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 2020
Capital One's credit card for applicants with lower credit scores.
You say: ★★★★★We say: ★★★★★
Doing its job: 3/5
In a nutshell:
0% interest on money transfers
0% interest on balance transfers
|Balance transfers||0% for 6 months reverting to 34.94%|
|Balance transfer fee||3%|
|Purchases interest-free period||Up to 56 days|
|Money transfers||0% for 6 months reverting to 34.94%|
|Min credit limit||£200|
|Max credit limit||Subject to status: £1,500|
|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.
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
- Applicants with low credit scores may be eligible
- No annual fee
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.