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Capital One Platinum Credit Card – Full Review

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Alex Miller
Alex Miller's image

Alex Miller

Founder & CEO

295 Published Articles

Countries Visited: 34U.S. States Visited: 29

Founder and CEO of Upgraded Points, Alex is a leader in the industry and has earned and redeemed millions of points and miles. He frequently discusses the award travel industry with CNBC, Fox Business...
Edited by: Stella Shon
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Stella Shon

News Managing Editor

94 Published Articles 666 Edited Articles

Countries Visited: 25U.S. States Visited: 22

With a degree in media and journalism, Stella has been in the points and miles game for more than 6 years. She most recently worked as a Corporate Communications Analyst for JetBlue. Find her work in ...
& Kellie Jez
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Kellie Jez

Director of Operations & Compliance

6 Published Articles 1179 Edited Articles

Countries Visited: 10U.S. States Visited: 20

Kellie’s professional experience has led her to a deep passion for compliance, data reporting, and process improvement. Kellie’s learned the ins and outs of the points and miles world and leads UP’s c...

We may be compensated when you click on product links, such as credit cards, from one or more of our advertising partners. Terms apply to the offers below. See our Advertising Policy for more about our partners, how we make money, and our rating methodology. Opinions and recommendations are ours alone.

Capital One Platinum Credit Card
Terms Apply / Rates & Fees

Capital One Platinum Credit Card

U.P. Rating
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
4
Learn More(at our partner's secure site)
  • None

  • $0

  • 29.99% (Variable)

  • Fair to Good (580-739)

Capital One Platinum Credit Card

The Capital One Platinum card is great for those looking to build up their credit score and credit history, without paying a deposit or annual fee.

U.P. Rating
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
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Learn More(at our partner's secure site)

If you’re ready to get serious about building or rebuilding your credit, you’ll want a credit card for which approval is probable, one that has a simple structure and is easy to manage, and ideally, has some benefits you can use. This is where the Capital One Platinum Credit Card really shines.

Card Snapshot

Welcome Bonus & Info

  • No annual or hidden fees. See if you're approved in seconds
  • Be automatically considered for a higher credit line in as little as 6 months
  • Help build your credit through responsible use of a card like this
  • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
  • Monitor your credit score with CreditWise from Capital One. It's free for everyone
  • Get access to your account 24 hours a day, 7 days a week with online banking from your desktop or smartphone, with Capital One's mobile app
  • Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you're all set
  • Pay by check, online or at a local branch, all with no fee - and pick the monthly due date that works best for you

Pros

Cons

  • Does not earn rewards
  • The high APR can be costly if you carry a balance

Great Card If

  • You’re looking for a card to build your credit
  • You want a card with no annual fee (rates & fees) or security deposit

Don’t Get If

  • You already have a good credit score
  • You want to earn credit card rewards

The Ideal Cardholder

As mentioned earlier, it’s possible to improve your credit without incurring expenses. The Capital One Platinum card facilitates this by not charging an annual fee, providing free tools to help you manage your credit, and providing complimentary useful benefits.

Capital One Platinum Card Benefits

No Annual Fee or Security Deposit

You do not need to pay an annual credit card fee (rates & fees) or come up with a security deposit to start the credit improvement process. One of the big benefits of the Capital One Platinum card is that it does not charge an annual fee and, unlike secured credit cards, there is no upfront deposit needed to be approved.

Convenient and Simple Online Account Access

Capital One provides an easy-to-use mobile app for managing your Capital One Platinum card. You can set up handy payment reminders, keep track of your transactions, and monitor your account at any time. You can also manage your account online on your laptop or PC.

Free Credit Monitoring

Keep an eye on how you’re progressing towards your goal of good credit with the CreditWise tool. Capital One provides unlimited access to keep track of your credit score and tools to help you manage your progress.

Pick Your Own Due Date

Selecting a payment due date that coincides with your paycheck may help you keep your account current and make building an on-time payment history easier.

Earn a Higher Credit Limit

Be automatically considered for a higher credit line in as little as 6 months.

No Penalty APR for Late Payments

Many credit cards impose a severe elevated APR when payments are made after the due date. The Capital One Platinum card does not (rates & fees) . You would just pay the normal APR, which is shown in the tables below.

Alternative Cards To the Capital One Platinum Card

Secured Credit Cards

Secured credit cards are easy to qualify for and can help you jump-start your credit building journey. For more information, see our list of secured credit card options for those with bad or no credit.

Self

A Credit Builder account with the company, Self (formerly Self Lender), can create a credit history where none existed. The account is basically a CD that is held with the company, you make payments until it is paid off, and in the meantime, Self reports your activity to all 3 credit bureaus. Read all about this credit-building alternative in this complete guide to Self.


We’ve compared the Capital One Platinum card to some other popular cards:

Frequently Asked Questions

Is the Platinum card from Capital One worth it?

The Capital One Platinum card is worth it if you do not have a credit history or have at least fair credit and want to build or rebuild your credit. Since the card does not charge an annual fee (rates & fees), it can be a cost-effective way to start the process.

If you cannot qualify for a rewards-earning credit card, the Capital One Platinum card could be a plausible alternative to make progress towards a better credit score without paying an annual fee.

Is the Capital One Platinum card a secured card?

The Capital One Platinum card is not a secured credit card and therefore does not require the upfront security deposit that is required with a secured card in order to be approved.

The Capital One Platinum card is a normal unsecured credit card with an assigned credit limit, credit management tools, and benefits you can use. The card also reports your activity to all 3 credit bureaus on a monthly basis making it an appropriate option for building or rebuilding credit.

Does the Capital One Platinum card earn miles or points?

The Capital One Platinum card was designed to help build or rebuild credit. It does not earn miles or points. It also does not require an excellent credit score to be approved, like most reward-earning credit cards. Additionally, it does not charge an annual fee (rates & fees).

Does the Capital One Platinum card have an annual fee?

No, the Capital One Platinum card does not charge cardholders an annual fee (rates & fees).

Alex Miller's image

About Alex Miller

Founder and CEO of Upgraded Points, Alex is a leader in the industry and has earned and redeemed millions of points and miles. He frequently discusses the award travel industry with CNBC, Fox Business, The New York Times, and more.

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