the requirements
While $4500 in 4 months is higher than some cards, the $500 return is very strong for a $0 annual fee card.
Foreign Transaction Fees
A benefit for travellers is that the US Bank Platinum Visa Credit Card card does not charge foreign transaction fees:
- There are no foreign transaction fees on the card
- This applies to any purchases made outside the U.S. or with foreign merchants
- Saves 3% on charges made abroad compared to cards with foreign fees
- Helps keep costs lower when travelling internationally and spending in foreign currencies
Avoiding annoying foreign transaction fees is always positive. Just note it doesn’t offer the best exchange rates.
Balance Transfer Details
In addition to the 0% intro APR offer, the US Bank Platinum Visa card offers reasonably good terms for balance transfers:
- Intro 0% APR on balance transfers for first 20 billing cycles
- 3% balance transfer fee (minimum $5)
- After the intro APR expires, ongoing transfer APR of 16.49% – 24.49% variable
- Can transfer balances from other credit cards or loans
- Transfer requests must be at least $100
- Allows you to consolidate debt at a lower interest rate
While not the absolute lowest fee or longest term, there is a decent opportunity to save on interest when transferring existing balances over using the intro 0% offer.
Cell Phone Protection
A nice perk of the US Bank Platinum Visa is complimentary cell phone protection when you use the card to pay your cell bill:
- Covers cell phones against damage and theft up to $600 per claim
- Maximum of 2 claims and $1,200 in coverage every 12 months
- A $25 deductible applies to each successful claim
- Protection kicks in as soon as you start paying your cell bill with this card
- File claims by calling the benefits administrator within 90 days of the incident
Cell phone coverage provides peace of mind that your device is protected when your card is paying the monthly cell service bill.
Rental Car Insurance
When renting a car for certain qualifying business reasons, secondary rental car insurance is included with the card:
- Provides secondary coverage on rental cars up to 31 consecutive days
- To qualify, the rental must be for business reasons, not personal
- Covers physical damage and theft up to the actual cash value of the vehicle
- Works domestically and internationally
- Still need your own car insurance policy for this benefit to apply
- Coverage is secondary to your own personal insurance
The rental car coverage is not as robust as on premium cards but still helpful for business renters to have as backup.
Credit Required for Approval
The US Bank Platinum Visa Credit Card is easier to be approved for than premium rewards cards, with requirements of:
- Good or average credit scores recommended (680+)
- Little or no recent negative information like late payments
- Some credit history with past revolving credit preferred
- Low credit utilization and balances under 30% of limits
- Any income must be legal and verifiable
You don’t need pristine credit for the US Bank Platinum but being in good standing helps approval odds for this Visa Signature card.
How Hard Is It To Get Approved?
Compared to other rewards cards, the US Bank Platinum Visa Credit Card has only moderately strict approval standards:
- Easier to get than elite cards like Chase Sapphire Reserve
- High balance limits are not necessarily required
- Approval odds increase when a banking relationship with US Bank
- Less focus on very high credit scores or income amounts
- But still want at least average credit standing
- Light credit history or past issues could lead to denial
Having some credit experience and at least fair credit should mean approval is achievable for this accessible rewards card.
How to Apply
Applying for the US Bank Platinum Visa Credit Card is quick and easy:
- Apply online for the fastest application and decision process
- Provide basic identity information like SSN, birthdate, address
- Enter estimated income and housing payment details
- Be sure to carefully review offer terms and disclosures before submitting
- Application decision is generally provided within 60 seconds
- If more review is needed may take a few days for the final decision
- If approved, the card usually arrives within 7-10 business days
The online application experience is smooth and only takes a few minutes. Check your new account frequently for when your actual card arrives.
Login and Account Management
Managing your US Bank Platinum Visa account is simple with these online and mobile tools:
- Log in online at usbank.com for account access
- View statements, make payments, check balances and transactions
- Set up autopay for your monthly bill via debit or bank account
- Redeem cash-back rewards through the online portal
- Mobile app available for iOS and Android devices
- The mobile app lets you access your account, redeem rewards, and get alerts
The combination of online login and mobile app makes it easy to stay on top of your account, balances, and cash back anywhere.
How to Close the Card or Account
Need to cancel your US Bank Platinum Visa Credit Card? Here are the steps:
- Call the number on the back of your card to close it
- You can also write a letter requesting closure and mail it to US Bank
- Consider downgrading to a different US Bank card instead of full closure
- Continue paying monthly bills until the account reflects a $0 balance
- Make sure any pending transactions go through before closing
- Account closure may take 1-2 billing cycles to fully process
Before closing be certain there are no pending issues on the account and the balance is paid. Downgrading the account is generally preferable to outright closure.
Alternatives to Consider
The US Bank Platinum Visa is a solid basic cash-back card but there are some other great options with similar features:
- Chase Freedom Flex – Rotating 5x categories and strong bonus opportunities
- Citi Double Cash – Flat 2x everywhere instead of bonus categories
- Wells Fargo Active Cash – Unlimited 2x cash back on all purchases
- Capital One SavorOne – 3x dining and entertainment with no annual fee
- Discover It Cash Back – 5% categories and 10% first-year match
Compare the bonuses, rewards structures, and perks across these $0 annual fee cash-back cards to find the optimal one for your spending habits.
Is the US Bank Platinum Visa Worth It?
The US Bank Platinum Visa card deserves consideration from consumers looking for a no-fee cash-back credit card with some useful benefits. It makes the most sense for these types of cardholders:
- Existing US Bank customers – Having a banking relationship already can help with approval odds and offers
- Streamers and cell phone users – The 3x bonus categories on streaming services and cell plans offer a decent return
- Rideshare and transit riders – 2x back on Uber, Lyft, and public transportation rewards for frequent use
- Responsible credit users – Benefits like cell phone insurance reward those who pay bills on time and manage credit wisely
While not packed with perks, the US Bank Platinum Visa gets the basics right as an everyday cash-back card with bonus opportunities for certain purchases and protections that matter.
US Bank Platinum Visa Credit Card Review Summary
Here are some key conclusions from this full review of the major features and benefits of the US Bank Platinum Visa Credit Card:
- Decent cashback bonuses – 3x and 2x categories provide an opportunity for solid earning on common purchases
- Valuable new cardmember perks – Large $500 signup bonus and intro 0% APR period add value
- Useful protections – Cell phone and rental car coverage provide peace of mind when travelling and making purchases
- Easy to use – Simple online and mobile tools for managing accounts and rewards
- Approval accessible without perfect credit – Average credit scores can be approved if other markers look good
Overall, the US Bank Platinum Visa Credit Card deserves strong consideration as a no-annual fee, cash-back rewards credit card option. While not revolutionary, it combines an attractive signup bonus, intro financing offer, and useful benefits into a solid everyday credit card.
US Bank Platinum Visa Credit Card: FAQs
1. What credit score is needed for the US Bank Platinum Visa?
You can likely be approved with an average credit in the 680 range or higher. Those with scores of 700+ have the best approval odds.
2. Are there foreign transaction fees?
No, the US Bank Platinum Visa does not charge foreign transaction fees on purchases made abroad or with foreign merchants.
3. Can your product change to the US Bank Platinum Visa card?
Yes, you may be able to change another US Bank card to the Platinum version to access its rewards and benefits.
4. What is the highest credit limit on the Platinum Visa?
Like with most credit cards, the maximum limit depends on your creditworthiness but can reach up to $20,000 or more for very well-qualified applicants.
5. How do you redeem cash back from the US Bank Platinum Visa?
Cashback can be redeemed as a statement credit, direct deposit into a US Bank account, or for gift cards, travel, and more through the online rewards portal.
Conclusion
With its solid welcome bonus, intro 0% financing, cell phone protection, application accessibility, and lack of an annual fee, the US Bank Platinum Visa card makes for a strong starter card or everyday spending option.
The cash-back rewards won’t necessarily maximize all your spending. But combined with its other key benefits, the US Bank Platinum Visa occupies a nice spot among basic Visa cards for consumers who want a little more value without the complexity of premium rewards credit cards. Just be sure to pay your statement balance on time each month and take advantage of the card’s bonus opportunities and protections.
