Which? reviews new Capital One 0% balance transfer credit cardCan interest-free deal beat the best credit cards?
10 June 2011
Capital One has launched a new 0% balance transfer credit card offering an interest-free deal of 17, with a balance transfer fee of 2.9%.
The Capital One Transfer Card MasterCard offers:
- 0% on balance transfers until 31 October 2012
- 0% on purchases until 30 September 2011
- A standard interest rate on purchases and cash withdrawals of 16.8% APR
Which? credit card expert Martyn Saville commented: 'Capital One recently became a Which? Recommended Provider for credit cards thanks to its improved customer satisfaction score.
'Capital One's new card is placed in our Best Rate table for 0% balance transfers, but falls short of some of the best interest-free deals, which provide up to 20 months. It's still not a bad offer, though, particularly if you already have cards with the market leaders and therefore can't take advantage of their new-customer deals.
'The Capital One 0%-on-purchases deal is much less generous than the 15 months available on dedicated 0%-on-purchases cards though, so is best avoided.'
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