Capital One Balance Transfer credit card review

2 min Read Published: 19 Apr 2024
Capital one classic credit cardIn this article, we review the Capital One Balance Transfer credit card. This card is positioned for those with a less-than-perfect credit rating, offering a 24 month interest-free window for paying off a debt transferred from another card.

Key facts about Capital One Balance Transfer credit card

  • Best for: Those trying to juggle an existing debt with the requirement to make additional purchases over the short term.
  • Introductory offer: Interest-free for up to 24 months on balance transfers, 3 months on purchases (subject to eligibility)
  • Representative APR: 34.9% variable.
  • Fees: Up to 3% balance transfer fee.
  • Perks: Credit limit of up to £8,000.

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Pros of Capital One Balance Transfer credit card

  • There is no annual fee, although there is a balance transfer fee to take into consideration.
  • It offers a combination of an interest-free period for balance transfer and for purchases, making it a flexible option for those trying to achieve different goals by taking out the card.
  • The £8,000 credit limit is one of the largest on the market.

Cons of Capital One Balance Transfer credit card

  • The balance transfer fee of 3% is high compared to many other cards, which could be off-putting to those with a larger sum to move over.
  • There are no additional perks, such as cashback or rewards.
  • You must be aged 21 or over in order to be eligible.

How to manage your payments on Capital One Balance Transfer credit card

Cardholders can manage their accounts through the Capital One mobile app.

How to find out which credit card is best for you

You can use Money to the Masses partner Creditec* to quickly build a list of the credit cards that match up with your needs. By simply adding in a few basic details, you will get a tailored collection of the best credit cards for you. You can use your Creditec results to check how likely you are to be accepted for a certain card, which cards available to you offer the best rewards or find out what option will leave you with the lowest fees to pay. Creditec is able to check your eligibility without running a full credit check, which means your credit score will not be affected. Click this link to start your comparison*.

How to apply for the Capital One Balance Transfer credit card

The first step is to complete the Capital One eligibility checker. You will get a response in 60 seconds.

Alternatives to the Capital One Balance Transfer credit card



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