If you’re ready to get a first credit card or a new one, it might be time to start researching options. Now, you can find hundreds and possibly thousands of credit cards on the market. Almost every American has one, and most people tend to have four at the minimum. If you’re considering one, it might be best to read through this Capital One Platinum review to see if this card is right for you and your needs.
The Capital One Platinum card is one of the most popular options for people who want to improve their credit scores. It doesn’t have an annual fee, which means you don’t have to pay to use the card. Along with such, you’ll get a higher credit line if you make your monthly payments on time for the first five months. Plus, the card company doesn’t charge you a fee to raise your credit limit.
Capital One Platinum Review: A Quick Glance
Regardless of where you live or work, you’re sure to have heard of Capital One. It’s one of the top largest banks in the United States and provides a variety of financial services to individuals and businesses, such as car, student, and installment loans, checking accounts, and credit cards.
The company operates in Canada, the UK, and the US. Customers have access to 13 different cards, including the Capital One Platinum. You’ll also find the QuicksilverOne Rewards, Venture One Rewards, and Journey Student Rewards. Every card has various eligibility requirements and characteristics.
Since this is a Capital One Platinum review, it’s best to stick with this card option and talk about the perks of this card in particular. As such, you will find many features when you use this card, including:
- No fees for foreign transactions
- Personalized payment choices
- Account/security alerts
- Automatic payments
- Access to CreditWise, Mobile, and Capital One Wallet apps
- Coverage for fraud
- 24/7 customer service
- 24/7 Travel Assistance
- Travel Accident Insurance
These are the perks available with any Capital One card, which shows you just how much the company wants your business. You can also add users to your account and have access to real-time credit monitoring.
Your Capital One Platinum MasterCard Review: The Basics
The Capital One Platinum MasterCard review allows you to make an informed decision about which card is best for you. This credit card doesn’t have any annual fees, but you can actually raise your credit line after making your first five payments.
While many cards like this require you to have near-perfect credit, this card is available to people with average credit scores. Those with limited or fair credit, or students, may enjoy the flexibility offered with this card. As long as you pay the minimum payment each month, you can request more credit in five months.
Some customers use the Platinum card to rebuild or increase credit scores. You can increase your credit score by up to 20 points after making your first three payments. Therefore, it’s an excellent starter card. Plus, you don’t have to pay a security deposit or have perfect credit, but you still have access to plenty of perks.
Pros and Cons
No Capital One Platinum review article would be complete without listing a few of the benefits and drawbacks. You can have an average/limited credit history to apply, don’t have to deal with balance transfer/annual fees, and can pay online or by mail. You will automatically start with a $300 minimum limit and can raise that after five months of on-time payments. However, the Capital One Platinum doesn’t offer bonus points or rewards for use, and it does have a 24.99 percent variable APR, which is somewhat high.
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