Capital One Platinum Card review 2024

Table Of Content

• Capital One Platinum Secured Credit Card
• Learn About Credit Cards
• Find out if you're pre-approved with no risk to your credit score.
• How the Capital One Platinum card works
• How to make the most of the Capital One Platinum card
• reasons why the Citi Diamond Preferred is great for paying down debt
• What is the APR on the Capital One Platinum Card?

Some issuers may contact cardholders who are eligible for an upgrade. The Capital One Platinum card allows you to work toward a higher credit limit with six months of on-time payments and responsible use. Other benefits include 24/7 customer service, emergency card replacement, and Eno virtual card numbers. The QuicksilverOne credit card has a variable annual percentage rate (APR) of 30.74%. That’s quite high, but you can avoid excessive interest charges by paying off your balance each month.

Capital One Platinum Secured Credit Card

When you use the card for cash advances, Capital One charges the greater of $5 or 5% of the advance. There are no foreign transaction fees, which can save you a significant amount of money if you travel abroad frequently. It’s not always easy to find the best rewards card when you have fair credit, but the Capital One QuicksilverOne Cash Rewards Credit Card delivers. With its simple rewards program, automatic limit increases and included credit management tools, this Capital One card can help you earn cash back while you build credit. Upgrading or downgrading your credit card can be a great way to make sure you are still earning rewards that match your lifestyle, without suffering a hit to your credit score. Plus, Capital One’s process is very straightforward and easy to take advantage of.

Learn About Credit Cards

For someone with plenty of income and a long, excellent credit history, it may be much easier to receive approval for nearly any card. One convenient way to check to see if you’re likely to receive approval for a card before you apply is by completing a preapproval questionnaire on Capital One’s website. While preapproval does not guarantee approval, it can provide a good idea of your ability to receive approval for a card or cards without damaging your credit with hard inquiries. Low APR and balance transfer cards allow you to consolidate debt in order to help pay down what you owe.

Find out if you're pre-approved with no risk to your credit score.

Once the bank processes your request, you’ll receive your new card in the mail. The card doesn’t charge a yearly fee to carry it, which isn't always the case with secured credit cards. Not having to pay an annual fee can make it easier to focus on making payments on time and building up your credit. Credit limits often vary more by individual than by credit card and Capital One does not publish credit limits for its unsecured cards. Like most issuers, your individual credit limit will be determined on personal factors including your credit history, existing debt, income and other criteria on your financial profile. Generally, cards that require excellent credit as well as small business cards tend to offer higher limits than those aimed at applicants with average credit.

That’s because you may not have to pay much—or any—interest, depending on the promotional period and rate. No, there aren’t any Capital One credit card designs to pick from at the moment. However, the issuer used to have this feature in the past, and they might include it again in the future. So, make sure to call the number you see on the back of your card for more information.

Our editorial team does not receive direct compensation from our advertisers. The card’s $200 minimum deposit is on par with what most secured cards require. But pulling together the cash for an upfront deposit that high may prove difficult for some. There are secured cards that offer more flexible deposit options. Sometimes I think it’s interesting to break down credit card strategies by card issuer, so in this post I wanted to share my current Capital One card strategy. In separate posts I wrote about my Amex card strategy, Chase card strategy, and Citi card strategy.

How to make the most of the Capital One Platinum card

Capital One's exclusive business travel card gets a sleek new name and look - CNBC

Capital One's exclusive business travel card gets a sleek new name and look.

Posted: Thu, 02 Feb 2023 20:42:49 GMT [source]

Yes, in fact Capital One Lounges allow non cardholders to access its lounges at a cost of $65 per visit, per person, and children under 2 years of age can enter free of charge with an accompanying paying adult. Capital One Lounges are a refreshed, modern take on the old school, business traveler centric airport lounges. With more open spaces, an elevated selection of food and beverage options and even grab-and-go menu items as well as barista coffee, they set themselves apart from their competitors. Enrollment may be required for select American Express benefits and offers. Other Capital One Quicksilver benefits also provide value, even if they aren’t used frequently. For some cardholders, these benefits can be worth as much as, if not more than, the rewards earned on the card.

reasons why the Citi Diamond Preferred is great for paying down debt

The Capital One Platinum card offers very few incentives to keep it once you improve your credit — including a lack of rewards. At LA Times Compare, our mission is to help our readers reach their financial goals by making smarter choices. As such, we follow stringent editorial guidelines to ensure we offer accurate, fact-checked and unbiased information that aligns with the needs of the Los Angeles Times audience.Learn how we are compensated by our partners. Additionally, there have been reports that you can only have two Capital One cards at a time, excluding the secured card and co-branded cards. While it’s unclear whether this is an official issuer policy or just a rule of thumb, upgrading your card can help you get the product that you want while keeping the number of cards under the limit.

But if you've got fair credit and you need a card you can use to build credit without paying an annual fee, it's definitely worth a look. It pays a lower cash-back rate on dining and entertainment than the regular Savor card, but the rewards are nevertheless quite good (see rates and fees). The sign-up bonus is smaller than on the annual-fee version, too, but it's still solid (see rates and fees). If a night out is more than a once-in-a-while proposition for you, consider the Capital One Savor Cash Rewards Credit Card.

The Capital One Quicksilver Secured Cash Rewards Credit Card offers an impressive combination of features for those with poor credit. Oh, and 5% back on hotels and rental cars booked through Capital One Travel, plus 1.5% back on all other purchases, which equals what you'd find on many unsecured cards. Among cards aimed at students, the $0-annual-fee Capital One SavorOne Student Cash Rewards Credit Card is near the head of the class. The Capital One Venture Rewards Credit Card is probably the best-known general-purpose travel credit card, thanks to its ubiquitous advertising. You earn 5 miles per dollar on hotels and car rentals booked through Capital One Travel and 2 miles per dollar on all other purchases. Miles can be redeemed at a value of 1 cent apiece for any travel purchase, without the blackout dates and other restrictions of branded hotel and airline cards.

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. Imogen has contributed bylined and ghostwritten content for thought-leading publications in business, finance and technology. Topics covered include business loans, personal loans, startup funding and real estate investments. Imogen Sharma is a freelance writer with an extensive portfolio, covering topics such as finance, business management, investing, and startups. Before becoming a full-time writer, Imogen managed high-volume fine dining restaurants in London with a knack for pricing and P&L management that contributed to sustained growth.

Capital One has been known to offer upgrade incentives on occasion. The Capital One SavorOne Cash Rewards Credit Card’s unlimited top-earning category, food and dining, is the card’s hallmark feature. Luckily, Capital One offers an online preapproval tool — with no harm to your credit — to let you find out which cards you are approved for. Therefore, with both of these cards in your wallet, you can maximize your reward-earning potential. If you’re in good financial standing and are able to pay off your credit card bill each month, you can benefit from having multiple rewards cards.