Capital One Platinum Card Reviews for 2023 | WalletHubReviews, rates, fees, and customer service info for The Capital One Platinum Credit Card. Compare to other cards and apply online in secondsJohn KiernanWalletHubNo annual feeAvailable to people with limited creditFree credit-score accessNo foreign transaction feeNo rewardsHigh regular APRNo reduced introductory rates
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
The Capital One Platinum Credit Card is a good credit card for people with average credit or who are new to credit. It is worth applying for the Capital One Platinum Card because of its $0 annual fee and the fact that it reports account information to the 3 major credit bureaus each month. That’s all you need to build credit inexpensively. Just make sure to pay the monthly bills on time and keep your balance well below Capital One Platinum’s credit limit.
WalletHub Rating Breakdown
User Reviews
3.6/5
5,429 reviewsRead and write reviews
Editor’s Review
5.0/5
John Kiernan, Credit Card EditorRead full review
Market Comparison
3.4/5
Compared against 1,500+ credit cards
KEY TERMS
No Annual Fee
So you can build credit at no cost.
Accepted Credit Scores
Accepted Credit Scores
Fair Credit, Limited History
Capital One Platinum Annual Fee
$0
Capital One Platinum APR on Purchases
30.74% (V)
Capital One Platinum Balance Transfer
APR: 30.74% (V)
Balance Transfer Fee:$0 at the Transfer APR, 3% of each transferred balance at a promo APR that Capital One may offer
Capital One Platinum's Additional Info
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No annual or hidden fees. See if you're approved in seconds
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Be automatically considered for a higher credit line in as little as 6 months
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Help build your credit through responsible use of a card like this
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Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
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Monitor your credit score with CreditWise from Capital One. It's free for everyone
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Get access to your account 24 hours a day, 7 days a week with online banking from your desktop or smartphone, with Capital One's mobile app
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Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you're all set
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Pay by check, online or at a local branch, all with no fee - and pick the monthly due date that works best for you
The Capital One Platinum Credit Card is a good credit card for people with average credit or who are new to credit. It is worth applying for the Capital One Platinum Card because of its $0 annual fee and the fact that it reports account information to the 3 major credit bureaus each month. That’s all you need to build credit inexpensively. Just make sure to pay the monthly bills on time and keep your balance well below Capital One Platinum’s credit limit.
You should also be sure to pay your balance in full each billing period if you decide to apply for Capital One Platinum. A low APR is not among Platinum’s perks. Capital One Platinum does not offer rewards, either, but there aren’t many rewards cards for people with limited credit who aren’t in college.
Capital One Platinum Review Highlights
No frills, no fees
Some people might be turned off by the Capital One Platinum Card’s lack of both rewards and 0% introductory APRs. But at this point in your credit career, your top priority should be building credit as inexpensively as possible. And Capital One Platinum helps you do that by not charging annual, monthly or one-time fees. You won’t have to worry about foreign-transaction fees, either.
Designed for credit newcomers
The Capital One Platinum Card does not have a specific minimum credit score requirement, but the card was built for building credit, so applicants with limited credit history or a fair credit score can get approved. The Capital One Platinum Card is not available to applicants with bad credit.
Applicants who get approved for the Capital One Platinum Card can efficiently build a good credit score, too. As long as you pay your bill on time every month and avoid using your full credit line, Capital One will report positive account information to the major credit bureaus, helping you create a track record of credit responsibility. You can monitor your progress with WalletHub’s free daily credit score updates.
Good customer service
Capital One’s website and mobile app also enable you to solve a lot of customer service problems without calling. That includes activating your Capital One Platinum Card if you decide to apply and get approved, for example. To activate a Capital One Platinum Card, go to Capital One’s online card-activation page, sign in or create an account, and enter the 16-digit card number along with the card’s 3-digit security code.
Bad for carrying a balance
The Capital One Platinum Credit Card is not the best choice for financing, as any balance carried from month to month will accrue interest at an annual rate that’s higher than the 25.77% rate charged by the average credit card for fair credit, according to WalletHub’s most recent Credit Card Landscape Report.
Potential for a higher limit after 6 months
Cardholders are automatically considered for a higher spending limit after the first 6 months, based on initial performance. That could help improve your credit utilization, thus benefitting your credit score, but a higher limit is not guaranteed.
Can't find what you are looking for? Submit your question about Capital One Platinum Credit Card to our community. Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this card. In addition, WalletHub independently collected information for some of the cards on this page.
If you lost your Capital One Platinum card, you must report it as soon as possible at the following phone number: (800) 227-4825. Capital One will lock that card and issue you a new one.
Meanwhile, if you have online access, you can also temporarily lock the card from your online banking account. Once you're logged in, select “View Account”, click on “I Want To” and then on “Lock Card". Another way to do it is via Capital One's mobile app by scrolling...
Secured credit cards require cardholders to add a security deposit, which acts as a credit limit. This deposit is refundable when the cardholder closes the card. While the card is active the deposit serves as a guarantee that the issuer will get paid back for debts on the card. Since Capital One Platinum is unsecured,...
No, there is no fee to add an authorized user to your Capital One Platinum Card. There is also no age requirement to add a user, and you can have up to 9 authorized users on your account.
To add someone as an authorized user to your Capital One Platinum Card, log in to your online account or call customer service at (800) 227-4825.
To reset your Capital One Platinum Card PIN, log in to your online account and head over to the "I Want To" tab. Check under the "Control Your Card" column, select the "Get Cash Advance" option and then follow the instructions to reset your PIN.
You can also reset your PIN via the Capital One mobile app or over the phone at (800) 955-7070 (or the number listed on the back of your card).
You cannot get approved for a Capital One Platinum after bankruptcy.
Not immediately after, at least. If your bankruptcy is discharged and you have a credit score of at least 650, give it a shot. Otherwise, look at the Capital One Secured instead.
Capital One Platinum was primarily designed for people with no credit and they tend to reject applicants with bad credit.
Yes, you will be able to use your credit card to purchase a train ticket. Just make sure to activate it first at: www.capitalone.com/activate. Enjoy your travels!
Your Capital One Platinum Card account is automatically opened as soon as you are approved for the card. Activating the card enables you to start making purchases with it, but it does not impact the status of your account.
If you prefer to delay the activation of your card, that is possible. However, it is advisable not to wait excessively. While there is no specific time limit for card activation, it is recommended not to wait...
The Capital One Platinum Credit Card has no limited-time promotions, but it has a $0 annual fee, which is a plus. Cardholders do not need to do anything specific to take advantage of this, as it applies automatically.
While the Capital One Platinum doesn't have any limited-time promotions, that's not unusual for cards targeted to people with limited credit. You may be able to find other cards that have more promotions, though.
Share your insights and review for the Capital One Platinum Credit Card
5
30%
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24%
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3.6
5,429 reviews
5,429 reviews
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Marvin R Fields @marvinrfields
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5 Star Rating
Verified Customer
A good card to have. Initially the annual fee is deducted , it was not noted in the paperwork. It has built up my credit swiftly. I recommend this card as a good start.
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Nurten @gloryhunt
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1 Star Rating
Verified Customer
If you are trying to establish a credit Capital One is DEFINITELY NOT the best choice, yes it is easy to get approved for $300, guess what??? your line of credit will never increase, in the long run it will hurt your credit, because if you carry a balance anything over 10 % of your limit, it is a FICO killer, it is basically useless and as you improve your credit and credit limits with other credit cards your $300 limit with Capital One will not look good to other Creditors. Why??? It tells the other creditors you are coming from either bad/ poor credit or no credit years after you opened the account and they will take that into consideration for how much line of credit you deserve, it is a marker, It's like having a record, if you get this card consider yourself MARKED!!! That includes the credit invisible people who lived within their means and never had to borrow, you would think those should be the one with the best credit but there is no distinction with no credit or bad/poor credit. Further more, they keep nagging you about accepting a pre-approved second line of credit, their upper tier Savor card, when they did not even bother to increase the line of credit on the first one for exactly 2 years and my current TU FICO score is 771! That's like ruining your chances of a getting better credit line of credit with other companies yet they are willing to extend you second line of Credit that is of course if you immensely enjoy having another high interest card with higher limit. All along your first line of credit limit is still $300. Of course, I will not go for the second line, it's a matter of principal, First deliver on the first line by increasing the limit and if you want me to consider a second line of Credit, convince me how it is better than the first line I already have!!! I already upgraded my card to Quick Silver so 1 percent more cash back will not cut it!
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kristenw_47 @kristenw_47
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1 Star Rating
Verified Customer
They are not reporting accurate. I paid off and last report was February 2023. This is s unacceptable!!!!!!!!!!!!!!!!! They want you to overspend
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Bonnie L Buchanan @bonniebuchanan
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3 Star Rating
Verified Customer
Careful of a Bit of a BAIT & SWITCH‼️ Initially CO approved me for another card, that had Cash Back, 12-18mth 0%APR. Within approximately 6 mths, CO offered me what was supposed to be a ‘better’ Card Deal (this card) that was supposed to Save Me $X Dollars. I hesitated accepting, but they had a pop up they Added to my HomeScreen/Dashboard to ‘Accept’ that *New* Card, and eventually, I accidentally Clicked Accept. And, I got this New Card = Capital One Platinum Master Card.
Now, Instead of a 27.24% APR, which is HORRIBLE enough, I now have a 31.24% APR‼️??♀️
I have also had this card for almost a Year, and Have been declined for a Credit Increase, because of a lack of Frequent and/or High enough Use! But, I haven’t found the ‘Benefits’ as good for this card compared to my Chase Freedom Unlimited Card, so I haven’t been using it as much. Also, my Chase Card Gave me an increase w/o My seeking one, at just over 6mths from Acct Open‼️ • Reluctant to give Credit Increase compared to Other C/C CO’s • Cash Back is thru Retail Vendors, but Must Sign Up for Each Retailer • To Recv Discount Comparison Pricing Extension Must be ADDED to Your Computer’s Web Browser, which is a pain if You do not use a PC!
Yes!, I would get the initial Card; However, I would hesitate and likely NOT accept CO’s offer to switch Credit Cards!
I will likely update this review later.
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John @johnpetersonmn
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5 Star Rating
Verified Customer
Excellent card! Very good opening credit line. And so far, the customer service speaks English. I pay my balance every month and the payment goes through quickly.
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Thomas @tommykelp231
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5 Star Rating
Verified Customer
A great card ,I love it so thank you Capital one,for giving me a chance to prove I'm responsible now and thanks for the opportunity to better my credit score
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Clarence F McCloud Jr @mcclouc
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5 Star Rating
Verified Customer
My Capital One Platinum Credit Card has afforded me satisfaction to purchase with confidence while saving. I look forward to future purchases.
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Grace @donnyphant
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5 Star Rating
Verified Customer
Great card with easy daily access to the account balances and statements. I use the card during the month then pay it off by or before the due date
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Billy @billyp_32
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3 Star Rating
Verified Customer
Good website, app, and customer service. Good card when starting over or rebuilding. However, despite Capital One later approving me for three other cards with 10x the limit of this card, they still won't increase the credit limit on this card. As a result, it doesn't have a place in my wallet.
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Kenneth @kennethamoore
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5 Star Rating
Verified Customer
This is a nice card to have from a highly reputable bank. It truly has assisted me in my credit improvement endeavor. If you're in need of credit repair, I would recommend this card.
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Review Capital One Platinum Credit Card
Expert Thoughts on Capital One Platinum
To help people who are interested in the Capital One Platinum Card make an educated decision, WalletHub posed the following questions to a panel of experts. You can find the experts listed below. Simply click “READ MORE” to check out an expert’s answers and advice.
Which type of credit card is better for beginners: one with no annual fee and no rewards, or one with rewards and an annual fee?
Why don’t more credit card companies offer cards for people with limited or no credit history?
When is the best time to apply for a credit card like Capital One Platinum?
J. Carlos Martinez Faculty of Economics, Dallas College, El Centro Campus Read More
Tingting Jia Ph.D., Visiting Assistant Professor of Finance, Bucknell University Read More
Michael Simkovic Leon Benwell Professor of Law and Accounting, USC Gould School of Law Read More
Nilton Porto MBA/Ph.D. – Associate Professor, Consumer Finance Human Development & Family Science, University of Rhode Island Read More
Lauren Stansell CFP®, Partner • Senior Financial Planner Read More
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