Capital One Platinum Prestige Credit Card Review

It’s a long name for such a simple card, but here it is: the Capital One Platinum Prestige credit card (phew!).

Although it sounds very high end and exclusive, this credit card mainly functions as a low interest, low fee credit card that can help people with an excellent credit rating get their finances organized under one credit card for less money.

If you have excellent credit and you’re just looking for a card that can help you to pay your debts of faster, then what should you know about the Capital One Platinum Prestige credit card?

3.5 / 5 stars     

Capital One Platinum Prestige Credit Card: Low Costs to Use

The main benefit of this credit card isn’t the fact that it offers great rewards and prestigious services, it’s the fact that it’s a low interest credit card. The Platinum prestige credit card offers you no annual fee and an introductory APR on purchases and balance transfers of 0% until October of 2014. There is a 3% fee attached to your balance transfer, so keep that in mind so that you don’t go over your card limit simply moving your money around. However, on top of the introductory period, this card also has a generally low APR, ranging from just under 11% to just under 19% depending on your credit worthiness and prime rate.

Other fees such as returned payment and late payment are standard, but the penalty APR is a bit high at just over 29%, so avoid running late with this credit card. The main advantage of this credit card lies in its ability to save you money on your purchases and balance transfers, particularly in the introductory period which lets you make big ticket item purchases or move your money around to pay off faster and save on interest in doing so.

As long as you use this card properly, you can save a great deal of money in its use.

The Capital One Platinum Prestige Credit Card is Not a Rewards Card

Unfortunately, and considering its rather long and glamorous sounding name, this card is not a rewards credit card. You do get perks like $0 Fraud liability, travel assistance to help you get an emergency card on the road, roadside assistance, rental insurance for cards, travel accident insurance and an extended warranty on items purchased with your credit card, but that’s about it. And yet you still need to have an excellent credit rating in order to be accepted into this credit card program, making it less appealing for many people. Still, if you’re looking for a no-frills, no gimmicks, low interest, low fee credit card, this one is a good pick simply because you get the platinum benefits for free which is nice for shoppers and travelers.

The Capital One Platinum Prestige credit card isn’t fancy and it won’t shower you with rewards. However, it is a good card for paying down debt faster, paying for a big ticket item or just to have in your wallet to pay for emergencies. If this sounds like your kind of card, you can apply for it here today. Enjoy!

3.5 / 5 stars     

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