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Capital One Platinum Credit Card

Capital One Platinum Credit Card
Our Take:

This card has fewer perks than many of it's Capital One cousins, but it's a foundational card for building credit. It could be a great addition to your wallet if you're looking for a no frills card from a reputable issuer that gives you the tools to build your credit score in a smart way. Skip to our full review

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  • Highlights
    • No annual fee
    • Credit limit increases possible after 5 months of on-time payments
    • Access 24/7 to Capital One's mobile app
    • No payment fees - includes online or in person
  • Regular APR
    24.99% (variable)
  • Credit level
    Good, Fair, and Bad Credit
  • Building CreditBuilding Credit
  • Bad CreditBad Credit
Fees
  • Annual Fee
    No annual fee
Capital One Platinum Credit Card Review

The Capital One Platinum card is a pretty vanilla card. It’s certainly not the worst card you could have in your wallet if you have a less than stellar credit score. For people with a “Fair” score, who don’t have a lot of high reward options, the Capital One Platinum card offers a stepping stone to better credit and a higher credit limit through the “Credit Steps” program. This program allows people with below-average credit to increase their limit by making timely payments.

There’s no balance transfer fee at the time of writing this. However, this is not a balance transfer card. The high APR will make transferring any large balance counterproductive. Instead, people with “Fair” credit should use this card to propel their credit score into the “Good” or “Excellent” territories.

To make the best use of this fundamental card, only charge what you can afford to pay each month. Once the bill comes around, pay it in full prior to your payment due date. In doing so, you will build your credit in a positive light and gain access to a higher spending limit with Capital One “Credit Steps” program.

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Editorial Note:

This content is not provided by Capital One. Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Capital One.