Capital One Platinum Credit Card Benefits Guide


If you are considering applying for a Capital One Platinum Credit Card, you may be wondering which benefits you can get. First, you should know that this card has a fairly low credit limit. Also, you don’t have to worry about paying an annual fee, foreign transaction fee, or balance transfer fee. These fees are usually charged by other credit cards.

Capital One Platinum Credit Card offers a low credit limit

One of the benefits of the Capital One Platinum Credit Card is that it offers a low credit limit. The maximum credit limit is $3,000 and is based on your credit score and overall financial status. However, you can increase your credit limit after a few months of on-time payments.

The Capital One Platinum card does not charge an annual fee, and there is no security deposit to open the account. This makes it one of the most cost-effective unsecured credit-building cards. In addition, it offers a good chance of approval for people with fair to poor credit. With a FICO score of 580, you can qualify for the credit card. The account is reviewed automatically every six months. The only drawback is that the card does not offer any rewards system.

If you are concerned about your credit score, you can request an increase in your credit limit. You can do this by contacting Capital One. The company will process your request and notify you of its decision in a letter or phone call. The amount of the increase depends on your income and creditworthiness. However, it is important to note that Capital One will not increase your limit if you have bad credit.

No annual fee

Unlike other credit cards, the Capital One Platinum Credit Card does not have an annual fee. In addition, it does not charge foreign transaction fees. These fees are charged by banks. By not having an annual fee, you can save hundreds of dollars a year. Other benefits of the Platinum card include the ability to make purchases online and a $0 fraud liability. Moreover, you can gain access to the CreditWise app, which will help you keep track of your credit profile. This can be helpful in building credit and fixing bad credit.

Another great feature of the Capital One Platinum Credit Card is that it enables you to increase your credit limit after you have made five on-time payments. The amount of the increase depends on your needs. However, if you have bad credit, an increase of $500 or $800 could help your credit score. In addition, a higher credit limit will reduce your credit utilization, which is the ratio of your credit card balances to the total available credit limit.

No foreign transaction fee

Aside from offering no foreign transaction fee and no annual fee, the Capital One Platinum Credit Card also helps you build your credit. You can use it to purchase items online and boost your credit score. The card also allows you to pay your credit card bill right from your Capital One checking account.

You can save hundreds of dollars on foreign transactions with this card. While other cards charge you up to 3 percent for foreign transactions, the Capital One Platinum Credit Card has no foreign transaction fee. Having no foreign transaction fee may seem like a small benefit, but in the long run, it will save you a significant amount of money.

You can check to see if the card charges a foreign transaction fee when you use it abroad. Many card issuers don’t advertise this fee, so you may not see it on the front page. But the fee is there, and it will be listed under “Fees” in the terms and conditions. The fee is assessed on a per-transaction basis and is usually 1% to 3% of the transaction value.

Balance transfer fee

Capital One is a great balance transfer credit card. It allows balance transfers from other lenders, but it does not allow card-to-card transfers. When you request a balance transfer, you’ll need to give your account information and payment address to the bank that issued your card. Once the bank receives the information, they will initiate the balance transfer for you. The entire process can take anywhere from three to 14 days. You’ll also have to continue to make payments to your current creditors until the balance transfer is complete. You can check on the transfer status at any time by going to the Capital One website.

Another benefit of using this card is that it has no foreign transaction fee and no annual fee. This makes it a great option for people who want to make purchases abroad. You can also enjoy fraud protection when you shop online using your card. Additionally, you’ll have access to Capital One’s CreditWise app, which helps you monitor your credit profile. This app can be helpful when you’re trying to repair or build your credit.

Unlimited access to CreditWise from Capital One

CreditWise is a free service that offers unlimited access to your TransUnion VantageScore 3.0 credit score. The service is designed to help more consumers monitor and understand their credit profile. You can get updates on your credit score every week and even have the information sent to your mobile device.

Unlimited access to CreditWise from CapitalOne is a great way to keep an eye on your credit score. This service keeps you updated on changes to your credit score and report and allows you to predict what actions will have the biggest impact on your TransUnion score. You can also use a simulator, accessible through the Capital One mobile app, to see how different actions will affect your score.

Unlimited access to CreditWise from CapitalOne is also available with the Capital One Platinum credit card. This service offers email alerts when changes are made to your TransUnion credit report. CreditWise also has a credit decision simulator, which allows you to compare the impact of different changes before making a final decision. The service is also free and offers other benefits like no foreign transaction fees or annual fee.


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