Chip Lupo, Credit Card Writer
@CLoop
The biggest disadvantage of the Capital One Platinum Credit Card is that it has no rewards, and a high interest rate, at 29.74% (V). This is due largely to the fact that the card is targeted toward people with limited credit.
Capital One Platinum Disadvantages
- High APR: The Capital One Platinum has a relatively high APR, at 29.74% (V).
- Lack of rewards: The card unfortunately does not provide any cash back, points or miles.
- No 0% intro APR on purchases: The Capital One Platinum does not currently offer a 0% intro APR promotion on purchases, so it is not good for people looking to finance big purchases.
In addition, there are plenty of other disadvantages applicable to all or most credit cards. Some examples are the hard credit pull that usually happens when you apply, interest charged on balances that are carried from month to month, and the potential to overspend.
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People also ask
What is the maximum Capital One Platinum credit limit I can get?
The Capital One Platinum credit limit can be as high as $3,000 according to online cardholder reports, but it will depend entirely on the specifics of each applicant’s credit and their overall financial situation. Most cardholders get credit limits of at least $300, though.
The Capital One Platinum card is designed for people with limited credit (less than 3 years of credit history). If your credit score and debt-to-income ratio are significantly better than the issuer’s minimum requirements, your chances of getting a higher...
read full answer by Thomas Antonsson, MemberWhat does Capital One Platinum mean?
Capital One Platinum (see details, rates & fees) means the Capital One Platinum Credit Card (see details, rates & fees), which is a starter credit card geared toward people with limited or fair credit. Capital One Platinum is one of the best credit cards for beginners because it has a $0 annual fee, giving first-timers the chance to build credit inexpensively.
Key Things to Know About Capital One Platinum (see details, rates & fees)
- You can get approved even with limited credit.
- The card helps people build credit, as it reports account information to...
What is the Capital One Platinum Credit Card credit score requirement?
The Capital One Platinum Credit Card (see details, rates & fees) is available to people with limited credit. That means you may not need to have a credit score to get approved for the Capital One Platinum Credit Card (see details, rates & fees).
Note that there are plenty of other things that will impact your chances of being approved for the Capital One Platinum (see details, rates & fees), too. Some other key criteria include your income, existing debt load, recent credit inquiries, number of open accounts, housing status, and employment status. You can check your credit score for free on WalletHub.
read full answer by Paddy Sullivan, WalletHub Credit Card AnalystDid we answer your question?
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