Capital One Balance Transfers [Complete Guide]

Capital One accepts balance transfers, and it has three different balance transfer credit cards on offer.
Last updated Nov. 22, 2022 | By Christy Rakoczy | Edited By Mindy Woodall
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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.

In this article

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.

Tip
Note that if you want to transfer your credit card balance to a Capital One card, you’ll initiate the process through Capital One. But if you want to transfer a Capital One card balance to a different credit card company, you have to go through that company.

How much is Capital One’s balance transfer fee?

Balance transfer fees can sometimes vary by credit card. Capital One currently offers three different balance transfer credit cards with similar features. For example, the Capital One Quicksilver Cash Rewards Credit Card charges a 3% fee on balances transferred within the first 15 months for transferring a balance.

This means if you transferred a $1,000 balance, you would pay $30 in fees. This fee is comparable with what many competitors charge.

Does Capital One have balance transfer credit cards?

Capital One has three balance transfer credit cards. 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 17.99% - 27.99% (variable) APR, and a 3% fee on balances transferred within the first 15 months.

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

Credit card Balance transfer intro offer Balance transfer fee Other benefits
Capital One Quicksilver Cash Rewards Credit Card 0% intro APR for 15 months, then 17.99% - 27.99% (variable) APR 3% fee on balances transferred within the first 15 months
  • $0 annual fee
  • 1.5% cash back on every purchase, every day; and 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply)
  • Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Foreign transaction fee: None
Capital One SavorOne Cash Rewards Credit Card 0% intro APR for 15 months, then 17.99% - 27.99% (variable) APR 3% fee on balances transferred within the first 15 months
  • $0 annual fee
  • 3% cash back on dining and entertainment, popular streaming services, and at grocery stores; 5% back on hotels and rental cars booked through Capital One Travel; 8% cash back on Capital One Entertainment purchases; 10% cash back on purchases made through Uber & Uber Eats (through 11/14/2024); and 1% cash back on all other purchases
  • Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Foreign transaction fee: None
Capital One VentureOne Rewards Credit Card 0% intro APR for 15 months, then 17.99% - 27.99% (variable) APR 3% fee on balances transferred within the first 15 months
  • $0 annual fee
  • 1.25X miles per dollar on every purchase, every day and 5X miles on hotels and rental cars booked through Capital One Travel
  • Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening
  • Foreign transaction fee: None

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 17.99% - 27.99% (variable) APR
  • Balance transfer fee: 3% fee on balances transferred within the first 15 months

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 up to 21 months from account opening on qualifying balance transfers, then a 16.74% - 28.74% variable APR thereafter. The Wells Fargo Reflect has a balance transfer fee of 3% for 120 days from account opening, then up to 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 SavorOne Cash Rewards Credit Card

The Capital One SavorOne Cash Rewards has the following balance transfer offer:

  • Intro APR: 0% intro APR for 15 months on balance transfers, then 17.99% - 27.99% (variable) APR
  • Balance transfer fee: 3% fee on balances transferred within the first 15 months

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

The SavorOne'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. The SavorOne 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 17.99% - 27.99% (variable) APR
  • Balance transfer fee: 3% fee on balances transferred within the first 15 months

This card is geared toward travelers, as you can earn 1.25X miles per dollar on every purchase, every day and 5X miles 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.

Tip
Remember that you can’t transfer a balance from one Capital One card to another. You can only transfer balances on credit cards from other issuers or lenders. For example, a credit card from Citi or Chase.

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

Will a Capital One balance transfer hurt my credit score?

If you open a new card, then likely yes. Capital One's balance transfer offers are typically for new customers. When you open a new credit card, you get a hard inquiry on your credit report. Hard inquiries can temporarily reduce your credit score at least a little bit.

Opening a new card can also make your average age of credit shorter, which can also result in a temporary hit to your credit. However, if a balance transfer enables you to pay off your debt more quickly and reduce your credit utilization ratio, this can actually help your credit.

A lower ratio of total credit used to total credit available can result in a higher credit score. 

What is Capital One’s balance transfer limit?

The total amount (plus fees) can't exceed the credit limit Capital One spells out in the details of your balance transfer offer. This amount varies based on credit score, card choice, and other factors. 

Can I transfer a balance from one Capital One card to another?

You cannot transfer a balance from one Capital One card to another. You are also prohibited from transferring a balance from any card owned by a Capital One affiliate.

Will a Capital One balance transfer save me money?

It depends on your exact situation, but balance transfers will generally save you money on interest when you transfer a balance with a higher APR to a credit card offering a lower APR. Most credit cards have high variable APRs, so if you carry a balance on your card past the introductory period, you’ll be hit with interest charges.

Balance transfers save you money by offering a low introductory APR for a period of time before reverting to a more typical variable APR, though savings will vary depending on card usage and payment activity. 

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.

Pay No Annual Fee & No Interest for a Long Time!

Annual Fee

$0

Benefits and Drawbacks

Benefits

  • Extensive intro APR on qualifying balance transfers and purchases
  • FICO Credit score monitoring
  • No annual fee

Drawbacks

  • Does not earn rewards
Card Details
  • New longer intro period! 0% Introductory APR for 21 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 14.99% - 24.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
  • No annual fee.
  • No penalty APR. Paying late won't automatically raise your interest rate (APR). Other account pricing and terms apply.
  • Access your FICO® Score for free within Online Banking or your Mobile Banking app.
  • Contactless Cards - The security of a chip card, with the convenience of a tap.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

Author Details

Christy Rakoczy Christy Rakoczy has a Juris Doctorate from UCLA Law School with a focus in Business Law, and a Certificate in Business Marketing with an English Degree from The University of Rochester. As a full-time personal finance writer, she writes about all things money-related but her special areas of focus are credit cards, personal loans, student loans, mortgages, smart debt payoff strategies, and retirement and Social Security. Her work has been featured by USA Today, MSN Money, CNN Money and more, and you can learn more at her LinkedIn profile.