Capital One floods more mailboxes than any other credit card issuer with offers from www.mycapitalonecard.com. Each offer varies based on the information they have about you. For example, someone with a limited credit history may receive an offer to apply online at www.mycapitalonecard.com for a credit card with a $300 credit limit. Individuals with good to excellent credit may get a mycapitalonecard.com offer like the one I was shown.
NOTE: Many people will get a better credit card by using the Capital One Card Lab instead of responding to a mail offer. With the Card Lab, you can choose to get a 0% rate on purchases and balance transfers, a low apr, or rewards.
Now, the offer I recieved from mycapitalonecard.com advertised a no fee balance transfer with a fixed APR. That would be great, except the no fee balance transfer had a fixed APR of over 16%. I put the mycapitalonecard.com no fee balance transfer offer in the shredder.
As I’ve said before, no fee balance transfers are good deals if you transfer your balance and don’t use the card for anything else. However, if you’re looking for a no fee balance transfer credit card, get one that offers a 0% APR for 1 year. If you can’t get approved for a fee-free card, get a 0% APR credit card that charges no interest on both purchases and balance transfers.
June 3rd, 2008 at 9:44 am
Do any Capital One credit cards offer 0% interest rates on purchases and/or balance transfers? I went through their entire website and haven’t been able to find one for someone with good credit.
June 3rd, 2008 at 9:54 am
Unless you get a particularly good mail offer from mycapitalonecard.com, the only way to get a 0% APR for 1 year on either purchases or balance transfers is to use the Capital One Card Lab. Individuals with excellent credit card create a 0% APR Capital One credit card. Unfortunatley, you can’t create a Capital One card with a 0% APR on both purchases and balance transfers.
If you don’t fit into the highest credit category of Capital One, you can get a shorter duration 0% APR on purchases or a fixed 7.99% balance transfer with no balance transfer fees.
For more information, you can try out the Capital One Card Lab or compare 0% APR credit cards in the credit card comparison section of Smart Balance Transfers.