Capital One - 0% 9 month no handling fees

crankup

Today I had a Capital One cc junkmail letter through the post. As usual it offered me 9 months 0% BT. But at the bottom it had in bold:-
"PS Apply Now for 0% interest on balance transfers and purchases for 9 months and no handling fees!"

I've read warnings in the past of carefully hidden charges with Capital One products - is this genuinely fee free? I've scanned the T&Cs and cannot find anything obvious.
My current stooze is coming to an end so this is tempting

YorkshireBoy

I haven't seen, or heard of, one of these offers since late 2005.

If you're certain there's no fee I would definitely go for it. Since it has 0% on both BT's and purchases, you have so many options to keep the stooz pot topped up. For example, you can either re-cycle the hefty 3% minimum payments by BT'ing from Egg Money (and on to the stooz pot) each month fee-free, or simply spend them by making purchases.

Can I ask...have you previously been a Capital One customer, or do you have a savings account currently? Or did this come straight 'out of the blue'?

Finally, was the application form pre-completed with your name and address, or was it a blank form and covering letter?

ricflairandy

Im cancelling a capital one credit card tomorrow so ill try and get this offer out of them

Milarky

crankup wrote:

Today I had a Capital One cc junkmail letter through the post. As usual it offered me 9 months 0% BT. But at the bottom it had in bold:-
"PS Apply Now for 0% interest on balance transfers and purchases for 9 months and no handling fees!"

I've read warnings in the past of carefully hidden charges with Capital One products - is this genuinely fee free? I've scanned the T&Cs and cannot find anything obvious.
My current stooze is coming to an end so this is tempting

As long as the summary box says nothing about BT fees (against 'charges' descriptor) then it will be as you say..

ricflairandy wrote:

Im cancelling a capital one credit card tomorrow so ill try and get this offer out of them

Wait at least one month before reapplying - that is the period used by Capital One for accepting you as a new customer. (No guarantee of being accepted of course.)

dadrock

Good idea about Egg Money - thanks.

Clariman

Interesting. Was it a junk mail letter specifically addressed to someone or was it an offer that fell out of a newspaper/magazine ?

dov

I got this offer by post and have applied and waiting response. My brother got the one with 2% fee a week later.

Milarky wrote:

Wait at least one month before reapplying - that is the period used by Capital One for accepting you as a new customer. (No guarantee of being accepted of course.)

They ask you on application if you have had a Capital One card in last 6 months, so you might need to wait 6 months to be considered a new customer.

Milarky

dov wrote:

They ask you on application if you have had a Capital One card in last 6 months, so you might need to wait 6 months to be considered a new customer.

In fact they state:

[FONT=Arial, Helvetica, sans-serif] Please do not apply if you already have a Capital One credit card, you have applied for one in the last 6 months or if you are not a UK resident[/FONT]

So, if you close your account shortly before you then apply, there is no reference to the 6 months time-bar. After reading that I decided to apply about one month after closing a previous account I held with them - and I was accepted. Other posters have confirmed the same thing - Capital One will treat you as a 'new' customer only one month after closing an existing account and allow you to apply in that time frame. [This was in Spring 2005]

dov

Thanks for the clarification, I don't have the appliation form with me so I was writing from memory, though it probably states it online aswell.

crankup

Thanks for the replies.
I have never been a Capital One customer before. I reckon I get a junk ad once a month at least from them, this time it being interesting.
The credit agreement form has my name & address printed on it.

There was a separate flyer with "3 quick steps to transfer your balance" on it. That mentioned a 2% handling fee, but them main form has the extra bold statement. I'll give it a go and report back if there's any problems.

Cheers.

jojo1978_3

Milarky wrote:

In fact they state:

So, if you close your account shortly before you then apply, there is no reference to the 6 months time-bar. After reading that I decided to apply about one month after closing a previous account I held with them - and I was accepted. Other posters have confirmed the same thing - Capital One will treat you as a 'new' customer only one month after closing an existing account and allow you to apply in that time frame. [This was in Spring 2005]

Capital One state that you only have to wait for 1 week before reapplying, the reason they ask if you have applied in the last 6 months is because they won't accept you if you have been declined in the last 6 months