Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.
Capital One Balance Transfer Mastercard review November 2019
Capital One's credit card for applicants with excellent credit.
Finder rating: ★★★★★
Doing its job: 3/5
In a nutshell:
0% interest on balance transfers
0% interest on money transfers
|Balance transfers||0% for 12 months reverting to 24.93%|
|Balance transfer fee||2.9%|
|Purchases||0% for 3 months reverting to 24.93%|
|Purchases interest-free period||Up to 56 days|
|Money transfers||0% for 12 months reverting to 24.93%|
|Min. credit limit||£500|
|Max credit limit||Subject to status: £3,000|
|Additional cards available||3|
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
While Capital One is usually better-known for providing credit cards for bad credit, this card is a competitive balance transfer deal for those with good credit ratings. Applicants will also need to be earning at least £20,000 annually.
It’s worth noting that the balance transfer facility comes with a fee attached, and that after the 0% introductory period any outstanding balance will start to accrue debt at the card’s standard purchases rate (see table below).
How does this card compare with other similar cards on the market?
When it comes to repayments, you can make manual repayments online or over the phone (03444 812 812), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
How to apply for the Capital One Balance Transfer Mastercard
If you have compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you will need to make the process as straightforward as possible.
Finder credit card ratings
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★★★★★ — Poor
Our team evaluates credit cards to determine their value against similar products on the market.
We look at the how good the card is for its designated purpose – spending abroad, clearing debt, earning air miles etc. – how costly it is to use day-to-day and whether it offers much in the way of extras.