What is the Capital One Platinum APR?

This question is about the Capital One® Platinum Credit Card

Alex Johnson, Member

@nobarter03/22/19

Permalink Report

The Capital One Platinum APR is 26.99% (V). This is the rate that determines the amount of interest charged to your Platinum card account when you carry a balance from billing period to billing period. You can avoid interest charges completely if you pay the entire balance by the due date. The Platinum card has a grace period – a span of 25 days from the end of a billing period to the due date, in which you can pay off the full balance interest-free.

Capital One Platinum also comes with a cash advance APR, which is the same as the regular APR (though cash advances have no grace period). There is no introductory APR for purchases or balance transfers, nor is there a penalty APR for delinquent payments. But keep in mind that if you pay late or miss a payment, you’ll lose the grace period. You’ll have to pay the bill in full for two straight billing cycles in order to have the grace period restored.

Capital One® Platinum Credit Card

4,719 Reviews

Learn More

James D Richard, B2B Sales

@b2bfever04/15/19

Permalink Report

The Capital One Platinum APR is 26.96%. Kind of high, if you ask, but you won't deal with it if you do not carry a balance.

People also ask

How much is the Visa credit card interest rate?

The best Visa credit card interest rate is 8.25% (V) from the Simmons Bank Visa Platinum Card. But you can do even better for a limited time with a credit card that offers a low introductory APR. For example, the Capital One Quicksilver Visa and the Chase Freedom Unlimited Visa offer 0% APRs on purchases for 15 months. The trade off is that their regular rates aren’t as good: 15.49% - 25.49% (V) for Quicksilver and 14.99% - 23.74% (V) for Freedom Unlimited.… read full answer

It’s worth noting that Visa credit cards’ interest rates aren’t actually set by Visa. The banks and credit unions that issue Visa credit cards control that. As a card network, Visa is more about where the card is accepted than anything else.

Visa Credit Card Interest Rates:

Simmons Bank Visa Platinum: Regular APR of 8.25% (V). Requires excellent credit.

Capital One Quicksilver Cash Rewards: Intro APR of 0% for 15 months and a regular APR of15.49% - 25.49% (V). Requires good credit.

Chase Sapphire Preferred: Regular APR of 15.99% - 22.99% (V). Requires good credit.

Chase Freedom Unlimited: Intro APR of 0% for 15 months and a regular APR of14.99% - 23.74% (V). Requires good credit.

Wells Fargo Cash Wise Visa: Intro APR of 0% for 15 months and a regular APR of14.49% - 24.99% Variable. Requires good credit.

Costco Anywhere Visa: Regular APR of 15.24% (V). Requires excellent credit.

Credit One Bank Platinum Visa: Regular APR of 17.99% - 23.99% (V). Applicants can get approved with bad credit

By the way, you’ll often see “(V)” after your card’s interest rate. That just means the rate is “variable” and can change a bit over time. Similarly, if a rate is listed as a range, it means your APR could be anywhere between the two numbers, depending on your creditworthiness.

Also keep in mind that you won’t have to worry about interest if you pay in full every month.

show less

What is the Mastercard interest rate?

Mastercard interest rates are 10.74% to 36%, depending on the card and each applicant’s creditworthiness. Nearly all Mastercard interest rates are variable rather than fixed. Variable rates are tied to an index rate, usually the prime rate that banks use for their most creditworthy customers. Setting specific interest rates is a card issuer’s job, though, not Mastercard’s.… read full answer

Generally, the better your credit history, the better the interest rate. For example, the Bank of America Cash Rewards Mastercard interest rate ranges from 16.24% to 26.24%, depending on your credit. Credit card type also affects the interest rate. Most secured credit cards offer a single rate, like Capital One Secured: 26.99% (V). Rewards cards like Citi ThankYou Premier – 15.99% to 23.99% (V) – often have higher maximum interest rates to compensate for the additional benefits .This could also be a sign that more than just people with excellent credit can get approved.

Notable Mastercard Interest Rates:

Lowest Mastercard interest rate: 10.74% (First Progress Platinum Prestige Mastercard Secured)

Highest Mastercard interest rate: 36% (First Premier Bank Mastercard)

Best 0% Mastercard (balance transfer): 0% for 21 months(Citi Simplicity)

Best 0% Mastercard (purchases): 0% for 18 months (HSBC Gold Mastercard Credit Card)

Credit cards will always have multiple interest rates. There are separate rates for purchases, balance transfers, cash advances and late payments. Cash advance APRs range from 24.99% to 26.99%. Penalty interest rates for late payments can be a maximum of 29.99%. The Barclaycard Arrival Plus and Citi Simplicity cards do not have penalty interest rates, for example.

If a Mastercard with the lowest possible interest rate is your priority, you may need to look beyond the big banks and explore options from credit unions. Credit unions have specific membership requirements, so check to make sure you’re eligible. show less

WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.

WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.

Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.

Ask a Question

140

Ask Question

WalletHub Transparency

We are committed to being fully transparent with our readers. Opinions expressed here are the author’s alone. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. In addition, it is not any company’s responsibility to ensure all questions are answered.