Is Capital One Platinum a good credit card?
Snapshot. The Capital One Platinum Credit Card is a solid choice for people looking to build credit. You won't earn rewards or have access to many perks, but it will help you learn to manage your credit effectively.
Capital One Platinum Review: A Good Card for Average Credit. A straightforward card for folks on the way up: It charges no annual fee and offers the opportunity to boost your credit limit with responsible behavior. Many or all of the products featured here are from our partners who compensate us.
You'll have a good chance of being approved if you have a steady income, an SSN or taxpayer ID, and either no credit score or a score of 640+, among others. Keep in mind that even though it's not hard to get the Capital One Platinum Credit Card (see Rates & Fees), you're still not guaranteed to be approved.
The credit score that you need for the Capital One Platinum Credit Card is at least 640, which is usually considered fair credit. The Capital One Platinum Credit Card is also available to people with limited credit history, which means you may be able to get approved even without a credit score.
- Best for students: Discover it® Student Cash Back.
- Best for no annual fee: Citi Double Cash® Card.
- Best secured credit card: Discover it® Secured Credit Card.
- Best for cash back: U.S. Bank Cash+® Visa® Secured Card.
- Best for no credit: Petal® 2 “Cash Back, No Fees” Visa® Credit Card.
The Capital One Platinum credit limit can be as high as $3,000 according to online cardholder reports, but it will depend entirely on the specifics of each applicant's credit and their overall financial situation. Most cardholders get credit limits of at least $300, though.
Capital One Venture X Rewards Credit Card
A rating of 5 is the best a card can receive. Why it's one of the hardest credit cards to get: The Capital One Venture X Rewards Credit Card is hard to get because it requires excellent credit for approval and charges an annual fee of $395. You get a lot in return, though.
THE WINNER. Capital One Quicksilver is better than Capital One Platinum because it offers attractive rewards and a 0% introductory APR. Capital One Platinum doesn't offer low introductory rates or any kind of rewards – just the ability to build credit without paying an annual fee.
The Platinum Mastercard® from Capital One
Pay no hidden fees and automatically be considered for a higher credit line in as little as 6 months.
The Capital One Platinum Credit Card will increase your credit limit no more than once every six months generally. This time frame applies whether you request a credit limit increase yourself or wait for Capital One to offer you an automatic increase.
Can I upgrade my Capital One Platinum to Quicksilver?
Yes, you can upgrade from Capital One Platinum (see Rates & Fees) to the Capital One Quicksilver Cash Rewards Credit Card (see Rates & Fees). You can do so either with an offer from Capital One through your online account or by calling the number you see on the back of your card.
Use a secured credit card
This type of card is backed by a cash deposit. You pay it upfront and the deposit amount is usually the same as your credit limit. Then, you use it like a normal credit card, and your on-time payments help build your credit.
Earning Rewards
The Capital One Platinum does not offer rewards, but the Capital One Quicksilver provides cardholders the ability to earn 1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel.
The best credit card overall is the Wells Fargo Active Cash® Card because it gives 2% cash rewards on all purchases and has a $0 annual fee. For comparison purposes, the average cash rewards card in 2024 gives about 1% back.
A credit score of 700 or better is typically needed for a card that offers a $5,000 credit limit. This means that these cards usually require you to have good or excellent credit. You will normally need a high income and little to no existing debt to get a limit that high, too.
First Progress Platinum Elite Secured Mastercard: The First Progress Platinum Elite Secured Mastercard requires no credit history or minimum credit score for approval. Your security deposit is refundable, and the card is accepted nationwide.
According to anecdotal reports, the card's credit limit can be as low as $750 and as high as $10,000. However, Capital One does not list a minimum or maximum credit limit in the card's terms and conditions. If you want to aim for a higher credit limit, there are a number of areas...
While you won't find rewards or many perks with the Capital One Platinum credit card, it's a decent card for building or rebuilding your credit score without distractions. It comes with no annual fee, and Capital One automatically reviews your account for a credit line increase after six months.
The average credit limit for members who have matched with similar cards is $13,202, with $5,000 being the most common. The Platinum Card® from American Express does not have a traditional credit limit and was compared to similar premium cards.
What is the most prestigious credit card? One of the world's most prestigious credit cards is the Centurion® Card from American Express*. Though there may be other cards with more elaborate benefits, those cards are kept well under wraps.
What is better Quicksilver or SavorOne?
Is the Capital One SavorOne better than Quicksilver? Overall, these cards are a close match. However, SavorOne offers slightly better cash-back rewards. Because the higher rewards are earned, in part, on groceries and dining, the SavorOne is likely to generate more rewards for almost anyone than the Quicksilver card.
What Credit Card Do the Super Rich Use? The super rich use a variety of different credit cards, many of which have strict requirements to obtain, such as invitation only or a high minimum net worth. Such cards include the American Express Centurion (Black Card) and the JP Morgan Chase Reserve.
Carmen Peters, Member. The Capital One Quicksilver credit limit depends on your income, creditworthiness and payment history, which are evaluated once you apply for the card. According to anecdotal reports, the card's credit limit can be as low as $750 and as high as $10,000.
- Capital One Venture X Rewards Credit Card: Best premium travel card.
- Capital One Venture Rewards Credit Card: Best for earning travel rewards with a low annual fee.
- Capital One VentureOne Rewards Credit Card: Best for fee-conscious travel rewards.
Owning more than two or three credit cards can become unmanageable for many people. However, your credit needs and financial situation are unique, so there's no hard and fast rule about how many credit cards are too many. The important thing is to make sure that you use your credit cards responsibly.
