Credit Cards from Capital One, the Platinum Prestige Credit Card

08-11-2009

The Capital One Platinum Prestige credit card is one of the credit cards marketed by Capital One targeted for consumers that have excellent credit.  This credit card comes with zero percent credit card rate during the introductory period and then adjusts to 11.90% on a variable rate after the end of the introductory period.

The Capital One Platinum Prestige credit card comes with a number of benefits found on Capital One MasterCard credit cards, including; $0 fraud liability protection, 24-hour travel and emergency assistance, 24-hour roadside assistance, extended warranty protection program, travel accident insurance and auto rental insurance coverage.

The Capital One credit card short guide to describe an individual with excellent credit includes: a credit card applicant who has never been more than 60 days late on a credit card, medical bill or loan payment.  An applicant who has a credit card with a credit limit greater than $10,000.00.  An applicant who has had a loan or credit card for at least five years and someone who has never filed bankruptcy.

The credit card rate for purchase transactions after the introductory rate of zero percent is determined by adding 8.65% to the Prime rate.  The credit card balance transfer APR may vary quarterly with the rate being determined by adding 8.65% to the Prime rate.  The credit card cash APR is determined by adding 21.65% to the Prime rate.  The default APR is determined by adding 26.15% to the Prime rate.   

Capital One does not follow the general industry policy of raising credit card rates for universal default.  Universal default permits a credit card company to increase your APRs simply because you fail to make a payment on a loan with another lender or your credit history contains other negative information.

If a credit card account holder makes a payment that is received late which is defined  as 3 or more days after the credit card  payment due date, twice within any 12 billing periods, the credit card APRs may be increased to the Default APR for the credit card.
 
With the combination of a zero rate introductory offer, a low standard credit card rate, no annual fee and no Universal default nonsense, this credit card is compares well with other credit cards for indiviuals with very good credit.

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