Capital One Platinum Prestige Credit Card

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If you can avoid the sky-high APR, then this easy-to-get card can send your credit score soaring.

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The Platinum Prestige Card from Capital One is ideal for people who are building credit and might not qualify for more attractive rewards cards. You won’t get the extras today’s competitive credit card market is known for, such as points for spending, flashy sign-up bonuses or access to special events and airport lounges.  This is a fine tool for building credit and moving on to bigger and better options later.

Review

If you’re struggling to get approved for a card, then you’re in luck. The Platinum Prestige Card from Capital One is fairly easy to qualify for, making it a shoo-in for people who are repairing a poor credit history. You won’t have to pay an annual fee with this card, which is a point in its favor – especially since this is not a rewards card.

While there’s no balance transfer fee, they do come with a high interest rate, so you don’t want to move debt over and pay it off over time because you will pay a premium in interest. This is not a good card for carrying a balance as the APR is a whopping 24.99 percent. That means if you owe $500 then you’ll end up paying $124.94 in interest alone.

There are more attractive options for people who want to repair their credit, such as the Discover it Secured Card. This card will help you pump up your credit score while also offering rewards. Cardholders will get 2 percent cash back on restaurants and gas purchases; and 1 percent on everything else. Like the Platinum Prestige, you will pay big bucks on any balance you carry over past the due date. It’s just slightly lower than the Capital One Platinum Prestige at 23.24 percent.

This card also comes with a host of complimentary Platinum MasterCard benefits, including 24-hour roadside assistance, price protection and car rental insurance.

After making five payments in a row, you might be eligible for a higher credit limit. This means that if you don’t increase your spending on the card, your credit utilization ratio will also decrease. Credit utilization makes up about 30 percent of your credit score, so this could help you build credit.

Who should get this card

People who are serious about rebuilding their credit, because it’s easy to qualify for and you don’t have to pay an annual fee.

Fees and APR

  • You won’t have to pay an annual fee.
  • The APR is a costly 24.99 percent.
  • The late payment fee is $35.
  • There is no balance transfer fee.

Extras, perks and using rewards

Cardholders will get extra warranty protection at no charge.

This card comes with 24-hour roadside assistance, so if you lock yourself out of your car or you break down, someone is just a phone call away.

You can get more credit after making five consecutive payments.

Save money by taking advantage of price protection, which allows you to get the difference if an item goes on sale within 60 days of purchasing it.

How this card compares

Total VISA® Unsecured Credit Card
  • Checking Account Required
  • Fast and easy application process; response provided in seconds
  • A genuine VISA card accepted by merchants nationwide across the USA and online
  • Manageable monthly payments
  • If approved, simply pay a Processing Fee to open your account and access your available credit
  • Reports monthly to all three major credit bureaus
  • Select your favorite card design from our gallery, for free!
  • No-Fee credit line increase opportunities!
Credit Needed

No Credit

Regular APR

See Terms*

Annual Fee

See Terms*

Purchase Intro APR

N/A

Balance Transfers Intro APR

N/A

The Total Visa Unsecured Credit Card is another card that tacks on the processing fees, servicing fees and sticks it to you with a high APR of 29.99 percent. Notably, there are no foreign transaction fees with this card, so this may make it a better choice for some.

Capital One® QuicksilverOne® Cash Rewards Credit Card
  • Earn unlimited 1.5% cash back on every purchase, every day
  • Use your QuicksilverOne card and get 50% back as a statement credit on your monthly Spotify Premium subscription, now through April 2018
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • Get access to a higher credit line after making your first 5 monthly payments on time
  • Fraud coverage if your card is ever lost or stolen
  • Use online banking to access your account, even from your smartphone, with our mobile app
  • Help strengthen your credit for the future with responsible card use
Credit Needed

Fair

Regular APR

24.99% (Variable)

Annual Fee

$39

Purchase Intro APR

N/A

Balance Transfers Intro APR

N/A

The Capital One QuicksilverOne Cash Rewards Credit Card is a decent choice for a consumer trying to rebuild (or build for the first time) her credit and earn rewards at the same time. A word of caution here, though. This card is not right for you if you plan to carry a balance. The interest you accrue will cancel out any rewards you earn. And the APR is fairly unforgiving.

Capital One® Secured MasterCard®
  • No annual fee, and all the credit building benefits with responsible card use
  • Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureaus
  • You will get an initial $200 credit line after making a security deposit of $49, $99, or $200, determined based on your creditworthiness
  • Get access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed
  • Easily manage your account 24/7 with online access, by phone or using our mobile app
  • It's a credit card accepted at millions of locations worldwide
Credit Needed

No Credit

Regular APR

24.99% (Variable)

Annual Fee

$0

Purchase Intro APR

N/A

Balance Transfers Intro APR

N/A

The Capital One Secured MasterCard has flexible opening options that other secured cards do not. If you qualify, you can put down as little as $49 to get a credit limit of
$200. Or you can pay the $200 security deposit in installments. This card can
give you access to a higher credit line after you make five on-time monthly
payments.

 

EDITORIAL NOTE

Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.