topic Re: Capital One 0% checks in Credit Cards

Capital One 0% checks

aussiesareforever — Thu, 06 Dec 2012 02:13:37 GMT

I got a lovely offer from Capital One in the mail today. They sent me a few checks for balance transfer at 0% APR for ONE year. A 3% transfer fee applies. Sounds like a great deal, right? Esp because this is the first time I've gotten promotional checks from Capital One in the almost 5 years I've had their account.

Of course there was a ridiculous catch. The catch was that I WOULD have to pay interest on all my other purchases made with my credit card. Even if I pay my balance in full each month. They essentially said that I would lose my grace period if I used any of those checks. It sounded really ridiculous to me, I've never heard that before. Needless to say, the checks are going in the trash.

Re: Capital One 0% checks

nicholasyud — Thu, 06 Dec 2012 02:33:50 GMT

They start to be like Credit One

Re: Capital One 0% checks

Anonymous — Thu, 06 Dec 2012 15:36:06 GMT

F CrapitalOne! EFF EM!!

Re: Capital One 0% checks

UFGuy2006 — Fri, 07 Dec 2012 20:23:34 GMT

@aussiesareforever wrote:
I got a lovely offer from Capital One in the mail today. They sent me a few checks for balance transfer at 0% APR for ONE year. A 3% transfer fee applies. Sounds like a great deal, right? Esp because this is the first time I've gotten promotional checks from Capital One in the almost 5 years I've had their account.

Of course there was a ridiculous catch. The catch was that I WOULD have to pay interest on all my other purchases made with my credit card. Even if I pay my balance in full each month. They essentially said that I would lose my grace period if I used any of those checks. It sounded really ridiculous to me, I've never heard that before. Needless to say, the checks are going in the trash.

Got the same thing but with only a 2% fee. Def thought about it.

Re: Capital One 0% checks

distantarray — Fri, 07 Dec 2012 20:28:30 GMT

lose your grace period? what the hell lol I say go for it lmao mainly because there isn't one card on their line up I think is worth a damn that you can't find better else where.

1.5% cash back card you can find in a lot of places, and 2.0% venture card with things like Priceline at 2% and no annual fee it makes everything on their line up subpar.

Use the check, balance transfer, and sockdrawer for the rest of eternity and buy a big mac on it once in a while, and send a payment the sameday lmao

Re: Capital One 0% checks

Anonymous — Fri, 07 Dec 2012 20:35:12 GMT

I have gotten same offer with 3 packs of checks the last two weeks. I say Eff em too. If there was no 3% transfer fee maybe

Re: Capital One 0% checks

compassion101 — Fri, 07 Dec 2012 20:46:02 GMT

I got the same thing a couple of weeks ago and used them to write a check to myself (which you are allowed to do, does not have to be a balance transfer). $4k of investing money for a year for $120 is a good deal for me. As far as the greace period stipulation I just sd the card and use others. I don't really use capone often anymore anyway since getting rewards cards.

Re: Capital One 0% checks

youngandcreditwrthy — Fri, 07 Dec 2012 23:28:17 GMT

C1 sucks! My cl is tooooooo lowww

Re: Capital One 0% checks

Anonymous — Sat, 08 Dec 2012 02:20:11 GMT

Every lender does this. If you are carrying a balance you do not get a grace period. There are exceptions, like Chase Blueprint, where you can pay in full certain categories and keep the grace period, but for the most part this is the same with all lenders.

Re: Capital One 0% checks

Anonymous — Sat, 08 Dec 2012 02:46:51 GMT

DW Citi Sears has similiar BT checks. 5% fee, 0% for 12 months. But I read the terms and it is the same, no grace period on purchases. MInimum payment goes to lowest APR first. Only makes since if don't use the card for anything else.

We have severa 0% deffered interest amounts from last holiday which are due next month. They don't take away your grace period and they apply all the payment to the higher APR first. Much better deal since you can still use your card normally and there was no up front fee.

Re: Capital One 0% checks

aussiesareforever — Sat, 08 Dec 2012 03:12:55 GMT

@Anonymous wrote:
Every lender does this. If you are carrying a balance you do not get a grace period. There are exceptions, like Chase Blueprint, where you can pay in full certain categories and keep the grace period, but for the most part this is the same with all lenders.

if you use the Capital One checks, you pay interest. Whether you carry a balance or not. I always PIF but if I use their checks, I would be charged interest on all purchases. Even if I pay in full. Not all banks does that. Only the greedy ones