Capital One Credit Card- Balance Transfer?
Capital One Credit Card- Balance Transfer?
I have been using Capital One "Circle Card" Master Card which offers a 1%
cashback.
Recently, I received an offer from Capital One for a "pre-approved" Platinum
MasterCard, with 0% credit for purchase and balance transfer for the first 6
months.
I am just wondering if I apply for this Platinum MasterCard and Transfer all
the balance from my Capital One Circle Card:
1) Would I still be eligible for 1% Cash back rebate on the circle card on
the balance that has been transferred?
2) Would my Circle Card account be closed by having a balance transfer
-I don't beleive Capital One allow you to have more than one account open
with them at any one time, so you may end up losing the 1% cashback card if
you applied and were offered the Platinum Card. The biggest kick in the
teeth though that could happen is if you applied for the Platinum Card, and
they then turn around and say that on fruther consideration of your
application, you're not worthy so have a basic card instead, with no 0%
period and an APR of somewhere between 20% and 29%! Personally, I'd stick
with the 1% cashback - unless of course you do have a balance to transfe
then it might be worth it, as long as the credit limit on the new one is big
enough to take it.
-And if I get the MBNA Platium Visa Card with 0% on balance transfer for the
first 6 months
- Capital One won't close my account if I have balance transferred to MBNA
- Can I spend on my capital one card on a monthly basis and have the Balance
transferred to MBNA?
- Would MBNA allow balance transfer from time to time during the first 6
months or only on initial application (if so, could I transfer a balance
from Capital one that is either a) from completed transactions but not shown
until next statement or b) anything that is more than the balance on the
capital one card (e.g. I have spent ¢G500, can I transfer ¢G800, so I get a
¢G300 credit on the capital one card for purchase in next few months)
-A balance transfer is usually not treated as either a cheque or cash
transaction. Most cards will only do balance transfers to other cards, but
some, including MBNA and egg, will do it to a current account as well. egg
charge nothing for balance transfers, MBNA I think say they "may" charge
(they will tell you in advance if they actually will).