The Capital One Platinum creditcard card is one the best for building and maintaining good credit. It's a solid option because there is no annual fee and there is no foreign transaction fee.
The Capital One Platinum credit card charges an interest rate higher than the average. This makes the card unsuitable for people who are on a budget and need to pay down their debt. Capital One Secured Mastercard may be a better alternative. It is free of annual fees and comes with a refundable security bond.
Although the Capital One Platinum card does not offer rewards, it does have a few features that can benefit your credit. You will have access to the Capital One CreditWise collection of credit building tools. You will also get educational content and a credit score for free.
The bill can be paid online or in person at the local branch. Payments will be reported to the major credit bureaus, TransUnion, Equifax, and Experian. Paying on time and maintaining your balance will help you improve your credit score. You can increase your credit limit and decrease your credit utilization by continuing to use the Capital One Platinum credit cards.
You can also enjoy cool travel perks with the Capital One Platinum Card. No foreign transaction fees apply so you can travel abroad with your card.
Capital One Platinum Card offers these benefits and an automatic credit limit increase after six month. After you qualify, you'll receive a new credit limit based on your credit history.
Fill out an application to apply for a Capital One Platinum Card. Your credit score as well as your income determine your eligibility. Card applicants typically have to have a FICO score at least 580. Keep in mind, however, that not all companies follow the same guidelines. You may not be approved if you have a history delinquent.
Capital One Platinum cards also have a lower credit utilization than the average. You can improve your credit score by lowering credit utilization. The Capital One Platinum can help you establish credit history even if your credit score isn't high enough to qualify for a card.
The Capital One Platinum Credit Card, despite its high interest rates, is a good option for people with average to fair credit. It doesn't require a deposit up front, making it a great choice for people who are just beginning to build credit.
Capital One Spark Miles Select is one of the other cards that you should consider. These cards give you the opportunity to redeem reward points for Amazon purchases and earn cash back.
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.