Credit One Bank® Platinum Visa® for Rebuilding Credit

Yes and No. You should be able to use your card basically everywhere that takes plastic, with the exception of automated payment machines, such as the kiosks in train stations and self-serve gas pumps, which only accept chip-and-pin cards. The fact that this card uses chip and signature security is not the main reason why you should question bringing it abroad, however. It charges a 3% foreign transaction fee on any purchase that is processed outside of the United States, which could significantly inflate the cost of your trip. You should still make sure to have a credit card when traveling, though, both for security and because credit cards charge far lower exchange rates than you'd get when exchanging actual U.S. dollars for Euros at a bank or airport kiosk. None of Capital One's credit cards have foreign transaction fees, for example, which means the Capital One Secured MasterCard ( https://wallethub.com/d/capital-one-secured-credit-card-383c/ ) and the Capital One Platinum Card ( https://wallethub.com/d/capital-one-platinum-83c/ ) could be options. Let us know if you have any other questions, and have a great time!

The easiest way to regain spending power is to pay off some of your balance. If you just got approved for a $400 limit, that would have left you with $325 in available credit considering the card's $75 initial fee. If you then made $325 in purchases, bringing your available credit to zero, you would need to make a $300 bill payment in order to regain $300 in spending power. It's also important to note that while some credit cards enable you to pay a fee in order to to obtain a higher overall credit limit, this Credit One Visa is not among them. Cardholders are eligible for credit line increases based on performance (e.g. paying bills on time), but you'll likely need to prove yourself for at least six months before this comes into play.

The Credit One Platinum does not have a monthly fee. The annual fee (if applicable) will be billed to your account when it’s opened and will reduce the amount of your initial available credit. Furthermore, you won’t have to pay any interest if you pay your balance in full each month.

Unfortunately, the issuer does not disclose this information, so there is no way to know for sure. Plus, a lot depends on the nature of your initial performance with the card as well as market conditions. With that being said, it’s unlikely that your first credit-limit increase will be at all sizeable, so you shouldn’t expect a bump of much more than $50-$100. Sorry we couldn’t be of more help.

This card is intended for people with bad credit, which means anyone with a score in the 300 - 639 range has a good chance of getting approved. But with that being said, approval isn’t as guaranteed as it would be with a secured credit card. What’s more, your credit score isn’t the only factor that lenders consider, as your income and existing debt obligations will also be evaluated. If you’re interested in tracking your credit-improvement progress, you can get free credit scores updated on a daily basis on WalletHub: https://wallethub.com/free-credit-score/.

You should be able to use your Credit One Platinum card basically everywhere that takes plastic, as it is a Visa.

However, it's a chip-and-signature card and vending machines and automatic payment services for travel tickets or gas won’t work with it. Don't worry though, because you should usually be able to find a staff member to process your transaction if you’re at a gas station or buying a train ticket for example.

Please note that the Credit One Platinum charges a foreign transaction fee on any purchase that is processed outside of the United States, so you may want to get a no-foreign-transaction fee credit card instead. 

Alternatively, using a debit card can be a better option if you intend to mainly pay using your card, or take cash from ATMs. You can benefit from reduced fees or even no fees at all.

Yes, but you will first need a PIN. You can obtain that by calling customer service at 877-825-3242 or by clicking on the “Request a PIN (Personal Identification Number)” link on the “Update My Info” page of the Credit One website: https://www.creditonebank.com/home.aspx . Just keep in mind that you will incur a fee of $5 or 8% of the amount you withdraw (whichever is greater), and interest will begin to immediately accrue on your withdrawal at a rate of 18.15% to 25.40%.

You can use this card for purchases too, everywhere VISA is accepted.

Paying off your balance enables you to completely avoid interest charges. Also, if you pay your bill in full every month, you will benefit from a grace period of up to 24 days (i.e. the period between when your bill is made available each month and when interest begins to be assessed). For more information on this topic, you can check out our Credit Card Bill Payment Guide: http://wallethub.com/edu/paying-credit-card-bills/25558/ . Hope this helps!