More than 75 Visa credit cards have the word “Platinum” in their name, as of Feb. 2019. But not all of them have rewards, and even fewer are elite, luxurious offers worthy of that label. Still, there are several top-notch Visa Platinum credit cards with plenty of worthwhile perks.
The best Visa Platinum rewards cards may also come with supplemental benefits such as rental car insurance, extended warranties and travel accident insurance. But so too do many Mastercard rewards cards, and you don’t want to miss out on a great deal by eliminating from consideration cards from one major network without a good reason.
The best Visa Platinum rewards card is the UMB Simply Rewards Visa Platinum Credit Card. It gives 3 points per $1 spent on gas, groceries, dining and discount store purchases (1 per $1 on all other purchases). The UMB Simply Rewards Visa Platinum Card also offers an initial bonus of 15,000 points for spending $1,500 in the first 90 days. Other perks include an introductory APR of 0% for 12 months on purchases and a $0 annual fee.
Lots of different issuers have “platinum” Visa cards. Their rewards and benefits differ wildly. Another good option is the PenFed Platinum Rewards Visa Signature card. It has a $0 annual fee. Its initial bonus is a $100 statement credit for spending $1,500 in the first 90 days. And it offers 5 points per $1 spent on gas, 3 points per $1 on supermarket purchases, and 1 point per $1 on other purchases. You have to be a member of Pentagon Federal Credit Union, which is free for U.S. military members, federal government employees and their relatives. Or, anyone can join by making a one-time donation of $17 to one of two military charities.
The Capital One Platinum credit limit is $300 or more, depending on your creditworthiness. So as long as you’re approved for the card, you’re guaranteed at least a $300 spending limit. But if your credit score and income exceed what Capital One is looking for, you could definitely start off with a higher limit. Some users have reported Capital One Platinum credit limits of $500 to $1,500 to start.… read full answer
Keep in mind that you aren’t stuck with your starting Capital One Platinum credit limit forever. Capital One may increase your limit if you make your first 5 payments on time. You can also request an increase yourself. Many users report their limits increasing over time.
Capital One Platinum credit limit details:
You’re guaranteed a credit limit of at least $300 if you’re approved for Capital One Platinum.
Capital One Platinum only requires limited credit for approval. If you have good credit or a lot of income relative to your debt, you’ll likely start with a higher limit. Some users report getting $500-$1,500 initially.
Capital One may increase your credit limit after you make your first 5 monthly payments on time. After the first 5 months, they will review your account periodically to see if you deserve a higher limit. Pay more than the minimum each month, if possible, to boost your chances.
You can request a credit limit increase yourself by calling customer service at 1 (800) 227-4825. You can also log into your Capital One account. Just choose “Request Credit Line Increase” from the “Services” tab. You’ll have to provide information about your income and employment for Capital One to make their decision.
So you’ll get $300+ from Capital One Platinum to start. If you use your card responsibly, you’ll provide yourself with opportunities to increase your limit. But it’s best not to ask for an increase before five months of on-time payments, as you’ll probably be denied. If you do request an increase, Capital One may generate a hard inquiry, or “hard pull,” of your credit report. This will cause a slight drop in your credit score. That’s pretty standard.
There are actually more than 75 credit cards on the Visa network that have "Platinum” in their name, according to WalletHub’s database. So "Platinum Visa card” isn’t as descriptive as you might think. But that doesn’t mean it’s meaningless. For one thing, we know a Platinum Visa card can be used pretty much anywhere that takes plastic, as Visa is one of the world’s largest card networks. There’s also a good chance that the card is for someone with good or excellent credit, as only a few Visa Platinum cards will approve you with lesser credit standing. Similarly, most Visa Platinum cards do not charge annual fees.… read full answer
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