Capital One Platinum Card Review: Mastercard Credit Builder

Capital One Platinum Mastercard is a great option for beginners who are looking to establish credit.

With no annual fee and a relatively low entry barrier (500–600 FICO), this card offers a solid foundation for building a credit history.

What credit score do you need for a Capital One Platinum card? Typically, it’s a fair credit score of 500 to 600 FICO.

You can check if you qualify for the card without a hard pull on your credit report.

There are quite a lot of Capital One Platinum card benefits, although the card doesn’t offer any rewards or bonus programs.

Low entry barrier

The Capital One Platinum card welcomes those with fair credit—500–600.

Good for building credit

Think of this card as your credit score’s personal trainer, helping you flex your financial muscles and build a stronger credit profile.

No annual fee

Who doesn’t love freebies? This card keeps your wallet happy with zero annual fees to worry about.

No foreign transaction fee

Capital One Platinum card won’t charge you extra for making purchases abroad.

Credit limit increase after 6 on-time payments

It’s like a mini-promotion for your credit card. Make six on-time payments, and you could see a boost in your credit limit.

Access to CreditWise to monitor credit score

You can keep an eye on your credit score with the help of CreditWise for free. That way, you’ll always be on top of your financial situation—and once your score is higher, you’ll be able to choose a card with additional benefits (like a rewards program).

24-hour travel assistance services

Lost your card while globetrotting? The Capital One Platinum card has your back with round-the-clock travel assistance.

Fraud coverage and alerts

Capital One provides you with fraud coverage and alerting you to any suspicious activity.

High interest rate

Capital One Platinum Mastercard® has a high APR of 29.99%.

The table below shows an example of how long it would take you to pay off $10,000:

Learn exactly how much and for how long you’d need to pay off your credit card by downloading our free Credit Card Payoff Calculator.

No cashback or rewards program

Capital One Platinum credit card cash back isn’t available.

The highest credit limit for Capital One Platinum Mastercard will depend on individual creditworthiness and financial situation. For the secured option, it’s $1,000.

Capital One Platinum card customer service has received mixed reviews from customers.

Good news is some cardholders have praised the customer service for being helpful, friendly, and responsive. They appreciate the ease of access to customer support through the Capital One mobile app, online chat, and 24/7 phone assistance.

The bad news is the usual—there are customers who complain about long wait times, difficulty in resolving issues, and occasional unhelpful representatives.

According to Credit Karma, the Capital One Platinum card has a customer service rating of 4.4 out of 5 stars based on almost 500 reviews.

Yes, you can withdraw cash from a Capital One Platinum credit card—but it’s subject to fees and interest rates.

Yes, you can use the Capital One Platinum to withdraw cash.

Both Platinum and QuicksilverOne cards are issued by Capital One. You can get your hands on them if you have at least fair credit score (500–600).

(If you’re not sure what’s your score right now, you can easily check it here.)

The biggest difference between the cards is that the Capital One Platinum card is free but comes with no rewards program.

QuicksilverOne‌ has an annual fee of $39 and a cash back on every purchase—1.5%, to be exact.

The Capital One Platinum card focuses on helping those with fair credit scores build their credit, offering no annual fee and no foreign transaction fees.

On the other hand, the Discover It Cash Back card is designed for users with good credit scores who want to maximize cashback rewards through rotating bonus categories, also with no annual fee.

You can earn up to 5% on purchases and at the end of your first year using the card, you get cashback match—one dollar for every dollar earned.

So, Discover It card is a good next step after you improve your credit score using the Capital One Platinum responsibly.

Tim Doman, an investment analyst and CEO of TopMobileBanks, lists these things as crucial to build a better credit score and upgrade to a better credit card:

Payment history makes up 35% of your credit score, so make sure you make all of your payments on time. Another factor is the amount of debt you have. Credit utilization ratio makes up 30% of your credit score—always remember to keep it below 30%.

Other factors that can delay your credit-building efforts include applying for too much credit at once, having a short credit history and a high number of derogatory marks on your credit report, such as bankruptcies or collections.

The Venture card is designed for those with good to excellent credit scores who love to travel and want to earn rewards doing so.

It offers 1.25–5 miles per dollar spent on purchases without any annual or foreign transaction fees.

In contrast, the Capital One Platinum card is tailored for those with fair credit scores who want to build or improve their credit history.

It doesn’t offer any rewards or sign-up bonuses, but it’s a good credit-building card. After some time of responsibly using it, you can upgrade to the Capital One Venture card.

• Chime Credit Card Review: Top Secured Credit Builder Option

• Self Visa® Credit Card Review (Is It a Good Credit Builder?)

• Capital One QuicksilverOne Review: Rewards & Credit Scores

• Capital One Platinum vs. Quicksilver

Capital One Platinum card customer service can be reached 24/7 through their phone line (1-877-383-4802), mail or online chat feature.

They also offer a mobile app for easy access to account information and customer service.

Download the Capital One Mobile app on Google Play or App Store.

Apply for the credit card Capital One Platinum on the issuer’s website.

To activate your new Capital One Mastercard Platinum, visit the issuer’s website.

Login or sign up to your Capital One account here.