Capitalone credit card minimun payment

Skint_Badger!

I have transfered all my other credit card balances to the Capitalone card to take advantage of there 0% intrest offer until 2007. The outstanding balance is just over £10.000. I have paid the 2% transfer fee on this amount. However, with the other cards that i transfered from were also 0% but coming to the end of the offer. The first statement i have had from Capitalone say that they want a minnimun payment of of over £300!! where the other cards only ever asked for £5 until the end of the 0% offer.

Does this sound right or have i missed something?

I transfered to Capital because i thought it would make things a bit easier and free up a bit more cash each month, but it would appear that it has done the reverse.

Mr_Pink_3

Skint Badger!

Paying £300+ minimum monthly payment for a debt of £10k sounds entirely accurate.

I don't have the Capital One T&Cs to hand, but would imagine it stipulates a minimum monthly payment of £5 or 3% of the outstanding balance, whichever is HIGHER.

Out of interest do Capital One cap their balance transfer fees or did you have to pay 200 big ones ie. 2% of the £10k?

YorkshireBoy

Mr_Pink wrote:

Out of interest do Capital One cap their balance transfer fees or did you have to pay 200 big ones ie. 2% of the £10k?

The Capital One BT fee is uncapped.

It sounds like the OP has transferred from an MBNA run card(s).