18 Months Interest Free with Capital One

Gotabiscuit

If one has 2 bank accounts which account does one put on the application form?

I'd go for the one you've had the longest. I think they like to see a bit of history with financial institutions.

Nickynoo1

Hi,
I've went to the link above and as advertised it says 0% for 18 months.
I have just gone through the application and when I got to the end it said interest was 6.9% for life of balance transfer.

Has anyone else had this. Don't want to complete it if thats what i'll get

Thanks

Nickynoo

si2004

I've just done the same, the T&C's state 0% over 18 months but the balance transfer form at the end of the application states 6.9% for life. I've also not gone any further. Has anybody gone through with this yet?

BTW - This is now being advertised openly through moneysupermarket and shows up as best BT deal when you search with links to the Cap1 application form.

si2004

Just reading T&C's again, no mention of spending £101, but balance transfer summary reads:-

0% interest rate for first 18 months
11.94% thereafter

but alongside both the APR states 6.9%. Is this some sort of calculation for the second year when 1st 6months are interest free and 2nd at standard rate.

Confused?????

MarkyMarkD

The recent change in the APR regulations means that they can't show a 0% APR even though the terms are that it's 0% for 18 months followed by 11.9%. The APR is worked out by calculating how much you would pay in interest over the period from taking the loan until you've repaid it by paying the minimum. I can send you a spreadsheet which shows this if you are desparate!

Please note that the deal on the website is NOT the same as the original deal (at least not the personally addressed version I got). Mine is 0% followed by 9.9% and 9.9% on purchases = 5.8% APR.

But for most of us I imagine that whether it's 11.9% or 9.9% is rather irrelevant

Galstonian

The deal on the leaflet and the one on the web may be the same but the leaflet is older - the "go to" rate is variable and the web page may include a subsequent base rate rise which was not included on the leaflet. I'm not sure, just a guess really, they could also be completely different

mark101

So in one line its 0% for 18 months? The rate is irrelevant to me after the 18 month period.

Mark

stu354

should I ask for a BT when applying or wait to see if i get accepted?  

going to transfer to my egg card?  how much would you recommend asking for?  It just seems a bit strange putting my egg card 10k or more in credit!   ;D

littlemisscheap

Update:-

SAEs received from all except NitinPatil
Forms in post to all who requested tonite.

Nitin, if you no longer reuire, then please let me know so I can re-allocate to someone else who may need.

Good Luck.

dawny10

Hi all
Am I right in thinking that you cannot do a balance transfer from this Capital One card direct to a bank account?

If I can't do this, I then need to balance transfer to another credit card which does allow BT's to a bank account?

I have an Abbey MBNA 0% card which I have already BT'd the credit limit to a savings account, with no BT fee. Are they likely to charge me if I do another one after moving the money from Capital One?

Any help gratefully received, I'm still a bit new to this!
Thanks