At NerdWallet, we try that can assist you make monetary selections with confidence. To do that, many or all the merchandise featured listed here are from our companions. Nevertheless, this doesn’t affect our evaluations. Our opinions are our personal.
The Capital One® Platinum Credit score Card isn’t a elaborate bank card by any means. It doesn’t supply rewards or perks or perhaps a low rate of interest. What makes it such a well-liked card is who can get it. It’s particularly marketed to folks with common credit score.
» MORE: NerdWallet’s greatest bank cards for truthful credit score
Qualify with common credit score
There simply aren’t a whole lot of good bank card choices for folks with credit score scores roughly between 630 and 690 — generally referred as “truthful” or “common” credit score. There are alternatives galore for these with good to glorious credit score, and other people with horrible credit can flip to secured bank cards. These in between the extremes can get caught. The Capital One® Platinum Credit score Card is likely one of the few playing cards from a serious issuer that’s obtainable to folks with less-than-good credit score and doesn’t require a safety deposit. In brief, the signature Capital One® Platinum Credit score Card profit is that it’s obtainable to so many individuals.
» MORE: Get your free credit score rating with NerdWallet
No annual charge
As a common rule, a bank card for somebody with good to glorious credit score received’t cost an annual charge until it provides excellent rewards or perks that make up for the price. However folks with poor or truthful credit score generally face annual charges of $25 or extra only for a fundamental card with no rewards. The Capital One® Platinum Credit score Card has an annual charge of $zero. Not solely does that prevent cash now, however a $zero charge means you’ll be able to hold the cardboard account open without charge even after you qualify for different, higher merchandise — and that may profit your credit score rating.
Path to the next credit score restrict
Make your first 5 month-to-month funds on time and Capital One might offer you entry to the next credit score restrict. This can add flexibility to your funds. Extra essential, it may possibly profit your credit score by lowering your credit score utilization, or the proportion of your obtainable credit score that you simply’re utilizing, a serious part in your credit score rating. This automated account evaluation is particularly useful when you’re working to construct your credit score as a result of it means you don’t must request a credit score line improve your self. Buyer-initiated requests can result in a “exhausting” credit score verify that hurts your rating.
» MORE: What’s the distinction between a comfortable inquiry and a tough inquiry on my credit score report?
No overseas transaction charges
Most U.S. bank cards impose a surcharge on purchases made exterior the nation. The everyday charge is about three%. Capital One’s playing cards don’t cost overseas transaction charges, making this card a nice touring companion.
» MORE: NerdWallet’s greatest no overseas transaction charge bank cards
Select your due date
You may choose the date of the month when your cost will probably be due, a profit to those that must fastidiously handle their money stream.
Wonderful improve choices
One disadvantage with many playing cards designed for common credit score is that they arrive from specialty issuers that focus solely on the lower-score phase of the market. You need to use their playing cards to construct credit score, however as soon as your rating has improved, you need to look elsewhere for higher choices. Capital One, nevertheless, has an array of glorious rewards playing cards that you could possibly request a product change to. Simply know that approval for an improve isn’t assured.
» MORE: NerdWallet’s greatest Capital One bank cards