The Capital One credit card is one of the best options for balance transfers as it has the lowest balance transfer fee.
This is because the Capital One Platinum card offers a 10 months 0% balance transfer option but only charges a 1.7% admin fee - far lower than the market average of 2.67%.
So if you owed 2,000, you would pay a £34 balance transfer fee with the Capital One card, compared to the £53.40 other credit cards charge.
Compare the best platinum credit cards
Get 0% on purchases with this credit card
As an added bonus, the Capital One card also offers 0% for 10 months on all new purchases. There are offers on the market that are slightly longer – the HSBC credit card offers 12 months – but the Capital One card reverts to a 9.9% APR thereafter, which is lower than most other cards on the market.
As an illustration, the HSBC credit card charges 15.9%, while the market average is a staggering 17.71%. What this means is that the penalty for forgetting to switch to another interest free offer is far lower with Capital One than with most others.
Learn more about 0% balance transfers
Capital One Platinum card Key Features
| Typical APR | 9.9% |
| Cash Withdrawals APR | 25.9% |
| Transfer Fee | 1.7% |
| 0% on Transfers | 10 Months |
| 0% on Purchases | 10 Months |
| Late or failure to pay charge | £12 |
| Returned payment charge | £12 |
| Overlimit charge | £12 |
| Returned credit card cheque charge | £12 |
Learn more about balance transfer credit cards
The Egg credit card - more information
The Virgin credit card - more information
The Capital One Platinum credit card - more information
The Lloyds TSB Platinum credit card - more information
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