The Capital One Platinum creditcard card is one the best for building and maintaining good credit. The card is a solid choice because it has no annual fees and $0 foreign transaction fees.
The Capital One Platinum credit card charges an interest rate higher than the average. The card is not suitable for those who have a tight budget or need to reduce their debt. Capital One Secured Mastercard would be a better choice. It is free of annual fees and comes with a refundable security bond.
Although the Capital One Platinum cards does not offer rewards they do have a few features which can benefit your credit. Specifically, you'll have access to the Capital One CreditWise suite of credit building tools. Additionally, you'll have access to educational content.
You can pay the bill online or at a local branch. TransUnion, Equifax and Experian will report your payments. By maintaining your balance and making payments on time, you'll improve your credit score. The Capital One Platinum credit credit card can be used to increase credit lines and reduce credit utilization.
The Capital One Platinum card also offers cool travel perks. With no foreign transaction fees, you can use your card when traveling outside of the U.S. You can also enjoy emergency card replacement services.
These features are not the only ones offered by Capital One Platinum Card. After six months, you will receive an automatic credit increase. Your credit history will determine your eligibility for a credit line increase.
An application is required to apply for Capital One Platinum. Your income and credit score will determine your eligibility. Most applicants can get a card if they have a FICO score of 580 or higher. However, some companies have specific guidelines. You may not be approved if you have a history delinquent.
Another advantage of the Capital One Platinum card is that it has a lower than average credit utilization rate. It is a great way for you to raise your credit score by lowering your credit utilization. The Capital One Platinum can help you establish credit history even if your credit score isn't high enough to qualify for a card.
The Capital One Platinum Credit Card offers a great option for people with good credit, despite the high interest rate. It does not require an upfront deposit so it is a good choice if you are just starting to build your credit.
Other cards you might consider are the Capital One Spark Miles Select Business. These cards can earn you cash back or redeem your reward points to shop at Amazon.
Additional features to be aware of when applying for Capital One cards are the low annual fee, security alerts, as well as fraud liability. While some might be disappointed that the Capital One Platinum Card doesn't offer much, it's an excellent choice for anyone looking to rebuild their credit.