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For a basic, no-frills credit card, the U.S. Bank Visa Platinum Credit Card has a lot going for it: Cardholders can earn low purchase interest rates depending on their credit scores, pay their bills online and receive zero-liability protection against fraudulent purchases.
This card may be plain vanilla when it comes to perks. But when it comes to fees and protection, it ranks high.
This basic card is a good tool for consumers hoping to build their credit.
These consumers can apply for a new credit card, one that comes with rewards or miles programs, after they use their Visa Platinum Credit Card to boost their credit scores.
How This Card Works:
This is a basic card.
There are no rewards or mileage programs about which to worry.
Consumers need only worry about paying their monthly bill on time. Doing this over a long enough period of time will help them improve their credit scores enough to confidently apply for a credit card with additional perks.
Travel and Shopping Benefits:
As a basic credit card, the U.S. Bank Visa Platinum card doesn’t come with any cash-back, rewards or mile bonuses.
It does, though, offer consumers zero liability protection against fraudulent purchases made with their cards, free auto rental insurance, the ability to pay bills online and online account management.
Cardholders with high credit scores can qualify for purchase interest rates as low as 11.99 percent. Those with lower scores will have to settle for higher interest rates, as high as 23.99 percent.
The card, which has no annual fee, comes with a six-month introductory interest rate offer of 0 percent on balance transfers and no purchases.
Other fees are standard: Cash-advance fees run either $10 or 4 percent of the advance amount, whichever is higher.
Late, returned-payment and over-the-credit-limit fees can run as high as $35.
- Solid purchase interest rates.
- No annual fee.
- 0 percent introductory interest rate on balance transfers and new purchases.
- Interest rate can rise as high as 23.99 percent for cardholders with bad credit scores.
- No mileage, cash-back or rewards perks.