Capital One Platinum Card is tailored for those with fair credit – FICO defines this range as between 580-669.
New card members with fair credit are eligible for an attractive welcome offer: after spending $500 within three months of opening an account with Fair credit cards, they’ll get an impressive one-time $200 cash bonus as an initial reward! This incentive makes a welcome offer highly desirable.
No annual fee
Capital One Platinum credit cards offer an effective solution for those looking to build or rebuild their credit with no annual fee and a lower refundable security deposit of $49. Additionally, these cards do not charge an APR when purchases are made and cardholders can earn an incentive bonus when spending $1,000 in three months after opening an account.
However, its benefits are fairly limited as it doesn’t offer rewards programs or 0% APR balance transfer offers. Instead, this card focuses on building credit by offering an easy signup bonus that’s easily earned and an increase to credit limit after six months of on-time payments. If rewards credit cards are what you seek instead, the Capital One Quicksilver may be better.
Capital One credit cards don’t charge annual or foreign transaction fees, making them ideal for frequent travelers. Furthermore, this card provides cardholders with security features like locking their cards through its mobile app and emergency replacement services if lost or stolen cards arrive at their homes. Furthermore, Capital One doesn’t impose an APR charge for cash advances which is essential as keeping balances open can result in high-interest rates and negative impacts to your credit rating.
Capital One Platinum is an ideal option for individuals with average credit who are looking to establish or rebuild their credit without incurring an annual fee. It features an extended introductory APR period on purchases and balance transfers, plus no penalty APR for late payments. While it doesn’t feature rewards programs or rewards points programs, cardholders do gain access to CreditWise which helps cardholders manage and improve their scores.
Capital One Quicksilver card has a higher rewards rate than Capital One Platinum card; however, its annual fee of $39 may deter cardholders. Additionally, similar benefits are available through other credit cards at much lower costs.
No penalty APR
The Platinum credit card stands out among similar cards by not imposing penalty APRs and not requiring security deposits – two key benefits when trying to rebuild credit. Furthermore, this card provides access without incurring penalties associated with penalty APRs; another major advantage for those without sufficient funds to make such deposits in order to rebuild credit.
Capital One Platinum offers many advantages to cardholders, such as an introductory APR of 0% on purchases and balance transfers for 15 months, along with a rewards program offering 1.5% cash back on every purchase and 5% when hotels or rental cars booked through Capital One Travel are booked through Capital One Travel. In addition, no annual fee applies and one-time $200 bonus when spending $500 within three months of opening an account!
This card is tailored for individuals with average or fair credit and can help build strong credit histories through responsible use. There is a low barrier of entry for this card, making it a suitable alternative for those unable to get approved for the Quicksilver cash rewards credit card or with less impressive scores.
As well as offering a 0% introductory APR, this card also features no annual fee and waived balance transfer fees for the first 15 months after opening your account. In addition, after making six consecutive on-time payments you may request an increase to your credit limit and accessing your free CreditWise score to monitor progress.
Both Capital One Platinum and Quicksilver cash rewards credit cards offer excellent options for individuals with fair or average credit who wish to build it, with the latter boasting an introductory 0% APR offer on purchases and balance transfers as well as a rewarding rewards program.
Although both Capital One Platinum and Quicksilver cards can help build credit, to be eligible you’ll require excellent or good credit to qualify for them. Furthermore, most competitive rewards credit cards feature high barriers of entry that reward responsible spending practices.
No foreign transaction fee
The Capital One Platinum card provides frequent travelers with no foreign transaction fee and features such as $0 liability for fraudulent purchases and account alerts via mobile apps such as Capital One’s. It is an ideal solution for building or rebuilding credit with an excellent approval rate; however, there is no sign-up bonus or earnings.
Capital One Quicksilver Card (rates & fees) is an ideal option for individuals with average or fair credit, since it offers 1.5% cash back on purchases while charging no annual fee. Although spending $2,600 would cover its annual fee, this unsecured credit card provides fair/average credit people a way to build their history without the need to provide collateral deposits as part of approval requirements.
Capital One Platinum credit cards stand out by not charging an annual fee and do not levy penalty APR rates for missed payments – making them a valuable option for consumers with poor or fair credit who cannot afford steep penalty APR rates charged by other unsecured cards.
Unlike some other credit-building cards, the Platinum card doesn’t feature an introductory APR or credit limit increase fees – making this card an excellent way to focus on paying your balance and building credit responsibly while simultaneously giving access to CreditWise credit monitoring service for free.
Capital One Platinum and Quicksilver credit cards are both unsecured, no security deposit required cards that make an excellent option for those with fair or limited credit who don’t want to make large payments each month. Furthermore, the Quicksilver card features a lower spend threshold than its Platinum counterpart, making it easier for people with fair credit to qualify for sign-up bonuses and earn sign-up bonuses more quickly. Both cards also provide numerous additional features, such as redeeming rewards for cash back or statement credits and an $0 fraud liability guarantee guarantee.
No annual credit report
The Quicksilver card offers an attractive sign-up bonus and rewards rate of 1.5% across all purchases, no annual fee and an extended introductory APR on purchases and balance transfers. However, its high APR after the introductory period means it may not be suitable for those with poor credit or who don’t care as much about earning rewards. Meanwhile, for those with average or great credit who want less of an incentive reward system the Platinum card may be the better choice; offering excellent balance transfer APR protections as well as cash back rewards rate of 1.5% across all purchases.
Both cards are unsecured, making them accessible to individuals of all credit histories. You’ll initially be granted a small initial credit limit, with an option to increase it after six on-time payments have been made on time. Both offer features such as no fraud liability, secure account access and the capability of setting up automatic payments; you can even opt-in for security alerts via text, phone call or email should any suspicious activity arise on your account.
However, unlike its Quicksilver counterpart, the Platinum card does not feature many of its benefits such as cash back programs and automatic credit limit increases after six on-time payments. While it can still help build credit, other alternatives should be explored if you require more than just basic reporting to the major bureaus.
Capital One stands out with a solid customer service reputation. They scored an 808 on the 2020 J.D. Power Credit Card Satisfaction Study, placing them fifth among credit card issuers. Their website offers round-the-clock live customer support for cardholders. Capital One also provides an intuitive mobile app which enables cardholders to check their report and score, track spending habits, pay their bill on the go and view upcoming bills while receiving real-time notifications of late payments.