Capital One 0% BT

roundthebend_3

Hi

I've got 2 credit cards, one with a big balance the other with medium balance. We've been working on our finance management recently and have managed to control their use so we're now trying to pay them off. The big balance attracts over £100 per month in interest, the smaller one about £25. We pay the minimum on the large one and £50 on the smaller one. I figure it'll take years and cost us a fortune, so I want to find a 0% balance transfer.

Capital One posted something through my door. 0% until October 2007 and only a 2% service charge. Sounds good. That'll save me £150 per month for over a year, which means I could potentially pay off more of the debt.

Should I be concerned about Capital One? I'm always sceptical of companies that send regular invites to borrow money. In particular there is a small bit in the agreement that says:

CapitalOne_T&C wrote:

Total charge for credit:
At the time the agreement is made, is £123.63
comprising interest in the sum of: £123.63.

Other than that it sounds like a good deal. I hope they agree the credit limit I need to cover both existing credit cards.

Any input?

Cheers

grumbler

Regarding Total Charge see, for example, this thread: 0.00% Pa BT confusion ...

gazza975526570

Ive used capital one twice, well once previously.

They whee fine in the runnin g of the account in general however the customer service was poor if ever you had the need to call. Its one of those where for standard calls your fine but anything slightly out of the ordinary they really done know what to say hence i closed that account 2 years ago.

I have jus recently taken advantage of the same offer of you and received my card today. Took 2 weeks after signing the form to receive cards however so none too pleased. Reasonably ok with credit limit at £8k and plan on transferring o/s balances from halifax one and barclaycard ive workd out eve with the BT fee this will save me about a grand over the intro period.