The Capital One Platinum credit card is one of the best cards available to build and maintain a good credit score. It's a solid option because there is no annual fee and there is no foreign transaction fee.
However, the Capital One Platinum card comes with an interest rate that is higher than average. This card isn't suitable for people who are budget-conscious and want to reduce their debt. Capital One Secured Mastercard would be a better choice. It comes with no annual fee and a non-refundable security deposit.
The Capital One Platinum card doesn't offer rewards but it does have some features that could benefit your credit. In particular, the Capital One CreditWise suite will give you access to credit-building tools. You'll also have access to educational content and a free credit score.
You can pay the bill online or at a local branch. TransUnion, Equifax and Experian will report your payments. By maintaining your balance and making payments on time, you'll improve your credit score. Continue to use Capital One Platinum creditcard and you'll be able to increase your credit line while lowering your credit utilization.
Capital One Platinum card offers some great travel perks. Your card can be used abroad without any foreign transaction fees.
These features are not the only ones offered by Capital One Platinum Card. After six months, you will receive an automatic credit increase. Your credit history will determine your eligibility for a credit line increase.
To apply for the Capital One Platinum card you will need to fill out an Application. Your credit score as well as your income determine your eligibility. A card can usually be approved for applicants who have a minimum FICO score 580. But keep in mind that some companies have strict guidelines. If you have a history of delinquencies, for example, you may not be approved.
Capital One Platinum card also has a lower than average credit utilization ratio. Lowering your credit utilization rate is a great way to raise your credit score. The Capital One Platinum can help you establish credit history even if your credit score isn't high enough to qualify for a card.
The Capital One Platinum Credit Card is an attractive option for those with good or average credit. Since it doesn't require an up-front deposit, it's a good choice for those who are just starting to build their credit.
Capital One Spark Miles Select is one of the other cards that you should consider. These cards will allow you to get cash back and redeem your rewardpoints for Amazon shopping.
Low annual fees, security alerts, fraud liability, and low annual fees are just a few of the other features you should look for when applying to Capital One. Although some may complain about the lack of options with the Capital One Platinum card it is a great choice for those who need a little help rebuilding credit.