Today I received yet another e-mail from Cap1 with this AWESOME, MONEY-SAVING balance transfer offer......
13.99% variable APR for 36 months. 
HUH?! I have a plethora of 0% BT offers from other banks, everyone from Amex to Discover, but Cap1 thinks FOURTEEN PERCENT interest would SAVE me money on high-interest credit cards? Okay then....
For whatever it's worth, this is the very same Cap1 that refuses to give me a CLI on any of my three cards. The same Cap1 whose interest rate is much higher than any of my other cards. (I never carry a balance on them, so it only matters as a matter of principle...or should I say principal? 
)
I guess to them, with their crazy high APRs on CCs, they think 14% interest really *is* money-saving. I wish it was on paper so I could have the pleasure of listening to it go through the shredder...
@SoCalGardener wrote:Today I received yet another e-mail from Cap1 with this AWESOME, MONEY-SAVING balance transfer offer......
13.99% variable APR for 36 months.
HUH?! I have a plethora of 0% BT offers from other banks, everyone from Amex to Discover, but Cap1 thinks FOURTEEN PERCENT interest would SAVE me money on high-interest credit cards? Okay then....
For whatever it's worth, this is the very same Cap1 that refuses to give me a CLI on any of my three cards. The same Cap1 whose interest rate is much higher than any of my other cards. (I never carry a balance on them, so it only matters as a matter of principle...or should I say principal?
I guess to them, with their crazy high APRs on CCs, they think 14% interest really *is* money-saving. I wish it was on paper so I could have the pleasure of listening to it go through the shredder...
😳
Print it out.
Then enjoy the sound of your shredder grinding it to pieces 🤣😂😆
@Anonymous wrote:13.99 is just crazy. Do they actually think that anyone would take that?
It is crazy, right? I mean it's not just me who thinks it's an awful rate?
I don't know why my APR is so high with them--it's like 10 percentage points higher than most of my other cards--but since I never carry a balance, I really haven't cared. But looking at it from their perspective, I guess people with APRs of 21, 22, 23% would look at 14% and think it was good awesome.
@CreditInspired wrote:
@SoCalGardener wrote:Today I received yet another e-mail from Cap1 with this AWESOME, MONEY-SAVING balance transfer offer......
13.99% variable APR for 36 months.
HUH?! I have a plethora of 0% BT offers from other banks, everyone from Amex to Discover, but Cap1 thinks FOURTEEN PERCENT interest would SAVE me money on high-interest credit cards? Okay then....
For whatever it's worth, this is the very same Cap1 that refuses to give me a CLI on any of my three cards. The same Cap1 whose interest rate is much higher than any of my other cards. (I never carry a balance on them, so it only matters as a matter of principle...or should I say principal?
I guess to them, with their crazy high APRs on CCs, they think 14% interest really *is* money-saving. I wish it was on paper so I could have the pleasure of listening to it go through the shredder...
😳Print it out.
Then enjoy the sound of your shredder grinding it to pieces 🤣😂😆
I wish I could! But my printer ran out of ink months ago, and since I've planned on replacing it, I haven't bothered buying ink. Great idea, though!
Wow. I even snubbed a 5.99% BT offer from FNBO, due to having 0% BT offers from both BoA and Discover. That one would go straight to my burn box.
I always get ripped into for talking down about CapOne, so I won't dive too deep....but this just reinforces my opinion about them. None of their cards are necessarily remarkable, even their co-branded, they don't grow too well most of the time and most require HP to do so at all, their APR's always seem to be in that 25%+ arena, and they are a triple-pull monster for mostly lackluster cards.
One of these days I know they are going to release a card that makes me eat my words, but so far.....meh.
On Deck: No Plans Currently
I don't think it was personal, @SoCalGardener. But for the record, they do sometimes have better offers and maybe you'll get some of those too! For all the bashing on My Fico, I still like Capital One. They weren't even a "build/rebuild" lender for me. My Quicksilver (originally Platinum) card had prime terms, although they gave me a low SL which eventually grew.
Just wondering but what is your regular APR? Was it the 13.99% or is it higher? And did they waive the BT fee on that offer? I currently have two offers. My current APR is 11.90% since I've gotten them to lower it some over the years. They are offering me either:
- 0% BT for 12 months with a super-low 2% BT fee. Most of my other cards charge 3-5% with 0% offers.
- WAIVE the BT fee ... and give me my standard purchase APR (11.90%) on Balance Transfers.
@SoCalGardener wrote:Today I received yet another e-mail from Cap1 with this AWESOME, MONEY-SAVING balance transfer offer......
13.99% variable APR for 36 months.
HUH?! I have a plethora of 0% BT offers from other banks, everyone from Amex to Discover, but Cap1 thinks FOURTEEN PERCENT interest would SAVE me money on high-interest credit cards? Okay then....
For whatever it's worth, this is the very same Cap1 that refuses to give me a CLI on any of my three cards. The same Cap1 whose interest rate is much higher than any of my other cards. (I never carry a balance on them, so it only matters as a matter of principle...or should I say principal?
I guess to them, with their crazy high APRs on CCs, they think 14% interest really *is* money-saving. I wish it was on paper so I could have the pleasure of listening to it go through the shredder...
An explainer of this situation with Capital One was posted on 11-01-2017 by ABCD2199:
Many people would be thrilled to cut their interest in half for 3 years...
