How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.
The U.S. Bank Business Platinum Card is one of the best business credit cards for financing a balance transfer or a new purchase. It offers business owners one thing that most business credit cards do not: an intro APR on balance transfers. The card also offers an identical offer on new purchases. Even better is that the intro period is 18 months, which gives you well over a year to pay down your balance.
As for the downsides of this $0 annual fee card, there is no sign-up bonus or rewards program, so the card is most valuable during the first year and a half after account opening. The ongoing APR is on the lower end, so you’ll save a bit on interest if you need to carry a balance from month to month.
Intro Purchase APR
0% intro APR on purchases for 18 billing cycles
Regular Purchase APR
17.29% to 26.29%
Intro BT APR
N/A
Regular BT APR
17.24% to 26.24%
Annual Fee
$0
Cash Advance Fee
Either 5% of the amount of each advance or $10 minimum, whichever is greater.
Foreign Transaction Fee
3% on each foreign transaction
Balance Transfer Fee
Either 3% of the amount of each transfer or $5 minimum, whichever is greater
Intro APR on purchases and balance transfers
The U.S. Bank Business Platinum Card is our top pick for the best balance transfer credit card among the small business credit cards because it offers one of the longest intro APRs:
Note that there is a balance transfer fee of either 3% of the amount of each transfer or $5 minimum, whichever is greater. However, this fee is a fairly standard fee for balance transfers. There are no-fee balance transfer cards but they’re hard to come by, and most are not business credit cards.
Low ongoing APR
You never know when an emergency will hit or if you’ll get an amazing opportunity to make a significant purchase that helps your business. For times like these, it’s nice to have easily accessible credit. The low ongoing 17.29% to 26.29% APR means you will pay close to, or below, the average credit card APR of 24.71%.
→ Find more balance transfer cards
No sign-up bonus or rewards program
The U.S. Bank Business Platinum Card lacks both a sign-up bonus and a rewards program, making it less valuable long-term. However, the card’s highlight is its intro APR offer. Paying no interest while getting out of debt or paying off a large purchase will save you far more than a 2% cash back rate.
If you aren’t looking specifically for a card that offers an intro APR, consider another business credit card that offers more ongoing value.
Limited ongoing benefits
Many business cards offer travel perks, extended warranties, car rental insurance or cellphone insurance, but the U.S. Bank Business Platinum Card does not. The benefits it does offer — mobile payments, card control, 24/7 fraud monitoring — are pretty standard across credit cards. While useful, they don’t bring additional value to the card.
Foreign transaction fees
When your business activities require travel abroad, you should leave the U.S. Bank Business Platinum Card at home — it charges 3% on each foreign transaction of each foreign transaction.
| Credit Cards | Our Ratings | Intro Balance Transfer APR | Regular Balance Transfer Rate | Balance Transfer Fee | |
|---|---|---|---|---|---|
|
U.S. Bank Business Platinum Card*
|
N/A | 17.24% to 26.24% | Either 3% of the amount of each transfer or $5 minimum, whichever is greater | ||
Ink Business Unlimited® Credit Card
 Apply Now
on Chase's secure site |
N/A | 17.99% - 23.99% Variable | Either $5 or 5% of the amount of each transfer, whichever is greater. |
Apply Now
on Chase's secure site |
|
The American Express Blue Business Cash™ Card
|
N/A | N/A | N/A | ||
Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card*
|
N/A | 17.99% - 27.99% Variable APR on balance transfers | 4% of the amount of each transaction. |
While it doesn’t have a balance transfer offer, the Ink Business Unlimited® Credit Card does give cardholders a 0% Intro APR on Purchases for 12 months, followed by an 17.99% - 23.99% Variable APR. This offers some flexibility if you know you’ll need a revolving line of credit. Since it has a $0 annual fee, it won’t cost you anything to keep after the intro period.
Plus, you can put money back in your bank account with the Ink Business Unlimited® Credit Card. You’ll get a sign-up bonus that lets you earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening. You’ll also earn unlimited 1.5% cash back on every purchase made for your business.
Like the Ink Business Unlimited® Credit Card, The American Express Blue Business Cash™ Card offers an intro APR of 0% on purchases for 12 months from date of account opening, then a 17.74% - 25.74% Variable APR (see rates & fees). It has a welcome offer and a simple rewards program that lets you earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. If you spend more than $50,000 you could pair it with another business card, like the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card, to earn elevated rewards on select purchases.
Like the other cards mentioned above, it has no annual fee — but it does come with a foreign transaction fee (see rates & fees). You can get free employee cards to maximize your cash back and track spending with alerts and spending reports.
Keeping with the theme of 0% intro APRs on new purchases, the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card offers a 0% Introductory APR on purchases for the first 9 billing cycles, then a 17.99% - 27.99% Variable APR. It’s not as long of an offer as the previously mentioned cards have, but it does have a solid rewards program that allows you to earn a high rate of cash back on the first $50,000 you spend in the category of your choice.
Additionally, every purchase earns cash back, it has a $0 annual fee, and the sign-up bonus lets you get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
The U.S. Bank Business Platinum Card is a solid option if you’ve got some business debt to pay off and want to save on interest. Even though there is a balance transfer fee, the extra long intro period of 18 months easily outweighs the fee. It’s also worth getting if you have an upcoming purchase that you’d like to finance. You won’t pay a cent of interest as long as you pay off the entire amount before the intro period ends.
However, if you run a debt-free business or pay off your credit card in full each month, a business credit card that offers cash back like the Ink Business Unlimited® Credit Card or The American Express Blue Business Cash™ Card may be a better option.
To see rates & fees for American Express cards mentioned on this page, visit the links provided below:
The information related to the U.S. Bank Business Platinum Card and Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
