Capital One Platinum Credit Card Review
Designed for People Building Credit
Capital One Platinum is described by Capital One as a credit card for people with average credit. For Capital One's credit approval purposes, average credit means you've defaulted on a credit card or loan within the last five years or you've had your own credit for less than three years.
Capital One Platinum Card Details
|Balance Transfer APR||26.99%|
|Late Payment Fee||Up to $39|
|Recommended Credit Score||Average or building credit|
Pros & Cons of Capital One Platinum Card
What We Like
No annual fee
Average or building credit qualifies
Credit limit can increase with five months of on-time payments
What We Don't Like
No rewards or sign-up bonus
Capital One Platinum Card Sign-up Bonus
This card has no sign-up bonus.
Earning Points & Rewards
This card has no points or rewards.
While the Capital One Platinum card does not offer points or rewards, the main reason to get it is to build or repair credit. Once you have done that, you can apply for a points card.
Capital One Platinum Card's Additional Fees
|Cash Advance APR||26.99%|
|Cash Advance Fee||Either $10 or 3% of the amount of each cash advance|
Is This Card Right For You?
You won't earn any rewards with the Capital One Platinum Card, but that doesn't mean the card isn't beneficial. Because you can get approved with average credit, you can use the card to start rebuilding your credit so you can qualify for something better in the future.
You can keep track of your credit score with Capital One's CreditWise tool—a perk that's actually available to anyone, even if you decide not to go with the Capital One Platinum Card.
To apply for a Capital One Platinum Card, go to the company's website.
Credit card terms and sign-up bonuses are subject to change from the time of this review. Refer to the application for current terms and conditions.
Edited by LaToya Irby