3.3
110 reviews
Other Credit Cards:
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Rewards Credit Cards
Capital One - Platinum MasterCard

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Capital One - Platinum MasterCard
 
3.3

(based on 110 reviews)

Ratings Distribution

  • 5 Stars

     

    (30)

  • 4 Stars

     

    (28)

  • 3 Stars

     

    (18)

  • 2 Stars

     

    (11)

  • 1 Stars

     

    (23)

65%

of respondents would recommend this to a friend.

Pros

No Pros

Cons

No Cons

Best Uses

No Best Uses
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Most Liked Positive Review

 

Capital One Platinum Rewards is good for rebuilding credit.

I was in great need of rebuilding my credit, I had a small business that went under and left me with a lot of debt.  After trying to pay everything I sunk...Read complete review

I was in great need of rebuilding my credit, I had a small business that went under and left me with a lot of debt.  After trying to pay everything I sunk even further and I will admit had no real choice left except to file bankruptcy.  After it was discharged I knew that I needed to rebuild my credit.  I still had a student loan but I needed revolving credit to rebuild my credit score.  Capital One was the first "preapproved" offer that I received that didn't charge a lot of fees.  There is an annual fee which varies per card but I have never seen one over $50.  I love that Capital One was willing to take a chance on me (and yes I did file on one of their cards in my bankruptcy.)  I started with a small limit but was automatically enrolled in credit steps.  Credit Steps is a Capital One program that allows you to increase your credit limit when you show you're responsible with the card.  After you use the card and pay on it for 3 months they increase your credit limit and it can increase again after the 7th month.  This is a great help for rebuilding credit.  My card also enrolled me in No Hassle Rewards which allows me to earn a small amount of cashback.  I use my card solely for the grocery store and gas which I earn 2% cashback on and I pay on my card using their online payment system often.  I not only pay it off in full each month but I pay most of what I've charged that same week.  So while it has a high interest rate (which is the only kind you can get after bankruptcy), it doesn't matter to me because I have no intention of paying interest.  I always utilize the interest free grace period when you charge an item.  I highly recommend the Capital One Platinum No Hassle Rewards Card especially if you need to rebuild your credit.

VS

Most Liked Negative Review

 

Capital One is untrustworthy.

Capital One Platinum uses unfair trade practices in dealing with interest rates.  I was at a low 2.3% interest rate and received a notification stating that the interest rate would be increased to...Read complete review

Capital One Platinum uses unfair trade practices in dealing with interest rates.  I was at a low 2.3% interest rate and received a notification stating that the interest rate would be increased to 9.9%.  The notification stated that I had the option to cancel the card and keep the low interest rate to pay off the balance or keep the card with the higher interest rate.  The notification stated that I had until 04/17/09 to notify them of my decision.  I called the number in the notification to cancel the card. Capital One was to have cancelled the card effective 05/17/09.  I called Capital One to verify that the card was cancelled and was told that everything was taken care of.  I was extremely shocked to receive my bill in June showing that the card was not cancelled and that I was being charged the higher interest rate.  I called and email Capital One and they refuse to uphold their offer to cancel the card and allow me to pay off the balance with the lower interest rate stating that it was too late to make the change now. I have stated to them several times that I called Capital One and did everything that was stated in their letter to me prior to 04/17/09 but am getting nothing but the run around with them.  Of course, now I have paid off the balance on the card because they are aware that I will not risk my excellent credit score because of their lack of integrity.  I will not do any business with Capital One again!!!!!

Reviewed by 110 customers

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4.0

Great for Beginners

By 

from USA

Comments about Capital One - Platinum MasterCard:

I am constantly worrying about how to improve my credit score and what will or will not hurt it. I decided it was time to get a credit card to help build my credit history. I am fairly young and my first account was opened at 18 so that was dragging my credit score down based on my age. Not fair. So I opened a Capital One credit card just to give myself that boost. I was very surprised when they offered me a credit limit of $1000 on my very first credit card. Also, after 6 or so months of on-time payments, you are eligible for a higher credit limit. I think this card is perfect for a young adult looking to get their credit score started as this card has a fairly low credit limit overall. To go $2000 or $3000 in to debt is much better than $10000+ in debt at that age. Capital One also offers their own online credit tracker which I have yet to use, because I have my own source, but I think it would come in handy for others who don't already have means of monitoring their credit scores.

(4 of 4 customers found this review helpful)

 
4.0

A good starter card for 600 scores.

By 

from USA

Comments about Capital One - Platinum MasterCard:

My 1st card ever. It has about 7.99% apr, and I pay the balance in full or close to it each month. They raised me from $200 to $500 in 1st year. It has no rewards though. I suggest you try Cap 1 Visa Journey Card if around 600 score and want rewards. They give 1%. This card could eventually be upgraded to Quicksilver which gives 1.5% rewards, but it is harder to get.

Customer Service
I use the app or website mostly but the online chat interface has been useful when needing to speak to someone. The phone interface is ok & customer service has been helpful so far. I've had the card about 3 years.

Available Rates
I think 7.99% for my 1st card ever is awesome. The cash advance rate is much higher, & is around 24% I think? Also, the late fee & annual fee charge is $35. Not too shabby when compared to others in this class. You can get this card as a secured card to start out. I was originally with Orchard Bank when Capital One bought them out.

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(1 of 1 customers found this review helpful)

 
5.0

Nice card, especially for balance transfers

By 

from USA

Comments about Capital One - Platinum MasterCard:

My main use of the this card was to take advantage of an 18 month, 0% interest rate on balance transfer offer. I consolidated some debt from other cards and promise myself I'd pay it down within a year and a half, and that was a lot easier with 0%. I never experienced any issues during this 0% period. Once I got my old debt paid off, I continued to use the card for a few things just to keep it active. I have a pretty good rate of 14%, but I've had the card for several years and I'm not sure what kind of rates they're currently offering.

Customer Service
Have always had a positive experience dealing with Capital One customer support! I recently had a fraud alert on my account, and though the customer service rep was obviously someone outsourced in a South Asian nation, they were clear and helpful and got my account settled quickly and efficiently.

Available Rates
This card has a really competitive rate - 14% for me. I think it's the lowest of all of my cards, and I have several!

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5.0

Great for credit rebuilding

By 

from USA

Comments about Capital One - Platinum MasterCard:

Capital One is one of the few willing to take a chance on me after a bankruptcy. The interest rate is high (19-23%) but there are no outrageous fees for having the card. They review your account and as long as you are making on-time payments and do not go over your limit, they will gradually increase your credit limits. They are also diligent with their fraud protection. I was contacted immediately at the hint of a fraudulent charge. They canceled my card and issued me a new one right away and I had no liability for the fraudulent charges. I can pay my bills online at anytime. I have more than one Capital One card but all can be linked so that I can maintain the balance and bill payments online. They are a godsend in helping me reestablish myself.

Customer Service
Whenever I have contacted customer service, they have always been more than pleasant, helpful and responded to my issues right away.

Available Rates
As with most products, the better your credit, the better your rate and the type of card you qualify for.

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(1 of 1 customers found this review helpful)

 
5.0

A Wonderful Start

By 

from USA

Comments about Capital One - Platinum MasterCard:

I have had this card for more years than I care to admit. It was my first card out of college and it served me well. This is not as "fancy" as the cards that I prefer now. This does not offer points and my credit limit on this card is very low. My limit is $500 and I think that is a very sensible limit for a "starter" credit card for college students. I am a huge advocate of smart credit use. This card makes that easy because the low credit limit can provide a system of checks and balances for credit newbies. I really did appreciate that Capital One gave me credit when I had no credit history and no other offers. I did not need to have a co-signer or anything either, which simplified things. I still have the card, but rarely use it due to the benefits of my Points based cards. Their online account services are more basic than some of my other cards, too. They used to let you choose from different card designs which was very fun. I am okay with their more classic look now, though. I also like that there are no fees for this card.

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(1 of 1 customers found this review helpful)

 
4.0

Some Pros and Cons of a Capital One Card

By 

from USA

Comments about Capital One - Platinum MasterCard:

In television commercials, Capital One credit cards are presented as being the "coolest" thing to have in your pocket. I love the commercials, can't say it's my favorite card to use, but it DOES have a good, stellar reputation worthy of taking notice to.

Customer Service
My customer service interactions have been limited with Capital One, and are overall very good. When I forgot my card in my pants pocket and destroyed it in the washing machine, they were quick to handle getting a replacement card for me.

Available Rates
Of all the major credit cards I have, My Capital One Mastercard has the highest credit limit. It also has the highest interest rate. The tradeoff for frequent flyer miles isn't worth the expense of added interest for me personally. It's a case where one thing doesn't justify the other. I'm not suggesting that their card and frequent flyer miles might work differently and great for some. It just doesn't mesh out for me.
With that being said, I like keeping my card and using it on occasion because i know this is a reputable business I can trust to handle any issue I might have with credit purchases. That is something very valuable to me regardless of the available rates they might apply to my account.

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(2 of 2 customers found this review helpful)

 
2.0

Easiest credit card to get.

By 

from Elko, Nevada

Comments about Capital One - Platinum MasterCard:

If you are young and have no credit, or if you have had credit problems, this is probably the easier credit card for anyone to get. I had this credit card from when I turned 18 until last year when I turned 26. I had paid it off completely and had not used it in a couple of months because it had a high APR and I had different credit cards with better rates and I called Capital One and they would not lower my rate for me, so I was simply going to keep this card as an emergency only card. I got a letter in the mail after not using it for 90 days saying they were raising my APR and lowering my limit because I was not using it. I do not feel that I needed this card anymore so I just stopped using it all together, cut it up, and after a year I got a letter saying they closed the account for me not using it. I felt like from a customer service standpoint that they did poorly because they would not work to lower my rate even with my excellent credit score and no late payments in 8 years. I would only recommend this if you do not mind paying a lot in interest and you absolutely can not get another type of credit card.

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4.0

Great value!

By 

from USA

Comments about Capital One - Platinum MasterCard:

I ran into a little bit of a credit issue when I lost my job and had a missed payment from 5 years ago negatively affect my credit, making it difficult for me to get approved for a credit card. i applied for this card as a last resort knowing that Capitol One usually accepts people with not the best or no credit at all. At the time they had a balance transfer offer for 0.00% interest for 18 months and because I had a high balance from Discover that was taking forever to pay off, I signed up. Capitol One was the only card I applied to that actually took my bad situation into consideration before just flat out denying my application. They sent me a letter asking me to prove my income since I lost my job and had high amounts of debt (understandably), and a few days later I was sent the card and a letter letting me know that I had been approved for a higher balance than I applied for, which in my opinion is great.

I actually talked to a customers service rep at Capitol One today because with so many Capitol One Platinum card offers at Capitol One I wasn't sure which card I had and which features were associated with it. When he confirmed that I had 0.00% interest for 16 months, no annual fee and insurance options (fraud liability, included trip insurance, rent a car service, etc), I felt great. I have other credit cards and this has been my first one with Capitol One, but so far I'm really enjoying their service and their product.

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(3 of 3 customers found this review helpful)

 
5.0

Best credit card ever.

By 

from USA

Comments about Capital One - Platinum MasterCard:

This was my very first card I've ever gotten. My limit was at the time $500 enough to get me started on my credit score. I charged a small bill like my cell phone and paid it off once the bill came in. It's very simple to also connect your bank information as a payment online. With few clicks i can pay off my balance in seconds. I never had any kind of issue with my card.

Customer Service
Capital One's costumer service is the best. They get everything done in a timely fashion and answer all your questions in a professional way. I've used the chat now help window online and it worked flawless each time. Each costumer service rep is very well trained and they know what they are doing. If you don't believe me then go ahead and use it. They will ask you few questions to make sure you're the owner but after wards it's like sailing through the sea. So easy and pleasant.

Available Rates
They have decent rates. If you're referring to the APR you can always call them back in a year or two and ask them to lower it. If that doesn't work call back in six months and speak to a manager in charge they will help you if the person who's assisting you wont.

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(1 of 2 customers found this review helpful)

 
4.0

Great if you you have horrible credit and you want to improve.

By 

from USA

Comments about Capital One - Platinum MasterCard:

This credit card is for someone that has very very poor credit and is trying to redeem themselves credit-wise.

Customer Service
Customer service has always been helpful to me since day one. I don't care what country you are in, if you can resolve my issue quickly, then that is good customer service in my opinion. There have been plenty of times where I was not able to pay my bill on the exact due date and they were always there to help me. Or even if I forgot to pay my bill and was charge a late fee, all I had to do was call them and they would waive the fee for me. Sometimes life gets in the way and they realize that, unlike other credit card providers and banks that I have worked with in the past.

Available Rates
They do not have a wide range of available rates. My rate has stayed the same ever since I've been with them, even though my credit score has improved significantly. One thing is, it's not automatic, you have to ask for a better rate.

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