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U.S. Bank Business Platinum Card Review…

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U.S. Bank Business Platinum Card

?Fit Small Business’s ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card’s rates, fees, rewards, and additional features like insurance.

Best For: Extended 0% APR period on purchases and balance transfers


Intro APR
?0% APR for 20 billing cycles on purchases and balance transfers

Regular APR

Annual Fee

Credit Needed
0%* 9.99% – 17.99% Variable $0 Excellent
  • 0% Intro APR* on purchases and balance transfers for the first 20 billing cycles. After that variable APR currently 9.99% – 17.99%*
  • No annual fee*
  • Free employee cards
  • Zero fraud liability* protects you against unauthorized transactions
Pros
  • One of the longest 0% APR period offered
  • No annual fee
  • Extended warranty protection: U.S. Bank will double an original manufacturer’s warranty up to an additional one year for warranties of three years or less. Coverage is limited to $10,000 per item.
  • Purchase protection: U.S. Bank offers purchase protection for items that are damaged or stolen within 90 days of purchase. The coverage is limited to $500 per claim and up to $50,000 per cardholder, per year.

The U.S. Bank Business Platinum Card is an excellent card for businesses that want to limit the cost of carrying a balance without having to pay an annual fee. This business credit card allows owners to customize and control their employees’ cards. A free online tool is also available to make expense monitoring more easily accessible.

Who U.S. Bank Business Platinum Card is Best For

  • Owners who frequently carry a balance: U.S. Bank Business Platinum Card offers a low ongoing annual percentage rate (APR) that could help businesses save hundreds to thousands of dollars in financing payments annually, especially if they carry a significant balance.
  • Owners looking to finance a large purchase for free: U.S. Bank Business Platinum Card offers a 0% introductory APR for the first 20 billing cycles, which means you can charge a large purchase without having to pay APR as long as you pay it in full before the promotion period ends.

How We Evaluate Low-interest Business Credit Cards

When grading a low-interest business credit card like the U.S. Bank Business Platinum Card, we weigh the introductory and ongoing APR the heaviest. We also take into account introductory and ongoing rewards as well as additional features, like purchase protection and extended warranty protection.

Grading Criteria

Card Score

Highest Possible Score

Introductory APR

35

35

Ongoing APR

35

35

Features

8

10

Introductory Rewards

0

10

Ongoing Rewards

0

10

Total Score

78

100

U.S. Bank Business Platinum Card Fees

  • Introductory APR: 0% on purchases and balance transfers for the first 20 billing cycles
  • Ongoing APR: 9.99% to 17.99% variable, which will adjust with the prime rate
  • Annual fee: None
  • Balance transfer fee: $5 or 3% of the transfer during application, whichever is greater
  • Foreign transaction fee: 3% of each foreign transaction
  • Cash advance fee: $10 or 5% of the advance, whichever is greater; cash advance APR is 23.99% variable

U.S. Bank Business Platinum Card Rewards

The U.S. Bank Business Platinum Card offers no introductory or ongoing rewards, which is rare, even among credit cards that charge low APR. The key benefits of having a U.S. Bank Business Platinum Card include its competitive introductory and ongoing rate while enjoying full purchasing power and business control.

U.S. Bank Business Platinum Card Features

Auto Rental Collision Damage Waiver

Car rentals paid with U.S. Bank Business Platinum Card are covered up to the cash value of the vehicle in case of accident or theft. Coverage is secondary if you have personal auto insurance, which means you’ll have to file a claim with your insurance company first. U.S. Bank will refund your insurance deductible. Physical damage, loss due to theft, towing charges, and charges imposed by the vehicle rental company are included with the coverage.

Purchase Protection

Items that are damaged and stolen within 90 days of purchase are covered with purchase protection. The items must be purchased with your U.S. Bank business credit card to be eligible. Coverage is limited to $500 per claim, up to $50,000 per cardholder. Some items are not included with the coverage, such as animals, automobiles, collectibles, jewelry, and items for resale.

Extended Warranty Protection

Manufacturer warranties of three years or less are covered with extended warranty protection up to an additional one year from expiration. U.S. Bank will replace the item or reimburse you up to the amount charged on your U.S. Bank card, up to a maximum of $10,000. Purchases that are not covered by extended warranty protection include motorized vehicles, real estate, computer software, medical equipment, and items for resale.

Travel and Emergency Services

Visa will provide a concierge service that offers travel, emergency, medical, and legal assistance 24 hours a day. This service is available to the cardholder, the cardholder’s spouse, and dependent children age 22 and younger. While the number is toll-free, you will be responsible for the cost of any assistance provided.

Account Management Tools

The U.S. Bank Business Platinum Card comes with a number of account management tools that can help your business manage risk. This includes payment controls, which allows you to customize your employees’ business credit card so that you can manage when, where, and how your employees use their cards. It comes with a liability waiver that covers eligible transactions made 75 days prior to or up to 14 days after you terminate an employee. The online reporting tool also makes it easier to track and monitor expenses.

U.S. Bank Business Platinum Card Alternatives

Bank of America® Platinum Plus® Mastercard® Business Card

Bank of America® Platinum Plus® Mastercard® Business card

Fit Small Business Review

?Fit Small Business’s ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card’s rates, fees, rewards, and additional features like insurance.

Best For: Low-interest financing on business purchases


Intro APR

Regular APR

Annual Fee

Credit Needed
0%
7 billing cycles
10.24% – 21.24% Variable APR on purchases $0.00 Excellent
  • Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening.
  • Save on interest with a competitive purchase APR.
  • No annual fee.
  • 0% Introductory APR on purchases for your first 7 billing cycles.
  • Employee cards at no additional cost to you and with credit limits you set.
Pros
  • One of the lowest APRs available on a business credit card
  • 0% APR period
  • No annual fee
Cons
  • No cash back or points rewards
  • 0% APR excludes balance transfers
  • No-interest period is shorter than other cards

Bank of American does not disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.

American Express Blue Business® Plus

The Blue Business® Plus Credit Card from American Express


Apply Now

on The Blue Business® Plus Credit Card from American Express’s secure website.

Fit Small Business Review

?Fit Small Business’s ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card’s rates, fees, rewards, and additional features like insurance.

Best For: Pocketing 2x points per $1 and 0% introductory APR for 12 months


Intro APR
?0% introductory APR for 12 months on purchases

Regular APR

Annual Fee

Credit Needed
0% on purchases 13.24% – 19.24% Variable No annual fee Good, Excellent
  • Earn up to $300 back to boost your business. You can earn up to $100 in the form of statement credits at each of the following merchants: Dell Technologies, DocuSign or FedEx after you make an eligible purchase on your new Card within the first 3 months of Card Membership.
  • Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
  • Enjoy the flexibility to put more purchases on the Card and earn rewards when you buy above your credit limit*.
  • You’ve got the power to use your Card beyond its credit limit* with Expanded Buying Power.
  • More buying power for your business means more opportunities to earn points. That’s everyday business with the Blue Business Plus Card.
  • *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors.
  • 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.24% – 19.24%, based on your creditworthiness and other factors at account opening.
  • No Annual Fee
  • Terms Apply
Pros
  • 0% APR for 12 months on purchases and balance transfer
  • Earn 2x points on all spending
Cons
  • No lucrative welcome offer
  • 2x points rewards are capped at $50,000 in spending
  • Extended warranty protection: American Express will match the length of the original manufacturer’s warranty if it’s less than two years. It provides an additional two years if the original manufacturer’s warranty is between two and five years. Coverage is limited to $10,000 per occurrence and $50,000 per account each year.
  • Purchase protection: The issuer will repair, replace, or reimburse you for an item purchased with the card that was damaged or stolen within 120 days of purchase. Coverage is limited to $1,000 per occurrence and $50,000 per account each year.

Bank of America® Business Advantage Cash Rewards Mastercard®

Bank of America® Business Advantage Cash Rewards Mastercard® credit card


Apply Now

on Bank of America® Business Advantage Cash Rewards Mastercard® credit card’s secure website.

Fit Small Business Review

?Fit Small Business’s ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card’s rates, fees, rewards, and additional features like insurance.

Best For: Up to 3% cash back in a spending category of your choice


Intro APR
?0% APR for nine billing cycles on purchases

Regular APR

Annual Fee

Credit Needed
0%
9 billing cycles
12.24% – 22.24% Variable APR on purchases $0.00 Excellent
  • Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening – with no annual fee and cash rewards don’t expire.
  • Earn 3% cash back in the category of your choice, 2% cash back on dining and unlimited 1% cash back on all other purchases.
  • You’ll get 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
  • 0% Introductory APR on purchases for your first 9 billing cycles.
  • Redeem your cash rewards as a statement credit, check, or have cash deposited into a Bank of America® checking or savings account.
  • Get 75% more cash back on every purchase when you’re a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 5.25% on your selected choice category, 3.5% on dining and unlimited 1.75% cash back on all other purchases.
Pros
  • Statement credit introductory bonus offer
  • Low ongoing APR
Cons
  • Highest rewards are capped at $50,000 each year
  • Earns top rewards in only one spending category

Bank of American does not disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.

Bottom Line

The U.S. Bank Business Platinum Card is best designed for businesses that need to charge a large purchase or transfer a balance because it offers 0% introductory APR for 20 billing cycles. This low-interest credit card does not charge an annual fee. However, it also does not offer rewards. Compare other business credit cards if you need a card that offers a rewards structure.


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