If you have excellent credit, this is the balance transfer deal for you.
The Capital One Platinum Prestige credit card offers 0% financing on balance transfers and purchases through September 2010.
That’s twice as long as the six months offered by the best deals from other credit cards, such as the Discover More card.
When the introductory rate is up, you’ll be charged 8.65% plus the prime rate — or 11.90% right now, with the prime at 3.25%.
That’s a good interest rate for almost any credit card right now. And it’s guaranteed.
You might get a variable rate as low as 8.75% plus prime if you take advantage of Discover More’s balance transfer offer. But that’s contingent on a review of your credit at the time the introductory rate expires. Your rate could be as high as 15.74% plus prime.
There’s also no annual fee, transfers can be processed in as little as 48 hours, and the balance transfer fee remains 3% of the debt — not the 5% many other credit cards are now charging.
The catch, as we said, is that you must have excellent credit to qualify.
Capital One defines someone with excellent credit as one who has:
- Had a loan or credit card for at least five years.
- A credit card with a credit limit of greater than $10,000.
- Never been more than 60 days late with a payment on a credit card, medical bill or loan.
- Never declared bankruptcy.
Click here to see how the terms offered by Capital One compare with the best balance transfer offers from other credit cards in our database.
(3 votes, average: 4.33 out of 5)
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