The Capital One Platinum creditcard is one of best options to build and maintain good credit scores. Its no annual fee and $0 foreign transaction fee make it a solid choice.
However, the Capital One Platinum cards has an interest rates that is higher than average. The card is not suitable for those who have a tight budget or need to reduce their debt. Capital One Secured Mastercard might be a better option. It comes with no annual fee and a non-refundable security deposit.
While the Capital One Platinum Card does not offer rewards, there are a few features that will benefit your credit. You'll be able to access the Capital One CreditWise credit-building tools. You will also get educational content and a credit score for free.
The bill can be paid online or in person at the local branch. TransUnion, Equifax and Experian will report your payments. Your credit score will improve if you keep your balance current and make timely payments. By continuing to use Capital One Platinum credit, you can increase both your credit line as well as your credit utilization.
Additionally, the Capital One Platinum card has some cool travel perks. Foreign transaction fees are waived so that you can use the card while traveling abroad.
These features are not the only ones offered by Capital One Platinum Card. After six months, you will receive an automatic credit increase. Based on your credit history, you will receive a new credit limit once you are approved.
To apply for the Capital One Platinum card you will need to fill out an Application. Your credit score as well as your income determine your eligibility. In general, applicants with a FICO score below 580 are eligible for a credit card. Some companies have strict guidelines. If you have a history of delinquencies, for example, you may not be approved.
Capital One Platinum cards also have a lower credit utilization than the average. You can improve your credit score by lowering credit utilization. The Capital One Platinum is a great way to build credit history, even if you aren't eligible 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.
The Capital One Spark Miles Select card for business is another option. These cards will allow you to get cash back and redeem your rewardpoints for Amazon shopping.
Additional features to be aware of when applying for Capital One cards are the low annual fee, security alerts, as well as fraud liability. Some people might complain that there isn't much to do with the Capital One Platinum card, but it's a good choice for anyone who needs a little help rebuilding their credit.