U.S. Bank Business Platinum Card Review 2024: Features and Benefits

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The information for the following product(s) has been collected independently by Business Insider: U.S. Bank Business Triple Cash Rewards World Elite Mastercard®. The details for these products have not been reviewed or provided by the issuer.

Introduction to the U.S. Bank Business Platinum Card

Small business owners who need a little more time to pay off their balances may find that the U.S. Bank Business Platinum Card fits the bill.

Although the U.S. Bank Business Platinum Card doesn’t earn rewards on purchases, its lengthy 0% intro APR period beats out most competitors and covers both purchases and balance transfers.

U.S. Bank Business Platinum Card Overview

The U.S. Bank Business Platinum Card is a simple, no-fuss card for small businesses. Its features are limited, but a standout offer of 0% intro APR on purchases and balance transfers for the first 18 billing cycles (then 16.24% – 25.24% Variable APR) is among the best you’ll find anywhere, especially on a business credit card. Furthermore, the introductory no-interest period covers both purchases and balance transfers, which means you can float large business expenses on this card without paying extra.

The U.S. Bank Business Platinum Card doesn’t charge an annual fee, and allows business owners to add employee cards for free. These benefits make the card a good option for entrepreneurs looking to save on out-of-pocket costs. 

Once the introductory period of no interest is over, the U.S. Bank Business Platinum Card also charges a lower-than-average ongoing APR of 16.24% – 25.24% Variable APR, which means that business owners who have no choice but to carry an outstanding balance can at least save some money on interest.

U.S. Bank Business Platinum Card Benefits and Features

0% Intro APR

You’ll have plenty of time to pay off your balance with this card’s 0% intro APR on purchases and balance transfers for the first 18 billing cycles (then 16.24% – 25.24% Variable APR). The offer includes both new purchases and balance transfers of existing debt, which isn’t something you see on all cards.

Note that you’ll have to pay a fee if you choose to transfer a balance of 3% of each transfer amount with a $5 minimum. 

Extended Pay Plans

The U.S. Bank Business Platinum Card offers an ExtendPay option if you have upcoming purchases you can’t fully pay off immediately. ExtendPay allows you to pay a fixed monthly fee of up to 1.6% of the original balance each month without incurring interest charges. 

Visa Spend Clarity 

Business owners will appreciate Visa Spend Clarity, an expense management tool that helps them visualize and track business expenses. 

U.S. Bank Business Platinum Card Card Annual Fee and Other Costs

Annual Fee

The U.S. Bank Business Platinum Card doesn’t charge an annual fee, nor will it cost you anything to add employee cards. 

Standard APR

Once the promotional 0% APR period is over, cardholders can expect an interest rate of 16.24% – 25.24% Variable APR on outstanding balances. 

Foreign Transaction Fees

Those using the U.S. Bank Business Platinum Card abroad should note that there is a foreign transaction fee of 3% of each foreign purchase or foreign ATM advance transaction in U.S. Dollars. 

Compare the U.S. Bank Business Platinum Card

The U.S. Bank Business Platinum Card has a long intro APR period (then 16.24% – 25.24% Variable APR), but otherwise doesn’t have many features to recommend. Here’s how it stacks up against competitors. 

Ink Business Unlimited® Credit Card vs. U.S. Bank Business Platinum Card

Like the U.S. Bank Business Platinum Card, the Ink Business Unlimited® Credit Card also offers an intro 0% intro APR on purchases for the first 12 months APR (then 18.49% – 24.49% Variable APR) and no annual fee.

In contrast to the U.S. Bank Business Platinum Card, however, the Ink Business Unlimited® Credit Card also earns an unlimited 1.5% cash back on every dollar spent.

Although its intro APR period is shorter — and it’s just for purchases, not balance transfers — this Chase business credit card also comes with a hefty welcome offer of $750 bonus cash back after you spend $6,000 on purchases in the first three months from account opening, making it significantly more valuable to business owners who value travel rewards. 

U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
vs. U.S. Bank Business Platinum Card

Another offering from U.S. Bank, the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® is another $0 annual fee option. This card has a 0% intro APR on purchases and balance transfers for 15 billing cycles (then 19.24% – 28.24% Variable APR), nearly matching that of the U.S. Bank Business Platinum Card. 

The U.S. Bank Business Triple Cash Rewards World Elite Mastercard® comes with a welcome offer of $500 cash back after spending $4,500 on purchases on the account holder’s card in the first 150 days of opening your account.

It also offers strong ongoing rewards with 3% cash back on categories such as dining, gas stations, and office supply stores, making it significantly more valuable long-term compared to the U.S. Bank Business Platinum Card.

Ink Business Preferred® Credit Card vs. U.S. Bank Business Platinum Card

The Ink Business Preferred® Credit Card is the only card in our comparison list that comes with an annual fee. It also doesn’t offer an introductory period with no interest.  

However, the huge welcome offer of 100,000 bonus points after spending $8,000 on purchases in the first three months from account opening should definitely be taken into consideration, especially for cardholders who like to travel. The Ink Business Preferred® Credit Card earns Chase Ultimate Rewards® points, which can be transferred to more than a dozen hotel and airline partners. 

The Ink Business Preferred® Credit Card also comes with complimentary cellphone insurance, and earns 3x points on several common categories of business expenses including shipping, travel, and various utilities and bills. 

U.S. Bank Business Platinum Card Cardholder Insights

The U.S. Bank Business Platinum Card isn’t as popular as other business credit cards, likely because of its limited overall benefits. That being said, U.S. Bank is a trusted banking institution, and anyone looking for a long-term 0% introductory APR could do worse than applying for this card. 

Be aware that U.S. Bank can be tough regarding approval for business credit cards. If you don’t already have an established banking history or business income, you may face issues when trying to open a U.S. Bank Business Platinum Card.

U.S. Bank Business Platinum Card Frequently Asked Questions

Why You Should Trust Us: How We Reviewed the U.S. Bank Business Platinum Card

Our team reviewed the U.S. Bank Business Platinum Card by comparing its against the merits of other small business credit cards. We considered multiple factors, including: 

• Standout benefits — Does the card offer benefits that beat out the competition? 
• Potential rewards — Does the card provide a welcome offer? Will it reward you for your business spending?
• Annual fee — Does the card charge an annual fee? What, if any, credits does it provide to offset this cost?