The Capital One Platinum credit card is one of the best cards available to build and maintain a good credit score. The card is a solid choice because it has no annual fees and $0 foreign transaction fees.
However, the Capital One Platinum card comes with an interest rate that is higher than average. This makes the card unsuitable for people who are on a budget and need to pay down their debt. Capital One Secured Mastercard might be a better option. It has a zero annual cost and a refundable security guarantee.
While the Capital One Platinum Card does not offer rewards, there are a few features that will benefit your credit. The Capital One CreditWise suite credit building tools will be available to you. You'll also have access to educational content and a free credit score.
The bill can be paid online or in person at the local branch. TransUnion and Equifax will report payments to Experian, Experian, and TransUnion. You can improve your credit score by maintaining your balance and paying on time. Continue to use Capital One Platinum creditcard and you'll be able to increase your credit line while lowering your credit utilization.
The Capital One Platinum card also offers cool travel perks. No foreign transaction fees apply so you can travel abroad with your card.
In addition to these features, the Capital One Platinum Card has an automatic credit line increase after six months. You will be granted a credit limit that is based on your credit score once you have been approved.
Fill out an application to apply for a Capital One Platinum Card. 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. It is possible to be denied approval if your past delinquencies are a problem.
Capital One Platinum card also has a lower than average credit utilization ratio. Lowering your credit utilization rate is a great way to raise your credit score. Even if you do not qualify for a Capital One Platinum card, you can still build a credit record.
Despite its high interest rate, the Capital One Platinum Credit Card is a worthwhile option for those with average or fair credit. This card is a good option for those just beginning to build their credit.
There are other cards to consider, including the Capital One Spark Miles Select for Business. These cards give you the opportunity to redeem reward points for Amazon purchases and earn cash back.
Low annual fees, security alerts, fraud liability, and low annual fees are just a few of the other features you should look for when applying to Capital One. The Capital One Platinum card is not for everyone. However, anyone needing a little assistance rebuilding their credit may find it useful.