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. Show
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 CardAnnual fee:$0. Rewards: None. Interest rate: The ongoing APR is 28.49% 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:
Why you might want the Capital One Platinum Credit CardSpend less on feesYou 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 limitMake 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 bureausA 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 methodCapital 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 paymentsIf 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 cardWhile 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 28.49% Variable APR. And if you're looking for a card that earns rewards, other options may be a better match. RewardsThe 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 paymentIf you prefer to know what you’ll owe each month, the Upgrade Cash Rewards Visa® 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. What happens if I go over my Capital One credit card limit?If you go over your credit limit, a few things could happen. The first is that your card could be declined when you try to use it. You could also be charged a fee if you're part of an over-the-limit coverage program, according to the Office of the Comptroller of the Currency. But that program is optional.
What is the fee for going over credit limit?Any approved transactions above your credit limit are subject to over-the-limit (or over-limit) fees. This credit card fee is typically up to $35, but it can't be greater than the amount you spend over your limit. So if you spend $20 over your limit, the fee can't exceed $20.
Can I go over my limit on my credit one credit card?Credit One does not charge an over-limit fee when cardholders exceed their credit limit. Credit One will decline most over-limit transactions, and if a cardholder's balance somehow goes above the approved credit limit, Credit One will not allow any further transactions on the account.
What will happen if I go over my credit limit?The transaction could be flat-out denied, you may damage your credit score, you could face a penalty APR (annual percentage rate), or you may have to pay an over-limit fee. “What's mostly happening in practice if you try to go over your limit is the transaction will just be declined.
|
Capital one credit card over limit fee
Related Posts
Copyright © 2024 paraquee Inc.
