Capital One Platinum Credit Card
Capital One offers credit cards that earn you points and help you pay without stress. This is our Capital One Platinum Credit Card Review.
When credit cards were first introduced to the masses over 25 years ago, they were simply used to provide a method of payment and nothing else. There were no rewards for credit cards, and managing your finances in creating credit was not the concern of all credit card holders. Think of the Capital One Platinum credit card as a return to simplicity.
Capital One Platinum Credit Card Review
The Capital One Platinum credit card is as simple as possible. It is an unsecured credit card designed for those with average, regular, or limited credit. It does not come with rewards. But this is an ideal first credit card with a minimum credit limit of $300 if approved.
Although the Capital One Platinum credit card is not rewarded, it has several advantages. These are:
- Get a higher credit limit after making your first 5 monthly payments on time.
- Lost or stolen cards can be a headache for card owners. The Capital One Platinum Credit Card offers $0 fraud liability if your card is lost or stolen.
- Access your credit score and score tracking tools for free through Capital One’s CreditWise program.
- Capital One Platinum Credit Card offers $0 annual fee.
- Choose your own due date and payment method.
- Get an additional extended warranty on items purchased with the card.
- Car rental insurance when you rent a car with the card.
- Get 24-hour roadside assistance.
- Use the card with Apple Pay.
- Get price protection on eligible items you find at a lower price within 60 days of purchase when you pay with the card.
What we like
Capital One offers credit cards that earn you points and help you pay without stress. Let’s go over some details in our Capital One Platinum Credit Card Review.
Let’s start with the positive. The Capital One Platinum credit card allows consumers with average credit to obtain an unsecured line of credit. This means that a deposit is not required to make purchases with your card. The purchase APR associated with this card is variable at 24.99%.
As for benefits, the Capital One Platinum credit card does not have an annual fee. The card does not charge foreign transaction fees. No additional fees will be charged on all purchases made on foreign soil (or online for foreign merchants)
What could be better
You won’t find a rewards program associated with the Capital One® Platinum credit card and if you need a balance transfer, moving your balance to a variable at 24.99% is not a good idea. This card offers the minimum in terms of benefits, but all you will find is an unsecured line of credit for those with average credit.
How to qualify for the card
Credit card issuers generally do not disclose details of the people they approve to obtain credit. Called subscription, this process varies from one credit card to another. However, in the case of the Capital One Platinum credit card, Capital One offers advice.
More specifically, a candidate is not eligible for this card if:
- My application is received after the expiration of this offer, is incomplete, illegible, inaccurate or cannot be verified.
- My address is not in one of the following locations: the United States, Washington, DC, or a US military location. USA
- My address is a correctional facility.
- My monthly income (my total disclosed annual income divided by 12) does not exceed my monthly rent or mortgage payment by at least $425. Or, Capital One determines that I cannot make my monthly payments.
We know how hard it is to select a credit card that can actually benefit a consumer. That’s why we’ve prepared this Capital One Platinum Credit Card Review.
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