All platinum cards are not created equally – especially when it comes to the Capital One Platinum Credit Card. Thanks to music and movies, owning a platinum card has become synonymous with glitz and glamour. If you have one in your wallet, you are going somewhere.
But, what does it take to obtain one? And, what if your credit is less than perfect?
This is the good news about Capital One’s platinum card. Let’s discuss the details of the card, giving you everything you need to know about what it has to offer. And, of course, what you should look out for.
Capital One Platinum Credit Card: An Overview
If you are struggling to build your credit – or if you are re-building it due to past financial mistakes – you may still have a chance to obtain a platinum card from Capital One. Believe it or not, they do not require perfect credit. Consumers with average credit receive the best benefit as they are able to apply and receive the platinum card while working to build up their credit even more.
The initial credit limit may start off small, but with a few months of on-time payments, Capital One is likely to offer an increase in credit.
Are you ready for the perks?
There is no annual fee. This is not heard of too often in the credit card world, so it definitely a benefit of the Capital One Platinum Credit Card. And, because you are walking with a platinum card, you earn the platinum rewards. This may include auto rental insurance, travel insurance, roadside assistance, and more.
Plus, if you travel often, you know just how expensive foreign transaction fees can be. They add up with each purchase. The Capital One Platinum Credit Card charges no foreign transaction fees. And, for those looking to transfer balances from other cards, you will be happy to know that Capital One does not charge a fee to do this.
With all this good, there must be a downfall. And, there is. The APR is considerably high, especially when compared to other credit cards. In fact, Capital One Platinum Credit Card comes with a 24.99% APR.
Capital One Platinum Credit Card is the perfect credit card for the individual with the average credit score. It offers:
- No annual fee
- APR of 24.99%
- Free balance transfers
- Free foreign transaction fees
- Availability to access your account online and on Capital One’s mobile app any time of the day or night.
- The ability to choose your own due date. Since you are working to increase your credit score – and your credit line – you want to make sure you make your payments on time each month. This option allows you to choose the day that works best for you and your finances.
- Statements can be received electronically and paid online.
- If you are looking to boost your credit score, Capital One reports to all three major credit bureaus. So, as long as you use your card responsibly, you will benefit from a boost to your credit score.
Lastly, the Capital One Platinum Credit Card is backed by the name, Capital One. It holds a reputation and standard in the financial world that is unmatched by many others. They stand by their credit card and their customers.
The final word
Having good credit is important in our society. In fact, your credit score, in a sense, gives an overview of how honest, trustworthy, and responsible you are. When the time comes to purchase a home, your first car, or rent an office space for your new business, you will need to prove that you are creditworthy. And your credit score will do just that.
Companies in the financial industry, like us, know that perfect credit is not always possible. Thankfully, you have the opportunity to lift your score and carry something notable in your wallet – a Capital One Platinum Credit Card.