Last updated on February 24th, 2023
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U.S. Bank Business Platinum Card
U.S. Bank Business Platinum Card
- 17.24% to 26.24% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 17.24% to 26.24% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 29.99% variable based on the Prime Rate Cash Advance APR
- 0% for 20 months from account opening date Intro Purchase APR
At a Glance
The U.S. Bank Business Platinum Card is a basic, no-frills business card that offers 0% introductory APR for the first 20 months, and an excellent purchase APR well below what’s available from competitor cards for those with excellent credit scores. While the card itself offers no rewards, members can enroll in Visa® SavingsEdge®, which allows companies to save up to 15% off qualifying business purchases made using the card.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Limited time offer: 0% Intro APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan
- Expense management tool VISA Spend Clarity is free to access and sync expenses, set employee card controls, generate reports, and more
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Intro Purchase APR: 0% for 20 months from account opening date
- Regular Purchase APR: 17.24% to 26.24% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 20 months on transfers made within 30 days from account opening date
- Balance Transfer APR: 17.24% to 26.24% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
- Cash Advance APR: 29.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
- Penalty APR: 29.99%
- Foreign Transaction Fee: 3% of the transaction amount in U.S. Dollars
- Late Payment Penalty Fee: Up to $39
- Return Payment Penalty Fee: $35
- Over Limit Penalty Fee: $39
- You're a business owner looking for a hassle-free card with a great APR
- You aren’t worried about earning rewards or cash-back on purchases
- You want a card with no annual fee
The U.S. Bank Business Platinum Card Review
When it comes to a solid business rewards credit card, beauty is in the eye of the beholder. Such is the case with the U.S. Bank Business Platinum Card. This card isn’t going to attract people with dazzling sign up bonuses or crazy rewards – but for those who know what they are looking for in a business credit card, this one is sure to be the belle of the ball.
The U.S. Bank Business Platinum Card is certainly a no-frills, straightforward business card, but that’s not to say it isn’t an attractive choice. To begin with, for those companies with excellent credit, they will enjoy purchase and balance transfer APRs well-below those of other comparable cards. On average, those with exceptional credit can expect an APR nearly 3% lower than can be found elsewhere. The exceptional APR of the Business Platinum Card is even more enticing when you realize that this low rate applies after an initial 20 months of 0% introductory APR.
That’s not to say that the U.S. Bank Business Platinum Card doesn’t have any other party tricks in store. As this is a Visa business card, companies can enroll in Visa® SavingsEdge®, which allows companies to save up to 15% off qualifying business purchases made using the card.
Businesses also benefit from a host of other Visa services, including an Auto Rental Collision Damage Waiver should an employee pay for a rental car with the U.S. Bank Business Platinum Card, waive the coverage offered at the rental counter, and get into an accident. Additionally, Visa offers travel and emergency assistance services worldwide, zero-cost liability insurance for any unauthorized or fraudulent purchases made with the card, and purchase security to cover any damaged or stolen items purchased with the card.
Another nice feature of the U.S. Bank Business Platinum Card is the availability of extra employee cards at no additional cost. These are good savings over other cards, which may charge a fee for additional cards. Visa® also provides payment controls that allow companies to closely monitor how employees use their cards, including customization of how much each cardholder is authorized to spend.
Should You Apply for the U.S. Bank Business Platinum Card?
The U.S. Bank Business Platinum Card may lack thrills, but it offers robust purchasing power for companies that prefer performance over perks. The card’s attractive APR is bolstered by an introductory 0% APR for the first 20 months. The savings are further increased with access to Visa SavingsEdge, which allows companies to receive an additional 15% discount on qualifying business purchases – all for no annual fee.
Other business credit cards to consider include Chase’s Ink cards, including the Chase Ink Business Cash and the Ink Business Unlimited – both excellent cash back options that feature no annual fee. The Ink Business Preferred also offers value but earns Ultimate Rewards points and not cash back.