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Capital One balance transfer credit cards
Capital One has temporarily removed this intro offer from its cards.
Updated . What changed?
Update: As of January 2021, some Finder staff have received new balance transfer offers from Capital One on existing card accounts. It’s currently unclear which cardholders and cards are eligible, and cards for new applicants remain without these offers. Still, these targeted offers may indicate that Capital One is slowly moving toward restoring this feature across it’s card lineup. To see if your Capital One credit card qualifies for one of these offers, check the email account associated with your Capital One account.
Compare Capital One balance transfer credit cards
Capital One offers excellent credit cards for all tastes — there are secured cards for building credit, student cards, cashback cards and travel cards. And even though none of the cards offer a 0% intro APR period at the moment, you can still find some of the best credit cards.
What's in this guide?
- Compare Capital One balance transfer credit cards
- Capital One balance transfer: benefits and drawbacks
- How to apply for a balance transfer with Capital One
- What debts are eligible for a balance transfer with Capital One?
- I got the card. Now what?
- Alternatives to Capital One balance transfer cards
- Bottom line
- Frequently asked questions
Capital One balance transfer: benefits and drawbacks
Consider making a balance transfer with Capital One if these benefits resonate with you.
- Balance transfer intro APRs.
Capital One may offer balance transfer intro APRs that last up to 15 months. However, the issuer periodically removes these promotional interest rates, so check each card’s terms to make sure.
- No annual fee.
This helps lower the overall cost of your balance transfer.
- Potentially low ongoing APR.
If you have excellent credit, you’ll likely qualify for a low ongoing purchase and balance transfer APR with cards such as the Capital One® SavorOne® Cash Rewards Credit Card, which is as low as a 15.49% variable.
- Rewards.Capital One® SavorOne® Cash Rewards Credit Card offers strong rewards even after your intro APR expires — notably, 3% cash back on dining and entertainment. Capital One® Quicksilver® Cash Rewards Credit Card offers 1.5% cash back on all purchases.
- Balance transfer fee promotions.
Capital One usually offers no balance transfer fees for transfers you make at the normal APR. But transfers made outside the intro APR period accrue interest immediately.
Here’s why Capital One may not be the best balance transfer provider for you:
- Few options for balance transfer intro APR.
Only two cards tend to offer balance transfer intro APRs: the Capital One® SavorOne® Cash Rewards Credit Card and Capital One® Quicksilver® Cash Rewards Credit Card. What’s more, Capital One doesn’t always offer promotional rates for these products.
- 10-day waiting period.
After account opening, there’s generally a 10-day waiting period before you can make a balance transfer request. Many other providers let you request balance transfers as you apply for your card.
- Look elsewhere for intro APR and $0 transfer fees.
If you want both at the same time, consider the Chase Slate® credit card, or the BankAmericard® Credit Card or other similar options.
Top picks for Capital One balance transfer cards
Note that both these cards once offered a 0% intro APR period on balance transfers, but no longer offer this benefit. However, it’s likely the perk will be available in the future, which is why we selected these two cards as our top picks.
Capital One® Quicksilver® Cash Rewards Credit Card®
The Capital One® Quicksilver® Cash Rewards Credit Card is an excellent cashback card with an unlimited 1.5% cash back on all purchases. What’s more, you get to earn a decent signup bonus and use a long intro APR period on purchases.
- Cash back. Earn 1.5% cash back on all purchases.
- Signup bonus. Earn a $150 cash bonus after you spend $500 in your first 3 months of card membership.
- Intro APR on purchases. Get 0% intro APR period on purchases for your first 15 months. After that, a variable APR of 15.49% to 25.49% applies.
Capital One® SavorOne® Cash Rewards Credit Card
This is one of the best credit cards for earning rewards on dining and entertainment. Plus you get to earn a decent signup bonus and you won’t pay an annual fee.
- Cash back. Earn unlimited 3% cash back on dining and entertainment, 2% back at grocery stores (excluding superstores like Walmart and Target) and 1% back on all other purchases. You also earn unlimited 5% cash back on Uber Eats until January 31, 2021.
- Signup bonus. Earn a $150 cash bonus after you spend $500 in your first 3 months when you open your account.
- Intro APR on purchases. Use a 0% intro APR period on purchases for your first 15 months of card membership. Your APR reverts to a variable 15.49% to 25.49% after that.
How to apply for a balance transfer with Capital One
- Choose a Capital One card and check its balance transfer details.
You can see the product’s terms near the bottom of the card page. Verify the intro APR, if applicable, and the range of ongoing APRs. Then click Apply now.
- Fill out the application.
Complete the form with information such as your name, address, contact details, employment status and annual income.
- Look for a balance transfer checkbox.
If given the option, select Yes under If approved, do you plan to transfer any balances from other non-Capital One credit cards? You’ll have the opportunity to request a transfer after you’re approved.
- Wait for approval.
In many cases, you’ll receive an immediate decision on your application. If Capital One needs to review your application further, look for a decision within seven to 10 business days.
- Wait several days before requesting a transfer.
According to Capital One, you can request a transfer 10 days after account opening.
- Request a balance transfer.
Log in to your Capital One online account, or call the number on the back of your card and speak with a representative. You’ll need information such as the number of your old card account and how much you wish to transfer.
- Wait for your balance transfer to complete.
Keep paying your current creditors until your balance transfer is done. This will help you avoid late fees and hits to your credit score. According to Capital One, a transfer usually takes three to 14 days.
You may be eligible to apply for a Capital One card if:
- You’re at least 18 years old.
- You have a valid Social Security number or taxpayer ID.
Some conditions may make you ineligible, including:
- Your monthly income doesn’t exceed your monthly rent or mortgage payment by $425.
- You’re incarcerated.
- You’ve applied for a Capital One product two or more times in the last 30 days.
- You have five or more open card accounts with Capital One.
- One of your Capital One card accounts is past due or over limit.
- One of your Capital One cards has been charged off within the past year. Learn more about charge-offs and debt collection in our quick guide.
- You have a non-discharged, or unresolved, bankruptcy.
What do I need to apply?
Here’s what you’ll need for a Capital One application:
- Full name
- Date of birth, Social Security number and citizenship status
- Residential address, email address and primary phone number
- Employment status, total annual income, monthly rent or mortgage, checking or savings account status and credit card spend per month
What debts are eligible for a balance transfer with Capital One?
You can transfer debt from
- Non-Capital One credit cards.
- Other balances such as personal loans, student loans and auto loans.
You can’t transfer debt from
- Capital One-issued accounts.
Can I transfer balances to another Capital One card?
No. You also can’t transfer balances from these cobranded Capital One-issued products:
- Bass Pro Shops CLUB
- BuyPower Card
- Union Plus
- Teamster Privilege
Providers typically use balance transfer offers to lure customers from other banks. If you’re already a Capital One customer, there’s no need for the bank to spend money to acquire your business — hence the lack of balance transfer options.
I got the card. Now what?
- Close existing accounts if you wish. Call existing providers to close accounts you’ve transferred balances out of. Note that this may lower your credit score because it changes your utilization ratio.
- Make a plan to pay off your transfer. Consider paying off your transfer before your intro APR expires. You can clear your debt more easily by breaking your balance down into monthly payments.
- Make payments on time. This will help you avoid late fees and, in certain cases, loss of your intro APR. Consider setting up automatic payments.
- Contact customer support. If you have questions about your balance transfer, call the number on the back of your card. You can also call 800-227-4825 or tweet the bank @AskCapitalOne.
Alternatives to Capital One balance transfer cards
Considering you don’t get a 0% intro APR period on balance transfers at the moment with any Capital One credit card, you may want to consider other credit card options.
- U.S. Bank Visa® Platinum Card. This card has one of the longest 0% intro APR period on balance transfers you can currently get. On the downside, you won’t earn any rewards on your purchases.
- Citi® Double Cash Card. This card also has a very long 0% intro APR period. But that’s not the only feature that makes this card great. Once you pay off your balance, you can earn 2% cash back on all purchases — 1% back when you make the purchase and 1% back when you pay it off.
- Wells Fargo Propel American Express® Card. Aside from getting a decent 0% intro APR period on balance transfers, you also get to earn a higher rewards rate on dining and various travel purchases. If you’re willing to sacrifice a few months of an interest-free period, you can get a solid rewards credit card.
- 0% Intro APR for 18 months on purchases from date of account opening and 0% Intro APR for 18 months on balance transfers from date of first transfer. After that the variable APR will be 14.74% - 24.74%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
- There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater
- Get free access to your FICO® Score online.
- With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
- Shop with confidence knowing that you have dependable protection benefits, including $0 Liability on Unauthorized Purchases and Citi® Identity Theft Solutions.
- The standard variable APR for Citi Flex Plan is 14.74% - 24.74%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
While only two Capital One cards offer intro APRs, they come with rewards and strong 0% intro APR periods.
If you’re not sure a Capital One card is best for you, consider other cards for balance transfers.
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