Capital One Platinum Credit Card Review

Platinum Credit Card (MasterCard) issued by Capital One Financial is one of the most convenient and rewarding in terms of use cards available to people with average credit rating.

Where ‘average’, according to the bank providing, implies either limited credit history or default on a loan within the past five years.

Choosing this credit card people with such seemingly unfavorable for the bank qualities can not only have their own credit card but also take advantage of its special features.

Like travel and auto rental insurance, free extended warranty, balance transfer, annual account summary, financial tools and tips, etc.

Capital One Platinum Mastercard Credit Card Review:

More on Who Can Qualify for the Card

If you are 18 years old or above, you can qualify for Capital One Platinum Credit Card.

Additionally, the following categories of customers can also apply for it:

– Three years or fewer credit cards owners.

– People that have never had their own credit card in the U.S. (e.g., recent immigrants, other authorized users or joint account holders on someone else’s CC).

– People having a valid SSN.

Platinum Credit Card Details

  • There is no annual fee, max over-limit fee, max penalty APR and foreign transaction fee.
  • It provides the longest possible grace period (25 days) and max late fee amounts to $35.
  • Cash advance fee amounts to 3% (min $10) and cash advance rate to 24.9%.
  • Platinum Credit Card issued by Capital One features a smart feature (chip-and-signature).

Benefits of Capital One Platinum Mastercard

Capital One Platinum Credit Card

As Platinum MasterCard this one comes with a number of benefits:

  • It stipulates credit limit increase. If payments made during the first five months are on time, the holder can qualify for this offer.
  • There is $0 fraud liability: if the card is stolen/lost, the owner won’t be responsible for fraudulent transactions made on it.
  • To be fully informed the holder can manage his/her account 24/7 using an online banking option. Likewise, an account can be accessible from a smart phone via the bank’s mobile app.
  • Using Capital One Platinum Credit Card a person has a free unlimited access to monitoring his/her credit profile via Capital One Credit Tracker.
  • Finally, with text message alerts and personalized emails service the owner will be able to keep track of each and every spending.

Related:

Does Capital One do Personal Loans

There are some other benefits except these major ones that will be not less appreciated by customers.

Firstly, choosing cover image or design (of hundreds available) the holder can personalize his/her card.

Read: Capital One auto loan review

Secondly, all payment features are customizable; the holder can choose his/her own monthly due date, preferred payment method as well as autoplay option).

Finally, it provides major travel related options (insurance, 24-hour travel assistance, etc.).

2 Comments
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  1. Ahmed says

    For me, the recent immigrant, Capital One Platinum credit card has become the first available prepaid card. And you know what, even if I were a native-born American citizen, I would consider this credit card in the first place. It is extremely convenient and very rewarding. And also favorable. There is no annual fee and max over-limit fee but instead a pretty long grace period is offered. That does sound perfect for a start.

  2. Joseph says

    Striving to find any credit card I could get, Capital One Credit Card seemed the only option. The company offers its services for all the authorized users. In a while, a realized that it is the most convenient credit card for people with quite an average credit history, like me. There are no annual fees, transaction fees, maximal over-limit and other fees. Additionally, you can increase the credit limit, diligently making the payments for 5 months.

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