Capital one transfer fee, help?

edited 30 November -1 at 1:00AM in Credit Cards
4 replies 705 views
alm721alm721 Forumite
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edited 30 November -1 at 1:00AM in Credit Cards
Hi there, I wonder if anyone could help. I took out a capital one card and they charged me a fee of 3% to do the balance transfer (amounted to £435) they have now reduced this fee to 1.7% for new card holders . I wrote and asked them how they justified the 3 % since they have just nearly halved it and whether they would consider reducing my charge as I only took the card a couple of months before the change. Basically they said no. I just wondered in light of all the bank/cc charges reclaiming whether there is any milage in pursuing this.
Thanks Andrea

Replies

  • Sure the usual suspects on this site will say the same thing... don't think you have any chance of getting these fees back! :rolleyes: Mainly, I suspect, because you were made aware of the costs when you originally signed up to the card... ;)
  • YorkshireBoyYorkshireBoy Forumite
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    they have now reduced this fee to 1.7% for new card holders
    No they haven't - the 3% product you applied for still exists.

    They've actually brought out another product that has a much higher credit scoring requirement. For example, for the new product you must have CC debt of less than £10K*, have held a CC for more than 5 years, and you must currently hold a card with at least a £5K credit limit.

    In return for this higher credit score, Capital One have lowered the BT fee and the 'go to' APR due to the lower risk involved in lending to them.


    * So unless you were stoozing into Egg Money you'd have fallen at the first hurdle anyway, because you were moving £14,500!
  • alm721alm721 Forumite
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    Thanks for the replies thought that may be the case but thought i would ask.
    cheers
  • You may also find that your 0% is for a longer period of time! The one with the 1.7%, is only until may 08-(8 months)
    :)Henry James Born 18/03/2011-11 days late!:)

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