U.S. Bank Business Platinum Card Review
This is a credit card designed to help business owners save money right from the start. There is an extended introductory 0% APR period, plus free business management tools to help you manage and track your company’s spending.
U.S. Bank Business Platinum Card
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Key Features
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- Enjoy an introductory limited time offer of 0% APR for 18 billing cycles on both new purchases and balance transfers (then reg_apr,reg_apr_type).
- This card offers free access to Visa Spend Clarity which is an expense management tool that allows you to generate reports, sync expenses, set employee card controls and more.
- The card also offers free access to the U.S. Bank ExtendPay Plan which gives you the option of dividing eligible purchases into equal monthly payments.
- There is no rewards plan offered with this card so you will not earn any rewards on purchases made with the card.
Blue Cash Preferred® Card from American Express
discontinued_disclaimerWhether you own a mom and pop business on Main Street or you’re the CFO of Fortune 500 company, every dollar counts. And when an opportunity to save money presents itself, it is worth careful consideration.
The U.S. Bank Business Platinum Card presents just such an opportunity, with an introductory limited time offer of 0% APR for 18 billing cycles on both new purchases and balance transfers (then RegAPR). While it doesn’t have the bells and whistles of some other business credit cards, its simplicity and cost-savings features make it worthy of strong consideration as an addition to your company’s wallet.
WHAT ARE THE BENEFITS OF THE U.S. Bank Business Platinum Card?
The U.S. Bank Business Platinum Card is your classic "meat and potatoes" business credit card. It has no rewards program, so you don’t have to concern yourself with how to use the card in order to make the most of its benefits.
What makes the U.S. Bank Business Platinum Card so appealing is its ability to start saving you money from day one. For a limited time, new card members get an intro 0% APR for 18 billing cycles on new purchases, as well as on balance transfers. After the introductory period, the standard APR is RegAPR, depending on your credit worthiness.
As an added bonus, U.S. Bank Business Platinum Card has a AnnualFees annual fee.
Additional benefits include free access to Visa Spend Clarity and the U.S. Bank ExtendPay Plan.
Visa Spend Clarity is an expense management tool that allows you to generate reports, sync expenses, set employee card controls and more.
The U.S. Bank ExtendPay Plan gives you the option of dividing eligible purchases into equal monthly payments.
HOW CAN THE U.S. Bank Business Platinum Card HELP YOUR BUSINESS?
The intro 0% APR for 18 billing cycles on new purchases and balance transfers benefits your business in three ways. First, of course, is the direct interest savings, which can be game-changing for a small business. Second, 0% interest on balance transfers provides a great opportunity to pay off existing debt more quickly. Finally, by reducing your debt load, you can improve the credit rating of your business, providing greater opportunity for future growth.
Also, the benefits of free access to Visa Spend Clarity should not be overlooked. This is a valuable tool, particularly for small business owners looking to grow. It saves you time and money by generating reports, tracking expenses and helping you make wise fiscal decisions.
WHAT ARE THE POTENTIAL DOWNSIDES OF THE U.S. Bank Business Platinum Card?
While there is a 0% APR on balance transfers for 18 billing cycles, the U.S. Bank Business Platinum Card does charge a balance transfer fee of BalanceTransferFees.
The U.S. Bank Business Platinum Card also has no rewards program of any type. While it can take some man-hours to make the most of a credit card rewards program, the benefits can add up quickly if you have a great deal of business expenses, especially involving travel.
HOW DOES THE U.S. Bank Business Platinum Card COMPARE TO OTHER BUSINESS CARDS?
U.S. Bank Business Platinum Card vs. The American Express Blue Business Cash™ Card
Choosing between these two cards is a matter of taste and business priorities. Both are solid choices for your business wallet. Neither charges an annual fee, always a good place for a business credit card to start. American Express is a CardRatings advertiser.
The biggest differences between the cards have to do with the introductory APR and the rewards programs offered by each.
U.S. Bank Business Platinum Card offers 0% APR for a dazzling 18 billing cycles for both new purchases and balance transfers (then RegAPR). The American Express Blue Business Cash™ Card offers an intro 0% APR for just 12 billing cycles and only for new purchases. After the introductory period expires, RegAPR APR applies.
AmeX Blue Business Cash offers a simple rewards program, awarding 2% cash back on all eligible purchases on the first $50,000 spent per calendar year. Plus, new cardholders can earn a signup_reward statement credit after you make signup_bonus_spend_amount in purchases on your card in your first three months. As mentioned above, U.S. Bank Business Platinum Card offers no bonus or rewards program of any type.
U.S. Bank Business Platinum Card vs. Ink Business Cash® Credit Card
Again, this is a case of one card with a superior introductory APR offer versus a card that offers a lucrative rewards program.
U.S. Bank Business Platinum Card stands alone with its intro offer of 0% APR over 18 billing cycles for both new purchases and balance transfers. After that the standard APR is RegAPR. Chase Ink Business offers 0% APR for just 12 months for new purchases and has no introductory APR on balance transfers. After that, the standard APR is RegAPR.
On the other hand, while U.S. Bank card has no rewards program, Ink Business Cash® Credit Card awards 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year; 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year; and unlimited 1% cash back on everything else. Ink Business Cash® Credit Card also offers an attractive bonus of signup_reward when you spend signup_bonus_spend_amount on purchases in the first signup_bonus_timeframe after account opening.
U.S. Bank Business Platinum Card vs. U.S. Bank Business Leverage® Visa Signature® Card
These U.S. Bank sister cards offer some of the same tertiary benefits, such as free access to Visa Spend Clarity and the U.S. Bank ExtendPay Plan, but that is where the similarities end.
U.S. Bank Business Platinum Card has a AnnualFees annual fee. U.S. Bank Business Leverage® Visa Signature® Card has a AnnualFees.
As detailed above, U.S. Bank Business Platinum Card offers new cardholders intro 0% APR for a full 18 billing cycles on new purchases and balance transfers. After the introductory period, the standard APR is RegAPR. In contrast, U.S. Bank Business Leverage® Visa Signature® Card has no introductory APR offer at all. Its standard APR is RegAPR.
On the other hand, U.S. Bank Business Leverage® does offer a lucrative and intuitive rewards program. You can earn 5% on pre-paid hotels and car rentals booked directly through the U.S. Bank Travel Rewards Center. You can also earn 2% for every dollar spent in the two categories you spend the most on each month. This is applied automatically, as your purchases are tracked. You earn 1% on all other purchases. There is no cap on the amount of rewards you can earn and you have the option of redeeming your rewards, at any time, in the form of cash back, statement credits, gift cards, travel or merchandise.
In addition, you can earn a $750 bonus by spending at least $7,500 in eligible purchases over the first 120 days after your card is issued.
IS THE U.S. Bank Business Platinum Card A GOOD CARD?
If you are looking for a card with a strong rewards program, you will want to look elsewhere. However, if you are looking for a simple, no-nonsense card that can have a positive financial impact on your business, the U.S. Bank Business Platinum Card is worthy of consideration.
A AnnualFees annual fee, a highly competitive standard APR, free access to useful financial management tools and an eye-popping intro 18-billing-cycle intro 0% APR on both new purchases and balance transfers (before regular RegAPR APR applies) make this a solid option to add to your company’s wallet.
Disclaimer:The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.
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The American Express Blue Business Cash™ Card: See Rates and Fees
