Capital One 0% to Jan/2007

Legacy_user

Does anyone know what the catch is if there is one?

jonesMUFCforever

2% Balance transfer fee>?
Eric

YorkshireBoy

To add to Eric's post...

Make that an uncapped "2% Balance transfer fee"

3% minimum repayments (for the stoozer anyway )

System

Got this off their terms and conditions

"If you do not pay off your balance in full when you make a payment it will be used to pay off in the following order: any cash handling fees; any interest; other fees; Payment Protection Insurance; most balance transfers except those described next; then balance transfers made after any initial period, if at the time, your initial period was described as "for the life of balances transferred", and all purchases; then cash withdrawals"

I'm not great at understanding these things so does that mean the balance transfer fee is paid off first?

We are not yet in the position to stooze and 2% for 15 months doesn't seem too bad and gives us a longish period of stability and less credit checks.

YorkshireBoy

Al_Mac wrote:

I heard you pay interest on the fee, any payments come off the balance.

So not a great deal

No, you clear the fee first according to the T&C's...

"Allocation of your payments:
Unless you pay the outstanding balance in full, we will allocate your payments under this agreement in the following order:
(a) any cash withdrawal handling fees
(b) any interest
(c) any other fees, charges and expenses
(d) any Payment Protection Insurance
(e) transferred balances (with the exception of those stated at (f) and (g) below)
(f) any transactions described in your statement as 'special balance transfers', 'special purchases' or 'special cash withdrawals'
(g) any other balances that are transferred after the end of the initial period (if any) referred to above under 'Interest Rate' if, at the time of the balance transfer, your agreement has a separate interest rate for the life of balances transferred within an initial period, and all purchases
(h) cash withdrawals."

With minimum payments of 3%, and a 2% fee for the BT, you'll clear your BT fee with the first payment, with the additional 1% going towards the BT debt.

Former_MSE_Dan

Just a quick one to say that this has been checked woth Capital One when the card was announced, and the last couple of posters are right, the fee is paid off first.