U.S. Bank Perks+ Visa Signature card review

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You don’t always have to trade a competitive interest rate for a generous rewards program. The U.S. Bank Perks+ Visa Signature Card offers bonus points on everyday purchases, such as gas and groceries, as well as a range of valuable perks, including premium travel benefits and discounts on shopping and hotels. And unlike some competitors, this card doesn’t charge an especially high interest rate, making it an attractive choice for cardholders who tend to carry a balance.

Average promotional period

The biggest downside to the card is that it doesn’t offer an extensive balance transfer period. This makes it a poor choice for cardholders who need more than a year to pay down a hefty balance. Cardholders have just 12 months to pay down their balance before the card’s standard interest rate kicks in. This is below average for a balance transfer card, and less generous than many competitors. You do get 12 months of interest-free purchases, though, so you can continue using the card while you chip away at your transferred balance.

Low balance transfer fee

The card also charges a relatively low balance transfer fee, so you won’t rack up a huge fee just by transferring a balance. It charges 3 percent, or a minimum of $5, to move an old balance from another card. You’ll have to be quick, though, if you want to take advantage of the card’s interest-free promotion. U.S. Bank gives cardholders just 30 days to initiate a balance transfer and claim the card’s zero percent APR.

Unique tools for more efficient payment

One of the most useful benefits of the U.S. Bank Perks+ Visa Signature Card is its customizable payment tool, which helps cardholders organize and accelerate payments. With the card’s FlexControl feature, you can turbocharge payments by scheduling automatic payments a few times a week or periodically throughout the month. The accelerated payment feature helps break down payments into more digestible installments, so you’re less likely to get overwhelmed by saving up for one big monthly payment. You can also schedule automatic payments for certain types of purchases, such as gas, grocery or restaurant purchases.

Bonus points for everyday spending 

For a card with no annual fee, the U.S. Bank Perks+ Visa Signature Card is also relatively generous, particularly for cardholders who spend a lot on gas and groceries. You earn two points per dollar on gas and groceries and one point per dollar on general purchases. Because it’s a Visa Signature card, it also offers a wide range of premium benefits, such as rental car and travel insurance, round-the-clock concierge service, and discounts on travel and shopping.

Attractive APR

The standard APR on the U.S. Bank Perks+ Visa Signature Card is also fairly competitive. Cardholders with the best credit scores may be offered an APR as low as 12.24 percent, while cardholders with lower scores are charged a maximum APR of 22.24 percent. The average rewards card, by contrast, charges roughly 15.14 percent, while the average balance transfer card charges 14.12 percent. The U.S. Bank Perks+ Visa also doesn’t charge a penalty rate if you accidentally miss a payment.

Why get the U.S. Bank Perks+ Visa Signature card?

• You have a relatively small balance and just need a year to pay it off.
• You spend a lot on gas and groceries and want to be rewarded for spending.
• You plan to continue using the card after you pay off your balance transfer.
• You want extra help scheduling and customizing payments.
• You want a safer card that doesn’t charge a penalty APR.

How to use the U.S. Bank Perks+ Visa Signature card:

• Transfer your balance as soon as you get approved. U.S. Bank only gives cardholders 30 days to transfer a balance.
• Use the card’s FlexControl feature to customize and accelerate payments.
• Try to pay down as much debt as you can before the card’s regular interest rate kicks in.