U.S. Bank Business Platinum Card review: Long 0% Intro APR, especially for a business card

U.S. Bank Business Platinum Card Overview

Card type: Business

The U.S. Bank Business Platinum Card is a no-frills small business credit card whose main benefit is its 0% intro APR offer on both purchases and balance transfers. It does not offer a welcome bonus, nor will you earn rewards on your purchases. There are no annual fees, but the card charges a 3% fee when making purchases outside the U.S.

While most business credit card promotional offers are less than one year, the U.S. Bank Business Platinum card comes with 18 billing cycles of interest-free financing. All purchases made during the promotional period enjoy a 0% APR for the duration of the period. Balance transfers made within 30 days of opening your account also avoid interest throughout the 18 months. Although it charges a 3% fee (minimum $5) on the balance transferred, the savings on interest typically will outweigh that fee. After the promotional period is over, you can pay new charges over time through U.S. Bank’s ExtendPay Plan. This program does not charge interest, but there is a fixed monthly fee.

Employee cards can be added at no additional cost. Business owners can control each card individually to restrict where, when and how much each employee can spend. The card also comes with expense reporting tools that can provide insights into your company’s spending.better.

Who is the U.S. Bank Business Platinum Card good for?

This card is best for small business owners who want more time to pay off their balances, whether it’s on a new purchase or from an existing debt.  With this card’s offer  you can get the supplies, materials or  other goods you need to run your business now while you work to collect the revenue later.

Additionally, if you have existing business debt, the balance transfer offer takes the pressure off your business’ cash flow. You’ll eliminate interest payments to save money. Plus, you can spread payments on the existing debt over the next year and a half. For example, someone with $27,000 in debt (including balance transfer fees), they’d be able to pay it off by making monthly payments of $1,500 for 18 months.

Who shouldn’t get the U.S. Bank Business Platinum Card?

Business owners seeking to earn  rewards on their purchases should not get the U.S. Bank Business Platinum Card. Not only does it not earn rewards, but this card does not offer a welcome bonus either.

This card is also not a good card for businesses that travel internationally or spend  overseas. When you make purchases outside of the U.S., you’re charged a 3% foreign transaction fee on the amount spent. This hidden fee increases the cost of every international purchase.

U.S. Bank Business Platinum Card rates and fees

• Annual fee: $0
• Foreign transaction fee: 3%
• Intro APR: 0% introductory APR for the first 18 billing cycles (after that 17.24%–26.24% variable)
• Purchase APR: 17.24%–26.24% variable, based on creditworthiness
• 0% Balance transfer: 0% introductory APR for the first 18 billing cycles for balances transferred within 30 days from account opening (after that,17.24%–26.24% variable). Either 3% of the amount of each transfer or $5 minimum, whichever is greater

Additional benefits

• Free employee cards. Business owners can simplify expense reimbursement and tracking by giving employees their own credit cards.
• Individual spending limits and controls. The business can control employee spending by customizing limits, restrictions and other factors for each employee card. This can prevent purchases at unwanted merchants and limit how much each person can spend.
• Mobile payments. Credit cards can be linked with mobile devices for quick and convenient purchases with Apple Pay, Google Pay or Samsung Pay.

Credit cards similar to U.S. Bank Business Platinum Card

While the U.S. Bank Business Platinum Card offers a long intro APR, it isn’t the right card for every business. Compare these alternatives to see which one matches your needs the best.

U.S. Bank Triple Cash Rewards Visa Business Card vs. U.S. Bank Business Platinum Card

If you want an intro APR offer but still want to earn rewards, consider other U.S. Bank credit cards. The U.S. Bank Triple Cash Rewards Visa Business Card includes an intro 0% APR offer for 15 months on purchases and balance transfers. After 15 billing cycles, it adjusts to a variable APR, currently ranging from 19.24% – 28.24%. While this promo period is shorter than that of the U.S. Bank Business Platinum Card, you’ll earn stronger rewards. The Triple Cash Rewards card earns 3% cash back on gas and EV charging station, office supply store, cell phone service providers and restaurant purchases and 1% cash back on all other purchases.

The card offers a $500 welcome bonus after spending $4,500 within 150 days. Plus, every year, you’ll receive credits of up to $100 for recurring software subscriptions.

Bank of America Business Advantage Customized Cash Rewards credit card vs. U.S. Bank Business Platinum Card

The Business Advantage Customized Cash Rewards credit card earns 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter. Customers with larger deposit balances with the Bank or Merrill may qualify for Bank of America’s Preferred Rewards, which can increase your cash back by up to 75%. 

New cardholders can earn a welcome bonus of $300 by making $3,000 in purchases during the first 90 days. The card also offers a 0% intro APR on purchases for the first nine billing cycles after opening your account, then a variable APR of 18.49% to 28.49% will apply. While this promotional period is only half what the U.S. Bank Business Platinum Card offers, and lacks a balance transfer offer, the welcome bonus and ongoing rewards of the Customized Cash Rewards card may be more meaningful for  some customers.

Is the U.S. Bank Business Platinum Card right for you?

The U.S. Bank Business Platinum Card is the ideal credit card for small businesses that need to carry a balance but want to avoid paying interest charges for as long as possible. It offers an unparalleled 18 months of interest-free financing for purchases and balance transfers, with a reasonable 3% balance transfer fee. Although it doesn’t earn rewards, there are no annual fees, so it can be an affordable way to gain some interest-free financing.

Business owners who want to earn rewards or make international purchases should look elsewhere as the card doesn’t earn rewards on purchases and it  charges a 3% foreign transaction fee. Beyond that, this card lacks benefits, like travel and purchase protections, that other business credit cards provide.

Frequently asked questions

Is the U.S. Bank Business Platinum Card worth it?

Yes, the U.S. Bank Business Platinum Card is worth it for people who need to carry a balance. Its intro APR offer provides up to 18 months of interest-free financing that allows customers to repay their debt over time. Plus, there are no annual fees, so you can keep the card open to continue building credit for your business.

Can anyone get a Business Platinum card?

Yes, anyone with a U.S.-based business can apply for the U.S. Bank Business Platinum Card. Whether you’re just starting out or have an established business, getting a business credit card is a wise move. This card is available for your business whether you’re  a sole proprietor, LLC, S-Corp, C-Corp or other type of business entity.

How hard is it to get approved for a U.S. Bank business credit card?

Getting approved for a credit card depends on numerous factors, including your credit score, income, monthly obligations and business details. If you have a good credit score and a profitable business, you’ll have stronger approval odds for a business credit card.

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Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying.