Capital One Balance Transfer Mastercard review April 2019

Capital One Balance Transfer Mastercard
Capital One Balance Transfer Mastercard

Capital One’s credit card for applicants with excellent credit.

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).

Key features

IssuerCapital One
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 12 months reverting to 24.93%
Balance transfer fee2.9%
Purchases0% for 3 months reverting to 24.93%
Purchases interest-free periodUp to 56 days
Money transfers0% for 12 months reverting to 24.93%
Cash advances24.93%
Min. credit limit£500
Max credit limitSubject to status: £6,000
Additional cards available3
Annual/monthly fees£0
Balance transfer fee2.9%
Money transfer fee2.9%
Foreign usage charge (EU)2.75%
Foreign usage charge (rest of world)2.75%
Cash advance fee3% (min. £3)
Late payment fee£12
Exceeding limit fee£12
Additional card fee£0
Dormancy fee£0
Minimum Age21
Minimum income£20,000
AvailabilityAvailable to new customers
Representative example: When you spend £1,200 at a purchase rate of 24.93% (variable) p.a., your representative rate is 24.9% APR (variable).
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How does this card compare with other similar cards on the market?

Comparison ordered by representative APR with affiliated products shown first.
Updated April 22nd, 2019
Name Product Balance transfers Balance transfer fee Purchases Rep. APR Incentive Representative example
0% for 20 months reverting to 19.9%
2.9% (min. £5)
0% for 20 months reverting to 19.9%
19.9%
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).
0% for 12 months reverting to 19.9%
3% (min. £3)
19.9%
19.9%
Earn Asda vouchers every time you shop - 1% cashback on all Asda spend, 0.2% on all other transactions and 10% on selected insurance products. Once £2.5 is earnt a voucher can be downloaded to spend in Asda stores.
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).
0% for 28 months reverting to 19.9%
1.75% for transfers in first 60 days
0% for 6 months reverting to 19.9%
19.9%
Buy tickets for up to 3500 selected live events through Barclaycard entertainment and get 5% off tickets per year and exclusive pre-sale tickets on selected festivals with 10% off ticket prices. Save 5% on food and drink at all UK 02 Academy venues.
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).
0% for 20 months reverting to 19.9%
0% for transfers in first 60 days
0% for 6 months reverting to 19.9%
19.9%
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).
0% for 27 months reverting to 19.9%
2.7% for transfers in first 60 days
0% for 27 months reverting to 19.9%
19.9%
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).
0% for 26 months reverting to 19.9%
1.5% for transfers in first 60 days
0% for 6 months reverting to 19.9%
19.9%
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).
0% for 12 months reverting to 15.9%
0% for 3 months reverting to 2.4% (min. £5)
0% for 12 months reverting to 15.9%
15.9%
Representative example: When you spend £1,200 at a purchase rate of 15.9% (variable) p.a., your representative rate is 15.9% APR (variable).
0% for 12 months reverting to 17.9%
0% for 3 months reverting to 2.4% (min. £5)
0% for 12 months reverting to 17.9%
17.9%
Customers will be able to earn commission-free purchases abroad by using their Credit Card each time they make a purchase in Sterling. The calculation will be based on a 5:1 ratio - for example, £5 spent in Sterling will earn an allowance of £1 commission free-purchases abroad. Purchases abroad beyond the earned amount will be charged 2% commission.
Representative example: When you spend £1,200 at a purchase rate of 17.9% (variable) p.a., your representative rate is 17.9% APR (variable).
0% for 20 months reverting to 18.9%
3% (min. £3)
0% for 3 months reverting to 18.9%
18.9%
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).
0% for 18 months reverting to 18.9%
2.9% (min. £5)
0% for 9 months reverting to 18.9%
18.9%
Earn 1 point for every £1 spent in store or online at John Lewis, Waitrose and John Lewis Insurance. Earn 1 Point for every £2 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).

Compare up to 4 providers

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.

*Disclaimer: The offers compared on this page are chosen from a range of products finder has access to track details from and is not representative of all the products available in the market. Unless indicated otherwise, products are displayed in no particular order or ranking. The use of terms "Best", "Top", "Cheap" including variations, are not product ratings and are subject to our terms of use. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.

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