Cap One balance transfer not available

[Anonymous]

My husband and I both have Cap One cards, several years old.  Today, I went to transfer a balance from another card and was met with the message that there are no balance transfer offers on the accounts.  Customer Service Rep confirmed that information.  Do I need to wait for a offer before I transfer?  I thought I had done so in the past without an actual offer. Neither card has a balance and gets used more than once a year.

[FinStar]

Hi @Anonymous and welcome to the forums.

Capital One BT offers come and go anymore these days. In the past, these could stay on your account for a longer period, but that isn't the case based on reported experiences. Unfortunately, if there is no BT offers of any kind, then the account won't let you transfer any balances.  Try using the account more frequently (vs once a year) and see if in the future these pop up.

[Anonymous]

Normal practice then?  I was worried it was something more specific to our accounts.  I guess I'll check the accounts more often and wait for something to come around.

[FinStar]

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@Anonymous wrote:

Normal practice then?  I was worried it was something more specific to our accounts.  I guess I'll check the accounts more often and wait for something to come around.

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Pretty much (post-pandemic).  Pre-pandemic, BT offers would be more abundant based on folks mentioning them here, but they have tightened the reins given portfolio losses, the economic environment, etc. I received BT offers on 2 of my Capital One cards several months ago (didn't need them), but they went *poof* within 2 weeks, IIRC.

[Anonymous]

 Now I have a somewhat related question🙂. My backup plan is a BT offer on a different card (Wells Fargo) which did show an offer.   I used the offer and made the balance transfer online this afternoon and got an email confirmation.  Now when I go back to the account, the offer is gone?????  Not sure what to think and a bit concerned the BT won't go through.

[FinStar]

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@Anonymous wrote:

 Now I have a somewhat related question🙂. My backup plan is a BT offer on a different card (Wells Fargo) which did show an offer.   I used the offer and made the balance transfer online this afternoon and got an email confirmation.  Now when I go back to the account, the offer is gone?????  Not sure what to think and a bit concerned the BT won't go through.

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If you already submitted the BT and you received confirmation of the transfer, you should be fine. Typically, once it's used up it may not be available for sometime (depending how much the BT was for and the current limit on the card).

[Anonymous]

You may want to open a new account at one of these 3 banks, all are offering 0% for 18 months on new account balance transfers;

Citi Bank, Fifth Third Bank, and Suntrust Bank

Thanks

Mark