Capital One, new offer?

Verbatim

Received offer from Capital One today for 0% BT until September 2007 conditional on spending £100 on card before July 06. If choosing not to spend £100 on card by then the 0% deal ends Sep 06. Either way a handling fee of 2% of your BT amount will be "applied" to the account, no annual fee.

Can't see anywhere that the BT(s) have to be made at the time of taking out the card so it might be possible to get the card, spend £100 on it, pay it off in full and then BT later. I'd prefer to find a 0% card without a fee nearer the time I need it, but they're getting scarce.

The credit limit is stated to be up to £25k if transferring a balance on application and up to £10k if not. Minimum BT is £50 and can be up to credit limit less £100.

T & Cs state that the way payments are applied means that handling fees and and interest are paid before BTs and purchases so am I right in thinking that as long as the handling fee was paid with the minimum payment on the first month after a BT was made there would be no interest to pay?

Has anyone else had one of these?

Bokken_2

I've had the offer but turned it down due to the uncapped transfer fee.
Grumbler was explaining this one one of the pages here and pointed out although it says a limit up to 25k,in practise that limit may well be a lot lower.
Ref;your fee payment in the first month ,I paid a fee on a BT to A&L and it was removed along with the first payment so it did not stay on the account building up interest.
Not sure if that will apply in your case .phone up customer services and ask them to explain it.

Cumbrian_Male

Verbatim wrote:

T & Cs state that the way payments are applied means that handling fees and and interest are paid before BTs and purchases so am I right in thinking that as long as the handling fee was paid with the minimum payment on the first month after a BT was made there would be no interest to pay?

It T & C's state fees and interest before B/T and purchases then as long as payment covers the whole fee amount you should only be left with the transfer.

Spend £100 pay it off then transfer and pay fee off, but BEWARE is the fee uncapped?

Verbatim

Yes, uncapped.

richgirl

and only 3 months interest free for spending, so you cannot spend anything on it

Andybez38

Sorry for butting in on this thread. I have not got the best of credit ratings so as a way to improve things, i applied for the capital one classic card. I was accepted for this and was given a £1k limit on it. After a few months of spending and paying off my balance in full each month, they upgraded me to a so called capital one goldcard and raised my limit to £2k. There were no benefits i could see from them doing this as the intrest remained at the usual 29.9% Apr. I have now closed this account after having it for 16 months. No payments missed. What i am now wondering is do i stand a better chance of being accepted applying for a capital one platinum card. I do have a (settled)default on my account which is due to come off in september 2006. With passed dealings with capital one would they still do a credit check or is it worth waiting till september to try.

Bokken_2

Have a look at the other thread andybez as I have posted there and I am sure others will also.

Weymouth_Man

Down to my last six pens now, it was a bit boring at times, with all these loans I was offered. :beer: