Capital One Balance Transfer credit card review

2 min Read Published: 21 Oct 2020
Capital One Balance Transfer review In this article we review the Capital One Balance Transfer credit card. Although best known for offering credit to those with a low credit rating, this card is positioned for those with an "excellent" credit rating, offering an 18 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 18 months on balance transfers and 3 months on purchases
  • Representative APR: 24.9% variable
  • Fees: Up to 4% balance transfer fee
  • Perks: Credit limit of up to £6,000

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

Cons of Capital One Balance Transfer credit card

  • The balance transfer fee of up to 4% is high compared to many other cards, which could be off-putting to those with a larger sum to move over
  • You are not likely to be accepted if you have an income of less than £20k per year

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 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

For other options, check out our article "Best credit cards in the UK"

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