The Capital One Platinum Card from American Express is a great credit card. It has earned its way into the top ten credit cards for 2021. The Capital One card has a cash back reward program, which means you can earn five percent back on all your purchases. There are also no annual fees attached to this card. This means that if you use your card regularly, you will never pay a penny extra on your credit card limit.
But there's a catch to all of that good news. If you happen to be a customer with the Capital One Card, then you cannot make any purchases above a certain amount each month. So if you do happen to use your credit card beyond the fifty percent off line maximum, then you will owe the charge back the full amount, including any interest and fees. Now, you might say to yourself “Whew, if only I knew about this when I first applied for a card!”
Of course, this one small rule does cost the card company money. They make money on the interest paid on the account. But in the long run, they will be better off because people will pay more attention to their credit card's limits and spending habits. So the Capital One Platinum Card has good rewards, but the catch makes this one card not so great if you want to build a credit card history.
This one rule might scare some people off of the Capital One Platinum Card, but it's actually a good one. After all, the card issuers are making money off of their clients, just as you are by paying your monthly bill. The issuers know that if they raise their credit card limit, people will pay more, so they like the one dollar limit.
However, after one year of credit card use, you'll be able to charge an extra twenty dollars onto the card, increasing your limit. This means you can now spend an extra twenty dollars whenever you'd like. If you don't charge anything, you won't have any credit card limits, because nobody will have ever taken out a card from you. This is a great way to build credit and establish yourself as a good consumer. It also helps you avoid paying cash, which always costs more than using a debit card or e-check.
The other feature of the Capital One card that's a little annoying is that it automatically charges your monthly bill. Every month, without you even having to lift a finger, the card companies are sending your bill. This could cause problems if you're the kind of person who likes to read his or her bill every month. If you happen to miss a payment, say because you were too busy with work, then you will be charged a late fee.
The good news is that if you know how to correctly use the features of this credit card, then you can actually abuse the capitol one platinum card limit. If you use this card to pay for certain expenses, but not others, then the limit won't kick in until you actually use up the entire card limit. Once you've used up all of the available credit on the card, the limit will kick in. Because of this, it is often used by people who only use one credit card or a smaller number of cards.
Of course, abusing the credit card limit isn't illegal, nor is it against the terms of the Capital One Card policy. As long as you know how to make use of the card, you don't need to worry about being caught. It's designed to give you more flexibility to control spending. You just need to know how to make use of it correctly. That's what the guide above is supposed to do for you.
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