Capital One Platinum Review: A Good Card for Average Credit

A straightforward card for folks on the way up: It charges no annual fee and offers the opportunity to boost your credit limit with responsible behavior.
Melissa LambarenaSep 30, 2021

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Our Take


NerdWallet rating 

The bottom line:

This is an attractive option if you've got average credit. But the high interest rate means you won't want to carry a balance from month to month.

Capital One Platinum Credit Card Credit Card

on Capital One's website

Annual fee


Regular APR

26.99% Variable APR

Intro APR


Recommended Credit Score

Quick Facts

Pros & Cons


  • Qualify with average credit
  • No annual fee
  • No foreign transaction fee


  • High APR
  • No rewards

Alternate Pick: No annual fee

Petal 1 "No Annual Fee" Visa® Credit Card
NerdWallet rating 

Petal® 1 "No Annual Fee" Visa® Credit Card

Rewards and a potentially generous credit limit

The Petal® 1 "No Annual Fee" Visa® Credit Card is friendly to those with less-than-perfect credit and it earns rewards. Get between 2% and 10% cash back when you shop with select merchants. Depending on eligibility, you may also qualify for a credit limit that runs as high as $5,000.

Read our review

Compare to Other Cards

NerdWallet rating 
NerdWallet rating 
NerdWallet rating 
Annual fee


Annual fee


Annual fee


Regular APR

26.99% Variable APR

Regular APR

22.99% Variable APR

Rates & Fees

Regular APR

17.39% Variable APR

Intro APR


Intro APR

10.99% intro APR on Balance Transfers for 6 months

Intro APR


Recommended Credit Score
Recommended Credit Score
Recommended Credit Score

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Full Review

The Capital One Platinum Credit Card is a solid option for those with average credit. It has an annual fee of $0 and also charges no foreign transaction fees. But for many, its standout feature may be that it also offers the chance to earn a higher credit limit after making on-time payments in as little as six months.

Credit limits tend to be lower for those with average credit, so access to a higher credit line could be beneficial for your credit score and wallet.

Benefits of the Capital One Platinum Credit Card

Card type: Fair credit.

Annual fee: $0.

Rewards: None.

Interest rate: The ongoing APR is 26.99% Variable APR. That's pretty high, so try to pay your bill in full every month so you don't get charged interest.

Foreign transaction fees: None.

Other features:  

  • No penalty APR for late payments, but a late fee applies.

  • Fraud coverage.

  • Unlimited access to CreditWise, an app that monitors your credit profile.

  • Reporting to all three credit bureaus.

Why you might want the Capital One Platinum Credit Card

Spend less on fees

You won’t earn any rewards on this card, but you will save money on fees. The Capital One Platinum Credit Card has a $0 annual fee, and you'll pay no foreign transaction fees on overseas purchases.

Earn the chance to boost your credit limit

Make payments on time and you could get your credit limit increased in as little as six months. A higher credit limit — if not used — could lower your credit utilization and have a positive impact on your credit scores.

Get a report to all 3 major credit bureaus

A card that reports payments to all three major credit bureaus — TransUnion, Experian and Equifax — can help you build credit. These companies record the information used to calculate your credit scores, which is a key step in establishing credit.

Pick your monthly due date and payment method

Capital One gives you the option of choosing the due date that works best for you. This way, you can set a date that coincides with the paycheck you prefer. You can also choose whether to pay by check, online or at a local branch.

Avoid a penalty APR for late payments

If you ever forget a payment, the Capital One Platinum Credit Card won’t raise your APR if you’re late. You’ll still have to pay a late fee of up to $40, but you’ll avoid additional charges.

Why you might want a different card

While you'll avoid certain fees with the Capital One Platinum Credit Card, you won't earn any rewards with it. Also, if you carry a balance on the card, it could get expensive: The ongoing APR is 26.99% Variable APR. And if you're looking for a card that earns rewards, other options may be a better match.


The Capital One QuicksilverOne Cash Rewards Credit Card, for average credit, offers many of the same benefits as the Capital One Platinum Credit Card. This card earns an unlimited 1.5% cash back on every purchase, but it comes with a $39 annual fee. The cash back earned can offset this cost when you spend $2,600 or more annually with the card. If you don’t spend that much, the Capital One Platinum Credit Card is a better choice.

A fixed monthly payment

If you prefer to know what you’ll owe each month, the Upgrade Visa® Card with Cash Rewards combines elements of credit cards and personal loans. When you use it as a credit card, balances are converted to installment loans. When you use it as a personal loan, funds are deposited into your bank account. Whichever option you use, you can pay back what you borrow in equal monthly installments at a fixed interest rate over a certain window of time. It’s friendly to those with average credit and it earns 1.5% cash back on all purchases. It has a $0 annual fee.

Is the Capital One Platinum Credit Card right for you?

The Capital One Platinum Credit Card could be ideal if you have average credit. The chance to earn a higher credit limit may offer the freedom to do more. The travel-friendly advantages and no foreign transaction fees can also add up to savings when you go out of town.

However, the card doesn't earn rewards, and its high APR could make it a deal-breaker if you maintain a balance. This card is better used as a tool to improve your credit so that someday you can qualify for a card with lower interest rates. See our list of best credit cards to find the best option for you.

Frequently asked questions