Capital One Classic Platinum Credit Card Review

The very first credit card I ever owned was the Capital One® Classic Platinum Credit Card, and here I am 8 years later, still pulling it out of my wallet from time to time.  Designed for cardholders with limited to average credit (which is exactly what I had after taking out a plethora of student loans) this card is simple and straightforward to understand.  You won’t find any bells and whistles here, but when you’re looking to improve your credit, you don’t want to make any noise.

The Capital One® Classic Platinum Credit Card offers a 0% intro APR on purchases until November 2014 and carries a 22.9$ variable APR after that.  Beyond these incentives, Capital One does not charge a foreign transaction fee, so international purchases can be made free of additional charges.

This is about where the buck stops though, and anyone considering an application for the Capital One® Classic Platinum Credit Card should understand that this is not a rewards credit card and it is to be used only as a method to rebuild your credit.  A responsible credit card user will always pay their bills on time and most will pay them in full each and every month.  If you can accomplish this with this card for an extended period of time, it might be time to upgrade to a Capital One rewards credit card.

An annual fee of $39 is charged on the Capital One® Classic Platinum Credit Card and all cardholders will receive additional benefits:

Rather than take your chances with an expensive secured credit card or a fee driven prepaid credit card, consider an unsecured line of credit with the Capital One® Classic Platinum Credit Card.

Topics: Credit Cards

One Response to “Capital One Classic Platinum Credit Card Review”

  1. Larry Copling

    Thanks for the tip on Capital One credit card! I went through a divorce this past year and my credit strength has taken a real hit. However, when I applied (expecting to be turned down), I was approved! This will help me get started back on the road to 700 scores!

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