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Apply online for Capital One® Platinum Credit Card
About Our Ratings
Credit Needed
Average, Fair, Limited

Capital One® Platinum Credit Card Review

Pros & Cons

  • This card doesn’t come with an annual fee, a rarity in the world of credit cards available to individuals with fair or limited credit.
  • Card holders don't have to worry about foreign transaction fees with this card.
  • There’s also no fee for balance transfers.
  • If you can swing a marginal annual fee, you might be better off with a card that offers some rewards based on your spending.

Full Review

Curtis Arnold Editor-in-chief

Capital One® uses "platinum" branding on many of its credit cards, even on accounts designed for those looking to build or rebuild credit. Compared to other credit cards for average credit, the Capital One® Platinum Credit Card offers MasterCard Platinum benefits that include extended warranty program and fraud prevention benefits. With no annual fee, you can consider applying for this card if you have limited credit history or, with responsible use, to get back on track after some financial setbacks.

Why you might qualify for Capital One® Platinum

According to Capital One®’s website, you fall under their “average” ranking if you’ve either defaulted on a loan in the past five years or have limited credit history (have had your own credit card or other credit accounts for less than three years).

Best credit card for average credit consumers

With those underwriting guidelines in mind, it's easier to understand how so many applicants qualify for the Capital One® Platinum Credit Card.

You can gain access to a higher credit line with Capital One®’s Credit Steps after making your first five monthly payments on time. Think of this as a card you can use to qualify for a better Capital One® account after about a year of solid performance, using your card responsibly.

How Capital One® Platinum compares to other platinum cards

It's hard to compare credit cards when "platinum" means so many different things at competing lenders. The Platinum Card® from American Express comes with an annual fee of $450, but includes a boatload of elite perks and privileges. Iberiabank Visa® Platinum offers an interest rate substantially lower than this card's APR (based on creditworthiness).

What you're really getting with this account is the feel-good factor of handing your cashier a platinum card from a well-known, trusted brand. You're also building a relationship with one of the fastest-growing consumer lenders in the United States, featuring an innovative online account tracker that may help you learn to manage your account wisely.

Surprising bonus benefits from a no-frills credit card

Through a partnership with MasterCard, this Capital One® account offers access to auto rental insurance, 24-hour travel assistance which offers a replacement card and a cash advance if needed and travel accident insurance when you book your itinerary using your card. 24-hour roadside assistance is also available.

Capital One® and MasterCard also provide additional warranty protection at no charge on items that are purchased with your credit card.

Capital One® Platinum Credit Card details

Balance Transfer Intro APR
Balance Transfer Intro Period
Purchase Intro
Purchase APR
24.99% (Variable)
Annual Fee

What Capital One says about this card

  • Pay no annual fee
  • Get access to a higher credit line after making your first 5 monthly payments on time
  • Fraud coverage if your card is lost or stolen
  • Use online banking to access your account, even from your smartphone with our mobile app
  • Pay by check, online, or at a local branch, all with no fee - and pick the monthly due date that works best for you
  • Get access to your account 24 hours a day, 7 days a week
  • Help strengthen your credit for the future with responsible card use

Credit Card Consumer Average Ratings:

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Credit Card Consumer Reviews:

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    wilbertJennings ( May 26, 2016 at 7:35 am)

    I have a couple Capital one cards and they have been great. I was considering this one card to eliminate all others if it would help my credit score.

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    R.Seals ( Jan 31, 2013 at 4:09 pm)

    I wish I wouldve checked the Better Business Bureau before I did any business with Capital one. Or even googled them. Awful experience & they think they can treat you any way they want. Harrassing & aggressive. This old war vet wont mess with them anymore. I wouldnt give them one star.

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    Robyn ( Nov 6, 2012 at 8:35 am)

    I've asked over and over again to have my rate of 23% lowered! I've paid on time every month more than the scheduled payment! I've suffered damages to my property to due Hurricane Sandy and have asked for assistances and gotten NOTHING! NO HELP WHATSOEVER!

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