U.S. Bank Business Platinum Card review: Perfect for financing large business expenses

U.S. Bank Business Platinum Card overview

The U.S. Bank Business Platinum Card is a practical option for business owners focused on financing large purchases rather than earning rewards. The card is a solid option with no annual fee and its 0% introductory annual percentage rate, then a variable APR of 16.74% to 25.74% applies. It's ideal for a business managing cash flow with the trade-off of no rewards or travel perks. Card Rating*: ⭐⭐⭐

*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.

One of the biggest hurdles for a new or growing small business is funding and managing expenses. This sometimes replaces the desire to earn cash back or rewards on business purchases. In a time of high interest rates and higher expenses, businesses need access to money and ways to smooth out their finances.

The U.S. Bank Business Platinum is a no-frills option for business owners needing to make large purchases or pay off existing large balances. This card's main focus is its introductory 0% APR (afterward, a variable APR of 16.74% to 25.74% applies), so it lacks many of the benefits we see on cards with annual fees.

Approved applicants typically have a credit score of at least 670.

Here's what you should know about the U.S. Bank Business Platinum Card before applying.

U.S. Bank Business Platinum pros and cons

U.S. Bank Business Platinum welcome offer

Unfortunately, one of the biggest downsides of the U.S. Bank Business Platinum is the lack of a welcome offer.

On the other hand, unlike most business credit cards, the U.S. Bank Business Platinum offers an introductory APR. New cardholders enjoy 0% APR on balance transfers and purchases for 12 billing cycles. After that, a variable APR of 16.74% to 25.74% applies.

Balance transfers must be made within the first 30 days of account opening, and all transfers are subject to a 5% transfer fee.

Related: Best business credit cards

U.S. Bank Business Platinum benefits

Since it lacks an annual fee, the U.S. Bank Business Platinum doesn't offer much to cardholders in terms of benefits.

Cardholders can access the U.S. Bank Spend Management platform, which monitors and helps manage business expenses. Its features include accounting, intuitive expense receipt capture and real-time business analytics.

Cardholders also have access to the U.S. Bank ExtendPay Plan, which allows them to pay off balances in fixed monthly payments over time without incurring interest. New cardholders receive a $0 fee offer on ExtendPay Plans opened in the first 60 days after account opening.

Primary cardholders can also request employee cards at no additional cost.

I've used a 0% APR credit card in the past to pay off thousands in medical bills, and it was a real lifesaver. It helped me avoid interest charges, and, best of all, I didn't have to use a large sum of my savings and could use my monthly cash flow to pay down the debt within the introductory APR period.

Related: How to get a business credit card

Earning and redeeming rewards on the U.S. Bank Business Platinum

The U.S. Bank Business Platinum has no bonus categories or rewards structure. The value proposition of this card is tied to interest savings with its 0% introductory APR (afterward, a variable APR of 16.74% to 25.74% applies) and spend management platform.

Related: How to avoid and reduce credit card interest

Which cards compete with the U.S. Bank Business Platinum?

The U.S. Bank Business Platinum is a great choice if you're looking to finance large purchases. If its features don't appeal to you, here are some other options:

• If you want to earn cash back on all purchases: If you want to be rewarded 1.5% cash back on all purchases, consider the Ink Business Unlimited® Credit Card (see rates and fees). The card has no annual fee, and you can convert the cash back into Ultimate Rewards points if you also have a premium Chase card. To learn more, read our full review of the Ink Business Unlimited.
• If you want to earn flexible cash back: Consider the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card with its 3% cash back on your eligible category of choice and 2% cash back on dining purchases (on the first $50,000 in combined choice category/dining purchases each calendar year, then 1% thereafter). This card also has no annual fee. To learn more, read our full review of the Bank of America Business Advantage Customized Cash Rewards.
• If you want bonus rewards on common business expenses: The Ink Business Cash® Credit Card (see rates and fees) earns 5% cash back on cable, internet, office supply stores and phone services, plus 2% back at gas stations and restaurants (on up to $25,000 in combined spending each account anniversary year, then 1% back). You can convert the cash back you earn on this card into Ultimate Rewards points if you also have a premium Chase card. This card comes with no annual fee. To learn more, read our full review of the Ink Business Cash.

For additional options, check out our list of no-annual-fee business cards.

Related: How to choose a credit card with 0% APR

Is the U.S. Bank Business Platinum worth it?

If your priority is financing and not paying an annual fee, then the U.S. Bank Business Platinum is right for you. Its lengthy 12-month 0% APR term (afterward, a variable APR of 16.74% to 25.74% applies) on purchases and balance transfers makes it stand out among its competitors.

Although you're giving up rewards and don't get access to business or travel benefits, I recommend using it for the introductory APR period and then shifting everyday spending to a business rewards card.

Bottom line

For business owners, the U.S. Bank Business Platinum helps save interest on both purchases and balance transfers. Although earning rewards is an important aspect of benefiting from purchases your business was already going to make, this card can help smaller businesses struggling to finance necessary purchases.

Adding this card to your wallet makes sense for those who need to manage cash flow and reduce interest costs. After the first year, this card may not be as useful unless you're targeted for another 0% APR offer. But for new businesses or those needing a helping hand with expenditures, this card is a great tool.

Apply here: U.S. Bank Business Platinum Card