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U.S. Bank Business Platinum Card Review

Us Bank Business Platinum Card

Our rating


U.S. Bank Business Platinum Card

  • Sign-Up Bonus: None
  • Rewards: None
  • Benefits: Expense tracking and reporting tools; employee account management suite
  • Intro APR: 0% APR on purchases and balance transfers for 18 months, then variable regular APR applies
  • Fees: 3% foreign transaction fee
  • Annual Fee: $0 (For more information about this card’s rates and fees, visit this terms and conditions page.)
  • Credit Needed: Excellent

The U.S. Bank Business Platinum Card is a perennial contender for placement on our list of the best business credit cards on the market today.

This card merges the best features of a low APR credit card with an excellent 0% APR introductory promotion that applies to purchases and balance transfers. If you’re a frugal business owner looking for help financing a large purchase or seeking to pay down existing high-interest credit card debt, this card is worth a closer look.

One thing this card isn’t good for: earning rewards. If your top priority is to earn a return on everyday spending, and not just avoid interest charges on balances carried from month to month, check out one of U.S. Bank’s rewards-bearing business credit cards.

Otherwise, read on to learn more about U.S. Bank Business Platinum Card’s features, upsides, downsides, and overall suitability.

Key Features

Introductory APR

The U.S. Bank Business Platinum Card has a 18-month, 0% APR introductory promotion on purchases and balance transfers. You can make qualifying purchases at any time, but qualifying balance transfers must be executed within the first 30 days.

Following the end of the introductory period, the regular purchase and balance transfer APR applies to all balances.

Account Management and Expense Tracking Tools

This card comes with some useful account management expense tracking tools:

  • Employee Card Controls. These controls let you manage employee card use You can limit card use by geographical area, merchant type (for instance, travel only), time and day of week, dollar amount, transaction type, and more.
  • Choose Your Own Statement Due Date. You can choose the option that best fits your company’s cash flow from multiple statement due dates. You can change your selection at any time.
  • Account Alerts. You can customize account alerts, such as an approaching statement due date or large purchase. This is especially useful for large accounts with multiple authorized users.
  • Auto Pay and Accelerator. You can set up auto pay to avoid missed or late payments. The Accelerator feature allows you to increase your auto pay amount above the minimum and increase the frequency of your payments (weekly versus monthly) to pay off balances faster. This is useful for cardholders who take advantage of the 0% APR introductory financing offer.
  • Expense Tracking and Categorization. You can separate business and personal expenses, assign tags to categorize expenses by spending bucket, and more.

Overdraft Protection for U.S. Bank Deposit Account Holders

If you have a U.S. Bank business deposit account, you have the option to opt into U.S. Bank’s overdraft protection program. When you’re enrolled in overdraft protection, transactions that would normally result in overdrafts and negative balances are instead completed as intended. Then, U.S. Bank draws on your Platinum card’s cash advance line to push your balance back into positive territory.

Depending on your deposit account, you can expect to pay at least $7.50 per day for this feature (though some high-end deposit accounts waive overdraft transfer fees). Transfers immediately begin to accrue interest at your credit card’s cash advance rate, so it’s in your best interest to pay them off as quickly as possible (over and above other types of balances). Also, remember that your cash advance line and spending limit are not identical – the former is likely to be much smaller than the latter.

Important Fees

The balance transfer fee is 3% of the amount of each transfer or $5, whichever is greater. Cash advances cost at least 3% of the amount of each transfer or $5, but vary depending on cash advance method. Foreign transactions cost 3% of the transaction amount.

For more information about this card’s rates and fees, visit this terms and conditions page.

Credit Required

This card requires excellent credit.


  1. No Annual Fee. The U.S. Bank Business Platinum Card has no annual fee. Since it doesn’t have a rewards program to lessen the blow, and the 0% APR promotion doesn’t last indefinitely, the lack of an annual fee is key to this card’s competitiveness.
  2. 18-Month, 0% APR Introductory Promotion on Purchases and Balance Transfers. This card’s 0% APR introductory promotion on purchases and balance transfers last 15 months from your account opening date (though balance transfers must be made within 30 days of account opening to qualify for the promotional rate). That’s more than enough time to finance a large up-front purchase or slim down an existing high-interest balance transferred from another credit card account.
  3. Overdraft Protection for U.S. Bank Deposit Account Holders. If you have a U.S. Bank business deposit account, the opt-in overdraft protection plan can spare you from needless embarrassment (and worse, in the event that an NSF transaction threatens a business relationship or deal).
  4. Ability to Choose Your Own Statement Due Date. This card lets you choose your own statement due date. If cash flow is a perennial issue for your business, this is an important element of flexibility – though it’s not a magic bullet by any means.


  1. No Rewards. The U.S. Bank Business Platinum Card has no rewards program. Don’t bother applying for this card unless you’re okay with not earning a return on spending beyond a break on interest for the first year. If a rewards program is important to you, check out entry-level rewards credit cards like the Blue Business Plus Credit Card from American Express.
  2. No Sign-Up Bonus. There’s no early spend bonus on this card. For an alternative that pays you back as soon as you start spending, look at Capital One Spark Cash Select for Business, a no-annual-fee cash back credit card.
  3. Charges Penalty Interest. This card charges penalty interest. That’s a drawback relative to U.S. Bank’s consumer credit cards, and a serious issue for cardholders blindsided by unexpected expenses or cash flow issues.
  4. Has a Foreign Transaction Fee. This card’s foreign transaction fee adds up to 3% to the cost of overseas swipes and dips. If you regularly leave the United States on business, consider a fee-free alternative, such as Chase Ink Business Preferred.
  5. Limited Value-Added Benefits. Though the U.S. Bank Business Platinum Card has some useful fringe benefits, its utility for travelers and shoppers is limited. There’s no rental car insurance, price protection, purchase assurance, extended warranties, or other complimentary benefits that can substantially reduce the cost of on-the-road mishaps and shopping mistakes (whether they’re your fault or not).

Final Word

The U.S. Bank Business Platinum Card isn’t flashy or complicated. It’s designed for new cardholders who need to finance large purchases without paying sky-high interest rates or transfer existing credit card balances (probably with sky-high interest rates) from other accounts. It’s also useful as an entry-level business credit card for credit-building purposes, but that’s not the main attraction.

The Verdict

Us Bank Business Platinum Card

Our rating


U.S. Bank Business Platinum Card

The U.S. Bank Business Platinum Card is built for cost-conscious business owners who need to pay down high-interest credit card balances accrued elsewhere or finance large purchases without incurring outsize interest charges. With no sign-up bonus or rewards program, it’s not for those seeking ongoing returns on spending.

Key benefits include no annual fee, a year-long interest-free promotional period for purchases and balance transfers, and overdraft protection for U.S. Bank deposit account holders.

Downsides include no rewards or sign-up bonus, penalty interest charges, foreign transaction fee (up to 3%), and limited value-added benefits.

This card’s main use case is 0% interest financing. For all other activities, better business options exist.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he's not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.