The Capital One Classic Platinum Credit Card is one of the best credit cards for people with average credit score or limited credit history in the U.S. It is a regular credit card (not a secured card) issued by Capital One Financial, and as a Platinum MasterCard, it comes with many MasterCard benefits. This card is geared towards those of you with fair credit who are either seeking to improve your credit score or are looking for a credit card that will give you extra perks that other cards do not.

Here I’ll do a detailed review of Capital One Classic Platinum Credit Card, one of the best credit cards for fair credit, and tell you how we rate this credit card.

Things We Like About This Card

0% introductory APR on purchases until March 2013. If you are planning on applying for this Capital One card, you should do so soon so as to enjoy this 0% introductory APR on purchases for a longer period of time, because the later you apply for it, the fewer days will be left till this introductory period ends. After the introductory period, your variable APR on purchases will be either 17.9%, 19.9% or 22.9%, depending on your credit score.

Free text message alerts to help you monitor your spending. This is a very convenient hassle-free way to monitor your spending, especially if you have signed up additional cardholders to your account, as this way you will be able to keep track of their spending as well.

You can personalize your card by choosing what image you want to appear on your card, which could either be a picture of your family or pet. You can also choose a card image from the existing hundreds of design when deciding on your credit card cover.

No foreign transaction fee. If you travel often outside the U.S. or like to make purchases on the internet, you will find it useful that this card has a 0% foreign transaction fee when you make purchases in another currency on your card.

Free Extended Warranty. If you buy a new item with this Capital One card and it comes with an original manufacturer’s warranty of 12 months or less, Extended Warranty will double the original warranty time period to up to 12 months on most items that you purchase.

Auto rental insurance, which would cover the costs of collision, loss or damage that might occur to the vehicle you were renting. Make sure you pay for the full auto rental cost with the Capital One Standard Platinum Credit Card.

$100,000 travel accident insurance. If you pay for your or your family’s travel tickets with this card, you will automatically be covered under this travel accidence insurance plan in the event of death or dismemberment.

24-hour travel and roadside assistance, along with emergency help needed to replace a lost card. Remember that if you ever have any trouble, you can call the emergency number on the back of your card. This assistance will be free of charge, though you should remember that any additional services such as medical, legal, transportation, etc, will be yours to cover.

$0 Fraud Liability. You will not have to pay for any fraudulent transactions made on your card if it is lost or stolen. Even with this benefit, you should still check your credit reports frequently in order to prevent any type of fraud or identity theft. Also remember that in the case of your credit card being lost or stolen, you should report it immediately to the card issuer for them to send you a new one and not accept transactions made through the one that got misplaced or stolen.

No balance transfer fee. This will benefit those who want to transfer balances from another card account to this card. Most card issuers in the U.S. charge a balance transfer fee of around 3% of the balance you’re transferring. However, you should only do a balance transfer if you are currently paying a higher interest rate than the interest charged on this card, which is a variable APR of either 17.9%, 19.9% or 22.9%, depending on your credit score.

Our Least Favorite Things About This Card

$39 annual fee. This Capital One Classic Platinum Credit Card charges a higher annual fee than the Capital One Standard Platinum Credit Card (read our review of Capital One Standard Platinum Credit Card) which has an annual fee of $19 (waived for the first year) and is also a card that is for people with average credit. This Classic Card has a 0% intro APR on purchases and has lower interest rates, compared to the Standard Card which doesn’t have any 0% intro APR on purchases and has an APR of 24.9% on both purchases and balance transfers.

No rewards program. This is a basic card that doesn’t reward you on your everyday spending.

Our Verdict: 4/5 Stars

The Capital One Classic Platinum Credit Card is designed for people with average credit who want to have a credit line and a card that offers 0% introductory APR on purchases. Do note that this 0% intro period is only till March 2013, so the sooner you apply for this card, the more days of 0% intro APR on purchases you will have.

This card, like all other Capital One cards, lets you personalize the cover of your credit card, and as a Platinum MasterCard, it has many additional benefits that aren’t offered by other credit card issuers, such as extended warranty, travel accident insurance, and many others.

This Capital One Classic Platinum Credit Card comes with a $39 annual fee, which you’ll have to pay starting from the first year.  If you are looking for a card with similar benefits and no annual fee, you might want to consider Capital One Cash Rewards for Newcomers which offers you almost the same benefits and cash back rewards for no annual fee.

However, if you prefer to have a 0% intro APR on purchases and lower ongoing interest rates, this Capital One Classic Platinum Credit Card might suit your needs the most.

Click here to go to Capital One’s official application to apply online for Capital One Classic Platinum Credit Card now.

• Credit Card Name
• Reward Type
• Introductory APR
• Typical APR
• Annual Fee

• Capital One® Classic Platinum Credit Card - Average
• Perks
• 0% Intro on Purchases until March 2013
• 17.9% - 22.9% (V)
• $39

• 0% intro APR on all purchases until March 2013
• $0 Fraud Liability if your card is lost or stolen
• Enjoy Platinum benefits, including 24-hour roadside assistance and extended warranty protection
• Pick an image for your card--choose the one shown here, any of the hundreds in our collection or add your own

• Additional Perks: 24-hour travel & emergency assistance gives you a replacement card and cash advance. 24-hour roadside assistance. Extended warranty program. Travel accident insurance. Auto rental insurance—use your card to rent a car and you’re covered for collision, damage and loss. No foreign transaction fees.

• A 0% introductory rate is available on purchases until March 2013.

• APR For Purchases: 17.9% - 22.9% (V)
• APR For Cash Advances: 24.9% (V)

• Annual Fee: $39
• Cash Advance Fee: 3% of amount of the cash advance, but not less than $10
• Balance Transfer Fee: $0
• Over The Limit Fee: Up to $29. We will only charge you an over-the-credit-limit fee if you choose to accept this option.
• Late Payment Fee: Up to $35

Read Our Review Of Capital One® Classic Platinum Credit Card - Average

Do you have average credit and would you prefer a card that offers you almost the same benefits and cash back rewards for no annual fee? Then apply online for Capital One Cash Rewards for Newcomers.

Click here to go to Capital One’s official application to apply online for Capital One Cash Rewards for Newcomers now.