New Capital One Credit Card!

[Anonymous]

This card seems like it is about to go live, but hasn't yet. Found out about it on accident. Doesn't show on the "all cards" page on CapitalOne site.

CapitalOne Platinum Preferred Card

$0 Annual Fee

2% on gas + grocery

1% on everything else

https://www.capitalone.com/credit-cards/platinum-preferred-rewards/

Don't want to waste an INQ but seems like it's ready to apply. Anyone want to give it a try? I have Costco Visa and AMEX BCP so it's useless to me but may be good for someone else.

[macinjosh]

Keeps throwing back to "Page not found"

[rbentley]

The link works for me and it appears that you can apply now.

It isn't very attracted to me, but may work with some people's profile. I'm wondering what the market is between this card and Quicksilver. With QS you get 1.5% on everything. Would it be worthwhile to you to get an extra half a percent cash back on gas and groceries and take half a percent less on everything else?

[kilroy8]

It comes up for me.

Maybe this will be offered instead of the old Platinum? Don't see a market, except for the starter card niche that the platinum was used for.

[macinjosh]

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@kilroy8 wrote:

It comes up for me.

Maybe this will be offered instead of the old Platinum? Don't see a market, except for the starter card niche that the platinum was used for.

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I got it to come up in Safari, but not Firefox. How strange. If I was in the market for a Cap1 card, I'd probably get this to get my foot in the door.

[Anonymous]

It seems to be a bridge between QSOne/Platinum to QS. QuickSilver/Venture/Savor all require "Excellent" credit according to CapitalOne. QSOne and Platinum require "Average" credit. Platinum Preferred requires "Good" credit, a tier that doesn't even show up on any other card offered by CapitalOne. I guess if you have better credit than average but can't qualify for the QS, it has no AF so it may be worth it. It also has the Earn a higher line feature, so it probably does the same credit steps as the Plat/QSOne.

[Anonymous]

Thanks for sharing op! This definitely bridges the gap between the starter cards and their excellent cards. 

A lot of disclosures listed, the main 2 that stuck out were Target and Walmart would not count as grocery. I know other cards may not code them as grocery as well, but just wanted to point it out since a lot of people grocery shop there. 

[KDKobes]

Yep comes up for me too, I wished that were an option when I was re-building my credit years ago or even a year ago 2% back on gas/groceries would've been nice. Really good option for those needing a rewards card with less than stellar credit.

[Anonymous]

Looking at the retail and travel protections. It has the option to transfer miles to airlines!

[HeavenOhio]

Thanks for the heads up, @Anonymous.

I'm seeing this card via the link above, and I'm also seeing it on Capital One's full list of cards.

It's definitely a subprime card. It has a $300 minimum credit limit, and applicants will be denied if they have two or more Capital One cards. Still, without an annual fee, it's good enough to keep around if desired. It can anchor one's AoOA (age of oldest account) or prop up one's history in general.

We saw some mentions of a "Platinum Preferred" card a few months ago. If I remember correctly, it was 1% on everything without category rewards. I'm not sure how people managed to obtain it, though, as it was never listed with Capital One's other cards.