If your business is looking for a $0 annual fee card with a long introductory APR period on purchases and balance transfers purchases and balance transfers, then the U.S. Bank Business Platinum Card
*
The information for the U.S. Bank Business Platinum Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
fits the bill.
Just know that besides the intro APR offer, this card doesn’t earn rewards or offer much else in terms of benefits. We’ll cover what you need to know in our U.S. Bank Business Platinum card review.
U.S. Bank Business Platinum basics
- Annual fee: $0.
- Welcome bonus: None.
- Rewards: None.
- APR: 0% intro APR on purchases and balance transfers for 18 billing cycles, followed by a variable APR of 17.24% to 26.24%. A balance transfer fee of either 3% of each transfer or $5 minimum, whichever is greater, applies.
- Recommended credit score: Good to excellent.
- Other benefits: ExtendPay, free employee cards.
U.S. Bank Business Platinum review
The U.S. Bank Business Platinum Card is designed specifically for businesses seeking a lengthy intro APR period for purchases and/or balance transfers. This card offers no rewards, charges a foreign transaction fee, has no welcome bonus or other noteworthy benefits, so the only reason you’d apply is to use the card for its lengthy intro APR.
If you want to save on interest charges for over a year, then the U.S. Bank Business Platinum can help you do that. Just know that there are other business credit cards that offer both a rewards program as well as intro APR promotions, but the U.S. Bank Business Platinum offers one of the longest no-interest periods among competing business cards in this category you’ll find.
Pros
- Long intro APR: Save on interest charges for over a year for both purchases and balance transfers.
- ExtendPay Plan: Once the intro APR promotion expires, you may be able to finance purchases through a fixed payment program for a monthly fee not to exceed 1.6% of the purchase amount.
- No annual fee: It won’t cost your business anything for card ownership.
Cons
- No rewards: The U.S. Bank Business Platinum does not earn cash back, points or miles on your purchases.
- Foreign transaction fee: If you’re traveling abroad, you’ll want to leave this card at home as it charges a fee of 3% of each foreign transaction, which is added to any purchases you make outside the country.
- Limited travel benefits: This card does not come with travel protections or travel credits other than secondary car rental protection and roadside dispatch.
U.S. Bank Business Platinum APR
The U.S. Bank Business Platinum offers one of the longest introductory offers of any business card. You’ll get a 0% intro APR on purchases and balance transfers for 18 billing cycles, followed by a variable APR of 17.24% to 26.24%. A balance transfer fee of either 3% of each transfer or $5 minimum, whichever is greater, applies. Note that you cannot transfer a balance from one U.S. Bank card to another.
U.S. Bank Business Platinum drawbacks
If your business is looking to earn cash back, miles or points on your purchases, the U.S. Bank Business Platinum won’t help you do that. It doesn’t offer much in the way of benefits, travel protections or travel credits either.
The only aspect of this card that makes it stand apart from other business cards is its lengthy 18-month intro APR on purchases and balance transfers. Just know that there are consumer cards offering even longer intro APRs than the U.S. Bank Business Platinum, such as the Wells Fargo Reflect® Card
*
The information for the Wells Fargo Reflect® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
which offers 0% intro APR for 21 months from account opening on purchases and on qualifying balance transfers made within the first 120 days, afterwards a 18.24%, 24.74%, or 29.99% variable APR applies. There’s a balance transfer fee of 5% with a $5 minimum.
How the U.S. Bank Business Platinum compares to other business balance transfer cards
When choosing which business balance transfer card is best for your enterprise, here are a few competing cards to also consider.
U.S. Bank Business Platinum vs. U.S. Bank Triple Cash Rewards Visa® Business Card
*
The information for the U.S. Bank Triple Cash Rewards Visa® Business Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
A more robust U.S. Bank business card that also offers an intro APR on purchases and balance transfers — 0% intro APR on purchases and balance transfers for 15 billing cycles, followed by a variable APR of 19.24% to 28.24% (balance transfers must be completed within 30 days to qualify for the intro rate). A balance transfer fee of either 3% of each transfer or $5 minimum, whichever is greater, applies — is the U.S. Bank Triple Cash Rewards Visa® Business Card
*
The information for the U.S. Bank Triple Cash Rewards Visa® Business Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
.
For a $0 annual fee, cardholders can earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center, 3% cash back at gas and EV charging stations, office supply stores, cellphone service providers and restaurants and 1% cash back on all other eligible purchases.
Plus, there is a welcome bonus of $500 in cash back after spending $4,500 on purchases in the first 150 days of account opening.
U.S. Bank Business Platinum vs. State Farm® Business Cash Rewards Visa Signature® Card
*
The information for the State Farm® Business Cash Rewards Visa Signature® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
The State Farm® Business Cash Rewards Visa Signature® Card
*
The information for the State Farm® Business Cash Rewards Visa Signature® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
is also issued by U.S. Bank and has a 0% intro APR for the first 12 billing cycles on purchases and on balance transfers made within 60 days from account opening. After that, a 19.24% to 28.24% variable APR applies. A balance transfer fee of either 3% of the amount of each transfer or $5 minimum, whichever is greater, applies.
Where this card shines is that it offers 3% cash back on insurance premium payments (up to $4,000 spent annually), 3% cash back at gas stations and electric vehicle charging stations, cell phone service providers, office supply stores and on dining and 1% cash back on all other eligible purchases. That makes it a better choice long-term than the U.S. Bank Business Platinum.
U.S. Bank Business Platinum vs. PNC Visa® Business Credit Card
*
The information for the PNC Visa® Business Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
The PNC Business Visa has an intro APR as well, but just for balance transfers, offering 0% intro APR for the first 13 billing cycles following account opening when the balance is transferred within the first 90 days following account opening. Then a variable APR of 15.24% to 25.24% applies on both purchases and balance transfers. There’s a balance transfer fee of $5 or 3% of the amount of each balance transfer, whichever is greater. While there is no annual fee or rewards program with this card, there is the possibility of qualifying for the lower end of the ongoing APR range once the intro balance transfer APR expires. If your business tends to carry a balance, this might make it a better choice for you. But if you’re looking for an offer on purchases, the U.S. Bank Business Platinum has one of the longest ones out there.
U.S. Bank Business Platinum is right for you if:
- You want a long intro APR on purchases and balance transfers. If your primary objective is to get a reprieve on interest charges for more than a year for either purchases or a balance transfer, the U.S. Bank Business Platinum offers 18 months of no interest.
- You don’t want to pay an annual fee. Along with saving money on interest charges for 18 months, you also won’t be assessed an annual fee for carrying this card.
- Simplicity is key for you with a new card. If you already have another rewards card for your business or are just not interested in a credit card rewards program, but you do want a card to help you finance a large purchase or transfer a balance to, then know that the U.S. Bank Business Platinum offers one of the longest intro APR periods among its competitors.
Frequently asked questions (FAQs)
Your credit limit will depend on multiple factors, including your income, business revenue, credit standing, outstanding debts and more.
According to U.S. Bank, to qualify for a credit limit above $25,000, you will have to submit the last two years’ worth of financial statements as well as an accountant-prepared balance sheet and yearly income statements for the past two years or two years of company tax returns.
You will need a good to excellent credit score in order to qualify for the U.S. Bank Business Platinum Card. According to FICO, that means your credit score should range between 670 to 850.
Your minimum payment will be the greater of $40 or 1% of your balance, excluding any fixed payment program balances, plus any interest charges and fees. If your balance exceeds the credit limit, you will also be responsible for paying the overage.
No. In order to qualify for the U.S. Bank Business Platinum Card, you’ll need to meet the credit requirements (having a credit score in the 670 to 850 range) as well as have a business.
As with many business card applications, you’ll be asked to include information such as your Employer Identification Number (EIN), the year you started your business, your gross annual revenue, industry type, legal business name, the year you started your business and more.
