Capital One Platinum Prestige Credit Card Review

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Review of: Capital One® Platinum Prestige Credit Card

Reviewed by:
Rating:
4.5
On June 29, 2011
Last modified:February 28, 2014

Summary:

An excellent balance transfer card, offering a 0% introductory rate and no annual fee.

When my wife and I were paying off our credit card debt, 0% balance transfer credit cards helped us a lot.  We not only saved money by paying no interest, we paid off our debt much faster.  And we’ve managed to stay out of debt, too.  If you are looking for a low interest credit card to help manage your debt, the Capital One® Platinum Prestige Credit Card should be high on your list.

0% Introductory APR

The card offers a 0% intro APR on balance transfers until until May 2015. Depending on how much you transfer to the card and your current interest rate, the savings could be substantial.  It is important to remember that Capital One will charge a balance transfer fee equal to 3% of the amount transferred.

Unlike many balance transfer cards, however, the Capital One® Platinum Prestige Credit Card also offers a 0% intro APR on purchases until until May 2015.  This means that any purchase made with your new card will not carry interest until the introductory rate expires, potentially saving you hundreds of dollars in interest payments.  This can be good way to handle unexpected expenses if your emergency fund isn’t sufficient.  And unlike balance transfers, there are no fees associated with making purchases with this introductory offer.

Now, because this card carries with it a great introductory offer, you won’t find a rewards program with the Capital One® Platinum Prestige Credit Card.  You also won’t find an annual fee, and if you need to make international purchases, there’s no foreign transaction fees charged, either.

Platinum MasterCard Benefits

As a Platinum MasterCard®, you also get extensive travel, insurance, and retail protection services.  For example, when you use the card to rent a car for fifteen (15) consecutive days or less, you may be eligible for MasterRental® Insurance.  Subject to the terms and conditions of the program, you may be able to double the manufacturer’s warranty up to 12 months through the extended warranty coverage.  And the card even offers roadside assistance through the Master RoadAssist Service.  Here’s a quick summary of these benefits:

  • Travel accident insurance
  • Extended warranty program
  • Auto rental insurance—use your card to rent a car and you’re covered for collision, damage and loss
  • No foreign transaction fees

Capital One® Platinum Prestige Credit Card Summary

  • Transfer a balance for 0% intro APR until May 2015
  • Get 0% intro APR on all purchases until May 2015
  • Enjoy no annual fee
  • Get peace of mind with fraud coverage if your card is lost or stolen
  • Enjoy extended warranty protection on eligible items purchased with your card
  • Fast and easy access, 24/7
  • Rent a car using your card and get collision, damage, and loss insurance
  • Feel secure with 24-hour roadside assistance
Published or Updated: February 28, 2014
About Rob Berger

Rob founded the Dough Roller in 2007. A litigation attorney in the securities industry, he lives in Northern Virginia with his wife, their two teenagers, and the family mascot, a shih tzu named Sophie.

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