Who is This Credit Card Best For?
Is turning their passion into a money-making venture
Diligently searches for the best products and delights in a good bargain
Prioritizes sticking to their budget while buying what they want and need
Hits the road often, whether for work or play
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.
0% introductory APR on purchases and balance transfers
Low ongoing APR
No annual fee
No rewards or sign-up bonus
Foreign transaction fee
- 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—11.74% 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.
- 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
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.
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.