U.S. Bank Business Platinum Card Review

We publish unbiased reviews; our opinions are our own and are not influenced by payments we receive from our advertising partners. Learn about our independent review process and partners in our advertiser disclosure.

The U.S. Bank Business Platinum Card doesn’t offer a new cardholder 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
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
Regular APR (%) 11.99% - 20.99% variable
Annual Fee $0
Rewards Earning Rate This card does not offer a rewards program.
INTRO PURCHASE APR 0% for 15 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
for Fees
for Rewards
for Credit

Who Is This Credit Card Best For?

  • Avatar for Entrepreneur Persona
    Is turning their passion into a money-making venture See more cards
  • Avatar for Deal Seeker Persona
    Diligently searches for the best products and delights in a good bargain See more cards
    Deal Seeker
  • Avatar for Savvy Saver Persona
    Prioritizes sticking to their budget while buying what they want and need See more cards
    Savvy Saver
  • Avatar for Road Warrior Persona
    Hits the road often, whether for work or play See more cards
    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 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 promo APR’s, none of them match this card’s combination of more than a year of 0% APR financing and low regular APR.

  • 0% introductory APR on purchases and balance transfers

  • Low ongoing APR

  • No annual fee

  • No rewards or bonus for new cardholder

  • 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 your promotional period is over, you’ll get one of the lower APRs available on a small business card. This applies to both purchases and balance transfers. 
  • No annual fee: This is something that will appeal to everyone. It saves you some money and is in line with industry standards for a card with no rewards or super special perks.

Cons Explained

  • No rewards or bonus for new cardholders: 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 to bring with you if you do business overseas since you’ll pay a 3% fee on any purchases you make.

How to Get the Most Out of This Card

While this card doesn’t offer any rewards, it can be a catalyst for saving you money on interest payments in two different ways. First, if you have a balance on a high-interest credit card, transferring that balance will eliminate interest payments for 15 months. Remember, though: Anytime you make a balance transfer, you’ll pay 3% of the amount you’re moving to this card.

Second, if you have a big purchase coming up, you can spread out the payments over as many as 15 months without paying any financing charges. As such, this card is a good financing option compared to business and personal loans.

The card has a 29.99% penalty APR that kicks in anytime you pay late more than five days twice, you have one payment more than 30 days late, you have a returned payment or exceed your credit limit more than twice in a 12-month period.

Also, keep in mind that business credit cards offer fewer protections than consumer cards. U.S. Bank could change your account terms or interest rates whenever they want.

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

  • Rental car collision insurance (secondary to your own policy)
  • Free employee cards 
  • Travel and emergency hotline
  • Insurance for stolen or damaged purchases
  • Extended warranties

You can get up to 10 employee cards sent to you automatically when you fill out your application. If you need more than 10 cards you’ll have to call U.S. Bank’s cardmember services department (the number is on the back of your card.)

Customer Experience

U.S. Bank finished last out of eight banks in J.D. Power’s 2020 U.S. Small Business Credit Card Satisfaction Study. The bank scored 814 points, well below the industry average of 840.

U.S. Bank 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

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.

Next Steps
For U.S. Bank Business Platinum Card
Compare This Card
See how this card stacks up to the competition
U.S. Bank Business Platinum Card
overall rating
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
Regular APR (%) 11.99% - 20.99% 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.

Article Sources

The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .
  1. J.D. Power. "Credit Card Companies’ Support for Small Businesses during COVID-19 Not Enough to Drive Customer Satisfaction, J.D. Power Finds." Accessed Nov. 21, 2021.