Capital One Platinum Card Reviews for 2024 | WalletHubReviews, rates, fees, and customer service info for The Capital One Platinum Credit Card. Compare to other cards and apply online in secondsJohn KiernanWalletHubNo annual feeAvailable to people with limited creditFree credit-score accessNo foreign transaction feeNo rewardsHigh regular APRNo reduced introductory rates
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
The Capital One Platinum Credit Card is a good credit card for people with average credit or who are new to credit. It is worth applying for the Capital One Platinum Card because of its $0 annual fee and the fact that it reports account information to the 3 major credit bureaus each month. That’s all you need to build credit inexpensively. Just make sure to pay the monthly bills on time and keep your balance well below Capital One Platinum’s credit limit.
WalletHub Rating Breakdown
User Reviews
3.6/5
5,479 reviewsRead and write reviews
Editor’s Review
5.0/5
John Kiernan, Credit Card EditorRead full review
Market Comparison
Market Comparison
3.4
The Market Comparison is a key component of the WalletHub Rating, as it measures how appealing the terms of a card are compared to a pool of over 1,500 credit card offers monitored by WalletHub. To ensure cards are evaluated for their most relevant purpose, we score each card across various cardholder needs and select the rating for the need with the highest score, which is “Improve Credit by Paying in Full Each Month” for this card.
Fees
5.0
Rewards
0.0
Cost
3.3
Other Features
4.5
3.4/5
Compared against 1,500+ credit cards
KEY TERMS
No Annual Fee
So you can build credit at no cost.
Accepted Credit Scores
Accepted Credit Scores
Fair Credit, Limited History, No Credit
Capital One Platinum Annual Fee
$0
Capital One Platinum APR on Purchases
30.74% (V)
Capital One Platinum Balance Transfer
APR: 30.74% (V)
Balance Transfer Fee:$0 at the Transfer APR, 4% of each transferred balance at a promo APR that Capital One may offer
Capital One Platinum's Additional 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
The Capital One Platinum Credit Card is a good credit card for people with average credit or who are new to credit. It is worth applying for the Capital One Platinum Card because of its $0 annual fee and the fact that it reports account information to the 3 major credit bureaus each month. That’s all you need to build credit inexpensively. Just make sure to pay the monthly bills on time and keep your balance well below Capital One Platinum’s credit limit.
You should also be sure to pay your balance in full each billing period if you decide to apply for Capital One Platinum. A low APR is not among Platinum’s perks. Capital One Platinum does not offer rewards, either, but there aren’t many rewards cards for people with limited credit who aren’t in college.
Capital One Platinum Review Highlights
No frills, no major fees
Some people might be turned off by the Capital One Platinum Card’s lack of both rewards and 0% introductory APRs. But at this point in your credit career, your top priority should be building credit as inexpensively as possible. And Capital One Platinum helps you do that by not charging annual, monthly or one-time fees. You won’t have to worry about foreign-transaction fees, either.
Designed for credit newcomers
The Capital One Platinum Card does not have a specific minimum credit score requirement, but the card was built for building credit, so applicants with limited credit history or a fair credit score can get approved. The Capital One Platinum Card is not available to applicants with bad credit.
Applicants who get approved for the Capital One Platinum Card can efficiently build a good credit score, too. As long as you pay your bill on time every month and avoid using your full credit line, Capital One will report positive account information to the major credit bureaus, helping you create a track record of credit responsibility. You can monitor your progress with WalletHub’s free daily credit score updates.
Good customer service
Capital One’s website and mobile app also enable you to solve a lot of customer service problems without calling. That includes activating your Capital One Platinum Card if you decide to apply and get approved, for example. To activate a Capital One Platinum Card, go to Capital One’s online card-activation page, sign in or create an account, and enter the 16-digit card number along with the card’s 3-digit security code.
Bad for carrying a balance
The Capital One Platinum Credit Card is not the best choice for financing, as any balance carried from month to month will accrue interest at an annual rate that’s higher than the 26.59% rate charged by the average credit card for fair credit, according to WalletHub’s most recent Credit Card Landscape Report.
Potential for a higher limit after 6 months
Cardholders are automatically considered for a higher spending limit after the first 6 months, based on initial performance. That could help improve your credit utilization, thus benefitting your credit score, but a higher limit is not guaranteed.
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Capital One Platinum Video Review
Compare The Capital One Platinum vs. Popular Alternatives
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
Editor’s Rating
5.0
User Reviews
3.6
Market Comparison
3.4
fees: 5.0
rewards: 0.0
cost: 3.3
Other Features: 4.5
3.9WalletHub Rating
WalletHub Rating
3.9
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Finance New Purchases." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
Editor’s Rating
3.9
User Reviews
3.8
Market Comparison
3.9
fees: 5.0
rewards: 3.3
cost: 3.8
APR: 3.9
5.0WalletHub Rating
WalletHub Rating
5.0
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
Editor’s Rating
5.0
Market Comparison
5.0
fees: 5.0
rewards: 5.0
cost: 5.0
Other Features: 5.0
(5,479)
(1,651)
(7)
annual fee$0
annual fee$0
annual fee$0
rewards rateNone
rewards rate 1 - 5% Cash Back
rewards rate 1.5% Cash Back
bonus offerNone
bonus offerNone
bonus offerNone
Purchase Intro APRNot Offered
Purchase Intro APR0% for 15 months
Purchase Intro APRNot Offered
transfer intro aprNot Offered
transfer intro apr0% for 15 months|Transfer Fee:3% intro balance, up to 5% fee on future balance transfers (see terms)*
Can't find what you are looking for? Submit your question about Capital One Platinum Credit Card to our community. Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this card.
The Capital One Platinum credit limit can be as high as $3,000 according to online cardholder reports, but it will depend entirely on the specifics of each applicant's credit and their overall financial situation. Most cardholders get credit limits of at least $300, though.
The Capital One Platinum card is designed for people with limited credit (less than 3 years of credit history). If your credit score and debt-to-income ratio are significantly better than the issuer's minimum requirements, your chances of getting a higher credit limit will improve.
Ultimately, if you are unhappy with your credit limit, the issuer periodically reviews accounts for automatic credit limit increases after 6 months of on-time payments. If you'd rather not rely on an automatic increase, you can request one yourself instead.
Capital One Platinum (see Rates & Fees) means the Capital One Platinum Credit Card (see Rates & Fees), which is a starter credit card geared toward people with limited or fair credit. Capital One Platinum is one of the best credit cards for beginners because it has a $0 annual fee, giving first-timers the chance to build credit inexpensively.
Key Things to Know About Capital One Platinum (see Rates & Fees)
You can get approved even with limited credit.
The card helps people build credit, as it reports account information to...
The credit score that you need for the Capital One Platinum Credit Card (see Rates & Fees) is at least 640, which is usually considered fair credit. The Capital One Platinum Credit Card (see Rates & Fees) is also available to people with limited credit history, which means you may be able to get approved even without a credit score.
Other Capital One Platinum (see Rates & Fees) Approval Requirements
You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Capital One Platinum (see Rates & Fees) Card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status and housing status.
If you excel in other areas, you might be able to get approved with a slightly lower credit score in some cases. But it's best to wait to apply until you meet the Capital One Platinum (see Rates & Fees) credit score requirement. You can check your credit score for free, right here on WalletHub.
The Capital One Platinum credit limit is $300 or more, depending on your creditworthiness. So, you're guaranteed at least a $300 spending limit if you're approved for the card, and if your credit score and income exceed what Capital One is looking for, you could definitely start off with a higher limit.
Keep in mind that you aren't stuck with your starting Capital One Platinum credit limit forever. Capital One may increase your limit if you make your...
You can increase your Capital One Platinum (see Rates & Fees) card credit limit by making a request online, through the Capital One mobile app, or by calling customer service at the number you see on the back of your card. Alternatively, you may also get a Capital One Platinum (see Rates & Fees) credit limit increase without asking, if your account is in good standing.
To raise your chances of being approved for a higher credit limit, pay your bill on time for at least six straight months, reduce your outstanding debt,...
Capital One Platinum is not hard to get because it is meant for beginners with no credit history. You'll have a good chance of being approved if you have a steady income, an SSN or taxpayer ID, and either no credit score or a score of 640+, among others.
Keep in mind that even though it's not hard to get the Capital One Platinum Credit Card (see Rates & Fees), you're still not guaranteed to be approved.
The best Capital One Platinum (see Rates & Fees) card benefits are account alerts and $0 fraud liability. These perks are certainly good to have, though it's important to note that they are also relatively common credit card benefit.
Capital One Platinum (see Rates & Fees) Credit Card Benefits
Account alerts
$0 fraud liability
Emergency card replacement
While these benefits aren't bad, the Capital One Platinum (see Rates & Fees) credit card simply doesn't have as many benefits as a lot of the other credit cards on the...
The main difference between the Capital One Platinum (see Rates & Fees) and the Capital One Platinum Secured (see Rates & Fees) cards is their need for a security deposit. Capital One Platinum is an unsecured credit card, so you won't have to provide collateral. The Capital One Platinum Secured (see Rates & Fees) card, on the other hand, requires you to fund a security deposit in exchange for your credit line. It's important to mention that Capital One Platinum Secured (see Rates & Fees) is special in the sense that it's partially secured, so your credit limit can be higher that your security...
The Capital One Platinum (see Rates & Fees) gives you a 25-day grace period to avoid paying interest on your purchases. The grace period runs from the end of the billing period until the card's payment due date. You won't owe any interest as long as you pay your balance in full during that timeframe. Should you decide...
You can cancel your Capital One Platinum application by calling customer service at (800) 227-4825. Note that you may have very little time to cancel an online application before it is processed. If you applied by mail, you may have up to 10 business days to call customer service and cancel the application.
If you're unable to cancel your Capital One Platinum credit card application, you can always close the account as soon as you receive the card. However, your credit...
Share your insights and review for the Capital One Platinum Credit Card
5
30%
4
29%
3
23%
2
11%
1
6%
3.6
5,479 reviews
5,479 reviews
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Michael Meehan @luft332
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1 Star Rating
I purchased something on eBay and it never showed up. I complained to the seller, and all they did was show me the UPS delivery confirmation that it had been delivered. Okay, maybe it was delivered but not to me! The UPS driver did not take a picture at the time of delivery, so there was nothing to show where they left it.
I lost the eBay case because the seller produced the delivery confirmation, and I could not prove I didn't receive it.
I filed a claim with UPS, and they could not locate the package. They paid the claim to the seller, but the seller would not reimburse me! So, I asked Capital One for help since I had used my credit card. Even though I submitted the paperwork from UPS showing the package had been lost and paid for, they decided in the seller's favor. I called and spoke to a rep whom I could barely understand. She was of no help. I paid off the balance and closed the account. There's no way I'm going to deal with a company that doesn't help and support their account holders!
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1
0
Aiye Daade @deenkaka72
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1 Star Rating
Capital One is absolutely fraudulent. Don't dare apply for their card; they are dubious and engage in fraudulent activities. They charge ridiculous hidden fees.
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0
0
Carolyn @carolynb_90
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4 Star Rating
Verified Customer
Hi, my name is Carolyn from California. I started my credit journey by rebuilding my credit, which I began in November 2018 with a Capital One Platinum Secured credit card with a $200.00 deposit. As I applied for the card, I read that once you have made payments on time and without missed payments for, I believe, 6 months to a year, Capital One will graduate you to an unsecured card with a credit increase and return your secured deposit. At the time, I felt that it was really great for Capital One to do that for their customers. Keep in mind, I had my Capital One card for 6 years with an excellent payment history, yet Capital One has never graduated me to an unsecured card, nor have they returned my secured deposit! I have called customer service twice regarding this issue, and the two customer service representatives I spoke to said it could happen at any time. They said they have no control over converting my card into an unsecured card and returning my secured deposit. The system will change your status to an unsecured status; then they will send you your secured deposit back, and the system will increase your limit. Can anyone understand that?
Then, a year ago, I got approved for a Capital One Quicksilver card, with a $300.00 limit. Three months ago, I was upgraded to a Capital One Quicksilver One with no credit increase, still with a $300.00 limit. I continue to make my payments on time because I have reestablished my credit, and Capital One opened the door for me when no one else would. I am thankful. Now I have three more credit cards through Credit One, which are the Credit One Platinum Visa, Credit One American Express, and Credit One Wander. I applied for the Credit One Platinum Visa. The Credit One American Express and the Capital One Wander card I was pre-approved for, and was approved for both cards. I just wanted to share my credit journey and my experience with Capital One.
Don't get me wrong, I am grateful to Capital One because they opened the door for me to start my journey, and I will be forever grateful to them. The customer service is very professional and nice when I have called regarding this issue. Please make it make sense why I have to wait on a computer system to graduate me to an unsecured card, as I've mentioned before. I have an excellent payment history with Capital One. No hard feelings with Capital One; I just wanted to share my credit journey and review with them.
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0
0
zoeyclo2 @zoeyclo2
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1 Star Rating
Verified Customer
I received my card a month ago. I was unable to access my account online and on the app. I called, and the agent tried to help, but had to escalate the issue. I was told I would be called the next day, but I never received a call. I called, paid off my card, and closed it. The agent never attempted to dissuade me. No loss here. I will never get a Capital One card again.
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1
0
Fuad Maharramov @fuadmaharramov
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1 Star Rating
I ordered the card and it arrived today. I had to call to activate the card, so I called. I was told that I needed to send photos of documents, so I sent them. Then they said that we had to wait 10 business days. And it's called online activation?
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Brandon Jensen @jensen_brandonj
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1 Star Rating
They closed my account due to a returned payment and I was unable to reopen it. I made all payments on time and was paying a large amount well before the due date (I didn't even have a minimum payment due). Unfortunately, the debit account I use, through a third party with my employer, did not process the payment, and I've since learned that it cannot be used to make credit card payments.
I called and talked to two different people but was unable to reopen the account. A simple mistake such as this, when the account is in good standing, is unacceptable. Update your terms, issue a warning, or do not allow payments to be posted if they are not an accepted form of payment. I will not be applying for another Capital One card again.
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2
0
Alexia Mari @alexiamari
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1 Star Rating
They closed my account because I had a returned payment, but I didn't have any payment due. There was no due date; for example, my minimum payment is $25, but I usually pay $50 I was paying more just because I wanted to pay it all off with small payments so by the next month it’s 0. So my voluntary payment was returned because the money was in the wrong account. However, I don't understand why that matters if it wasn't even due. I was doing it because I wanted to, not because I had to. I could have just paid $25 and not paid off the card. I have consistently paid more than the minimum every month and never had a late payment. I'm just paying off more voluntarily. I’m repeating this because it’s ludicrous
I will blame myself as well because I've read reviews from others saying they will just close your account . They do this constantly to people ! Fortunately, I have another card that has a $2000 credit limit after I made payments over six months. They appreciate me as a customer but capital one it’s disappointing that you call them and there’s nothing they can do because it’s computerized no loyalty for their customers whatsoever. Even though they referred this card because of my “loyalty” . However, it's unfair that they closed my account, which now negatively affects the credit score I worked so hard to build. Beware!
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Brandon Jensen @jensen_brandonj
Same! Ridiculous that I was paying off a large sum way before the due date and didn't know the account I used wouldn't process it. Unable to reopen.
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0
0
James @hogtech
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5 Star Rating
Verified Customer
Good credit card company for trying to rebuild credit, got an excellent credit limit. Their app is easy to use and very handy to make payments and see balances.
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John @johnc_1110
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5 Star Rating
Verified Customer
Thanks for help me to rebuilt my credit. I was approved since first moment. Don’t hesitate to apply. My credit score went up before 6 months
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0
Kron R Abram @1kronabram
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4 Star Rating
Verified Customer
It helped me build my credit! That's all that really matters to me. But also worked well with me if I "missed" a payment , and getting me refunded
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Review Capital One Platinum Credit Card
Expert Thoughts on Capital One Platinum
To help people who are interested in the Capital One Platinum Card make an educated decision, WalletHub posed the following questions to a panel of experts. You can find the experts listed below. Simply click “READ MORE” to check out an expert’s answers and advice.
Which type of credit card is better for beginners: one with no annual fee and no rewards, or one with rewards and an annual fee?
Why don’t more credit card companies offer cards for people with limited or no credit history?
When is the best time to apply for a credit card like Capital One Platinum?
J. Carlos Martinez Faculty of Economics, Dallas College, El Centro Campus Read More
Tingting Jia Ph.D., Visiting Assistant Professor of Finance, Bucknell University Read More
Michael Simkovic Leon Benwell Professor of Law and Accounting, USC Gould School of Law Read More
Nilton Porto MBA/Ph.D. – Associate Professor, Consumer Finance Human Development & Family Science, University of Rhode Island Read More
Lauren Stansell CFP®, Partner • Senior Financial Planner Read More
We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. When you click "Apply Now" you will be directed to the offering institution's website. In addition, keep in mind that actual rates and other information may vary for a number of reasons including the applicant's' creditworthiness and differences between an individual's situation and the criteria/assumptions used to generate the information displayed. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.
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2024 WalletHub Awards
Capital One Platinum Credit Card is an Editor's Pick for:
