U.S. Bank Launches New Credit Card With an Ultra-Long 0% Introductory APR Period

Those looking to pay off purchases over time or pay down credit card debt have a new credit card to consider, and it features an above-average introductory Annual Percentage Rate (APR) offer.

Here’s what you should know about the new U.S. Bank Shield™ Visa^® Card and its introductory offer on interest.

Details of the New U.S. Bank Shield Card

The U.S. Bank Shield card launched today, offering an introductory 0% APR on purchases and balance transfers for 24 billing cycles — well beyond the market average of 12-15 months for introductory offers. After the introductory period, there’s a variable APR of 17.74%-28.74%. There’s also a balance transfer fee of 5% (with a minimum of $5), which is higher than many competing credit cards with balance transfer offers.

Cardholders also earn cash-back on purchases, earning 4% back on prepaid air, hotel, and car reservations booked through the U.S. Bank Rewards Center.

The introductory APR period and earning rates aren’t the U.S. Bank Shield card’s sole features. The card has a $0 annual fee and also provides the following built-in perks:

• Cell Phone Protection:​ Receive up to $600 in reimbursement after damage or theft of your phone when the monthly cell phone bill is paid with your card. There’s a maximum of 1 claim per 12-month period with this protection, and you’ll pay a $100 deductible.
• Auto Rental Collision Damage Waiver:​ Provides secondary insurance coverage for physical damage and theft, reasonable and customary towing, and valid loss-of-use charges and administrative fees when you reserve and pay for a rental car with the covered card.​ You must decline the rental company’s policy at the time of rental to invoke this benefit.
• Extended Warranty Protection: Extends product warranties automatically, adding an additional year to warranties of 3 years or less on purchases made with the card.​ There’s a maximum benefit of $10,000 on these claims, and not all product types are covered.
• Purchase Security:​ Safeguard purchases against theft or damage due to fire, vandalism, or incidents within the first 90 days from the date of purchase, so long as you pay with this card. Note that not all products are covered, and there’s a maximum benefit of $500 per item and $50,000 per account.
• Annual $20 statement credit: If you make purchases on your card for 11 consecutive months, you’ll receive a $20 statement credit.
• Free access to your credit score.

The U.S. Bank Shield card offers valuable benefits such as cell phone protection, extended warranty protection, and an intriguing $20 statement credit when you make a purchase on your card for 11 consecutive months, but the main reason this card may appeal to some is the lengthy 24-month APR on purchases and balance transfers.

Final Thoughts

U.S. Bank has launched a new credit card, and it’s worth considering for those who need up to 24 billing cycles to pay off a large purchase or those needing a 0% APR period to help pay down credit card debt.

The new U.S. Bank Shield card offers valuable purchase protections and insurance benefits, as well as 4% cash-back on certain travel purchases. However, its main draw will be the lengthy 0% APR period for those seeking a credit card offering that benefit.