Capital One Platinum means the Capital One Platinum Credit Card, 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
You can get approved even with limited credit.
The card helps people build credit, as it reports account information to the 3 major credit bureaus each month.
Cardholders do not earn rewards on purchases.
The card comes with a high APR.
Capital One Platinum does not offer any 0% introductory rates for purchases or balance transfers.
There are no annual, monthly, or foreign-transaction fees.
New cardholders are automatically considered for a higher spending limit in as little as 6 months.
Yes, you can withdraw money from your Capital One Platinum card at an ATM, as long as you have a PIN. This transaction is considered a cash advance. You can request a cash advance PIN for your Capital One Platinum through your online account or by calling customer service at the number you see on the back of your card.… read full answer
If you don't have a PIN, you can get a cash advance inside a bank lobby that displays the Visa or Mastercard credit card logo. You’ll also need to provide a government-issued photo ID like a driver's license along with your Capital One Platinum card.
How to Withdraw Money from Your Capital One Platinum Card at an ATM
Log in to your online account or call Capital One customer service at the number you see on the back of your card and request a PIN, if you don’t already have one.
Insert the credit card at an ATM and enter the PIN.
Select the cash advance option on the ATM screen.
Enter the amount you’d like to withdraw.
Withdraw the cash and remove the credit card from the ATM.
Before you withdraw money from your Capital One Platinum card, it’s important to note that it is a very expensive transaction. For starters, there’s a cash advance fee of 3% (min $10). There’s also a separate cash advance APR of 28.49% (V) that applies as soon as you withdraw the cash. There may be ATM-owner fees, too.
The credit score needed for the Capital One Platinum Credit Card is at least 640. The Capital One Platinum Credit Card is also available to people with limited credit history, which means you may be able to get approved even without a credit score.
You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Capital One Platinum Card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status and housing status.… read full answer
If you excel in other areas, you might be able to get approved with a slightly lower credit score in some cases. But it’s best to wait to apply until you meet the Capital One Platinum credit score requirement. You can check your credit score for free on WalletHub.
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