When your credit is less-than-stellar, getting a bank card might be tricky. Often, you are limited to store or secured cards. That problem is what makes the Capital One Platinum Credit Card appealing; it’s available to those with poor to fair credit, and you could possibly mechanically qualify for credit line increases by utilizing your card responsibly.

Take a look at more options for improving your credit rating: Best bank cards to construct credit

The Capital One Platinum card is a basic, unsecured bank card. It doesn’t have a rewards program, so you will not earn points, miles or cashback in your purchases.

For those who want to earn money back or points in your spending, compare our top rewards bank card picks today.

Although the Capital One Platinum card is an easy card primarily designed to allow you to construct credit, it does have a number of added advantages:

• Automatic credit line reviews: As you utilize your card, Capital One will review your activity, and you could possibly mechanically qualify for a credit line increase in as little as six months.

• CreditWise access: As a Capital One cardmember, you get access to CreditWise, a tool that allows you to monitor your credit and track your progress.

• No foreign transaction fees: Unlike many cards, the Capital One Platinum card doesn’t charge foreign transaction fees, so you will not pay an added fee to make use of the cardboard abroad.

The Capital One Platinum Credit Card is a useful option for those with troubled or limited credit histories. It’s an unsecured card and, unlike many cards for those with less-than-perfect credit, it doesn’t charge monthly or annual fees.

Through the use of the cardboard responsibly (keeping the balance low and making your whole payments on time), the Capital One Platinum card can allow you to improve your credit over time. And, you could qualify for a credit line increase in as little as six months. This will offer you some extra flexibility to not increase your credit utilization ratio (a crucial a part of your credit rating) as you make purchases together with your card.

The Capital One Platinum is a quite simple card; it doesn’t have a rewards program, and it doesn’t provide added perks like travel insurance. As your credit improves and you possibly can qualify for a wider range of options, you could want to contemplate one other card so you possibly can earn rewards in your purchases.

Related: Which bank card is best for me? A guide to allow you to select

• Backed by a top issuer: Capital One is a good bank card issuer; in reality, it was ranked third out of 16 bank card issuers based on customer satisfaction. Its excellent fame can come in useful when you have got questions or need assistance together with your account.

• Preapproval tool: The Capital One Mastercard is on the market to those with fair credit. For those who aren’t sure should you’ll qualify, you need to use the preapproval tool to examine your eligibility without affecting your credit rating.

• No annual fee: Many cards designed for those with less-than-perfect credit might be expensive with costly monthly or annual fees. Against this, the Capital One Platinum Mastercard doesn’t have monthly or annual fees, so there is not any cost to holding the cardboard.

Related: Prequalified vs. preapproved bank card offers — What’s the difference?

• Higher-than-average APR: The APR on the Capital One Platinum Mastercard is a variable 29.99% — significantly higher than many other bank cards today. For those who apply for the cardboard, remember to repay your statement balance in full every month to avoid costly interest charges.

• No rewards: There is no such thing as a rewards program for the Capital One Platinum Card, so there is not any technique to earn rewards in your purchases.

• No extra advantages: The Capital One Platinum card doesn’t offer additional perks like many rewards cards do, so you possibly can’t reap the benefits of perks like free automotive rental insurance or lost luggage coverage.

As a Capital One Platinum cardholder, you possibly can make a payment online through the issuer’s online portal, through the mobile app, by calling customer support, or by mailing a check:

For those who don’t think the Capital One Platinum Credit Card is correct for you, considered one of these alternatives could also be a better option for constructing credit:

Why we prefer it: Unlike the Capital One Platinum card, the Quicksilver Secured Money Rewards card requires a refundable security deposit of $200 or more (which acts as your credit line). Nonetheless, it does have a rewards program, so you possibly can earn 1.5% money back on every purchase and as much as 5% money back on hotels and rental cars booked through Capital One Travel. Over time, you possibly can earn your security deposit back, be considered for the next credit limit with no additional deposit, and qualify to upgrade to an unsecured card.

Read our full Capital One Quicksilver Secured Money Rewards Credit Card review

Why we prefer it: The OpenSky Secured Visa is one other secured card. There is no such thing as a credit check to use, and you possibly can even earn rewards on eligible purchases with select merchants. The cardboard reports activity to all three major credit bureaus — Equifax, Experian and TransUnion — so using the cardboard can allow you to establish or rebuild your credit. Nonetheless, you will have some upfront money to open the cardboard; it has a $35 annual fee and a refundable minimum $200 security deposit.

Read our full review of the OpenSky Secured Visa card

Why we prefer it: If you have got a limited credit history but are in college, a student bank card just like the Capital One Savor Student Money Rewards card could possibly be a useful alternative to secured cards. It’s available to those with little credit history, and it doesn’t have an annual fee. Plus, you possibly can earn rewards across several categories: as much as 8% money back on Capital One Entertainment purchases; 5% money back on hotels and rental cars booked through Capital One Travel; 3% money back on dining, entertainment, popular streaming services, and at grocery stores (not including Goal and Walmart); and 1% money back on all other purchases.

As a latest cardholder, you’ll also get a one-time $50 bonus after spending $100 throughout the first three months.

Read our full Capital One Savor Student Money Rewards Credit Card review

This text was edited by Kendall Little

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