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CREDITSHOUT RATING:
Good

Verdict: The Capital One Platinum Prestige card is solely for people who have an excellent credit rating and carry a balance. The Platinum Prestige card has no annual fee and one of the lowest interest rates in the industry.


Overview

Capital One has credit cards for all credit ratings. The Capital One Platinum Prestige card is one of their upper-tier options with an interest rate far lower than most credit cards. The card has no annual fee and a 0% introductory APR until March 2016, with a rate as low as 10.9% afterward. If you typically carry a balance and want to save on interest, this is one of the best balance transfer cards out there, with 0% APR on balance transfers through March 2016. The Platinum Prestige card also includes Platinum Mastercard benefits like Extended Warranty and Auto Rental Insurance, and no foreign transaction fees.

How does this card work?

If you want the lowest APR around, or you’re interested in transferring a balance to save money, the Platinum Prestige is one of the best cards around. The 0% introductory APR lasts through March 2016 on purchases and balance transfers, which is longer than one year from the date of this review.

The Platinum Prestige is not a rewards card, so it’s best for financing larger purchases or saving on interest. There is no annual fee and no foreign transaction fees, so any spending outside of the United States will not incur the 2-5% fee common with many other credit cards.


Travel and Shopping Benefits

The Platinum Prestige card comes with Platinum Mastercard benefits for travel and shopping. You’ll get $0 fraud liability and access to 24-hour travel and roadside assistance, as well as 24-hour global service. The card includes Auto Rental Insurance, so you can rent a vehicle with your Prestige card and get coverage for theft and collision damage automatically, saving you around $30 per day when you rent. The card includes Travel Accident Insurance for loss of life or limb when you book travel with your card as well.

When you make an eligible purchase with your Capital One Platinum Prestige card, you’ll get automatic additional warranty protection on your purchases, as well as price protection, which reimburses you the difference in price on eligible items if you find a lower price within 60 days.

Pros
  • 0% intro APR on purchases and balance transfers through March 2016
  • Low APR after introductory period
  • No annual fee
  • Platinum Mastercard benefits include Price Protection, Additional Warranty Protection, 24-hour Roadside Assistance and Auto Rental Insurance
Cons
  • Excellent credit required
  • No rewards program

The Platinum Prestige card does not offer rewards, but it is an excellent, basic credit card if you want to finance a large purchase, transfer a balance or have a back-up card for emergencies.

Apply for the Capital One Platinum Prestige Card.