All about the Capital One Platinum Mastercard
Whether you’re establishing or building your credit, applying for a credit card can be a big decision. The first step is finding a card that meets your needs. And if it comes with helpful benefits, that can be even better.
What you’ll learn:
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The Platinum Mastercard is for people with fair credit. If it’s used responsibly, by doing things like paying statements on time every month, it could help build credit.
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The Platinum Mastercard has no annual fee and doesn’t require a security deposit. View important rates and disclosures.
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Platinum Mastercard holders are automatically considered for a credit limit increase in as little as six months.
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The Platinum Mastercard can help you keep your money safe with features like security alerts and $0 fraud liability for unauthorized charges.
What is the Platinum Mastercard from Capital One?
The Capital One Platinum Mastercard is a credit card for people with fair credit.
If you’re establishing or building your credit, the card might help you get the credit you need. There’s no annual fee and no security deposit. View important rates and disclosures.
Is it hard to get a Platinum Mastercard from Capital One?
If you have fair credit, you may be eligible for the Platinum Mastercard. FICO® says a fair credit score is between 580 and 669. You can check whether you’re preapproved without hurting your credit scores.
And if you want to see where your credit stands in general, you could use CreditWise from Capital One. It’s a credit-monitoring tool that helps you monitor and track credit. Monitoring your credit with CreditWise is free and won’t hurt your credit scores. You can also request free copies of your credit reports by visiting AnnualCreditReport.com.
Capital One Platinum Mastercard benefits
Check out some of the benefits of the Platinum Mastercard.
No annual fee
Other cards for people with fair or building credit sometimes charge an annual fee. But the Platinum Mastercard gives you the credit you need with a $0 annual fee. View important rates and disclosures.
Potential to qualify for a credit limit increase quickly
With the Platinum Mastercard, you’ll automatically be considered for a credit limit increase in as little as six months. Using your card responsibly could increase your chances of receiving an increase.
Capital One reports credit activity
Not every credit card issuer reports credit activity to the credit bureaus. But Capital One does. That means your credit card can help you build credit, if you use it responsibly by doing things like always paying your monthly statement on time.
Tap to pay
Speed, simplicity, security and touch-free use are benefits of having a contactless credit card like the Platinum Mastercard. You can just tap, pay and go.
No foreign transaction fees
With the Platinum Mastercard, you don’t have to pay foreign transaction fees when you use your card outside the U.S. View important rates and disclosures.
Tools to help you manage your Platinum Mastercard account
Capital One offers these features to help you keep your money safe and accounted for.
Capital One Mobile app
You can manage your Platinum Mastercard account anywhere, anytime with the Capital One Mobile app. You can check your balance, view your transactions, get alerts, pay your bill and more.1
Eno, your Capital One assistant
Eno looks out for you and your money around the clock. It can reach out if it spots something unusual on your account, like a duplicate charge. You can also ask Eno questions about your account online, in the mobile app or through text.2
Virtual card numbers
You can shop online more securely with virtual card numbers, which are randomly generated card numbers that are linked to your credit card account. When you shop with virtual card numbers, your actual card number isn’t shared with the merchant.
You can access your virtual card from Capital One by signing in to the Capital One Mobile app. Or use virtual cards by adding Eno to your browser2,3 or by adding your Platinum Mastercard to Google Pay™.
Automatic payments
Sometimes, keeping track of bill payment due dates can get a little complicated. If you’d rather have your Platinum Mastercard payments made automatically each month, you can set up AutoPay for your account.
Fraud protection
The Platinum Mastercard can help protect your account and identity with security features like:
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Fraud alerts: When you add your mobile phone number to your account, you’ll get notified if Capital One notices potentially suspicious activity.
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Card lock: Card lock can help if your card is ever lost or stolen. With just a few taps, you can easily lock your card from being used to make most new purchases. And unlocking it when the issue is resolved is just as easy.4
- $0 fraud liability: If your card is lost or stolen, you won’t be responsible for unauthorized charges.5 View important rates and disclosures.
Capital One Platinum Mastercard FAQ
Here are a few commonly asked questions about the Platinum Mastercard.
Will the Capital One Platinum Mastercard be good for me if I have bad credit scores?
The Platinum Mastercard is designed for those with fair credit. If you have trouble being approved for the Platinum Mastercard, you could consider the Platinum Secured card. With the Platinum Secured card, a refundable deposit of $49, $99 or $200 gets you a $200 initial credit line. And with responsible use, you can earn your deposit back and upgrade your card.
Does the Capital One Platinum Mastercard offer cash back?
The Platinum Mastercard offers the opportunity to build credit but doesn’t offer cash back rewards. If you’re looking for a cash back credit card, the QuicksilverOne or Quicksilver Secured card might be a good option.
Can I use the Capital One Platinum Mastercard for a cash advance?
You can use the Platinum Mastercard for a cash advance. Keep in mind that you’ll have to pay a cash advance fee and a higher annual percentage rate (APR). View important rates and disclosures.
Can I do a balance transfer to my Capital One Platinum Mastercard?
You can use the Platinum Mastercard for a balance transfer. View important rates and disclosures.
Key takeaways: The Capital One Platinum Mastercard
The Platinum Mastercard is for people who are building their credit. There’s no annual fee and no security deposit required. View important rates and disclosures. Plus, cardholders are automatically considered for a credit limit increase in as little as six months.
You could see whether you’re pre-approved for the Platinum Mastercard. It’s quick and won’t impact your credit scores.
Explore more from Capital One
New to credit or looking for your next credit card?
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Compare other Capital One credit cards to see if one might be right for you.
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Earn unlimited 1.5% cash back on every purchase, every day with a Quicksilver card.
- Explore Capital One’s credit cards for building credit with responsible use.