U.S. Bank Business Platinum Card Review

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The U.S. Bank Business Platinum Card doesn’t offer any sign-up bonus or rewards and very few perks. But if you’re a small business owner carrying a balance from month to month, it has one stand-out feature—an APR lower than most on the market.

U.S. Bank Business Platinum Card

overall rating
2.4
U.S. Bank Business Platinum Card
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Excellent
Regular APR (%) 11.99% - 19.99% variable
Annual Fee $0
Rewards Earning Rate This card does not offer a rewards program.
INTRO PURCHASE APR 0% for 12 Billing Cycles
Cash Advance APR (%) 25.99%
Cash Advance Fee Either $10 or 5% of the amount of each cash advance, whichever is greater.
Ratings Breakdown
for Interest
2.8
for Fees
4.1
for Rewards
2.5
for Credit
3.7

Who is This Credit Card Best For?

  • Avatar for Entrepreneur Persona
    Is turning their passion into a money-making venture
    Entrepreneur
  • Avatar for Deal Seeker Persona
    Diligently searches for the best products and delights in a good bargain
    Deal Seeker
  • Avatar for Savvy Saver Persona
    Prioritizes sticking to their budget while buying what they want and need
    Savvy Saver
  • Avatar for Road Warrior Persona
    Hits the road often, whether for work or play
    Road Warrior

There are no rewards or extra perks with the U.S. Bank Business Platinum Card, so it’s really designed for business owners with excellent credit who are looking for a break on their finance charges. If you need some time to pay off a large purchase, or if you’re carrying high-interest debt, this card is worth considering for its 0% introductory interest rate on purchases and balance transfers. While other business cards (even others issued by U.S. Bank) offer similar deals, this one comes with a better purchase APR once the year-long promotion is over.

Pros

  • 0% introductory APR on purchases and balance transfers

  • Low ongoing APR

  • No annual fee

Cons

  • No rewards or sign-up bonus

  • Foreign transaction fee

Pros Explained

  • Promotional APR on purchases and balance transfers: While plenty of business cards have a 0% APR promotion on purchases, getting the same break on balance transfers makes it a little more appealing. Balance transfer offers can be particularly helpful if you’ve been hit with an unexpected expense, though you should weigh the savings against the 3% fee charged to make the transfer. 
  • Low ongoing APR: Once you’re promotional period is over, you’ll get one of the lower APRs available on a small business card—11.99% variable for the most creditworthy applicants. This applies to both purchases and balance transfers. 
  • No annual fee: This is not a huge selling point since so many small business cards skip this fee, but it’s still worth mentioning. 

Keep in mind that you can find the same 0% APR offer by choosing a different card, plus get points or cash back worth hundreds or even thousands of dollars a year. You may even find a longer promotional period. So this card is best for people looking for a deal on interest over the long haul. 

Cons Explained

  • No rewards or sign-up bonus: Many other business credit cards offer customers ways to earn cash back on their purchases or miles toward free flights or hotel stays. Don’t expect anything like that with this card. 
  • Foreign transaction fee: This is not the card you want to bring with you if you do business overseas since you’ll have to cough up a 3% fee on any purchases you make.

U.S. Bank Business Platinum Card’s Other Features

  • Rental car collision insurance
  • Free employee cards
  • Travel and emergency hotline
  • Insurance for stolen or damaged purchases
  • Extended warranties

Customer Experience

U.S. Bank scored about average in J.D. Power’s 2019 Credit Card Satisfaction Study, but well behind competitors including Discover and American Express, which were No. 1 and 2. 

The company touts a “100% domestic servicing center” on its website, and it provides 24/7 telephone customer support as well as live chat support and a mobile app for managing your account. You’ll also get to control when and how your employees use cards on your account, including by setting spending limits. 

Security Features 

The U.S. Bank Business Platinum Card has standard security features, including zero fraud liability, chip technology, and 24/7 fraud monitoring. 

U.S. Bank Business Platinum Card’s Fees 

As we’ve already said, the U.S. Bank Business Platinum Card has no annual fee, but you will pay 3% on foreign transactions. Otherwise, its fees are pretty standard for a card in the business category.

For U.S. Bank Business Platinum Card
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CURRENT CARD
U.S. Bank Business Platinum Card
overall rating
2.4
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Excellent
Regular APR (%) 11.99% - 19.99% variable
Annual Fee $0
Rewards Earning Rate This card does not offer a rewards program.

Our Methodology

  • At The Balance, we are dedicated to giving you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.
  • Our Reviews Are Always Impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive. The scores and reviews come directly from the data we collect and our editorial expertise, and we focus on three areas:
  • How Much Does It Cost? With credit card debt at an all-time high, we believe you should know the cost of carrying a balance. Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees.
  • What Are the Rewards Worth? Cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely. To simplify the problem, we built a system that fairly compares rewards and gives them a dollar value. We do this by looking at the ways you can earn and use rewards, which includes evaluating Americans’ typical spending habits and analyzing common travel patterns.
  • Does It Make Your Life Easier? Our scoring system favors cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting customer service. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges.
  • For every review on The Balance, we hold the credit cards to these standards, and we set the bar high. While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. See our full methodology for more details.