If you are looking for a credit card for rebuilding your credit, applying for a credit card is a big decision. The next step is searching for a card that has to want you to want and the flexibility to make daily life a little less worrying. In this case, the capital one platinum credit card could come in. The capital one platinum credit card issued by capital one bank can make an effective addition to your wallet if your aim is to raise or build your credit limit. A card like capital one platinum card good is a good choice to build your financial future when used responsibly.
Capital one platinum card has a lot of features that can help make the day to day a little more manageable. Meanwhile, the capital one platinum credit card is aimed at targeting those with fair to better credit. It is really a fine choice for people with average or fair credit. Although, qualification is not decided by your credit score alone. Your debts, income, and other factors are considered as well. Fair credit is also known as average credit is commonly defined as a FICO score of 630 or higher.
How the Credit Card Works
For new cardholders, a capital one platinum credit card comes with an annual fee of $0 which means it does not charge an annual fee and there is no balance transfer fee as well. On the contrary, many other credit cards charge 3% to 5% to transfer a balance from another card. Someone with a Fair or average credit standing to qualify for this credit card. Capital one platinum card start will a low credit limit possibly as low as $300. Nevertheless, it may increase in as little as 6 months with responsible credit usage and paying on time. Also, the capital one platinum can help to increase your credit limit as long as you pay on time. In less than six months, you can automatically be considered for a higher credit line.
Besides, it has a cash APR variable of 26.99% and does not charge on foreign transactions. Interest on cash advance fee is 3% or $10 whichever is greater. A late payment could cost up to $40 and there is no penalty APR. It does not incur an APR in case you miss a payment. On the other hand, the capital one platinum card does not offer a reward program. This is one of the major drawbacks of this credit card since a lot of cards are aimed at consumers with fair credit and offer cash back opportunities. So, it’s disappointing.
Benefits of Capital One Platinum Card
The capital one platinum credit card offers great and amazing benefits to cardholders. You can explore these benefits below;
- No fees for foreign transactions.
- No fees charged annually.
- You can be approved if you have fair credit.
- When you pay on time, your credit line increases.
- Capital one credit card has an app that allows you to easily access your account information.
- It offers $0 fraud liability protection and you can never be responsible for any unauthorized charges on your account.
- You can add an authorized user to your account.
- With this card, you can transfer your higher-rate balances.
- You can set up personalized text or email reminders to help you stay on top of your account.
- There is a 24/7 customer service.
- You can also set an autopay for your account.
The capital one card is a card that helps you rebuild your credit line as well as staying on top of your account. However, it has a high APR so it the best to pay your monthly bills to avoid interest charges.
Capital One Platinum Credit Card Application
Applying for the capital one platinum credit card helps you to get the best out of the card. To apply, you must be up to 18 years of age and have a satisfactory monthly income to be eligible for a line of credit. Then, capital one will check your employment history and credit report and may get back to you if they need additional information. Hence, you can follow the steps below to apply;
- Visit the capital one platinum card website.
- On the homepage, click on the APPLY NOW button.
- On the application page, enter your personal details such as your middle initial, date of birth, social security number, first name, last name
- Tick on the Yes or No button if you are a US citizen or not.
- Enter your contact information such as your residential address, state, city, zip code, suite/apt, email address, primary phone number
- Next is your financial information which includes your employment status, total annual income, monthly rent/mortgage.
- Choose your bank account.
- Review and accept the terms and conditions of capital one electronic communication disclosure.
- Lastly, click on the Continue button.
If you are not eligible, capital one may consider you for other credit card.
Capital One Platinum Card Login
To login to your capital one account follow the steps below;
- Launch a web browser and visit the capital one website.
- At the top of the homepage, click on the sign in button.
- Then enter your username and password.
- Click on the sign in button to access your account.
With these steps, you can easily access your account without any stress.