Capital One Platinum Preferred Card

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Capital One Platinum Preferred Credit Card

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7.2

Annual Fee

10.0/10

Promotions

6.5/10

Services

6.5/10

Travel

6.0/10

Insurance

6.5/10

Rewards

6.1/10

Security

8.1/10

APR (Interest Rate)

6.5/10

Customer Support

9.0/10

Pros

  • Balance Transfer Fee and Cash Advance fee is very good on Capital One Platinum Preferred Card.
  • 9 months 0% introductory APR for purchase and balance transfer. It is very good for this card.
  • You will not pay any annual fee for Capital One Platinum Preferred Card.
  • You can earn unlimited cash back with the card. 2% cash back for gas and grocery is good. These are most used purchase categories. You can also earn 1% per $1 for all other purchases.
  • There are no foreign transaction fees with Capital One Platinum Preferred Card. It means you are not going to pay extra if you purchase from abroad or if you purchase products with foreign currency.
  • Minimum APR is very reasonable.
  • You will able to get higher credit line after you make first 5 montly payments in time.
  • Your cash backs won't expire with this card.

Cons

  • Maximum APR of the card is a little bit high.

Review

Capital One Platinum Preferred Card is a new credit card product. The company has made a good card for those who has a good credit score. Besides the card is providing consumers to a chance to access a higher credit line when they make their first 5 payments on time. This is also awesome opportunity to improve credit score.

Capital One Platinum Preferred Card Interest Rates

Purchase APR: 16.49%, 21.49% or 25.49%

Balance Transfer APR: 16.49%, 21.49% or 25.49%

Cash Advance APR: 25.49%

Introductory APR: 0% for 9 months on Balance Transfers and Purchases.

We believe that these rates are fair for those who has good credit score. Besides there are additional opportunities of the card. We will also mention about those. Only maximum APR is a little bit high for Capital One Platinum Preferred Card.

Capital One Platinum Preferred Card Rewards & Bonuses

There is no sign up bonus with this card. Some banks are offering sign up bonus for good credit score but they are not much.

Capital One Platinum Preferred Card offers 2% unlimited cash back on gas and grocery. This is a good opportunity for those who are spending much on these purchase categories. You will also earn unlimited cash back to other categories.

Fees

You don’t have to pay extras when you purchase from abroad or purchase with foreign currency. There is no foreign transaction fee of the card.

There is no annual fee of the card which is a good advantage for those who wants to have a card without annual fee.

Cash Advance Fee and Balance Transfer Fee is maximum 3%. This is not bad at all. Generally cards in this category asks for 4% or more. Even 1% can make important difference on those fees. However minimum Cash Advance Fee is a little bit high.

Benefits

These are some benefits of Capital One Platinum Preferred Card:

  • Travel Accident Insurance
  • Security and Account Alerts
  • Purchase Notifications
  • Auto Rental Collision Damage Waiver
  • Zero Fraud Liability
  • Virtual Card Numbers
  • Extended Warranty
  • 24-Hour Travel Assistance Services

Learn more benefits from the card issuer website.

Result

This card is not bad at all. If you have good credit score and if you would like to improve it, Capital One Platinum Preferred Card can be a good stepping stone for you. So you will able to get better opportunities. We recommend you to not to cash advance as much as you can because rates are high.

Capital One Platinum Preferred Card Rates & Fees

Interest Rate (APR) Rewards ($1) Annual Fee FTF(*) Cash Advance Fee Cash Advance APR Balance Transfer Fee Balance Transfer APR
0% APR for 9 Months

16.49%, 21.49% or 25.49%

2% unlimited cash back on gas & grocery.

1% unlimited cash back at all other purchase categories.

None None $10 or 3% 25.49% 3% 0% APR for 9 Months

16.49%, 21.49% or 25.49%

FTF: Foreign Transaction Fee

Editor Scores

Type of Card Editor Score Overall Score Total Cards
General 220 200 100
Rewards 192 189 64
Cash Back 115 123 26
No Foreign Transaction 169 178 40
Zero Interest 159 180 43
No Annual 179 166 60
Balance Transfer 210 226 50

Similar Credit Cards

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