Help Me Build Credit has partnered with CardRatings for our coverage of credit card products. Help Me Build Credit and CardRatings may receive a commission from card issuers. The editorial content on this page is not provided by any of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone.
The Capital One Platinum card is a good card if you are trying to rebuild credit after a credit hardship, You can get a higher credit line after five monthly on-time payments.
- Capital One will only let you have a maximum of 2 personal Capital One branded credit cards. (This excludes co-branded credit cards like the Capital One Walmart Rewards card.)
- You can only get approved for 1 Capital One card every 6 months
- Capital One will do a hard credit inquiry by all 3 credit bureaus (you can freeze 1 credit report and still get approved)
- You can check your application status by calling 1 800 903 9177 or 1 877 277 5901
- If declined you can call 1 800 625 7866 to be reconsidered (Capital One will usually only reconsider an application due to application error)
No foreign transaction fee.
Worldwide secondary coverage for collision damage and theft on rentals. Coverage is for rentals up to 31 days. Covers vehicle with MSRP up to $50,000.
Get your original manufacturer's warranty time doubled. (Will only cover if the original warranty is for 2 years or less). Max $10,000 per claim.
Get reimbursed for up to $600 per claim (with a $50 deductible) if your cell phone breaks or gets stolen. To activate coverage, you need to pay your monthly cell phone bill with your Platinum credit card. Max $1,000 or 2 claims per year.
Get refunded if your purchase is damaged or stolen, up to 90 days from the date of purchase. Max $1,000 per claim, $25,000 per year.
If you buy an item and then within 120 days find the identical item for cheaper at any US retailer, then you will be reimbursed the difference. Up to $500 per item and up to 4 claims per year.