Review of Capital One Platinum Master Card



The Capital One Platinum Master Card was last reviewed on : 11th March 2005

Summary - The Capital One Platinum Master Card is a basic platinum credit card with no rewards.

There is no annual fee. The apr is at a low fixed rate of 8.90% for both purchases and balance transfers. The grace period is 25 days and Capital One uses the average daily balance method (including new purchases) to calculate monthly balance. There is no balance transfer fee if you decide to transfer your balance. You can also get a credit line of up to $20,000.

The Capital One Platinum Mastercard will appeal to those looking for a basic no annual fee, low apr credit card. Those with excellent credit might also want to consider the Pulaski Bank Visa/Mastercard, which has a fixed apr of 6.50% and a 0% apr on balance transfer for 6 billing cycles. There is an annual fee of $35, hence you have to calculate if the lower rate will offset the annual fee you have to pay. You should also consider the MBNA WorldPoints Platinum Plus Mastercard, which has no annual fee, a 7.90% fixed rate apr, and a travel reward program.

Positives
  • No annual fee
  • Low apr
  • No balance transfer fee


Negatives
  • No rewards


Capital One Platinum Master Card
Other Benefits
Concierge service
Purchase security
Extended purchase protection plan
24/7 customer service
Cost/Fees/Interest rates
Introductory rate No introductory APR
Annual Fee No annual fee
Purchase APR 8.90% fixed
Balance Transfer APR 8.90% fixed
Cash Advance APR 19.80% fixed
Penalty/Default Rate APR 25.90%
Min Finance Charge $0.50
Grace Period 25 days
Balance Calculation Method Average Daily Balance (including new purchases)
Balance Transfer Fee No balance transfer fee
Cash Advance fee 3% min $5.00
Over-the-credit-limit fee $29.00
Late Payment fee $29.00 - less than $1000
$35.00 - more than $1000



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