Platinum Credit Card from Capital One 2024 review: A palatable option for people with fair credit

The Capital One Platinum Credit Card * The information for the Capital One Platinum Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. is available to people who are new to building credit or have a fair credit score.

Platinum Credit Card from Capital One basics

• Annual fee: $0.
• Welcome bonus: None.
• Rewards: None.
• APR: 29.99% variable APR for purchases and balance transfers.
• Balance transfer fee (if any): $0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you.
• Other perks and benefits: No foreign transaction fees. Automatically considered for a higher credit line starting at six months.
• Does it report to all three credit bureaus? Yes.
• Does the issuer offer a preapproval tool? Yes.
• Recommended credit score Fair or better.

About the Platinum Credit Card from Capital One

If you’re early on your credit building (or rebuilding) journey, Capital One’s Platinum Credit Card is a good, no-frills credit card designed for people with fair credit. The card has no annual fee and Capital One reports your account activity to the three major credit bureaus every month, which will help with building your credit history, as long as your payments are on time. 

After six months, Capital One will also automatically review your account for a potential credit limit increase. Beyond credit building, the Platinum Credit Card does not offer much in the way of perks or rewards and its APR is on the high end, although that’s not uncommon for a card accessible to those with fair credit. However, there are cards available for those with just so-so credit that offer rewards or other perks too, making the Platinum Credit Card a just fair choice among the options in this category.

Pros

• No annual fee.
• No foreign transaction fees.
• Automatically considered for a higher credit line in six months. 
• Activity reported to all three major credit bureaus.

Platinum Credit Card from Capital One cons

• High APR.
• No rewards.
• No meaningful benefits aside from building credit.

Platinum Credit Card from Capital One APR

Capital One charges an interest rate of variable APR, both for purchases and balance transfers. This is above average and means carrying a balance is an expensive endeavor.

How the Platinum Credit Card from Capital One compares to other cards for fair credit

Platinum Credit Card from Capital One vs. Capital One QuicksilverOne Cash Rewards Credit Card * The information for the Capital One QuicksilverOne Cash Rewards Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

The Capital One QuicksilverOne Cash Rewards Credit Card * The information for the Capital One QuicksilverOne Cash Rewards Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. is a great option for people with fair credit since it earns rewards on your spending of 1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel. However, it also comes with an annual fee of $39 and, like the Platinum, a similarly high APR of 29.99% variable APR on purchases and balance transfers. To make up for that annual fee, cardholders would need to spend at least $2,600 annually to break even.

The card does offer an additional benefit of up to six months of a complimentary Uber One membership (through 11/14/2024). If you can earn enough in rewards to make up for the annual fee, the QuicksilverOne is a better choice then the Platinum Credit Card.

Platinum Credit Card from Capital One vs. Secured Chime® Credit Builder Visa® Credit Card

For applicants that have thin credit files or simply want a little more help to improve their credit, consider a card like the Secured Chime® Credit Builder Visa® Credit Card. It has no annual fees, no interest fees¹ and no credit check is required to apply.

The catch? You have to have a Chime® Checking Account to qualify. While there’s no minimum security deposit requirement, you are required to put funds from your Chime checking account into your Credit Builder² secured account. Whatever amount you deposit will equal your credit limit. The Secured Chime® Credit Builder Visa® Credit Card is a low-risk option to grow your credit as you work to achieve your financial goals and may be a better option for those whose credit falls below the definition of fair.

Platinum Credit Card from Capital One vs. Citi Double Cash® Card * The information for the Citi Double Cash® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

Those with credit at the higher end of the fair range might qualify for one of the best flat-rate cash-back cards on the market. If you are aiming for a card to help you earn rewards simply, the Citi Double Cash is a great option. The Double Cash earns 2% cash back on purchases — 1% when purchases are made and another 1% when they’re paid off, plus, for a limited time, 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24 and there’s no annual fee. It also comes with a low intro offer of 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 19.24% to 29.24%. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed in the first four months. After that, the fee will be 5% of each transfer (minimum $5). If you can qualify, this card is a far superior choice to the Platinum Credit Card.

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Chase Freedom Unlimited®

BLUEPRINT RATING

Our ratings are based on specific use cases for each card. We compared this card to others in the same category and developed our rankings based on this criteria, along with our editorial input. Note that although we chose this card as the best in its category, the right card for you will depend on your own financial circumstances.

Apply Now

On Chase Bank USA, NA’s secure website

BLUEPRINT RATING

Our ratings are based on specific use cases for each card. We compared this card to others in the same category and developed our rankings based on this criteria, along with our editorial input. Note that although we chose this card as the best in its category, the right card for you will depend on your own financial circumstances.

Welcome bonus

Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That’s 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases.

Up to $300 cash back

Annual fee

$0

Regular APR

20.49% – 29.24% Variable

Credit score

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

(700 – 749) Good, Excellent

Earn 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1.5% cash back on all other purchases.

Editor’s take

Pros

• No annual fee.
• Introductory APR periods on purchases and balance transfers.
• Generous welcome bonus.

Cons

• Can’t transfer points to travel partners unless paired with another card.
• Charges foreign transaction fees.
• There’s a balance transfer fee.

The Chase Freedom Unlimited® charges no annual fee and comes with a robust rewards program, a generous welcome bonus and a useful list of benefits.

Card details

• INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) – worth up to $300 cash back!
• Enjoy 6.5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
• After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
• No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
• Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% – 29.24%.
• No annual fee – You won’t have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
• Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
• Member FDIC

Not sure about your credit standing? Here’s how to check your credit score.

Should you get the Platinum Credit Card from Capital One?

The Platinum Credit Card is accessible to those with fair credit and, since it doesn’t require a security deposit or charge an annual fee, it can be a helpful tool for those looking to build stronger credit. But there are other options aimed at those whose credit puts them in the “fair” category, and some come with richer perks and rewards than the Platinum Credit Card.

Platinum Credit Card from Capital One summary

Frequently asked questions (FAQs)

^{*The Secured Chime® Credit Builder Visa® Credit Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted}

^{¹Out of network ATM withdrawal and over the counter advance fees may apply. See here for details.}

^{²To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.}