cancel
Showing results for 
Search instead for 
Did you mean: 

Capital One balance transfer question

tag
striehl8212
Frequent Contributor

Capital One balance transfer question

I'm trying to further help my father out with his credit card use, so bare with me. He has a $2,500 balance on one Capital One card with 24.99% interest but was recently approved for a Quicksilver which has a 0% APR balance transfer promo until December (still 3% fee). While I know you cannot balance transfer within the same company, my question is this: has anyone done a balance transfer with Capital One into his/her bank account? I want to make sure this is treated as a BT and not a cash advance, but don't want to call Capital One and sound sketchy. Haha. That way he can just move his balance from his high interest card and take advantage of 0% APR and save a good bit of money on interest.  Any input would be much appreciated! Thanks guys and gals. 

March 2014: EX 693 I EQ 672 I TU 694
September 2014: EX 721 I EQ 741 I TU 742
Message 1 of 2
1 REPLY 1
Creditaddict
Legendary Contributor

Re: Capital One balance transfer question


@striehl8212 wrote:

I'm trying to further help my father out with his credit card use, so bare with me. He has a $2,500 balance on one Capital One card with 24.99% interest but was recently approved for a Quicksilver which has a 0% APR balance transfer promo until December (still 3% fee). While I know you cannot balance transfer within the same company, my question is this: has anyone done a balance transfer with Capital One into his/her bank account? I want to make sure this is treated as a BT and not a cash advance, but don't want to call Capital One and sound sketchy. Haha. That way he can just move his balance from his high interest card and take advantage of 0% APR and save a good bit of money on interest.  Any input would be much appreciated! Thanks guys and gals. 


you have to ask, some banks allow BT directly into a bank account and some do not.

Message 2 of 2
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.