Capital One 18 Months 0% Catch

Zygorf_2

Hi

Looking for some advice or experience.

I have noticed that on the capital one website they are doing an 18 month 0% on balance transfers as long as you spend £100 on the card. Obviously the catch is this £100 is charged at 15.94% until the balance transfer is paid off first.

Could I spend £100 on the card, pay it off in full immediately and then do the balance transfer to get 18 months at 0% without the £100 sitting in the background?

I do not see anything in the terms preventing this.

Thanks

GlennTheBaker

I don't see why not. I did a smiliar thing with the Amazon MasterCard to get the Amazon voucher. Spent a couple of quid in Sainsburys, waited for it to appear on my online account, paid it off and then BT'd the whole credit limit.

jojo1978_3

Zygorf wrote:

Hi

Looking for some advice or experience.

I have noticed that on the capital one website they are doing an 18 month 0% on balance transfers as long as you spend £100 on the card. Obviously the catch is this £100 is charged at 15.94% until the balance transfer is paid off first.

Could I spend £100 on the card, pay it off in full immediately and then do the balance transfer to get 18 months at 0% without the £100 sitting in the background?

I do not see anything in the terms preventing this.

Thanks

i don't think there is anything stopping you from doing this, the only thing i would advise is that if you don't do the balance transfer on the application, it can affect the amount of credit limit you get, check out this page.

http://www.capitalone.co.uk/web/raid/templates/cardlist_temp_10_001.jsp?page_id=13000&context_id=2&pageId=13000

Hannibal_Smith

I received a flyer for this very offer and it states that the balance transfer has to be paid off before the £100 purchase. There is also a 2% handling fee. At 15.9% over 18 months, how much would it cost to settle the £100?

Smitty

At worst, the £100 sat on there for 18 months will cost you £23.94