Capital One Balance Transfer Card Offers Of April 2023 – Forbes Advisor

Your credit card interest can sneak up on you if it’s not handled diligently. Fortunately, there are credit cards out there that offer special introductory rates for balance transfers to not only new customers, but potential existing customers as well. Capital One is one of the largest credit card issuers in the United States, so if you’re a Cap One customer needing a balance transfer, it’s worth checking out the offers available.

Capital One Balance Transfer Offers

Capital One currently has three credit cards in its portfolio with a 0% introductory period for balance transfers. All cards offer some sort of reward — be it cash back or miles — in addition to being an excellent option for you to transfer your balance. This means that once you complete a balance transfer, you can use the card as a normal credit card to get rewards on your next purchase.

Let’s dive into the details to see which one best suits your needs.

Quicksilver Prize

The Capital One Quicksilver Cash Rewards Credit Card is one of Capital One’s no-annual fee gift cards. This results in 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 of account opening.

Annual fee: $0

Balance Transfer Offer: Introduction of 0% on balance transfers for 15 months

Balance Transfer Fee: The fee for balance transfers is 3% of the amount transferred for each balance.

VentureOne Prize

The Capital One VentureOne Rewards Credit Card comes with a $0 annual fee and will earn you 5 miles per dollar on hotels and car rentals booked through Capital One Travel and 1.25 miles per dollar on every other purchase.

You can earn 40,000 miles after spending $1,000 on purchases within 3 months of account opening, equivalent to $400 in transit.

Annual fee: $0

Balance Transfer Offer –Introduction of 0% on balance transfers for 18 months

Balance Transfer Fee – There is a balance transfer fee of 3% of any amount transferred to this account.

SavorOne Prize

Capital One SavorOne Cash Rewards Credit Card gets 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 cash bonus of $200 after spending $500 on purchases in the first 3 months of account opening.

Annual fee: $0

Balance Transfer Offer: Introduction of 0% on balance transfers for 15 months

Balance Transfer Fee: The balance transfer fee is 3% of the amount transferred, for each balance you transfer.

How To Get Balance Transfer Offers From Capital One

The best way to check for balance transfer offers from Capital One is to log in to your account and check if you have any offers for balance transfers. After logging in to your account, the balance transfer offer is found under ‘balance transfer’ in the ‘I want to…’ menu option.

If you don’t see anything in this space, it may mean that there are no special offers in your account. If so, you can try calling the number on the back of your card. Sometimes telephone representatives have access to non-public offers that are not shown on the website.

You can also receive targeted offers via email or regular mail if you already have a good relationship with Capital One.

How to make a balance transfer with Capital One

Before you start, make sure you have the information for the account you want to transfer. You need the account number, payment address and the amount to be transferred. Once you have one, the process is slightly different depending on whether you are new to Capital One or your first time using one of these credit cards.

Existing Account Card Holder

1. Log in to your Capital One account online.
2. Click ‘view account’.
3. Once your account is active, click ‘I want…’ and select ‘balance transfer’ under ‘offers and upgrades’.
4. After you select a balance transfer offer, you can enter information about the account you want to transfer the balance to.

New Credit Card Applicants

1. Fill out the new card application on the Capital One website (or in person at the branch).
2. Submit your application and wait for it to be processed.
3. Once the application is approved, you will be given the opportunity to transfer your balance.
4. Enter the information for the account you want to transfer the balance from and send it.

Balances from other credit cards, personal loans, student loans and auto loans can be transferred to this Capital One account. Please note, that Capital One will not process balance transfers from one Capital One account to another account at the same bank. If you have a balance in your Capital One account that you’d like to transfer to a lower APR card, you may want to check out balance transfer offers from other issuers.

There is no stated limit to the amount you can transfer to a Capital One credit card, but your total amount plus the balance transfer fee must not exceed the credit limit you agreed to for your new account.

All three of these cards reward you with cash back or miles, but it’s worth noting that you won’t receive any rewards calculated on your balance transfer amount as they are calculated only from purchases you make with your credit card.

How long does a balance transfer take with Capital One?

Balances transferred to Capital One accounts generally take between 3 and 14 days, depending on whether the transfer can be made electronically or by letter between the payee and Capital One.

Card Members are strongly encouraged to continue making payments to their initial balance until they are notified of the completion of the transfer to avoid late fees.

One Balance Capital Transfer Fee

The standard balance transfer fee for credit cards offered by Capital One is 3% of the amount transferred on each balance.
Current Capital One cardholders may qualify for special balance transfer offers, including a no-fee balance transfer option.

The main thing is

Capital One offers a valuable option for a credit card with a 0% APR for more than a year so you can take advantage of and transfer any balance from a high interest account. That way, you can lower interest payments, combine multiple balances into one card, and more easily pay off those balances more quickly.