The best Capital One first time credit card is the Capital One Platinum Credit Card because it has a $0 annual fee and is available to people with no credit history. This card doesn’t require a security deposit to open an account, and it comes with the opportunity for a higher credit limit in as little as 6 months.
For students, there’s the Journey Student Rewards from Capital One, which has a $0 annual fee and gives at least 1% cash back on all purchases. Your earning rate increases to 1.25% for every month that you pay your bill on time.
Another Capital One first time credit card option is the Capital One Platinum Secured Credit Card. It’s also designed to help people establish credit. It reports to the credit bureaus just like an unsecured credit card, except that you’ll have to pay a refundable security deposit to open the account. You’re guaranteed a starting credit limit of $200 with an initial deposit as low as $49, depending on the specifics of your credit history.
Finally, it’s important to note that when you’re a first-time credit card user, you normally have no credit history. A Capital One first time credit card is ideal for helping you establish that credit. In time, you’ll qualify for some of the best Capital One credit cards with lower interest rates, higher credit limits, and better rewards and benefits.
If you want a card with rewards and don’t mind paying an annual fee, the Capital One QuicksilverOne Cash Rewards Credit Card offers 1.5% cash back on all purchases. The annual fee is $39. If you’re a student with no credit, the Journey Student Rewards from Capital One comes with a $0 annual fee and 1 - 1.25% cash back on purchases.
All three of these cards will allow you to establish a credit history and build a good credit score over time. But you have to pay the bills on time and keep your spending in check. Another good reason to do that is if you pay your bill on time for the first six months, you’ll be considered for a credit limit increase.
The main Capital One credit card requirements are that an applicant must be at least 18 years old with a valid Social Security number or Individual Taxpayer Identification number. Applicants must also meet specific residency, income, and credit requirements. Some requirements may vary depending on the card.
Proof of enough income to make the monthly minimum card payment
bad to good credit or better
Social Security number or ITIN
Checking or savings account
If you apply for a Capital One card, it’s important that you enter all required information completely and accurately. Knowingly reporting false or misleading information on a credit card application is a federal crime.
Your credit score isn’t the only thing that will affect your ability to get approved for a Capital One credit card. Your income and debt will play a big role, too. But figuring out which Capital One credit card to apply for doesn’t have to be a guessing game. Capital One lets you check which of its cards you pre-qualify for, without hurting your credit score. Pre-qualifying for a card means your odds of approval are very high, should you decide to submit an official application.
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