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Regular Purchase APR
Intro Purchase APR
Intro BT APR
Typical Credit Needed
Foreign Transaction Fee
Balance Transfer Fee
$0 at this Transfer APR
Cash Advance Fee
3% of the amount of the cash advance, but not less than $3
The Capital One Platinum Credit Card is made for those who want a card with Platinum Mastercard benefits, but only have average credit and cannot qualify for a better card option. There is no annual fee for this card, which is pretty rare for a card that doesn't require excellent credit to get approved. There is no balance transfer fee at the 29.74% (Variable) balance transfer APR.
The real reason to get the Capital One Platinum Credit Card is to have a real Mastercard with features like text alerts to keep you informed about your account, $0 Fraud Liability if your card is lost or stolen, travel accident insurance, an extended warranty program, and more.
If you have fair credit then this card gives you a way to enjoy the perks and features of a Mastercard, despite your less than stellar credit. The interest rate is pretty high, but there is no annual fee, no surcharge for doing a balance transfer, and you have access to some helpful account management tools.
The good thing about this particular card is that it allows someone to have a genuine Mastercard when they do not really have great credit. It's a great first-time credit card.
The interest rate is high and if you carry a balance that can get really expensive, really fast. You should pay your balance in full each month with this card because of the 29.74% (Variable) APR.
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