Capital One Platinum Credit Card Review: Worth It?

Deals Points is part of an affiliate sales network and receives compensation for sending traffic to partner sites. Opinions and recommendations are ours alone. Terms apply to the offers. See our Advertising Disclosure for more information.

The Capital One Platinum Credit Card is a credit-builder card designed for people with fair credit.

It has no annual fees, foreign transaction fees, or complicated rewards structures. 

The card is also easy to get approved for, helping you establish a credit history or bounce back from having poor credit.  While you won’t get high credit limits, you’ll have a chance of increasing it after making on-time payments within 6 months.

This article will cover everything you need to know about this card to determine if you should add this card or a different card to your wallet. Let’s dive right in.

Capital One Platinum Credit Card
  • No Annual Fee
  • No Foreign Transaction Fees
  • Help build credit through responsible use.
  • Be automatically considered for a higher credit line in as little as 6 months.
Learn More

Welcome Bonus

The Capital One Platinum Card does not offer a welcome bonus. This is quite common for most credit-building cards – those that are targeted at first-time credit card holders and people with fair credit scores.

Earning Rewards

The Capital One Platinum Card does not offer a rewards program either, because it’s a basic credit card to help you build credit.

No Annual Fee

The Capital One Platinum has no annual fee, allowing you to build your credit without a yearly fee.

Card Benefits and Perks

The Capital One Platinum card might not feature a welcome bonus or a rewards program, but it does offer several other benefits.

No Foreign Transaction Fees

This card has no foreign transaction fees on purchases outside the U.S., which is helpful if you travel internationally to help you avoid paying a 3% fee on those international purchases.

Santorini Europe

Can Qualify with Fair or Average Credit

The Capital One Platinum card is perfect for individuals with fair or average credit. It’s basically a beginner credit card that can help build your credit history, so you can request for a credit limit increase or qualify more premium cards in the future.

Higher Credit Line Available in Six Months

The Capital One Platinum initially offers a low credit limit to its cardholders, but if you make your payments on time for six consecutive months, you may get a credit limit increase.

Remember, a credit limit increase can help improve your credit score significantly.

Capital One Mobile App

Capital One has an excellent mobile app that gives you easy access to your account any time, letting you keep track of your spending and manage your finances conveniently.

No Security Deposit

Most credit building cards come with opening fees or security deposits, but you won’t have to pay anything when applying for the Capital One Platinum card.

Free Credit Score Monitoring

Capital One offers a service known as CreditWise. This service allows you to monitor your credit score anytime and it’s completely free to use.

Pros and Cons


  • No annual fee

  • Higher credit limit available in six months

  • Can qualify with average credit

  • Free credit score monitoring


  • No welcome bonus

  • No rewards program

Alternatives to the Capital One Platinum

Now that you know about this credit card’s various benefits and pros and cons, it’s time to see its alternatives.

Each of these requires at least a “Good” credit score, which is generally above 670. 

Capital One VentureOne Rewards Credit Card

No Annual Fee
Capital One VentureOne Rewards Credit Card
  • bonus_miles_full
  • Unlimited 5x Miles on Hotels and Rental Cars Booked Via Capital One
  • Unlimited 1.25x Miles on All Other Purchases
  • Secondary Rental Car Insurance
  • Extended Warranty
  • No Annual Fee

Learn More Our Review

The Capital One VentureOne Rewards Credit Card is a no-annual-fee travel card, which allows cardmembers to earn unlimited 1.25X miles on every purchase, every day.

These miles can be used for travel purchases and are fully transferable to Capital One’s airline and hotel partners.

The VentureOne also offers nice benefits like no foreign transaction fees, rental car insurance, and extended warranty protection.

Chase Freedom Unlimited®

No Annual Fee


  • bonus_miles_full
  • 5% Cash Back on Travel Purchased Via Chase
  • 3% Cash Back at Restaurants and Drug Stores
  • 1.5% Cash Back on All Other Purchases
  • 0% Intro APR for 15 Months (After that, a reg_apr,reg_apr_type APR.)
  • Purchase Protection and Extended Warranty
  • No Annual Fee

Click Here to Learn How to Apply

The Chase Freedom Unlimited® (review) is a good no-annual fee credit card option that offers 5% cash back on travel booked through Chase Ultimate Rewards, 3% cash back at restaurants, takeout, eligible delivery services, and on drugstore purchases. Plus it offers 1.5% cash back on all other eligible purchases.

The card also offers nice benefits such as purchase protection, extended warranty, trip cancellation/interruption insurance, and secondary rental car insurance.

Is The Capital One Platinum Credit Card Worth It?

If you are in the market for your first credit card or are trying to build your credit score, the Capital One Platinum Card is a great option. You won’t have to pay f0r foreign transaction fees, annual fees, and security deposits, so you can save some money which can be used towards paying your debt instead.

However, one of the card’s best features is it allows you to increase your credit limit in only six months, which can help improve your credit or give you some good credit to start with.

Capital One Platinum Credit Card
  • No Annual Fee
  • No Foreign Transaction Fees
  • Help build credit through responsible use.
  • Be automatically considered for a higher credit line in as little as 6 months.
Learn More

Top offers from our partners
60,000 Points
Terms Apply
75,000 Bonus Miles
Terms Apply
100,000 Bonus Points
Terms Apply
100,000 Points
Terms Apply