Most businesses across the globe are shifting to a cashless method of transaction. A similar trend is being observed among the diverse customer base as well. Therefore, possessing a credit card has become an absolute necessity.
One of the dilemmas that most customers encounter is to choose the best-suited credit card for their use. Mostly, they prefer opting for a trustworthy bank, such as Capital One, which has a reputation for its customer-friendly policies and services.
If you are scouting for a credit card from that you can derive a myriad of benefits without any annual fees, then the Capital One Platinum Credit Card is a great option for you. Read on to learn about this card, and how you can apply for it.
Features of the Card
The Capital One Platinum Credit Card has exciting features and benefits that cater to the diverse requirements of its target customers. Check out some of the key features below.
Automatic Credit Line Reviews
Waiting for a higher credit line is a tedious and time-consuming task. However, possessing a Capital One Platinum Credit Card empowers you to automatically be considered for a higher credit line in less than six months.
CreditWise is an exclusive service offered by Capital One that gives you exclusive access to tools that will help you monitor your credit profile. The benefits of this service have been extended to non-customers of Capital One products as well.
You would be thrilled to know that if your card is lost or stolen, it is covered under a $0 Fraud Liability. This implies that you would not be responsible for fraudulent purchases.
Tap to Pay Feature
Given the existing situation of social distancing and contactless transactions, the tap to pay feature is extremely handy. This helps you to make quicker transactions by simply tapping your card on a contactless card reader.
No Foreign Transaction Fees
If you frequently travel internationally, then this is the best-suited card for you. There are no additional transaction charges that you will have to bear while making purchases outside the United States.
It is imperative that you meet the following eligibility criteria to avoid any risks of your application getting rejected.
You must be over the age of 18, and you must be a permanent resident of the U.S. You must also have a bank account, and you must not have declared bankruptcy or insolvency.
For more specific information on eligibility, check out the list of eligibility requirements on Capital One’s website
How to Apply for a Capital One Platinum Credit Card
Capital One Bank has a designated user-friendly web portal to assist potential customers in their online application process to obtain the Platinum Credit Card. On the Capital One website, you will find an Apply Now option. Click on this tab to initiate the application process.
First, you will come across a box highlighting the main features of the card. Go through that carefully, and then proceed further to provide your personal details. Thereafter, you will have to provide your contact details and correspondence address.
Once you are through with these two sections, you will move on to the third section wherein you will fill in your financial details. Here, you will have to mention your employment status, annual income, monthly rent amounts, and bank account details.
Finally, you will be presented with several important documents and the disclosure form that you need to read carefully. Then, click on Continue for further verification and eligibility check.
Interest Rates and Fees
The Capital One Platinum Credit Card is a great option if you are looking for a new credit card that has tons of great benefits and perks. However, it is also important to consider the rates and fees of the Capital One. For example, the minimum credit limit a cardholder can receive with this card is $300.
- APR for purchases and transfers: 26.49%
- APR for cash advances: 26.49%
- No annual fee
- No transfer fee
- Cash advance fee: $10 or 3% of the amount of the amount taken, whichever is greater
- Late payment fee: up to $40
- Minimum payment (if balance is over $25): $25 or 1% of your balance, plus new interest and late payment fees
If you would like to get in contact with a Capital One representative, you can reach their credit card support lines by calling 1 (800) 227-4825.
Their head address is Capital One Financial Corp, 1680 Capital One Drive, McLean, VA 22102-3491.
The Capital One Platinum Credit Card is an excellent choice for individuals who have a fair credit score and are not too concerned about the rewards plans.
If you think this credit card could suit your financial needs, head to the Capital One website and see if you qualify today.
Disclaimer: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page before signing any contracts.