U.S. Bank Business Platinum Full Card Review
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Generous 0% APR offer, plus possibly low ongoing APR
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No annual fee
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No rewards or bonuses
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Minimal benefits
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US Bank Small Business Credit Card Customer Service Is Below Average
The benefits explained
- Generous 0% APR offer, lowest ongoing APR: US Bank Business Platinum is primarily, if not uniquely, unique in how it accommodates businesses that want or expect to hold a balance on the card for a period of time. It’s not easy to find a business card that offers 0% APR for a year on purchases and balance transfers, but this card goes above and beyond and offers it for 20 billing cycles. Ideally, of course, you should pay off any balance you accumulate under a 0% APR offer before the deal expires, to avoid interest charges. If you can’t, however, the US Bank Business Platinum card offers an unusually low APR after its 20-month introductory period of 0% APR ends. You would then pay interest in the range of 14.24% to 23.24%, a range well below the going rates for most other cards. All in all, it is indeed an attractive option if you are looking for a card to help you manage your cash and provide relatively affordable APRs. However, you will need good credit to land in the favorable end of the range.
- No annual fee: There is no annual cost for US Bank Business Platinum. There is also no charge for additional employee cards, as is the case with almost all other business cards.
Disadvantages Explained
- No rewards or bonuses: Many corporate rewards cards offer miles, points or cash back on purchases. US Bank Business Platinum is not part of this group. The card does not have a rewards program nor does it offer any introductory bonuses. This card goes in a different direction, its main purpose being to serve as a low-interest purchase and balance transfer option for business owners.
- Minimal benefits: To say the least, this card is light on features and benefits. It only offers some of the standard business card perks, such as free cards for employees and tools to help track expenses. There are none of the travel benefits offered by some cards, such as insurance coverage for rental cars.
- US Bank small business credit card customer service is below average: Companies do not necessarily interact very often with their credit card issuer. But when it’s needed, it’s often a matter of urgency and even stress, and you want a satisfying experience. Unfortunately, that’s less likely to be the case for companies that deal with US Bank, according to JD Power research. In JD Power’s 2021 US Small Business Credit Card Customer Satisfaction Study, US Bank ranked last out of eight national card issuers and, at 819 points, scored significantly below average. of 852.
The US Bank Business Platinum card is ideal for business owners who plan to spend a lot of money soon or who have a balance on another credit card that they would like to transfer to a low interest rate account. The promotional APR offer for this card extends 0% interest for 20 months on purchases and balance transfers. If you still have a balance at the end of this period, the card’s current APR should be significantly lower than other cards you own as long as your credit puts you in the lower end of the APR range.
Standard Benefits
- Free additional employee cards
- Customize employee card usage with expense controls
- Online expense tracking
- Pay with mobile wallets
Cardholder Experience
US Bank ranked last out of eight card issuers in JD Power’s 2021 US Small Business Credit Card Satisfaction Study. The bank scored 819, which was well below the 852-point average.
As a US Bank customer registered for online banking, you can enjoy free access to your TransUnion credit score which is updated once a month through the CreditView dashboard. You can speak to a US Bank customer service representative at any time by calling 866-485-4545.
Security functions
The US Bank Business Platinum Card has the security features you expect from a business credit card. Including:
- Zero Fraud Liability
- chip technology
- 24/7 fraud monitoring
You can also set up alerts to receive transaction notifications for your account. This can make it easier to manage your account and monitor for fraud or suspicious activity.
Fees to watch
Some cards waive both balance transfer fees and foreign transaction fees, but US Bank Business Platinum is not part of this group. Balance transfers will cost you 3% or $5, whichever is greater, while foreign transactions will cost 3%.
Our opinion
US Bank Business Platinum is worth checking out primarily – or perhaps only – if you’re interested in a no-frills business credit card that offers a 0% introductory APR on purchases and balance transfers for a very long time. . Such an offer is not easy to find with a card with no annual fee.
On the other hand, if these conditions do not apply to you, you will probably want to consider other business credit cards. Even other US Bank business cards might be better choices, but keep in mind the bank’s below-average rating for customer satisfaction.
The US Bank Triple Cash Rewards Visa Business Card offers 3% cash back on eligible purchases from gas, electric vehicle charging, restaurants, office supply stores and cell phone providers, as well as 1% cash back on all other purchases. But this card, like the US Bank Business Platinum, charges foreign transaction fees, making either card a questionable choice for traveling or ordering from abroad.