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If you feel weighed down by high-interest credit card debt, a balance transfer credit card with an interest-free period can help bring some relief. Capital One offers credit cards with 0% intro APRs on balance transfers* for more than a year. A balance transfer allows your monthly payments to go toward the principal, rather than interest charges.
We’ll walk you through the steps needed to move your existing debt to a Capital One card — whether you’re opening a new Capital One credit card account or have an existing account.
Prior to initiating the balance transfer, you should establish a plan to pay off your debt before the introductory period ends. Otherwise, you’ll be subject to interest charges on your remaining balance — which may defeat the purpose of transferring the balance in the first place.
You should also know that you can’t earn rewards on balance transfers. That said, when transferring a balance, it’s best to focus on paying down the debt within the interest-free period rather than racking up rewards.
The steps you’ll need to take to complete a Capital One balance transfer will vary slightly depending on if you’re transferring a balance to a new Capital One card or an existing one. Either way, you should be prepared to provide the following information before getting started:
Once you research the balance transfer offers available from Capital One, choose the balance transfer card that best fits your needs. Then, follow these steps to apply for the card online:
If you’re an existing Capital One cardholder, you need to first check to see if you’ve been given a balance transfer offer from Capital One. Follow these steps:
If your account states that there are no balance transfer offers currently available for you, you can check back at a later time to see if any offers become available. Capital One periodically updates accounts with different offers.
Otherwise, you can apply for a new Capital One credit card with an intro APR on balance transfers.
Balance transfers typically take between three and 14 days — depending on whether Capital One can complete your request electronically or by mail.
You should continue making credit card and loan payments until you confirm the transferred payment has been received by the other creditor. And if you wish to close those existing accounts, you’ll need to contact the other lender directly.
The following types of debt are eligible to transfer:
Note that transfers between credit cards issued by Capital One are not permitted. This includes cards branded with Bass Pro Shops CLUB, Cabela’s, Kohl’s, Sony, GM, BuyPower Card, Union Plus, Walmart and Teamster Privilege.
Capital One currently offers several credit card products that allow balance transfers, but only a select few offer 0% intro APRs on balance transfers* for more than a year:
Credit Cards | Our Ratings | Intro Balance Transfer APR | Regular Balance Transfer Rate | Balance Transfer Fee | |
---|---|---|---|---|---|
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Capital One VentureOne Rewards Credit Card
|
0% intro on balance transfers for 15 months | 19.24% - 29.24% (Variable) | Balance transfer fee applies | ||
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Capital One Savor Cash Rewards Credit Card
|
0% intro on balance transfers for 12 months | 19.24% - 29.24% (Variable) | Balance transfer fee applies | ||
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Capital One Quicksilver Cash Rewards Credit Card
|
0% intro on balance transfers for 15 months (Balance transfer fee applies) | 19.24% - 29.24% (Variable) | Balance transfer fee applies |
If you have a large amount of high-interest credit card debt, a balance transfer credit card can be a useful tool to help you save** on interest charges while paying down your balance.
Plus, a balance transfer card allows you to consolidate multiple balances to a single monthly payment, making it easier to keep up with your monthly bills.
No, you cannot transfer a balance from one credit card to another from the same issuer.
No, balance transfers do not earn rewards.
The amount you transfer (including fees) cannot exceed your card’s credit limit.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.