The Capital One Platinum Credit Card can be attractive to consumers who are looking for a card with an annual fee. The Capital One QuickSilverOne Cash Rewards Credit Card has a $ 39 annual fee.
However, the Capital One Platinum Credit Card does not have a reward program. Consumers in the same credit category who want to earn rewards may consider a Capital One QuickSilverOne Cash Rewards credit card, which earns 1.5% cash on every purchase.
The card charges 26.99% (variable) APR and offers no introductory 0% APR. APR is not unheard of for consumers with fair or limited credit, but 26.99% (variable) is still above average, accordingly. US News Research.
Capital One Platinum Credit Card Payment facilities
This card provides these options for making purchases and paying your bill every month:
- Tap to pay. Grab or tap your card on a contact-enabled card reader to make in-store purchases. This can give you peace of mind when shopping during and after the COVID-19 epidemic.
- Autopoy. Enroll in AutoPay, and your credit card payment will be made automatically every month.
Cash Advance Fee: The card charges a 3% cash advance with a $ 10 minimum, and a late fee of up to $ 40. Most cards charge a 2% to 4% cash advance, so the Capital One Platinum Credit Card is in this majority. The minimum fees are usually between $ 5 and $ 10.
Foreign Transaction Fee: Capital One Platinum Credit Card does not have foreign transaction fees.
Annual Fee: The card has no annual fee, so you should not worry about paying to build your credit. Of course, until you pay interest on your balance.
Balance Transfer Fee: The card also does not have a balance transfer fee, but the amount transferred becomes the same 26.99% (variable) APR.
Should you get a Capital One Platinum Credit Card
- Have limited or reasonable credit and seek to improve their credit score with responsible use.
- Not worried about earning rewards.
- Want to avoid maximum fees.
Questions about Capital One Platinum Credit Card
Question: Are there rewards in the Capital One Platinum Credit Card?
A: Capital One Platinum does not offer credit card rewards programs.
Question: Is Capital One Platinum Credit Card a good credit card?
A: Consumers who want a basic unsecured credit card without an annual fee can avail the Capital One Platinum Credit Card. It is a good alternative to secured cards and gives eligible cardholders access to a higher credit line for six months. However, it lacks an award program and has a high APR.
Question: What credit score is required for Capital One Platinum Credit Card?
A: The Capital One Platinum Credit Card is designed for average, fair or limited credit, so you may need a FICO credit score of at least 580 to qualify. But it is possible that you will be approved with a low score.
Q: What are the other application qualifications for Capital One Platinum Credit Card?
A: Applicants must meet monthly income requirements and have fewer than two open credit card accounts with Capital One.
Q: Can you increase the credit limit with Capital One Platinum Credit Card?
A: Cardholders can be automatically considered for a higher credit line six months after opening an account.