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How to Do a Balance Transfer With Capital One

Balance transfers can be a great way to get out of debt if you currently have a balance on a high interest credit card. By transferring your balance to a card with a low or 0% intro APR period, you receive more time to pay off your debt, and can avoid incurring interest charges on … Continue reading How to Do a Balance Transfer With Capital OneThe post How to Do a Balance Transfer With Capital One appeared first on MagnifyMoney.

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How to Do a Balance Transfer With Capital One

Balance transfers can be a great way to get out of debt if you currently have a balance on a high interest credit card. By transferring your balance to a card with a low or 0% intro APR period, you receive more time to pay off your debt, and can avoid incurring interest charges on your balance — so long as you pay it in full before the intro period ends.In this guide, we provide step-by-step instructions on how to complete a balance transfer with Capital One online and over the phone. The submission process should only take a few minutes. Before you transfer your balance to a Capital One credit card, beware that there are better balance transfer offers available from other issuers.

While the balance transfer offers from Capital One offer a decent amount of time to pay off debt, they don’t come with the $0 intro balance transfer fee that many cards from other major issuers provide. The fee is typically 3% and can add up if you transfer a large balance. For example, transferring $5,000 in debt will incur a $150 fee, when you can find another card that offers an intro $0 balance transfer fee, saving you $150.

We recommend the following cards that may offer a longer intro period or an intro $0 balance transfer fee:

on Discover Bank’s secure website

Regular APR13.74% - 24.74% VariableIntro Purchase APR0% for 6 MonthsIntro BT APR0% for 18 MonthsAnnual fee$0Rewards Rate5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate. 1% unlimited cash back automatically on all other purchases.Balance Transfer Fee3%Credit requiredgood-creditExcellent/Good CreditAPPLY NOW Secured

on American Express’s secure website

Terms Apply

Regular Purchase APR14.74%-25.74% VariableIntro Purchase APR0% for 15 MonthsIntro BT APR0% for 15 MonthsAnnual fee$0Rewards Rate2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x), 1x points on other purchases.Balance Transfer Fee$0 balance transfer fee.Credit requiredgood-creditExcellent/Good>>For more balance transfer cards, check out our roundup.

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