Capital One Platinum Credit Card Review

Designed for People Building Credit

making a purchase online with a credit card.
••• Peter Dazeley / Getty Images

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

Ongoing APR 26.99%
Balance Transfer APR 26.99%
Late Payment Fee Up to $39
Recommended Credit Score Average or building credit
This card has no annual fee, sign-up bonus, rewards rate, intro APR, balance transfer fee, or foreign transaction fee

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

  • High APR

  • 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
This card has no penalty APR, returned payment fee, or overlimit fee.

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.

Next Steps

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

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