Capital One Balance Transfers [Complete Guide]

Capital One accepts balance transfers, which is a transaction that allows you to reduce the cost of credit card debt by transferring your balance to a different credit card with a low introductory interest rate. Capital One offers three balance transfer credit cards, all of which have low introductory APR offers for a set period of time after your qualifying balance transfer is complete.

Note that you’ll typically pay an upfront fee with any balance transfer, Capital One or otherwise. But because balance transfer credit cards can save you money on interest, you’ll usually still spend less over time than you would if you didn’t transfer your balance.

Does Capital One do balance transfers?

Yes, Capital One allows you to transfer a balance onto one of its credit cards if you owe money on a credit card from a different company. For example, you could transfer your balance from a Citi, Chase, or American Express card to a Capital One balance transfer card.

You also have the option to transfer your balance on a Capital One card to a different credit card issuer. This means if you find a good balance transfer offer from a different provider and you owe money on any Capital One card, you can move it over to the new card instead.

Does Capital One have balance transfer credit cards?

Capital One currently offers three different balance transfer credit cards with similar features. Each of Capital One’s balance transfer cards has a limited-time introductory APR period as well as a balance transfer fee. For example, the Capital One Quicksilver offers a 0% intro APR for 15 months on balance transfers, then 19.74% - 29.74% (variable) APR, and a balance transfer fee applies.

These balance transfer offers apply to new cardholders, who can take advantage of the intro APR rates for a set period of time. Here's what each of these balance transfer credit cards offers customers specifically.

Capital One balance transfer credit card comparison

Note that, even with a balance transfer card, you have to make your monthly payments on time. Late payments not only hurt your creditworthiness, but they may also be subject to late fees or other penalties.

Which Capital One balance transfer credit card is best?

It's always best to compare credit cards before doing a balance transfer to see which has the best offer. Capital One's credit card offers are similar on all three of its balance transfer cards, but each of the cards differs in terms of the other rewards and perks offered.

Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards credit card is an ideal balance transfer card for people who want to earn the same rewards rate on all new purchases. Balance transfer details include:

• Intro APR: 0% intro APR for 15 months on balance transfers, then 19.74% - 29.74% (variable) APR
• Balance transfer fee: Balance transfer fee applies

The Quicksilver’s introductory APR time period of 15 months is shorter than that of some competitors. For example, the Wells Fargo Reflect^® Card provides a 0% intro APR for 21 months from account opening on qualifying balance transfers, then a 17.74%, 24.24%, or 29.49% Variable APR thereafter. The Wells Fargo Reflect has a balance transfer fee of 5%, min: $5.

However, the Wells Fargo Reflect charges foreign transaction fees, which none of the Capital One cards do.

If you decide you want a Capital One card to be your balance transfer credit card, then the Quicksilver stands apart from the two other alternatives because it provides unlimited 1.5% cash back on every purchase. This is important if you plan to use the card as a regular rewards card as well as a balance transfer card.

Although Capital One's other two balance transfer cards offer more generous bonus rewards for certain spending, such as dining, travel, or streaming services, the standard rewards rate is lower on both.

Consider how you plan to use your credit card when you decide which one is best for you. If you prefer the simplicity of a card that offers the same rewards rate for all purchases, the Quicksilver Cash Rewards could be a good option. It's also a good choice if you don't tend to spend as much on dining, entertainment, streaming, and groceries as you do on other things.

Capital One Savor Cash Rewards Credit Card

The Capital One Savor Cash Rewards Credit Card has the following balance transfer offer:

• Intro APR: 0% intro APR for 15 months on balance transfers, then 19.74% - 29.74% (variable) APR
• Balance transfer fee: Balance transfer fee applies

However, this card provides 3% unlimited bonus cash back on grocery stores (excluding superstores like Walmart® and Target®), on dining, entertainment and popular streaming services. This is more generous than the 1.5% cash back on every purchase the Quicksilver offers.

This card's standard rewards rate for all other purchases outside of these bonus categories is just 1%, though. That means this card is the ideal option if you want both a balance transfer offer and bonus rewards on these specific types of spending. This card could also work well for you if you intend to use a different card for purchases outside of the bonus categories.

Capital One VentureOne Rewards Credit Card

Finally, the Capital One VentureOne Rewards card provides the following balance transfer offer:

• Intro APR: 0% intro APR for 15 months on balance transfers, then 19.74% - 29.74% (variable) APR
• Balance transfer fee: Balance transfer fee applies

This card is geared toward travelers, as you can earn 1.25 miles per dollar on every purchase, every day and 5 miles per dollar on hotels and rental cars booked through Capital One Travel. So this card is a good choice if you regularly plan to use your card to pay for trips as well as for a balance transfer.

How to start a balance transfer with Capital One

If you are interested in doing a balance transfer on any Capital One cards, there’s a simple process to follow. The specific steps depend on whether you have a Capital One card yet or not.

If you already have a Capital One card:

• Sign into your online account and see if you have a balance transfer offer. (You can also use the Capital One Balance Transfer page.) You will find out immediately if you are approved to transfer a balance and what your credit limit is.
• Provide the information of the credit card you want to transfer a balance from. This is the card that you currently owe money on, and which you wish to move over to your Capital One card. The information you will need includes the creditor's name, your name, the account number, and the amount you want to transfer.
• Wait for Capital One to initiate the transfer, and then begin making monthly payments on your Capital One card.

Ideally, you will pay enough to bring the balance down to $0 before the intro APR rate expires. After that, you’ll be charged the standard interest rate on any remaining balance due. Try to make more than the minimum payment to ensure you’ll pay off the card in time.

If you do not already have a Capital One Card:

• Apply for a Capital One balance transfer card online. Pick the card you want to apply for and submit an application for a new credit card account.
• Request a balance transfer after your account opening. Assuming you’re approved for the card, you'll be able to sign into your online account and complete this step after your official account opening.
• Provide the information of the card you want to transfer the balance from. You will need the name, account number, and payment address of the other company. From there, you simply wait for Capital One to initiate the transfer.

Capital One indicates that the transfer generally takes between three and 14 days depending on whether the balance transfer request is completed electronically or by mail.

FAQs

Bottom line

Finding the right balance transfer card can be a challenge, as there are many factors that go into choosing which card is right for you. For example, people with an excellent credit score may have more options than those with bad credit. Ultimately, if you are considering transferring debt, you should carefully research the best balance transfer credit cards to find one that works best in your particular situation.

Extra Long Intro APR on Purchases & Qualifying Balance Transfers

Wells Fargo Reflect^® Card

4.9

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Wells Fargo Reflect^® Card

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Rates and fees

Current Offer

Benefit from a long introductory APR period on purchases and qualifying balance transfers

Annual Fee

$0

Benefits and Drawbacks

Benefits

• 0% intro APR for 21 months from account opening on qualifying balance transfers, then 17.74%, 24.24%, or 29.49% Variable APR
• Up to $600 Cell phone protection when you pay for the cell phone with your card (subject to a $25 deductible)
• $0 annual fee
• The ongoing APR may still be competitive compared to other cards

Drawbacks

• No rewards for spending
• 3% foreign transaction fee
• 5%, min: $5 balance transfer fee
• Limited list of card perks

Card Details

• Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
• 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 17.74%, 24.24%, or 29.49% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min: $5.
• $0 Annual Fee.
• Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
• Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It's an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.