Capital One Platinum Card: Ideal for Fair Credit Scores
- Annual fee
- None
- Recommended credit
- Good / Fair
- Card network
- Mastercard
- Regular purchase APR
- 30.74% variable based on the Prime Rate
At a glance
Anyone looking to build up their credit should consider the Capital One Platinum Credit Card, which grants cardholders with average credit access to a higher credit line after showing they’re responsible by making their first 5 monthly payments on time. The card’s interest rate encourages paying down one’s balance every month, creating the habits that will help users attain that better credit score they’re striving for.
Our review of the Capital One Platinum Card
The Platinum Mastercard® from Capital One is perfect for those wanting to establish a positive credit history. With no annual fee and automatic credit line reviews, it’s a great choice for those seeking a straightforward credit card option.
Credit Needed
The Platinum Card By Capital One is tailored for individuals looking to build a strong credit history. Applicants with near-prime credit scores are the target market, amidst other card offers from Milestone, Destiny, Mercury, and more. To apply for the Platinum Card, a fair credit score is typically required.
Best for Average Credit
While the Capital One Platinum Credit Card may not be the most flashy option available, its lack of an annual fee, credit-building features, and guaranteed minimum credit line of $300 make it an attractive choice.
This card is ideal for those wanting to showcase financial responsibility with unsecured credit, or for those transitioning from the Capital One Platinum Secured Credit Card. It offers a solid foundation for credit growth with perks like free credit monitoring through CreditWise, monthly reporting to major credit bureaus, and the potential for an automatic credit line increase after six months.
Capital One Platinum Card Benefits
- No Annual Fee: Enjoy the benefits of unsecured credit without the burden of an annual fee.
- Automatic Credit Line Reviews: Show responsible credit behavior to potentially earn a credit line increase within six months.
- CreditWise Access: Monitor your credit health with Capital One’s credit monitoring platform, CreditWise.
Other Card Benefits
- 24/7 customer support
- Eno®, your Capital One assistant for account monitoring
- Zero Liability Protection for fraud
- ID Theft Protection
Tips for Building Credit
- Check your credit file regularly
- Keep credit utilization low
- Always pay bills on time
- Become an authorized user on a credit card account
- Limit new credit applications
What We Like About the Platinum Card
- Accessibility
- Lack of an annual fee
- Competitive interest rate
- Fraud protection
- Credit monitoring through CreditWise
Things to Consider
- Reported issues with customer service
- Difficulty obtaining credit line increases
- Lack of traditional rewards program
Should You Apply for the Platinum Credit Card from Capital One?
While the Platinum Credit Card from Capital One has its advantages, there are better options available for those with fair credit scores. With no rewards program and a high APR, this card may not be the most appealing choice for credit-building. Consider exploring other card offers for more enticing options.
Card features
Benefits as listed on the original card page. They can change; confirm details with the issuer.
- No annual or hidden fees. See if you're approved in seconds
- Be automatically considered for a higher credit line in as little as 6 months
- Help build your credit through responsible use of a card like this
- Enjoy peace of mind with $0 Fraud Liability so that you wo't be responsible for unauthorized charges
- Monitor your credit score with CreditWise from Capital One. It's free for everyon
- Get access to your account 24 hours a day, 7 days a week with online banking from your desktop or smartphone, with Capital One's mobile app
- Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you're all set
- Pay by check, online or at a local branch, all with no fee - and pick the monthly due date that works best for you
Who this card may suit
- You do not want to pay an annual fee
- You want to build up your credit quickly
- You enjoy the freedom and convenience of mobile banking
Rates, fees and terms
| Annual Fee | None |
|---|---|
| Regular Purchase APR | 30.74% variable based on the Prime Rate |
| Balance Transfer APR | 30.74% variable based on the Prime Rate |
| Balance Transfer Transaction Fee | 3% of the amount of each transferred balance that posts to your account at a promotional APR that we may offer you. None for balances transferred at the Transfer APR. |
| Cash Advance APR | 30.74% variable based on the Prime Rate |
| Cash Advance Transaction Fee | 3% of the amount of the cash advance, but not less than $3 |
| Late Payment Penalty Fee | Up to $40 |
| Over Limit Penalty Fee | None |
Confirm before you apply: rates, fees and offers change often. The figures above are the ones listed on the original card page, not a current quote from the issuer. APRs are typically variable, and the rate you receive depends on your creditworthiness. Recommended credit: Good Credit Fair Credit.
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Capital One Platinum Card
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