US Bank Visa Platinum Credit Card Reviews 2023 – Eligibility & How to apply, Pros & Cons

Eligibility for US Bank Visa Platinum Credit Card –

The US Bank Visa Platinum credit card is available to individuals with good to excellent credit. The credit score required will vary depending on the individual’s credit history, income, and other factors. US Bank typically looks for a score of 700 or higher when approving applications for this card. Additionally, you need to be a legal resident of the United States and be of the age of majority in your state.

You may also need to provide proof of income, such as a pay stub or tax return, to show that you have the means to make payments on the card. US Bank also looks at factors such as your credit utilization, payment history, and length of credit history when deciding whether to approve an application. Furthermore, you may be required to have a US Bank checking or savings account to be eligible for this card. It’s important to note that being pre-approved or pre-qualified for a credit card doesn’t guarantee final approval, and you’ll still need to submit a formal application.

How to apply for US Bank Visa Platinum Credit Card?

To apply for the US Bank Visa Platinum credit card, you can follow these steps:

1. Visit the US Bank website and find the Visa Platinum credit card in the credit card section.
2. Click on the “Apply Now” button on the card’s webpage.
3. Fill out the online application form with your personal information, such as your name, address, income, and employment information. You will also be asked to provide your Social Security number and birthdate.
4. Review and submit your application.
5. Wait for a decision on your application. US Bank will review your information and decide on your eligibility. You will typically receive your card within 7-10 business days if approved.
6. Once you receive your card, activate it, and sign it back.
7. Read the terms and conditions, including the benefits and fees, and start using your card for purchases.

It’s worth noting that US Bank may also ask for additional documentation or information if needed to complete the application process. Furthermore, approval for the card is subject to creditworthiness and other factors like income and credit score, so it’s crucial to have all your information ready before applying. It’s also essential to remember that having a US Bank checking or savings account may be a requirement for this card and that being pre-approved or pre-qualified for a credit card doesn’t guarantee final approval.

US Bank Visa Platinum Credit Card pros –

The US Bank Visa Platinum credit card offers several benefits and perks that can be attractive to cardholders. Some of the key pros of this card include the following:

1. 0% introductory APR: The card offers a 0% introductory APR for the first 20 billing cycles on both purchases and balance transfers, which can help manage large purchases or transfer a balance from another card.
2. No annual fee: The card has no annual fee, meaning users don’t need to pay a yearly charge to keep the card active.
3. Fraud protection: The card provides fraud protection, which means that if your card is lost or stolen, you will not be held responsible for unauthorized charges.
4. Access to U.S. Bank Online and Mobile Banking: With U.S. Bank Online and Mobile Banking, you can easily check account balances, pay bills, view account activity, and more.
5. No foreign transaction fee: The card doesn’t have any foreign transaction fee, making it an excellent travel option.
6. Chip technology: The card has chip technology, making it more secure when merchants accept chip cards.
7. Customizable alerts: You can customize alerts to help keep track of your account activity and stay on top of payments.
8. Access to U.S. Bank Cash+: With U.S. Bank Cash+, you can earn cash back on purchases at select merchants, which can be useful for earning rewards on everyday spending.

It’s worth noting that these benefits may change over time, and terms and conditions may apply. Before applying for any credit card, you should always read the cardholder agreement and terms and conditions. It’s also important to consider that after the introductory period, your APR will be variable and based on the Prime Rate, which means that it can fluctuate with the market. Additionally, US Bank Visa Platinum credit cards do not earn rewards, so it’s not the best option for those looking to earn rewards on their purchases.

US Bank Visa Platinum Credit Card cons –

The US Bank Visa Platinum credit card, like any other credit card, has some downsides to consider before applying. Some of the essential cons of this card include the following:

1. No rewards program: The card does not offer any rewards program for earning cash back or points on purchases, which may not be ideal for those looking to earn rewards on their spending.
2. Balance transfer fee: The card has a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
3. No bonus categories: The card does not offer bonus rewards or cash back on any specific categories of purchases, which may not be ideal for those looking to earn rewards on specific types of spending.
4. Higher interest rate: The card has a variable interest rate, which means the interest rate can change based on market conditions. If you carry a balance on the card, you could pay more interest charges than you earn in rewards.
5. No lounge access: The card doesn’t have any lounge access, which some other premium credit cards offer.
6. No additional benefits: The card doesn’t offer additional benefits like travel or purchase protections, which some other credit cards offer.
7. Geography Restriction: The card is only available to residents of the United States.

Before applying for any credit card, you should always read the cardholder agreement and terms and conditions. It’s also important to consider that after the introductory period, your APR will be variable and based on the Prime Rate, which means that it can fluctuate with the market. Additionally, US Bank Visa Platinum credit cards do not earn rewards, so it’s not the best option for those looking to earn rewards on their purchases.

Featured Image Credit: CNET