There are dozens of banks that offer credit cards, and consumers are justified if they occasionally feel overwhelmed by all of their choices. Yet sometimes the best choice among the pile of credit card offers is not just the one with the most features and benefits, but the one that offers the most conveniences. US Bank offers its Visa Platinum card that allows both new customers and existing US Bank account holders to manage their account as easily as possible.
What the US Bank Platinum Card Offers
When a customer receives the US Bank Visa Platinum card, they will be entitled to a 0% APR offer on both purchases and balance transfers for the first 15 months. All balances transferred within the first 30 days of opening an account will be subject to a 3% balance transfer fee. After 30 days the balance transfer fee increases to 4%. Following the promotional financing period, the standard APR will be equal to the Prime Rate plus 6.74-20.74%, depending on the applicant’s credit worthiness. There is no annual fee for this card, but there is a foreign transaction fee of 3% on all charges processed outside of the United States.
Analysis
This card is a great product for existing customers of US Bank. As one of the largest retail banks in the United States, current holders of checking and savings accounts there can manage their credit card too in one place. This is also a very simple product with no reward schemes to keep track of. Finally, the 0% financing offer for 15 months on both new purchases and balance transfers is very competive.
This card offers standard rental car insurance, but no other significant rewards or benefits. In addition, the range of interest rates offered varies greatly between some fairly low rates to some that are quite high. As with all cards of this type, the applicant will only find out the rate received after the application is submitted and approved.
This card is ideal for those who are looking for a simple card with few complicate terms and conditions. This card is also ideal for existing customers of US Bank who wish to pay their credit card bill simply by transferring money from one account to another within the same institution. By combining a valuable promotional financing offer with an uncomplicated product, US Bank’s Visa Platinum card will easily find its way into the wallet of a large number of its customers.
