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If your credit has taken a couple of knocks, you probably realize that you aren't eligible for the best credit card deals. But if you're willing to maintain current payments going forward, and especially if you can avoid carrying a balance, the Capital One Classic Platinum card may be your ticket back to good credit. The Capital One Classic Platinum card provides the benefits of a real credit card from a reputable credit card company.

Who Is the Capital One Classic Platinum Card Designed For?

This card is designed for people who need or want a credit card but who don't qualify for credit cards with great rewards or cash back deals. The Capital One Classic Platinum card is ideal for disciplined individuals who are prepared to establish and maintain a consistent on-time payment record in a quest to improve their overall credit profiles and FICO scores. It is not a good choice for individuals who carry large balances, due to its high APR, and its hefty late fees make it a bad choice for people who are less than conscientious about paying their bills on time.

What Are the Rates for Capital One Classic Platinum?

Purchases and balance transfers have a rate of 24.99% APR.

Are There Annual Fees for Capital One Classic Platinum?

There is no annual fee.

Does the Capital One Classic Platinum Card Offer Rewards?

The Capital One Classic Platinum Card does not offer a rewards program per se. However, unlike many credit cards, there is no boost in the APR for cash advances. You can also qualify for a credit line increase after making your first five monthly payments on time. You also qualify for many of the benefits offered by Capital One to all of its customers, including 0 dollar Fraud Liability in case of unauthorized transactions and the Credit Tracker program, which includes free access to your FICO score.

Are There Foreign Transaction Fees for Capital One Classic Platinum?

There are no foreign transaction fees, which is a nice perk for a fair credit card.

Are There Late Payment or other Penalty Fees for Capital One Classic Platinum?

The late payment penalty fee is a hefty 35 dollars. There is also a cash advance fee of 10 dollars or 3 percent of the total cash advance, whichever is greater. But late payments won't trigger a penalty APR, which is of more than minor consequence.

How Is Capital One Classic Platinum Better Than Other Credit Cards?

The bottom line is that if you want to boost your credit profile and can qualify for an unsecured credit card, the Capital One Classic Platinum card is not a bad choice. But you must be meticulous about maintaining on-time payments, preferably in full. This is definitely not a card that you want to max out.

  • Credit Score Range
    640 - 750
  • Minimum Age
  • Customer Type
  • Grace Period / Deferred Interest (Months)
  • Late Payment Penalty
  • Minimum Interest Charge
  • No Annual Fee
  • No Foreign Transaction Fee
  • Card Type
    • Low Interest
    • Rewards
  • Card Network
  • Car Rental Insurance
  • Emergency Support
  • Extended Warranty
  • Fraud Liability
  • Free FICO Score
  • Travel Insurance
  • Purchases APR (variable)
    Starting at 24.99%
  • Balance Transfer APR (variable)
    Starting at 24.99%
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