Capital One Platinum Prestige MasterCard Review
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If you have excellent credit, this card offers one of the best balance-transfer deals out there.
Who the Capital One Platinum Prestige MasterCard Is For
Credit Rating Required
About the Capital One Platinum Prestige MasterCard
Pros
Cons
Rewards
APRs
Fees
Capital One Platinum Prestige MasterCard Card Review
The Capital One Platinum Prestige MasterCard card has some of the best balance transfer credit card features: a long zero-percent interest period, a relatively low interest rate after the promotional rate expires, quick balance transfers, and relatively low balance transfer fees.
Naturally there's a catch: you must have excellent - meaning perfect - credit to get the Capital One Platinum Prestige MasterCard. That means you've never been late more than 60 days on any of your payments.
If you qualify, the card has many advantages over other balance transfer cards. The balance transfer fee (3%) is relatively low; other banks charge as much as 5%. In addition, the 3% balance transfer fee applies to all transfers made during the first 12 months; many other cards charge a higher rate on subsequent balance transfers.
Capital One promises to pay off balances transferred within 48 hours after receiving a transfer request. I know from personal experience with Capital One that they make good on this promise. Other banks take several weeks to process balance transfer requests, forcing you to continue to make payments, sometimes needlessly, on your other accounts while interest accrues on them.
The other thing I like about Capital One Platinum Prestige MasterCard card is that the terms are more transparent than on other cards. Capital One is more upfront than other banks.
The only thing that would improve this card is to have the balance transfer fee waived, as Citi does on many of its cards. That would be too much to ask. Still, zero percent interest for a full year is still pretty good.
Recommendation
I highly recommend this card if you're looking to transfer a balance. But you must have flawless credit to get it.
Visit Their Website
Visit Their Website
If you have excellent credit, this card offers one of the best balance-transfer deals out there.
Who the Capital One Platinum Prestige MasterCard Is For
- People with excellent credit looking to save money on balance transfers.
Credit Rating Required
- Excellent (740+)
About the Capital One Platinum Prestige MasterCard
Pros
- Low interest rate after introductory period.
- No annual fee.
- Quick processing of balance transfers.
- Transparent terms.
Cons
- None
Rewards
- None
APRs
- Zero percent on purchases and balance transfers for 12 months, then 11.9 percent.
Fees
- No annual fee.
- Balance transfer fee: 3 percent of balance.
- Late payment fee: $15-$39.
- Over limit fee: $29.
- Returned payment fee: $39.
Capital One Platinum Prestige MasterCard Card Review
The Capital One Platinum Prestige MasterCard card has some of the best balance transfer credit card features: a long zero-percent interest period, a relatively low interest rate after the promotional rate expires, quick balance transfers, and relatively low balance transfer fees.
Naturally there's a catch: you must have excellent - meaning perfect - credit to get the Capital One Platinum Prestige MasterCard. That means you've never been late more than 60 days on any of your payments.
If you qualify, the card has many advantages over other balance transfer cards. The balance transfer fee (3%) is relatively low; other banks charge as much as 5%. In addition, the 3% balance transfer fee applies to all transfers made during the first 12 months; many other cards charge a higher rate on subsequent balance transfers.
Capital One promises to pay off balances transferred within 48 hours after receiving a transfer request. I know from personal experience with Capital One that they make good on this promise. Other banks take several weeks to process balance transfer requests, forcing you to continue to make payments, sometimes needlessly, on your other accounts while interest accrues on them.
The other thing I like about Capital One Platinum Prestige MasterCard card is that the terms are more transparent than on other cards. Capital One is more upfront than other banks.
The only thing that would improve this card is to have the balance transfer fee waived, as Citi does on many of its cards. That would be too much to ask. Still, zero percent interest for a full year is still pretty good.
Recommendation
I highly recommend this card if you're looking to transfer a balance. But you must have flawless credit to get it.
Visit Their Website
