Who is the Capital One Platinum Designed For?
Capital One's Platinum Card is a card for people who need to build their credit and are looking for a card with a low annual fee. The credit line starts at $300, but after five months of regular payments members can access higher credit lines.
What are the Interest Rates for Capital One Platinum?
Cash advances and regular purchases have a fixed APR of 24.9%.
What Are the Fees for Capital One Platinum?
The Platinum card has a $19 annual fee: one of the lowest of its category, and there are no balance transfer or foreign transaction fees to consider. It does have a $35 fee for late payments and a $10 or 3% fee, whatever is greater, for cash advances.
What Is Capital One Platinum's Rewards Program Like?
Although Capital One's Platinum card does come with useful benefits and perks, it doesn't have an actual rewards program. Members who are regular with their credit card payments could see their score increase and qualify for cards that include rewards programs.
What about Capital One Platinum's Signup Bonus?
There is no signup bonus. However, the annual fee of $19 is waived for the first year, which is something.
Any Other Benefits Included with the Capital One Platinum?
The Platinum card comes with the regular benefits offered by all Capital One cards. That includes 24/7 customer service, travel accident insurance, price protection on purchases and a credit tracker. The credit tracker provides members with free and unlimited access to their FICO score, as well as tools help them manage and improve their score.
As a Platinum MasterCard it includes additional benefits such as extended warranty on purchases, auto rental insurance, travel accident insurance, 24-hour roadside assistance and price protection on certain items.
How Is Capital One Platinum Better Than Other Credit Cards?
Capital One's Platinum is one of the more inexpensive credit-building credit cards. It doesn't require a security deposit and its credit requirements are not hard to meet. Once you have established a regular payment history of five months, you can increase your credit limit, which is important for those who only qualify for a low initial credit limit. Unlike other credit cards design to build credit, it includes flexible payment options that grant 24-hour access to your accounts and allows you to pay online, by check or at a local branch.