U.S. Bank has launched the U.S. Bank Shield Visa card. Card offers the following:
- $0 annual fee
- 0% APR on purchases and balance transfers for 24 billing cycles (5% balance transfer fee)
- Earn a $20 annual statement credit for 11 consecutive months of purchases
- 4% cash back On prepaid air, hotel and car reservations booked directly in the Rewards Center when you use your card
Balance transfer fee kills the usefulness of this for a lot of people as other purchases don’t earn rewards, but I guess it could still be useful for purchases if the credit limit is high enough.
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Comments didnt disappoint
The benefits on this card suck so much because the CFPB is being shut down.
They were the only thing keeping the bennies good on cards.
I could definitely use 24 months of 0%, but I'd rather get another 12 month 0% business card than use add to my 5/24 count
This card isn't meant for bank bonus grabbing average Doc-ers, so why the hate?
I've never used a bank's travel portal because I've seen the markup is 10%+ which offsets that 4% reward and I don't get loyalty points with the airline and hotel I use most frequently.
Not sure why the hate on this card. 24 months APR free on purchases is pretty solid. It serves a purpose.
Also, a one-time balance transfer fee of 5% is essentially a nominal 2.5% APR considering it's a two year "term". Even with minimum payments you should be able to come out slightly ahead if you were to put a transferred cash balance into a HYSA (particularly with bonuses) assuming you can absorb the temporary hit to your credit score.
I mean, you don't have to use it for BT if you have no other debt. It's 0% for purchases too.
Good point
$1 amazon auto reload each month for a $8 gain every year? Can we still do $1? Sounds horrible.
no it's a minimum of $5 now, I think
fugly card, have no idea who would actually want to get this
Firstly have to check the pre approve first. US Bank is very strict about their geography.
It is a rebrand of their Platinum card (link redirects to shield)
https://www.usbank.com/credit-cards/visa-platinum-credit-card.html
Well it’s no ANA card