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U.S. Bank Business Platinum Card

Cory Santos

| Last updated on April 2nd, 2024

U.S. Bank Business Platinum Card

U.S. Bank Business Platinum Card
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Excellent / Good
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None Annual Fee

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

In-Depth Review: U.S. Bank Business Platinum Card

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 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 no annual fee card is sure to be the belle of the ball.

Who Can Benefit from the Platinum Business Card?

Low APR business credit cards, like the U.S. Bank Business Platinum Visa, can be particularly beneficial for companies that may carry a balance from month to month or require financing for large purchases or unexpected expenses.

Smaller businesses, startups, and entrepreneurs often find low APR and balance transfer credit cards advantageous as they may have limited access to capital and need to manage cash flow effectively. These cards can provide them with a cost-effective way to finance their operations, make necessary purchases, and manage their working capital.

Credit Needed

Most U.S. Bank business cards, including the Business Platinum Card, require a good to excellent credit score, typically a FICO score of 670 or higher or a VantageScore of 661 or higher, for approval.

Application Information

When applying for the U.S. Bank business credit cards, you will need to provide the following information:

  • Personal Information: Name, address, date of birth, Social Security number/ITIN, and personal income.
  • Business Information: Business structure, Employer Identification Number (EIN), legal business name, country business was formed in, year business started, business physical mailing address, business gross annual revenue, and industry type.
  • Co-Owners Information: The name, address, date of birth, and Social Security Number/ITIN of individuals with at least 25% controlling and/or financial interest in the business.
  • Employee Cards Information: If applicable, information for each additional employee card requested, including name, date of birth, Social Security Number/ITIN, and anticipated monthly spend on the card.

Introductory APR Benefit

The U.S. Bank Business Platinum Card is a business credit card that gets down to business, thanks to its lengthy introductory APR periods. New accounts enjoy 0% intro APR on purchases and balance transfers for the first 18 months. Once those 0% APR periods expire, companies can expect a highly competitive regular APR significantly lower than the national average for a small business credit card.

It’s worth noting that not all balance transfers qualify for 0% APR. instead, only balances transferred within the first 30 days of account opening apply towards that promotional financing. Still, the Platinum Card provides one of the best balance transfer and financing card options available.

U.S. Bank Benefits

The U.S. Bank Business Platinum Card offers several notable business features, including:

① Customer service Like Discover, Chase, Amex, and other major issuers, U.S. Bank provides 24/7, U.S.-based customer service for all of its credit cardholders
② EMV chip While the bank states that “select cards” feature chip technology, in reality, all new U.S. Bank credit card products come with EMV chip technology. This technology provides an additional layer of security for point-of-sale purchases.
③ Free TransUnion credit score access All cardholders receive complimentary access to their TransUnion credit score each month.
④ FlexControl™ U.S. Bank also provides free card management tools via its FlexControl™ budgeting tools. These resources include automatic payment tools, account alerts, and more.
⑤ No penalty APR U.S. Bank cards don’t feature a penalty APR – a great feature that doesn’t penalize cardholders who miss payments.

Complimentary Employee Cards

Another nice feature of the U.S. Bank Business Platinum Card is the availability of extra employee cards at no additional cost. This is a good savings over other business 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 customizing how much each cardholder is authorized to spend.

Visa® Business Benefits

Zero Fraud Liability Roadside Dispatch Cardholder Inquiry Services Purchase and Extended Protection
Lost/Stolen Card Reporting Emergency Card Replacement Auto Rental Collison Damage Waiver Travel and Emergency Assistance Services

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, or 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.

Finally, companies enjoy spending and account management courtesy of Visa Spend Clarity. Visa Spend Clarity is a suite of end-to-end spend management solutions designed to empower businesses of all sizes and levels of complexity to control spending, maximize visibility, and optimize cash flow.

U.S. Bank Ratings

How does the U.S. Bank rate as a lender? Here is a selection of expert reviews for U.S. Bank and its credit card products:

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. An introductory 0% APR bolsters the card’s attractive 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. 

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