The Capital One Platinum creditcard is one of best options to build and maintain good credit scores. It is an excellent choice due to its low annual fee and $0 foreign transactions fee.
However, the Capital One Platinum card comes with an interest rate 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 may be a better alternative. You get a Zero Annual Fee and a 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. Access to educational content, as well as a free credit score, will be available.
You can pay the bill online or at a local branch. TransUnion, Equifax, Experian all report the payments. Paying on time and maintaining your balance will help you improve your credit score. The Capital One Platinum credit credit card can be used to increase credit lines and reduce credit utilization.
Additional perks include travel benefits with the Capital One Platinum credit card. No foreign transaction fees apply so you can travel abroad with your card.
The Capital One Platinum Card also offers an automatic credit line growth after six months. Based on your credit history, you will receive a new credit limit once you are approved.
You will need to complete an application when applying for Capital One Platinum cards. Your credit score as well as your income determine your eligibility. Most applicants can get a card if they have a FICO score of 580 or higher. Some companies have strict guidelines. It is possible to be denied approval if your past delinquencies are a problem.
Capital One Platinum cards also have a lower credit utilization than the average. Lowering your credit utilization rate is a great way to raise your credit score. 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 has a high interest rate but is worth it for those with fair or average credit. This card is a good option for those just beginning to build their credit.
The Capital One Spark Miles Select card for business is another option. These cards allow you to earn cash back and redeem your reward points for Amazon shopping.
Other features that you'll want to look for when applying for a Capital One card are low annual fees, security alerts, and 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.