Interest on your credit cards can sneak up on you if not handled diligently. Luckily, there are credit cards out there that offer special introductory rates on balance transfers for new and potentially existing customers. Capital One is one of the largest issuers of credit cards in the United States, so if you are a Cap One customer in need of a balance transfer, it’s worth checking out its offers.
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Capital One Balance Transfer Offers
Capital One has three credit cards in its portfolio with an introductory APR offer for balance transfers. All the cards offer some sort of rewards—be it cash back or miles—in addition to being excellent options for you to transfer a balance. This means that once you’ve finished the balance transfer, you can use the card as a normal credit card to earn rewards on your purchases moving forward.
Quicksilver Rewards
The Capital One Quicksilver Cash Rewards Credit Card (rates & fees) is one of Capital One’s no-annual-fee rewards cards. It earns 1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel. It comes with a $200 cash bonus after spending $500 on purchases within 3 months from account opening.
Annual fee: $0
Balance transfer offer: 0% intro APR on purchases and balance transfers for 15 months, 19.99% - 29.99% variable APR after that; 3% balance transfer fee for the first 15 months, 4% at a promotional APR that Capital One may offer you
Balance transfer fee: Balance transfer fee applies.
VentureOne Rewards
The Capital One VentureOne Rewards Credit Card (rates & fees) comes with a $0 annual fee and earns 5 miles per dollar on hotels and rental cars booked through Capital One Travel and 1.25 miles per dollar on every other purchase.
You can earn 20,000 miles after spending $500 on purchases within 3 months from account opening, equal to $200 in travel.
Annual fee: $0
Balance transfer offer: 0% intro APR on purchases and balance transfers for 15 months, 19.99% - 29.99% variable APR after that; 3% balance transfer fee for the first 15 months, 4% at a promotional APR that Capital One may offer you
Balance transfer fee: Balance transfer fee applies.
SavorOne Rewards
The Capital One SavorOne Cash Rewards Credit Card (rates & fees) earns 3% cash back on dining, entertainment, popular streaming services and grocery stores (excluding superstores like Walmart® and Target®), 5% cash back on hotels and rental cars booked through Capital One Travel, 8% cash back on Capital One Entertainment purchases, and 1% on all other purchases. There is a one-time $200 cash bonus after spending $500 on purchases within the first 3 months from account opening.
Annual fee: $0
Balance transfer offer: 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; 3% balance transfer fee for the first 15 months, 4% at a promotional APR that Capital One may offer you
Balance transfer fee: Balance transfer fee applies.
How To Get a Balance Transfer Offer From Capital One
The best way to check for balance transfer offers from Capital One is by logging into your account and checking if you have one. Once in your account, the balance transfer offers are found under “Transfer a Balance” in the “I want to…” menu option.
If you don’t see anything in this space, it may mean that there is no special offer on your account. If this is the case, you can try calling the number on the back of your card. Sometimes the customer service representatives have access to non-public offers.
You may also receive targeted offers via email or regular mail if you already have a relationship with Capital One.
How To Do a Balance Transfer With Capital One
Before you start, make sure that you have the information for the accounts you want to transfer available. You will need the account numbers, payment addresses and amounts to be transferred. Once you have that, the process is slightly different depending on if you are new to Capital One or you are applying to one of these credit cards for the first time.
Existing Account Cardholders
- Log in to your Capital One account online.
- Click on “view account”.
- Once your account pulls up, click on “I want to…” and select “Transfer a Balance” under “Offers and Upgrades”.
- Once you select your balance transfer offer, you can enter the information about the account where you want to transfer the balance from.
New Credit Card Applicants
- Fill out a new card application on Capital One’s website (or at a branch in person).
- Submit your application and wait for it to process.
- Once the application is approved, you will be given an opportunity to transfer your balances.
- Enter the information for the accounts you wish to transfer balances from and submit.
Balances from other credit cards, personal loans, student and auto loans can be transferred to these Capital One accounts. Keep in mind, though, that Capital One will not process a balance transfer from one Capital One account to another within the same bank. If you have a balance in a Capital One account that you want to transfer to a lower APR card, you may want to check balance transfer offers from a different issuer.
There is no stated limit to the amount you can transfer into a Capital One credit card, but your overall amount plus the balance transfer fee may never exceed the credit line you are approved for on your new account.
All three cards reward you with either cash back or miles, but it is worth noting that you will not receive any rewards calculated on the amounts of your balance transfers as those rewards are calculated solely off of the purchases you make with your credit cards.
How Long Does a Balance Transfer Take With Capital One?
Balances transferred into Capital One accounts generally take between 3 to 14 days, depending on whether the transfer can be done electronically or via mail between the payee and Capital One.
Cardmembers are encouraged to continue making payments toward their original balances until they have been notified of completion of the transfer to avoid any late fees.
Capital One Balance Transfer Fees
The standard balance transfer fee for these credit cards offered by Capital One varies, see offer terms for details. Current Capital One cardholders may be eligible for special balance transfer offers, including a no-fee balance transfer option.
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Bottom Line
Capital One offers valuable options for credit cards with a lengthy intro APR offer for you to take advantage of and transfer any balance from high-interest accounts. That way, you can lower your interest payments, consolidate multiple balances into one card and have an easier time paying off that balance sooner.
