March 28, 2024 |8 min read
Applying for a credit card can be a big decision, whether you’re getting your first card or focusing on rebuilding your credit. The first step is finding a card that meets your needs and comes with helpful benefits.
That’s where the Capital One Platinum Mastercard comes in. It can be a great starter card for people who are new to credit. Or a card to help those with established credit work on improving it. Learn more about the card and its benefits.
Key takeaways
- The Platinum Mastercard is for people with fair credit. When used responsibly by doing things like paying statements on time every month, it can help build or rebuild credit.
- The Platinum Mastercard comes with a $0 annual fee and doesn’t require a security deposit. View important rates and disclosures.
- Cardholders are automatically considered for a credit limit increase in as little as six months.
- You can quickly see whether you’re pre-approved for the Platinum Mastercard with no impact to your credit.
Platinum Mastercard®
With upfront pricing, you won't have to worry about hidden fees.
Learn morePlatinum Mastercard benefits
The Capital One Platinum card comes with a variety of benefits. Here are a few you should know about before you apply:
You don’t pay an annual fee
Budgets can be tight when you’re building or rebuilding credit. That’s why the Platinum Mastercard gives you the credit you need with a $0 annual fee. View important rates and disclosures. Other cards for people in this stage of their credit journey sometimes charge an annual fee.
You may 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 the increase.
Capital One will report your credit activity to the three major credit bureaus
When credit card issuers like Capital One report positive credit activity to the three major credit bureaus—not all do—it can help you build your credit history. That’s because the credit bureaus gather information on a person’s 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.
You can tap to pay at checkout
Speed, simplicity, security and touch-free use are benefits of having a contactless credit card. Since the Platinum Mastercard is contactless, simply hold or tap it on a contactless-enabled reader, wait for the confirmation and you’re all set.
To see whether a card or merchant terminal is contactless, look for the four curved lines that resemble the Wi-Fi symbol turned on its side.
You won’t pay 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 helpful tools for managing your Platinum Mastercard account wherever you are.
AutoPay
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.
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 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, reaches out if it spots something unusual and can help you fix it. That includes monitoring your transactions and notifying you when Eno finds unusual account activity like duplicate charges.2
Virtual cards
Eno can also help protect your Platinum Mastercard account when you’re shopping online. Simply add Eno to your browser to pay with a virtual card number rather than your actual Platinum Mastercard number.2,3
You can also pay with virtual cards when you shop online through Google Chrome and in Android apps using Google Pay. With the browser extension and Google Pay, your virtual cards can be automatically filled in at checkout, giving you the ability to pay with fewer clicks and without the need to have your physical card on hand.3
CreditWise from Capital One
CreditWise from Capital One is a free credit-monitoring tool that helps you monitor and track your VantageScore 3.0 credit score. With CreditWise, you can learn more about the factors that may move your score up or down. Plus, you’ll get automatic alerts when something meaningful changes in your TransUnion or Experian credit report.4
Monitoring your credit with CreditWise won’t hurt your credit score. And CreditWise is free for everyone, even if you’re not a Capital One cardholder.
Help protect your Platinum Mastercard account from fraud
Check out the Capital One credit card security features that can help you stay on top of your account and protect you from fraud.
Fraud alerts
It takes just a few taps for you to help stop fraudulent activity in its tracks. When you add your phone number to your Platinum Mastercard account, you’ll automatically get alerts if Capital One notices potentially suspicious activity on your account.
Card lock
Card lock can help prevent someone else from using your Platinum Mastercard when it’s been lost or stolen. You can lock your card at any time using the Capital One Mobile app. Then you can easily unlock it when you’re ready to use it again.5
And with Platinum Mastercard, you won’t be responsible for charges you didn’t authorize.6View important rates and disclosures.
Capital One Platinum Mastercard FAQ
Here are a few commonly asked questions about the Platinum Mastercard:
Is it hard to get a Capital One Platinum Mastercard?
The Platinum Mastercard is for people who are looking to build or rebuild their credit. You can see if you’re pre-approved for the Platinum Mastercard without hurting your credit scores.
Is the Capital One Platinum Mastercard a good fit if I have a good credit score?
The Platinum Mastercard is designed for applicants with a fair credit score. If you’ve already established a good credit score, it may be worth looking into cards that have additional benefits, such as cash back rewards. For example, the Capital One QuicksilverOne card offers 1.5% cash back on every purchase, every day.
You can also explore Capital One cards for people with good and excellent credit scores to find the best card for you.
Will the Capital One Platinum Mastercard be good for me if I have a bad credit score?
If you’re rebuilding your credit and think you may have trouble being approved, you might consider the Capital One Platinum Secured card. That card is for applicants with low credit scores who want to improve their creditworthiness.
Does the Capital One Platinum Mastercard offer cash back?
While the Platinum Mastercard offers the opportunity to build credit, it doesn’t come with rewards like cash back. If you’re looking for a credit card that offers cash back, the Capital One QuicksilverOne card might be a good option.
Find a card that fits your needs
Pre-approval makes it easy to browse card offers without impacting your credit score.
Get startedThe Capital One Platinum Mastercard in a nutshell
The Platinum Mastercard is for people with fair credit scores who are building or rebuilding their credit. The card comes with a $0 annual fee. View important rates and disclosures. Plus, it doesn’t require a security deposit. And cardholders are automatically considered for a credit limit increase in as little as six months.
If you’re ready to take the next step, apply for the Platinum Mastercard today. You could also see if you’re pre-approved with no impact to your credit score.
Explore more from Capital One
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