U.S. Bank Shield Card: Lengthy 0% APR Period, Plus Rewards

A lengthy break from interest

If you apply via NerdWallet, the U.S. Bank Shield™ Visa® Card offers 0% intro APR for 18 billing cycles on purchases and balance transfers, and then the ongoing APR of 17.74%-28.74% Variable APR. That makes it a top option for people who want to finance a large purchase over time.

Because the 0% period applies to balance transfers, too, the card is also an option for those aiming to pay down existing debt from another card or loan. Just note that if you use the U.S. Bank Shield™ Visa® Card for this purpose, the balance transfer must be made within 60 days of account opening to qualify for the 0% promotional offer.

As with most balance transfer offers from large banks, you'll owe a balance transfer fee. And as is the policy with most lenders, U.S. Bank doesn’t accept balance transfers from other U.S. Bank accounts.

» LEARN: What debts can you transfer to a credit card?

No penalty APR

Unlike some other credit cards, the U.S. Bank Shield™ Visa® Card doesn’t charge a penalty APR for making multiple late payments. Note, though, that late payments can still cause your credit scores to decrease.

» MORE: 0% APR credit cards help in a crisis, but mind the details

Incentives on spending

Shield cardholders will earn 4% cash back on prepaid air, hotel and car reservations booked directly in U.S. Bank’s Rewards Center. Plus, those who make a purchase for 11 consecutive months get an annual $20 statement credit.

Granted, these are minor perks overall, and they don't do much to incentivize using the card as more than just a financing vehicle. (You won't earn rewards on everyday purchases like groceries or dining, and in any case, it may not be wise to put new purchases on a card you're using to try to pay down debt.)

Still, they could feasibly make the Shield card worth keeping around after you've paid off your debt.

Cell phone insurance

Credit cards that offer cell phone insurance are fairly common today, but it’s not a mainstay benefit among balance transfer and 0% APR cards. With the U.S. Bank Shield™ Visa® Card, though, as long as you pay your cell phone bill with it, you’ll get up to $600 of coverage every 12 months. A $100 deductible applies.

This feature, too, could make it worth holding onto the card long term.

You can find longer 0% APR promotions

Should you need more time to attack your debt, you can find cards with lengthier interest-free promotions. As noted above, for one thing, you could apply for this card directly via U.S. Bank. Or you could consider the Wells Fargo Reflect® Card, which offers one of the best options on the market: a 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers, and then the ongoing APR of 17.24%, 23.74%, or 28.99% Variable APR. It doesn't earn rewards, however, and balance transfers are subject to a fee of $5 or 5%, whichever is greater.

You might also consider the Citi Simplicity® Card, which offers 0% intro APR on purchases for 12 months and 0% intro APR on balance transfers for 21 months, and then the ongoing APR of 18.24%-28.99% Variable APR . The intro APR on purchases is shorter, yes, but the balance transfer offer is excellent, and the fee for transfers is 3% of the amount of each transfer (minimum $5) for balance transfers completed within the first four months. (After that, 5% of the amount of each transfer; minimum $5).

You can find better rewards

Rewards aren't a priority or a given among credit cards with super-lengthy 0% intro APR and balance transfer offers, so the fact that the U.S. Bank Shield™ Visa® Card offers them at all is something. But if you're willing to accept a shorter 0% intro APR window, you can find other credit cards that do feature excellent ongoing rewards in useful everyday categories, which can make them valuable over time. The Chase Freedom Unlimited®, for example, offers a 0% intro APR on purchases and Balance Transfers for 15 months, and then the ongoing APR of 18.99%-28.49% Variable APR. Plus, you'll earn 1.5% cash back on most purchases, as well as 5% on travel booked through Chase and 3% at drugstores and restaurants. The balance transfer fee is 3%, and unlike the U.S. Bank Shield™ Visa® Card, it has a generous welcome offer.

Credit score requirement

As is the case with other 0% APR cards, the U.S. Bank Shield™ Visa® Card requires at least good credit — typically, credit scores of 690 and above — to qualify. If your credit scores are too low to qualify for the best balance transfer cards, use these other strategies and resources to pay down debt.