Capital One Balance Transfer Mastercard review 2020

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Capital One's credit card for applicants with lower credit scores.

You say: ★★★★★We say: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 34.94% (variable) p.a., your representative rate is 34.9% APR (variable).

34.9%

Representative APR

6 months

0% interest on money transfers

£0

Account fee

6 months

0% interest on balance transfers

Details

IssuerCapital One
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 6 months reverting to 34.94%
Balance transfer fee3%
Purchases34.94%
Purchases interest-free periodUp to 56 days
Money transfers0% for 6 months reverting to 34.94%
Cash advances34.94%
Min credit limit£200
Max credit limitSubject to status: £1,500
Additional cards available3

Expert review

Chris Lilly

Review by


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.

Expert review

Capital One is known for providing credit cards for bad credit, and this card is no exception, offering a competitive balance transfer deal for those with lower credit scores.

However, it comes with a maximum credit limit of £1,500, and the 0% interest period is only 6 months, which is reasonable for a card geared towards those with bad credit, but might not suit those struggling to pay off a large existing balance.

It’s also worth noting that the balance transfer facility comes with a 3% 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).

Pros and cons

Pros

  • Applicants with low credit scores may be eligible
  • No annual fee

Cons

    How does this card compare with other similar cards on the market?

    Table: sorted by representative APR, promoted deals first
    Data indicated here is updated daily
    Name Product Balance transfers Balance transfer fee Purchases Annual/monthly fees Rep. APR Incentive Link
    The NatWest Balance Transfer Credit Card (eligibility criteria apply)
    0% for 18 months reverting to 19.9%
    0.49%
    Transfers must be made within 3 months of account opening
    0% for 3 months reverting to 19.9% p.a. (variable)
    £0
    19.9% (variable)
    Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable), your representative rate is 19.9% APR (variable).
    Go to site
    More Info
    M&S Bank Transfer Plus Mastercard
    0% for 28 months reverting to 19.9%
    2.85% (min. £5)
    0% for 6 months reverting to 19.9%
    £0
    19.9% (variable)
    Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
    Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
    Check eligibility
    More Info
    The Royal Bank Balance Transfer Credit Card (eligibility criteria apply)
    0% for 18 months reverting to 19.9%
    0.49%
    Transfers must be made within 3 months of account opening
    0% for 3 months reverting to 19.9% p.a. (variable)
    £0
    19.9% (variable)
    Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable), your representative rate is 19.9% APR (variable).
    Go to site
    More Info
    M&S Bank Shopping Plus Mastercard
    0% for 20 months reverting to 19.9%
    2.9% (min. £5)
    0% for 20 months reverting to 19.9%
    £0
    19.9% (variable)
    Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
    Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
    Check eligibility
    More Info
    HSBC Balance Transfer Credit Card
    0% for 25 months reverting to 21.9%
    1.5% (min. £5)
    0% for 3 months reverting to 21.9%
    £0
    21.9% (variable)
    Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away.
    Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
    Check eligibility
    More Info
    HSBC Purchase Plus Credit Card Visa
    0% for 18 months reverting to 22.9%
    2.9% (min. £5) for transfers in first 60 days
    0% for 18 months reverting to 22.9%
    £0
    22.9% (variable)
    Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away.
    Representative example: When you spend £1,200 at a purchase rate of 22.9% (variable) p.a., your representative rate is 22.9% APR (variable).
    Check eligibility
    More Info
    first direct Credit Card
    0% for 27 months reverting to 18.9%
    2.29% (min. £5) for 3 months reverting to 2.9% (min. £5)
    18.9%
    £0
    18.9% (variable)
    Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable).
    More Info
    HSBC Premier Credit Card
    0% for 18 months reverting to 18.9%
    1.4% (min. £5)
    0% for 9 months reverting to 18.9%
    £0
    18.9% (variable)
    A selection of rewards from a range of partners. Earn 1 point for every £1 spent within the UK and earn 2 points for every £1 spent outside the UK. Points can be redeemed for shopping vouchers and frequent flyer miles.
    Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable).
    More Info
    John Lewis and Waitrose Partnership Mastercard
    0% for 18 months reverting to 18.9%
    2.9% (min. £5)
    0% for 9 months reverting to 18.9%
    £0
    18.9% (variable)
    Earn 1.25 points for every £1 spent in store or online at John Lewis, Waitrose and John Lewis Insurance. Earn 1 Point for every £4 spent elsewhere. Vouchers issued once customer reaches 500 points in Feb, Jun or Oct when vouchers are automatically issued to customers. Every 500 points is worth £5.
    Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable).
    More Info
    Santander Everyday Credit Card
    0% for 18 months reverting to 18.9%
    0% for 18 months reverting to 3% (min. £5)
    0% for 3 months reverting to 18.9%
    £0
    18.9% (variable)
    Retailer offers - 5 Welcome offers of up to 25% cashback at well-known retailers (must switch on Retailer Offers within 60 days of activating card).
    Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable).
    More Info
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    Compare up to 4 providers

    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.

    Repayment options

    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

    ★★★★★ — Excellent
    ★★★★★ — Good
    ★★★★★ — Average
    ★★★★★ — Subpar
    ★★★★★ — 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.

    We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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