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Capital One Platinum Credit Card Review

When used responsibly, the no-frills Capital One Platinum Credit Card can help you build credit if you have a fair credit score or limited credit history. Eligible cardholders are automatically considered for a higher credit line in as little as six months. The card has no annual or hidden fees, and it provides emergency card replacement, fraud coverage and account alerts from Eno, the Capital One assistant. (See Rates & Fees)

  • Issuer NameCapital One
  • Credit NeededAverage, Fair, Limited
  • Annual Fee$0
  • APR30.74% (Variable)
  • Penalty APRNone
  • Balance Transfer FeeBalance Transfer Fee applies to balances transferred at a promotional rate
  • Cash Advance Fee5% of the amount of the cash advance, but not less than $5
  • Foreign Transaction FeeNone

  • Have limited credit history or a fair credit score and want to improve your credit with responsible use.
  • Aren’t concerned about earning rewards.
  • Want to avoid as many fees as possible.

Credit building is the main draw of the Capital One Platinum Credit Card, so you should focus on paying off your balance in full each month to improve your credit score and potentially receive a higher credit limit. Also, take advantage of your unlimited access to CreditWise in order to monitor your credit profile.

With the Capital One Platinum Credit Card’s high APR of 30.74% (variable), it pays to avoid carrying a balance. If you think you’ll carry a balance, consider a card with a lower purchase APR or one that comes with an introductory APR period you can use to pay off your balance interest free.

Editor’s Take

The Capital One Platinum Credit Card should be considered a tool to help you build your credit. With no way to earn rewards, this card makes little sense for those with above-average credit who can qualify for a card that offers rewards, sign-up bonuses and additional cardholder perks.

This card has no welcome offer or sign-up bonus.

There is no way to earn rewards with this card.

U.S. News rates credit cards by analyzing factors including fees, interest rates and benefits, each weighed against their importance to determine an overall score for each credit card. Consumers can rely on these ratings to provide objective, accurate assessments of credit card choices.

Best in Rewards Credit Cards

For rates and fees of the Capital One Platinum Credit Card, (See Rates & Fees).

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

Sarah Goldberg
Sarah Goldberg

Sarah is a seasoned financial market expert with a decade of experience. She's known for her analytical skills, attention to detail, and ability to communicate complex financial concepts. She holds a Bachelor's degree in Finance, is a licensed financial advisor, and enjoys reading and traveling in her free time.

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