Capital One offers a number of competitive balance transfer credit cards, including several 0% balance transfer credit cards, which are clearly the most sought after.
However, they certainly aren’t the most aggressive card issuer out there, as their offers always seem to come with a balance transfer fee if the intro APR is north of 0%. This counters many credit unions that offer 0% APR and an intro balance transfer fee of $0.
Of course, many of those offers are regional, and not available to everyone.
But if you have credit card debt with the other major issuers (Amex, BofA, Chase, Citi, Discover, HSBC, Capital One may be a good candidate to take on your debt. This is especially true if they accept applicants with lower credit scores and you happen to be one of those people.
Capital One Balance Transfer Offers:
Capital One QuicksilverOne – Capital One is currently offering intro APR of 0% on balance transfers for around nine months with no balance transfer fee. The drawback is there’s an annual fee of $39 so it’s not truly free.
If you transfer an amount less than $1,300 you’re better off going with a balance transfer credit card that charges you a 3% balance transfer fee without an annual fee and longer 0% APR, such as 12 months or more. That’s because it would only cost that much in interest over a full 12 months, and less as you paid off the balance.
However, you can get approved with average credit (Capital One says this themselves so it must be true), meaning it’s still a balance transfer offer worth looking at for some folks.
Capital One Quicksilver Cash Rewards – Alternatively, you can apply for the regular version of the card that offers 0% APR for the same amount of time without an annual fee but with a 3% balance transfer fee. This might make sense if you transfer less than $1,300, as I mentioned. However, you need excellent credit, per Capital One.
Their 0% APR credit card offers can help you avoid paying any credit card finance charges for nearly one year, which can certainly be helpful.
Sadly, these are the only Capital One 0% APR balance transfers available at the moment. It’s kind of slim pickings right now but there’s another way to get your hands on what might be a targeted balance transfer offer from Capital One.
Tip: Watch out for not-so-good balance transfer options like their VentureOne Rewards card, which at the moment doesn’t charge a transfer fee but has APR well above zero, as seen in the screenshot above. The double-digit APR kind of defeats the purpose of the transfer.
Capital One Cardholders Can See Balance Transfer Offers Online
If you’re an existing Capital One cardholder, it’s easy to see the latest balance transfer offers currently available to you.
Simply log-in to your account online and click on “balance transfers” to see what offers, if any, you can take advantage of.
Capital One also has a pre-qualified credit card finder, which will tell you in 60 seconds if you qualify for any of their credit cards, including balance transfer credit cards.
It doesn’t require a credit pull, so your credit score will not be affected. This is a good way of determining if you’re eligible for a balance transfer, without having to go through the application process, only to find out that you were denied.
Additionally, Capital One frequently sends balance transfer checks to existing customers in the mail, which can also be utilized. They can be deposited straight into your checking account.
However, these checks may not come with the best terms, so be sure to comparison shop online a bit before taking up one of their offers that comes to you.
Sure, it’s convenient because you can use them instantly by depositing to your bank account, but a better deal might be available elsewhere.
Capital One Balance Transfer Tips
All in all, Capital One has some decent balance transfer offers available to those with average to excellent credit, though offerings are limited at the moment.
But be sure to check them out when shopping for a balance transfer, especially if you have credit card balances with rival credit card companies. Or if your credit isn’t good enough to get approved with the other major issuers.
Another nice advantage is that Capital One may not yet be in your credit card arsenal, which means you’ll be able to transfer any other balances without having to worry about them being from the same bank.
You’re also able to transfer balances from personal loans, student loans, and auto loans issued by companies other than Capital One.
Additionally, note that the Capital One balance transfer fee tends to 3% of the amount transferred, though they sometimes offer specials such as the quasi no-fee offer above.
Lastly, know that a Capital One balance transfer can take anywhere from 3–14 days to process, per the company. As always, plan for the worst and give yourself enough time to avoid missing any payments during the transfer process.
If none of these offers suit you, be sure to check out rival card issuers and/or local credit unions in your area that offer 0% intro APR balance transfer.
Darn that annual fee on the no-fee offer. Kind of misleading.
what can I get from 160,783 reward total I have accrued from my purchases with my capital one credit card ? What do you offer in exchange for this reward total?
Sounds like a question for Capital One, but congrats on that massive points balance!
can I order for a free credit card with money inside and pay back later is that possible
With a 0% APR card, you can borrow for free and make just the minimum payment each month during the introductory period (generally the first 12-15 months). But eventually you do need to pay it all back and preferably before the APR goes to the normal rate above 0%!