Capital One Platinum Credit Cards
A Credit Article Contributed by Kris Griebe
What is a Capital One Platinum Credit Card?
Capital One is a lender, a bank, just like most other credit card companies. They offer a wide variety of credit card plans to meet the needs of various consumers. Included in this plethora of credit card plans is the Capital One Platinum Credit Card. This is the top of the line credit card for those with very good credit. Their Platinum card will offer you the best possible deal they have.
The Capital One Platinum credit card offers no reward programs, nor any extra benefits. What it does offer is a simple and cost effective credit card. Their platinum card carries one of the lowest APR's of any credit cards, as well as a six month grace period where all your purchases will be free of interest. This is designed to allow you to pay less interest on your purchases, while still maintaining the maximum credit flexibility.
With Such a Low Apr, How Does Capital One Make Money on Their Platinum Credit Card?
Because there is a decreased interest rate, coupled with an increased credit limit, Capital One stands to make even more money from their platinum credit card than with their other credit cards. Because your interest rate is reduced, you will use your credit card more frequently. Combine this with an increased credit limit, meaning you can spend more, and your credit card will see much more frequent use than a credit card with a lower credit limit and higher interest rate.
The Capital One Platinum Credit Card is a benefit to both Capital One, and their clients. It will allow you to have the increased financial freedom that a high credit limit allows, and will reduce the amount of interest you pay per purchase. From this, Capital One makes money off what you do purchase.
That Sounds Great! How Do I Get a Capital One Platinum Credit Card?
In order to successfully gain a Capital One credit card, especially the Platinum card, you will need to have a very good credit score. Because they offer a high credit limit with low interest rates, they are taking an increased chance on you. They take the risk with this card that you would spend a large sum and then never pay them back. So, to assure that they get the money you spend back, Capital One only awards their Platinum card to those who have shown themselves to be financially responsible and willing to pay their bills in a timely fashion.
If you think you qualify (check your credit score first to find out if you have good or bad credit), visit the Capital One website and submit your application. Within a few moments you will receive notification of your approval or denial. If you are approved, you will shortly receive your credit card in the mail and will be able to start spending money on your credit card.
Be sure, before you apply, that you can balance the extra financial strain that having this credit card could put on you, and be sure that you use your credit card wisely.
