All about the Platinum Mastercard from Capital One
August 17, 2023 7 min read
Whether you’re looking for your first card or rebuilding your credit, applying for a credit card is a big decision. The next step is finding a card with the features you want and the flexibility to make daily life a little less stressful. That’s where the Platinum Mastercard® from Capital One could come in.
When used responsibly, a card like this could be a good choice to continue building your financial future. It has many features that can help make the day-to-day a little more manageable.
Read on for all you need to know about the Platinum Mastercard from Capital One.
- With responsible use, the Platinum Mastercard from Capital One can help those who are building or rebuilding their credit.
- The Platinum Mastercard comes with a $0 annual fee and doesn’t require a security deposit. View important rates and disclosures.
- Platinum Mastercard cardholders are automatically considered for a credit limit increase in as little as six months.
- You can quickly see if you’re pre-approved for the Platinum Mastercard—as well as some of Capital One’s other cards—with no harm to your credit.
Platinum Mastercard benefits
There are a number of benefits that come with the Platinum Mastercard:
You don’t pay an annual fee
You may qualify for a credit limit increase quickly
With the Capital One Platinum Mastercard, you’ll automatically be considered for a credit limit increase in as little as six months. And unlike a Platinum Secured Credit Card, there is no security deposit. Capital One will review your account and notify you if you’ve been approved for a higher credit limit.
As you grow financially, consider choosing a credit card that has benefits that can grow with you. Using your card responsibly could increase your chances of getting a credit line increase.
You can tap to pay at checkout
Want to pay at checkout up to 10 times faster, and without having to hand your card to a cashier? The Platinum Mastercard is contactless. Simply hold or tap your card on a contactless-enabled reader, wait for the confirmation and you’re all set. Wondering how to tell if your card or the merchant terminal is contactless? Look for the symbol—it’s those four curved lines.
Simplicity, speed, security and touch-free safety are just a few of the benefits of having a contactless credit card.
You won’t pay foreign transaction fees
With the Platinum Mastercard from Capital One, you don’t have to pay foreign transaction fees when you use your card outside of the United States.
Your credit activity will be reported to the three major credit bureaus
Not all credit card companies report credit activity to the three major credit bureaus—Equifax®, Experian® and TransUnion®. However, Capital One does. And that can help you build credit—as long as you use your card responsibly.
These companies gather information on credit history and activity, among other things, to generate credit reports. And the information in your reports can help credit-scoring companies like FICO® and VantageScore® generate your credit scores.
Manage your Platinum Mastercard account
Capital One offers a number of tools to help you manage your Platinum Mastercard account, wherever you are:
Eno, your Capital One assistant
Eno looks out for you and your money around the clock, reaches out if it spots something unusual and helps you fix it. That includes monitoring your transactions and notifying you when Eno finds unusual account activity like duplicate charges. Eno also lets you keep your actual card number private when shopping online. When you add Eno to your browser, you can pay with a virtual card number instead of your actual Platinum Mastercard number.1
Capital One Mobile app
No matter how busy you get, you can manage your Platinum Mastercard account anywhere, anytime with the Capital One Mobile app. You can pay your bill, view your balance and transactions, and more.
CreditWise from Capital One
CreditWise from Capital One is a free credit-monitoring tool that can help you keep a close eye on your credit. It’s free for everyone, even if you’re not a Capital One cardholder. With CreditWise, you can discover key factors that may impact your VantageScore® 3.0 credit score, get alerts when something meaningful changes on your TransUnion and Experian credit reports, and more. And don’t worry—checking your credit report won’t hurt your credit score.2
Instant purchase notifications
Keep track of your spending in real time. You can get alerts the moment your card is approved for a new purchase. Plus, you can set up alerts to notify you about your balance and recurring payments.3
Flexible payment dates
Do you have your monthly budget carefully planned out? No worries. Pick a monthly due date for your bill that works best for you.
When you’re keeping track of what seems like a hundred things, throwing in another date to remember can feel overwhelming. If you don’t want to worry about manually paying your credit card bill each month, you can set up AutoPay for your account.
Help protect your Platinum Mastercard account from fraud
Scammers are almost always working overtime. But Capital One credit cards have security features that can help you detect potential fraud:
$0 fraud liability for unauthorized charges
If your card is lost or stolen, you won’t be responsible for charges you didn’t authorize.4
If your card is ever lost or stolen, you can prevent anyone else from using your Platinum Mastercard. With just a few taps, you can easily lock your card from use. This can also be helpful if you misplace your card. And if you find your card or want to use it again, you can unlock it just as easily.5
It only takes a few taps for you to help stop fraudulent activity in its tracks. When you add your phone number to your account, you’ll automatically get alerts if Capital One notices potentially suspicious activity on your account.
Capital One Shopping
Hunting down the best price for something eats up a lot of time. Capital One Shopping is a free browser extension that automatically scans the internet for coupon codes to help you find the best price available. Capital One Shopping is free and easy, and you don’t even have to be a Capital One customer to use it.6
Platinum Mastercard from Capital One FAQs
Here are a few of the most commonly asked questions about the Capital One Platinum Mastercard:
Is it hard to get a Capital One Platinum Mastercard?
The Capital One Platinum Mastercard is geared toward people with fair or average credit scores and those who are either just starting out or wanting to rebuild their credit. Curious if you could qualify for the Platinum Mastercard from Capital One? You can see if you’re pre-approved online today—without hurting your credit scores.
Does the Capital One Platinum Mastercard offer cash back?
Will this card be a good one for me if I have a bad credit score?
Is the Platinum Mastercard a good fit if I have a good credit score?
The Platinum Mastercard is designed for applicants with at least a fair credit score. If you’ve already established a good credit score, it may be worth looking into cards that have additional rewards, such as cash back. For example, the Capital One QuicksilverOne Cash Rewards credit card offers 1.5% cash back on every purchase, every day.
Can I use the Platinum Mastercard from Capital One for a cash advance?
Can I do balance transfers to the Capital One Platinum Mastercard?
The Capital One Platinum Mastercard in a nutshell
The Platinum Mastercard from Capital One is geared toward people with fair or average credit scores and those who are either just starting out or wanting to rebuild their credit. It comes with a $0 annual fee and doesn’t require a security deposit. View important rates and disclosures. And Platinum Mastercard cardholders are automatically considered for a credit limit increase in as little as six months.