U.S. Bank Visa® Platinum Card Review

This card has an above average APR for a balance transfer card, with 18.74%-29.74% APR (variable) applying to all purchases after the introductory period and any balance transfers made after the first 60 days. Before you apply, make sure you have a plan to pay off any large purchases or transferred balances within the intro APR period to avoid being subject to interest on any remaining balance.

You will pay 3% of each transfer amount or $5 minimum, whichever is greater when you transfer your balances to U.S. Bank Visa® Platinum Card. This means that it is important to compare the balance transfer fee you will pay versus the potential interest savings to see if it makes sense to transfer your balance.

One of the standout features of the U.S. Bank Visa® Platinum Card is its cell phone protection coverage. If you pay your phone bills using this card, you will be covered for cellphone theft or damage up to $600. A $25 deductible and you're limited to two claims in a 12-month period.

There's no annual fee when you get this card, which is fairly typical for a balance transfer card. It means you can focus on paying down your new or transferred balance without having to pay for the privilege as well.

You'll get 0% APR for the first 18 billing cycles on your purchases and balance transfers made within the first 60 days (followed by 18.74%-29.74% variable APR). This is a pretty long intro APR period - the longest available anywhere is 21 months - so it's a good option if you have a hefty balance or a large upcoming purchase. That said, the regular APR will kick in at the end of the intro offer, so make sure you have a payoff plan to make progress on your debt before your 0% APR window is up.

This card has no rewards program, meaning it has limited ongoing value beyond the intro APR period. It also does not have a welcome bonus, which is not unusual, although some balance transfer cards do offer moderate sign-up bonuses.