Union Bank Platinum Visa Credit Card Review
Written by
Cynthia Measom
Edited by
Lindsey Kloosterman
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Balance Transfer
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Pros
- Low introductory APR
- Competitive regular APR
- No annual fee
Cons
- Balance transfer fee applies after the first 60 days
Union Bank Platinum Visa Credit Card Overview
Union Bank Platinum Visa credit card offers current cardholders a low 0% introductory APR on both purchases and balance transfers for the first 15 months, followed by a variable APR.
For cardholders who take advantage of balance transfers, transfers must be completed within 60 days of opening the account to receive the $0 introductory balance fee. If balance transfers are conducted after the first 60 days, a 3% fee for each transfer will apply or a minimum of $10.
Good To Know
While Union Bank Platinum Visa cards still work as usual for now, U.S. Bank has provided the following timeline for the transition:
- Late May/early June: A new U.S. Bank credit card will be mailed to all current Union Bank Platinum credit card account holders.
- June 22: All Union Bank credit cards and the associated account numbers will be deactivated.
- June 28: You will have access to your past Union Bank transaction history. Your current U.S. Bank credit card balance will be shown in mobile and online banking.
- June 29: Any rewards balance from your Union Bank credit card will be transferred to your new U.S. Bank credit card.
Key Features
Here’s a rundown of the best features that the Union Bank Platinum Visa credit card has to offer.
Balance Transfer
The card offers balance transfers with 0% APR for the first 15 months and no balance transfer fees for the first 60 days, followed by a variable APR. You can still transfer balances from higher-interest credit cards after the initial 60-day period, but a 3% or $10 fee will apply — whichever is higher.
APR
Unlike some credit cards that only offer an introductory APR for either purchases or balance transfers, the Union Bank Platinum credit card’s 0% introductory APR applies to both. That means you can take advantage of no interest charges for over a year. This may be the leg up you need when it comes to paying off higher-interest debt or making larger purchases that you may need to pay off over time.
With the Union Bank Platinum Visa credit card, you have a chance of getting an extremely competitive regular APR once the introductory period ends. The APR for this card has been 10.74% to 22.24%.
Customer Service
Union Bank Platinum Visa credit card holders have access to customer agents 24/7 regarding issues with their cards. For any other concerns, customers can contact the general help line Monday to Friday from 7:00 a.m. to 7:00 p.m. PST and on Saturdays from 8:00 a.m. to 5:00 p.m. PST.
Benefits
Annual fees can be a significant expense that adds up over time, but the Union Bank Platinum credit card doesn’t have any. In addition to the low introductory APR and the low balance transfer fee in the promotional period, the Union Bank credit card also features additional Visa benefits, such as 24/7 card inquiry service, emergency card replacement and cash disbursement, zero fraud liability and purchase security.
Update: Any rewards and benefits on your current credit card account should transfer during the transition to U.S. Bank. If any issues arise, contact U.S. Bank customer service.
How the Union Bank Platinum Visa Credit Card Stands Out
The Union Bank Platinum Visa credit card stands out because it offers a 0% APR on both purchases and balance transfers for 15 months, which is a better deal than cards that offer 12 months. However, it’s important to note that if you take advantage of the balance transfer offer and also use the card for purchases, the interest-free grace period will no longer apply to your purchases. You’ll need to pay off the purchases in full by the statement due date as the regular variable APR will be applied.
Comparable Balance Transfer Card Options
To give you an idea of how the Union Bank Platinum credit card measures up to other balance transfer cards, here’s a look at a couple of available options.
BankAmericard® Credit Card
The no-annual-fee BankAmericard credit card offers 0% APR for the first 21 billing cycles for purchases and also for any balance transfers made within the first 60 days from account opening. After the introductory period, a variable APR of 15.74% to 25.74% will apply. Additionally, a 3% fee applies to all balance transfers.
Although the BankAmericard offers an introductory APR period that’s six months longer than the Union Bank Platinum Visa’s, its regular APR is not as good. Also, the Union Bank card doesn’t charge a balance transfer fee for transfers made within the first 60 days of account opening, whereas the BankAmericard charges a balance transfer fee from the start.
Capital One SavorOne Rewards Card
If you’re looking for a card that offers balance transfers and rewards with no annual fee, the Capital One SavorOne has you covered. It offers 0% APR on purchases and balance transfers for 15 months and a variable APR of thereafter. However, a 3% balance transfer does apply. This card offers unlimited 3% cash back on dining, entertainment, streaming service and grocery store purchases. Cardholders can also earn a one-time cash bonus of $200 after making $500 in purchases within the first three months.
The Union Bank Platinum Visa is not a rewards card and doesn’t offer a cash-back bonus, so it can’t compete in those areas. However, it does have a lower regular APR range than the Capital One SavorOne Rewards Card and it doesn’t charge a balance transfer fee right out of the gate, so to speak.
How To Apply
Since U.S. Bank’s purchase of Union Bank, new credit card applications are closed. New customers looking to apply should look at the U.S. Bank website instead to view their offerings.
Who the Union Bank Platinum Visa Credit Card Is Best For
The Union Bank Platinum Visa credit card is best for people who want an introductory APR period on balance transfers with a perk of no balance transfer fees for any transfers made within the first 60 days of account opening.
Final Take
The Union Bank Platinum Visa credit card was a good choice for customers interested in transferring higher-interest balances and paying them off within the 15-month introductory APR period. Existing customers should keep an eye on their accounts, since U.S. Bank reserves the right to “change APRs, fees and other account terms in the future.”
FAQ
Here are the answers to some of the most frequently asked questions regarding the Union Bank Platinum Visa credit card.- What is the Union Bank Platinum credit card?
- The Union Bank Platinum Visa credit card is a no-annual-fee card that has a low introductory annual percentage rate. While this card might be best for someone who wants interest-free balance transfers, it won't be best for someone who wants a rewards card that pays them cash back for purchases.
- Who is eligible for the Union Bank Platinum credit card?
- Since U.S. Bank's purchase of Union Bank, new credit card applications are closed. New customers looking to apply should look at the U.S. Bank website instead to view their offerings.
- What does a platinum level credit card mean?
- Platinum-level credit cards are generally a higher tier of credit card offered by banks and credit unions to customers with better creditworthiness. Platinum-level cards may offer users better benefits and rewards programs, higher credit limits and better interest rates.
- How much credit is on a Platinum credit card?
- Your credit limit will usually be decided based on several factors including credit score, income and current debt. Even if two customers have the same platinum level credit card, their individual credit limit may vary.
Chris Ozarowski contributed to the reporting for this article.
Data is accurate as of May 19, 2023, and is subject to change.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
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- U.S. News. 2022. "What Annual Income Is Required for a Credit Card?"
