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Balance transfers can help cardholders receive lower or 0% interest rates for a period of time on existing balances or consolidate multiple balances into one. Existing credit card balances or personal, auto or student loans may also be eligible for balance transfers. Current Capital One cardholders can request a balance transfer via their online account. Prospective cardholders can apply for a new Capital One card offering an introductory APR offer to be followed by the card’s standard rate APR.
Capital One Balance Transfer Offers
Capital One currently only offers a few cards with introductory APRs on balance transfers.
Capital One VentureOne Rewards Credit Card
The Capital One VentureOne Rewards Credit Card offers a 0% intro APR on purchases and balance transfers for 15 months, 19.99% - 29.99% variable APR after that; 3% balance transfer fee for the first 15 months, 4% at a promotional APR that Capital One may offer you (rates & fees).
Other perks include:
- Earn 20,000 miles after spending $500 on purchases within 3 months from account opening, equal to $200 in travel.
- Earn 5 miles per dollar on hotels and rental cars booked through Capital One Travel and 1.25 miles per dollar on every other purchase.
- $0 annual fee
Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver Cash Rewards Credit Card offers a 0% intro APR on purchases and balance transfers for 15 months, 19.99% - 29.99% variable APR after that; 3% balance transfer fee for the first 15 months, 4% at a promotional APR that Capital One may offer you (rates & fees).
Other perks include:
- Earn a $200 cash bonus after spending $500 on purchases within 3 months from account opening.
- Earn 1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel.
- $0 annual fee
Capital One SavorOne Cash Rewards Credit Card
The Capital One SavorOne Cash Rewards Credit Card offers a 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; 3% balance transfer fee for the first 15 months, 4% at a promotional APR that Capital One may offer you (rates & fees).
Other perks include:
- Earn a $200 cash bonus after spending $500 on purchases within the first 3 months from account opening.
- Earn 3% cash back on dining, entertainment, popular streaming services and grocery stores (excluding superstores like Walmart® and Target®), 5% cash back on hotels and rental cars booked through Capital One Travel, 8% cash back on Capital One Entertainment purchases, and 1% on all other purchases.
- $0 annual fee
Many other Capital One cards offer balance transfers. Those cards offering balance transfers without an introductory APR offer may not charge balance transfer fees.
How To Do a Balance Transfer With Capital One
Capital One allows balance transfers on both new or existing cards. Keep in mind the total amount of the transfer (including fees) cannot exceed the credit limit of the card. This means if you have a $10,000 credit limit and a 3% balance transfer fee, you can only transfer $9,700.
Balance transfers are not eligible for rewards and can take up to 14 days to complete depending on whether it’s an online or mailed-in request.
Use an Existing Capital One Card
Capital One cardholders can transfer a balance to an existing account from a non-Capital One credit card or loan. Log into your online account to see if you’re eligible.
Cardholders should have some information ready before making a request, like the amount they wish to transfer and the name, account number (i.e., credit card number) and payment address of the other card issuer.
Capital One may approve a request immediately, or it may take a few days for them to come back with a decision.
Apply For a New Capital One Card
Capital One offers a few introductory APR offers specifically for balance transfers. Fees may still apply, which cardholders should consider when determining whether a balance transfer is worth it.
Applicants with excellent credit are more likely to qualify for the best balance transfer cards that Capital One offers.
Applying for a new credit card almost always results in a hard inquiry into the applicant’s credit report. Expect a small, short-term drop in your credit score following a hard inquiry. Try submitting a pre-approval application to see if you qualify for the Capital One card that interests you.
What To Do After Requesting a Balance Transfer
Once approved, a balance transfer will begin immediately. Note though that it can take up to 10 business days until the other card issuer or loan provider processes and receives the information. Online transfers are typically the quickest, while receiving balance transfer checks in the mail may take longer.
Check the old account regularly and keep making payments until the transfer is complete (when you see a zero balance). Ensure the entire approved amount is transferred to your Capital One card. Cardholders can check the status of a transfer on Capital One’s website.
Cardholders can decide what to do with old accounts once transfers are complete. Even if a credit account is inactive, it could benefit credit scores by lengthening credit history and decreasing credit utilization—both crucial factors credit bureaus consider when rating credit scores.
Capital One Balance Transfer Fee
Capital One cards offering introductory APRs on balance transfers are typically cards that will charge balance transfer fees. When an ongoing balance transfer APR applies to a balance transfer immediately, Capital One does not usually charge a balance transfer fee.
We do not recommend transferring a balance to a Capital One card with a high APR just because the company doesn’t charge fees to do so. You likely have other more affordable options, even if your current APR is higher.
Best Practices for Balance Transfers
While balance transfers can be useful for paying down debt or taking advantage of lower interest rates, cardholders should be vigilant before committing to transfers.
Find the Best Card
The best cards offer an introductory APR for 12 to 24 months, allowing people in debt to take advantage of no interest payments while paying down a big balance. Capital One has several lucrative offers including the ones on the Capital One VentureOne Rewards Credit Card (rates & fees) and the Capital One Quicksilver Cash Rewards Credit Card (rates & fees).
Calculate Monthly Payments
Before biting the bullet and applying for a new card with no interest, figure out how much each monthly payment should be to pay down the balance completely. Divide the total balance by the number of months offered with no interest to find the optimal amount. (Minimum monthly payments assigned by the card issuer are often not enough to pay down a balance.)
If the ideal monthly payment is affordable, transferring a balance to a new card may be worth it. If it’s not reasonable, consider other options like a personal loan or negotiating with the existing card issuer.
Find an Offer With No Balance Transfer Fee
Although uncommon, some credit cards offer balance transfers with no fee. Fees are usually a small percentage of the balance transfer amount, which can add up to hundreds of dollars depending on the size of the transfer.
The best balance transfer cards offer 0% introductory APR for a set period and do not charge a transfer fee. Cardholders could save money in the long run with this kind of offer, but likely need an exceptionally high credit score to qualify. Try filling out a pre-approval application first.
Read the Terms and Conditions
When applying for a new credit card, applicants should read the card terms carefully, no matter the situation. Terms may be messy and hard to understand. If you are still unclear, call the card issuer directly to ask questions until you are completely sure what you are getting into.
Consider the following before applying for a new credit card with a balance transfer offer:
- Balance transfer fees
- Purchase APRs
- Balance transfer APRs after the intro period ends
- If grace periods for new purchases still apply
- How interest applies to new purchases made using the same card
- Whether interest will accrue retroactively for the remaining balance after the intro period ends
Find The Best Capital One Credit Cards Of 2024
Learn More
Bottom Line
Capital One offers enticing balance transfer cards with introductory APRs. Consider the options carefully and take advantage of Capital One’s pre-approval application before committing. Remember new purchases may still accrue interest even if the balance transfer does not. Make sure you can pay off the entire balance before the introductory period ends. Contact the card issuer with any specific questions to understand the card agreement when in doubt.
Frequently Asked Questions (FAQs)
What credit cards can I do a balance transfer with from my Capital One card?
Many Capital One credit cards permit balance transfers, but we only recommend transferring a balance to a new Capital One card with an introductory APR on balance transfers. The Capital One cards offering an introductory APR on balance transfers include the Capital One VentureOne Rewards Credit Card(rates & fees), Capital One Quicksilver Cash Rewards Credit Card (rates & fees) and Capital One SavorOne Cash Rewards Credit Card (rates & fees).
How can I receive a balance transfer offer from Capital One?
If you need to transfer a balance to a Capital One card, you can do so online through your Capital One account or call the number on the back of your card. If you’d like to take advantage of an introductory APR offer, you’ll need to receive approval for a card offering such an opportunity.
How often does Capital One let you do a balance transfer?
Capital One doesn’t publish any specific rules regarding how often cardholders may transfer a balance, but cardholders can check for eligibility through capital one’s website. The total amount you’ll be able to transfer will be limited by your balance transfer offer and balances cannot be transferred among Capital One cards.
Can I transfer my Capital One balance to another card?
Transferring a balance from Capital One to another card is possible if permitted by the card issuer you’re transferring the balance to. Capital One does not permit its cardholders to transfer balances from one Capital One card to another Capital One card.
