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By David Stevens
Personal Finance Correspondent
Wednesday, 12 November 2008
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Compare Credit Cards
What are the four Capital One credit cards remaining?
Capital One Low Rate Card
- 8.5% p.a. fixed until 1st Aug 2012 on balance transfers and purchases
- No balance transfer handling fee
- 8.5% APR
Capital One Low Rate Balance Transfer Card
- 5.5% p.a. fixed on balance transfers until Jan 2011
- 0% on purchases until 1st May 2009
- 1.7% balance transfer fee
- 15.9% APR
Capital One Low Rate Balance Transfer Card with no BT in fee
- 6.5% p.a. fixed on balance transfers until Jan 2011
- 0% on purchases until 1st May 2009
- No balance transfer fee
- 15.9% APR
Capital One Classic Card
- 34.9% APR
- No Annual Fee
- Up to £2,500 in credit
- Your choice of card design
- Free Identity Theft Service
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CREDIT card issuer Capital One, no stranger to the top echelons of the credit card comparison league tables, has consolidated its massive selection of credit cards down to just four.
The four Capital One credit cards remaining are:
The consolidation of its products has effectively pushed out the very popular Capital One balance transfer credit cards which were regularly sitting at the top of the best balance transfer credit card charts.
The company is instead focussing on low rate credit cards as well as maintaining its popular Classic credit card.
Capital One Low Rate Card
At 8.5%, Capital One’s Low Rate Card offers one of the lowest APR’s of any credit card currently available.
This makes the card perfect for purchases that you feel you won’t be able to pay off straight away. While interest will still be charged, it will be charged at a far lower rate than other cards.
The Capital One Low Rate card also functions as a decent low rate balance transfer credit card, allowing you to transfer a balance (for no fee) and then pay only 8.5% interest on the balance until August 2012.
 Apply online for the Capital One Low Rate credit card now!
Capital One Low Rate Balance Transfer Card
Like it’s counterpart above, the Capital One Low Rate Balance Transfer card allows you to transfer a balance to the card and pay it off while enjoying a low interest rate (just 5.5%) on the balance until January 2011.
The snag is that there is a 1.7% balance transfer handling fee.
While the card sneakily offers 0% on purchases until May 2009, be warned that if you transfer a balance and make purchases on the card, you will not be able to pay off the purchases until the balance transfer amount is paid off in full.
This could leave your purchases attracting an interest rate of 15.9% after the 0% period ends.
Our advice is to use this card for purchases only, or for a balance transfer only. Not both together.
Apply online for the Capital One Low Rate Balance Transfer credit card now!
Capital One Low Rate Balance Transfer Card with no BT fee
This credit card from Capital One allows you to transfer a balance (with no balance transfer fee) and then enjoy a low rate of interest – 6.5% - on that balance until the beginning of 2011.
Like credit card also offers 0% on purchases until the beginning of May 2009, but as with the Capital One Low Rate Balance Transfer card, you do not want to be making purchases on this card if you have used it for a balance transfer and that transferred amount is not yet paid off.
The standard APR after the 0% introductory period on purchases has worn off is 15.9%.
Apply online for the Capital One Low Rate Balance Transfer (with no BT fee) credit card now!
The Capital One Classic Credit Card
Possibly the most popular credit card currently available – no doubt due to the instance decision offered upon application along with its leniency towards poor credit scores – Capital One continues to offer this credit card stalwart.
With an APR of 34.9% this is not a card to be running up any sort of debts on.
The ease with which people with bad credit scores or poor credit histories can obtain this card is a positive in the sense that it allows you to improve your credit score by demonstrating how you can be trusted with credit.
However, the stinging APR on this card should be a stark reminder to anyone who cannot control their spending that this not a card for them.
Apply online for a Capital One Classic credit card now...
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