Capital One 9 month 0% - BT Fee?

colinw

The 9 month 0% BT offer with Capital One does not seem to make any mention of a BT fee. has any one took up the 9 month offer and if so did they charge?

Martinslovechild

You are correct. There's no fee.

Cap1 charge a fee only for BT's of 12 months or greater.

Clariman

Martinslovechild wrote:

You are correct. There's no fee.

Cap1 charge a fee only for BT's of 12 months or greater.

That is not necessarily true. I have just got the 18 months card and was not charged a BT fee. The Cap1 customer services person told me that there was only a BT fee on cards which offered 0% on purchases as well as BTs. If the card did not have 0% on purchases then BTs were normally free. However, that was one customer service person so may not be 100% correct. As always, you need to check your OWN Ts & Cs, because many lenders seem to have multiple sets of Ts & Cs for the same or similar cards. The only way of knowing is to read the small print.

Clariman

kevster_2

I have had the 9months card a few months and they charged me nothing on my BT. it said nothing in the small print

colinw

Yes got my Capital One card a couple of days ago and the 0% 9 month BT had no fee. Quite impressed with their speed.

YorkshireBoy

Clariman wrote:

As always, you need to check your OWN Ts & Cs, because many lenders seem to have multiple sets of Ts & Cs for the same or similar cards. The only way of knowing is to read the small print.

I can only echo this advice as my wife has been accepted for the Capital One 18 month deal with NO FEE via her online application. Whereas my "paper form" application will be subject to a fee of 2% (max £50).

nellietheel

I am currently completing an application form which has 0% interest on balance transfers for 15 months, and does not mention purchases. Among the 'benefits' it states that there is a Balance Transfer handling fee of 2% (max £50), and a Cash Withdrawal Fee of 1.5% (min £2).

I was going to provide details of my other 2 credit cards to do a balance transfer, hoping they would then give me a credit limit based on the outstanding amounts, but now I have 2 questions. (1) Would they apply 2 separate balance transfer fees as I am giving 2 different lots of details, and (2) would I be cheaper asking for an immediate cash withdrawal, although on the form you cannot specify an amount?

Chadsman

nellietheel wrote:

I was going to provide details of my other 2 credit cards to do a balance transfer, hoping they would then give me a credit limit based on the outstanding amounts, but now I have 2 questions. (1) Would they apply 2 separate balance transfer fees as I am giving 2 different lots of details, and (2) would I be cheaper asking for an immediate cash withdrawal, although on the form you cannot specify an amount?

(1) I would have thought that probable. A possible way round this could be if one of the cards does not levy a charge for BTs then BT to this card and then from that card to the new 0% card.

(2) Cash withdrawls or BTs to current accounts dont usually qualify for 0% deals with the exception of Egg, but DYOR and check your own T&Cs.

YorkshireBoy

nellietheel wrote:

(1) Would they apply 2 separate balance transfer fees as I am giving 2 different lots of details, and (2) would I be cheaper asking for an immediate cash withdrawal, although on the form you cannot specify an amount?

(1) Yes

(2) No. Firstly the 1.5% has no cap but, perhaps more importantly, cash withdrawals start to accrue interest from day one.

YorkshireBoy

Chadsman wrote:

(1) I would have thought that probable. A possible way round this could be if one of the cards does not levy a charge for BTs then BT to this card and then from that card to the new 0% card.

But surely, it is Cap One that is levying the charge - not the other cards?

Chadsman wrote:

(2) Cash withdrawls or BTs to current accounts dont usually qualify for 0% deals with the exception of Egg, but DYOR and check your own T&Cs.

You can BT from current accounts to Virgin as well as Egg

Chadsman

YorkshireBoy wrote:

But surely, it is Cap One that is levying the charge - not the other cards?

What I mean is if there are balances owing on card A and card B and card A does not charge for BTs and has room to absorb the balance on card B then BT from card B to card A (without a fee) and then from card A to Cap1


.............<----funds

---

......................<----funds----
card B................................card A..................................Cap1
................----BT---->...........................----BT---->

There might be a small extra amount of interest to pay on card A (which already carries a debt) if the BTs were done at the same time (no more than a couple of quid) or if you waited until the funds from Cap 1 reached card A before doing the BT then no interest at all