Because credit limits tend to be lower for those with average credit, access to a higher credit line can be beneficial. The Capital One Platinum can help you if your goal is to build credit or raise your credit limit.
In addition, to help you keep track of your finances, you’ll get 100% free access to the Capital One Credit Tracker enabling you to access your credit score, a credit simulator, and other tools that will help you monitor your credit profile.
This is overall an attractive option if you have average credit. However, the high interest rate means you won’t want to carry a balance from month to month.
Table of Contents
Capital One Platinum Credit Card Summary
Capital One Platinum’s Lack Of Fees
No need to pay an annual fee, nor any foreign transaction fees when you make purchases abroad. It also doesn’t cost anything to transfer your credit card debt. However, don’t make any balance transfers, because the APR on the Capital One Platinum card is very high unless you’re currently paying a penalty APR which is higher than the Platinum card’s.
Earning & Redeeming Rewards
Unfortunately, you can’t earn points or cash back with this card. That means there are also no rewards for using this card.
Instead, its main function is to help you manage your spending and build credit.
Although the Capital One® Platinum Credit Card is pretty bare-bone, that’s not to say you won’t get perks included with your card. In fact, cardholders can enjoy Platinum Mastercard benefits. Benefits include extended warranty coverage, price protection, auto rental insurance, travel accident insurance, travel assistance and roadside assistance. Here are some other perks that will help you:
- No Transfer Fee: Currently paying interest on credit card debt with a rate higher than the current variable APR rate? Move it over to this card if better balance transfer offers are unavailable! Make sure you avoid carrying a balance on this card each month. Due to the high APR, you could lose some money to interest.
- Credit Steps: The Capital One® Platinum Credit Card is part of the “Credit Steps” program. You can be automatically considered for a higher credit line in as little as 6 months
- Capital One® CreditWise®: Monitor your credit score with this service. For individuals rebuilding their credit, this can be a good way of tracking progress.
- No Foreign Transaction Fees: Use this card abroad without paying a fee. Most credit cards normally impose a 3% fee on all purchases made outside of the U.S. This fee is waived for Capital One’s cardholders.
Although you won’t earn rewards with the Capital One® Platinum Credit Card, you’ll still gain valuable benefits that will help you build your credit. Such benefits include a higher credit line, fraud coverage, and a credit tracker. With no annual fee and these perks, this card can be worth looking into if you have average credit. Eventually, you might get a better Capital One card, like the Capital One Quicksilver Cash Rewards Credit Card.
If your credit is good or you’re looking for something else, find out which card is fit for you by checking out our complete list of credit card promotions today!
Learn more about this card and find out how you can apply here.
Other Credit Cards To Consider
The Capital One® Quicksilver® Cash Rewards Card offers a one-time $200 cash bonus after spending $500 on purchases within 3 months from account opening.
You'll be able to earn an unlimited 1.5% cash back on every purchase, every day with no rotating categories or sign-ups needed to earn cash rewards.
This card comes with no annual fee and no foreign transaction fees which makes this card a viable option for your go-to everyday card.
The Best Bank Offers are updated here. See the below pages to get started with some of the best offers:
• Chase Bank Offers. Chase offers a range of attractive Checking, Savings and Business Accounts. Chase has a great selection of sign-up bonuses in comparison to other big banks.
• HSBC Bank Offers. HSBC Bank routinely has offers for several of their Personal Checking and Business Checking accounts. They also have a good referral program.
• Huntington Bank Offers. Huntington Bank has high bonus amounts available through their Checking and Business Checking. Huntington also offers a Business Premier Money Market Account.
• Discover Bank Offers. Discover Bank offers top cashback, savings, money market accounts and CD rates for you to take advantage of. Discover has industry leading selections to cater to your banking needs.
• TD Bank Offers. TD Bank consistently offers a fantastic selection of checking accounts to cater to your banking needs. However, savings account offers are less frequently available.
|Chase Business Checking||$300 Cash||Review|
|Chase Total Checking®||$200 Cash||Review|
|Chase SavingsSM||$150 Cash||Review|
|Chase Private Client||$2,000 Cash||Review|
|HSBC Premier Checking Member FDIC||$450 Cash||Review|
|HSBC Premier Checking Member FDIC||Up To $600||Review|
|HSBC Advance Checking Member FDIC||$200 Cash||Review|
|HSBC Advance Checking Member FDIC||Up To $240||Review|
|TD Bank Beyond Checking||$300 Cash||Review|
|TD Bank Convenience CheckingSM||$150 Cash||Review|
|Huntington 25 Checking||$500 Cash||Review|
|Huntington 5 Checking||$200 Cash||Review|
|Huntington Asterisk-Free Checking®||$150 Cash||Review|
|Huntington Bank Unlimited Plus Business Checking||$750 Cash||Review|
|Huntington Bank Unlimited Business Checking||$400 Cash||Review|
|Huntington Bank Business Checking 100||$200 Cash||Review|
|Axos Bank Basic Business Checking||$100 Cash||Review|
|Ally Invest||Up to $3,500 Cash||Review|