About Capital One MasterCard credit card...
- 0% on balance transfers until March 2009
- 0% on purchases until March 2009 too
- Free Identity Theft Services
The Capital One MasterCard credit card kills two birds with one stone. Not only do you get a rather nice 0% interest on balance transfers until March 2009, you'll also get 0% interest on purchases until March 2009 too.
Whilst the 0% on balance transfers isn't by any means the longest running deal out there, the fact that it's coupled with 0% on purchases for the same length of time is an attractive proposition - especially if you need a credit card you can spend on too.
What's more - in light of recent issues with banks being less than careful with their customers' personal details and the increasing worry over Internet fraud, Capital One is facing the problem head on.
A free identity theft service along with the option of registering online for free Identity Alerts powered by Equifax is yours when you sign up for their Capital One MasterCard credit card.
It's always good to know you're in safe hands - and with these security measures in place, with Capital One, it looks like you're set to be.
Apply for Capital One MasterCard credit card 
| Interest Rates and Fees |
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|
Notes.. |
| Typical APR |
19.9% APR (variable) |
The typical APR is the rate most people are offered.
|
| Introductory Purchases |
0% until 1 March 2009 |
Payments are applied towards introductory rates first. |
| Balance Transfers |
0% until 1 March 2009 |
Payments are applied towards introductory rates first. |
| Balance Transfer Fee |
3% |
When you transfer a balance to this card you will be charged a 'handling fee'. |
| Cash Withdrawal Rate |
25.94% p.a. (variable) |
This is the rate you are charged on balances resulting from using a cash machine, getting cash back at the supermarket or buying foreign money. |
| Cash Withdrawal Fee |
3%
(£3 minimum) |
When you use your credit card to get cash you will be charged a 'handling fee' for doing so. |
| Annual Fee |
£0 |
-
|
| Foreign Transaction Fee |
2.75% |
This is fee you will be charged for credit card transactions made abroad.
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| Cardholder Services & Extras |
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|
Notes.. |
| Online Account Management |
Yes |
You can manage your Capital One MasterCard credit card account online. |
| Internet Fraud Guarantee |
Yes |
You will be protected against Internet fraud when you shop online with the Capital One MasterCard credit card. |
| Identity Theft Service |
Yes |
Help and guidance on how to prevent identity theft, as well as you own named advisor to help with your case from start to finish if you ever experience identity theft. |
| Optional Extras |
Payment protection |
These are extras that you can choose, but you will have to pay for them. |
| Payments & Payment Details |
| |
|
Notes.. |
| Credit Limit |
£1500 minimum, £16000 maximum |
Credit limit may vary from person to person and is subject to status. |
| Interest Free Period |
Up to 56 days |
For purchases if you pay your balance in full and on time each month. There is no interest free period on cash withdrawals or balance transfers. |
| Minimum Monthly Payment |
3%
(£5 minimum) |
The minimum monthly payment is the smallest amount you must pay each month (unless your credit card balance is zero). |
| Allocation of Payments |
Fees, interest, balance transfers, purchases and then cash withdrawals |
When you make a payment to this card they will be applied to charges / balances in this order. |
| Default Charges |
£12 |
This is how much you will be charged for late payments, returned payments, if you go over your credit limit and returned credit card cheques. |
| Card Details |
| |
|
Notes.. |
| Online Application |
Yes |
You can apply online for the Capital One MasterCard credit card. |
| Card Type |
Platinum |
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|
| Payment Company |
MasterCard |
This is the company who provides the payment technology and infrastructure to allow you to use this credit card. retailers and ATM machines displaying the 'MasterCard' logo will accept this card. |
| Card Issuer |
Capital One |
This is the bank behind your credit card. |
| Card Advertiser |
Capital One |
This is the company who advertises and promotes this credit card. |
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Capital One MasterCard Credit Card
| Typical APR |
 19.9% APR |
 |
| Intro Purchases |
| 0% until 1 March 2009 |
|
| Balance Transfers |
 0% until 1 March 2009
3% transfer fee |
| |
| Interest Free Period |
| Up to 56 days |
|
| Annual Fee |
| £0 |
|
 |
| You should only apply if you are: |
| • Aged 21 or over |
| • UK resident |
| • Earn more than £10,000 per annum |
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More about Capital One MasterCard credit card...
The Capital One MasterCard credit card is aimed at people with a good - but not excellent - credit rating. This means, that while the card still offers the same introductory deals as Capital One's Platinum credit card, the APR is somewhat higher.
The interest rate of 19.9% APR (variable) is, by no means, the cheapest rate out there, and if you have an excellent credit rating the same deal with a much lower standard APR is available on the Platinum card.
However, the Capital One MasterCard credit card opens up an equal length 0% offer on both balance transfers and purchases for people who are not able to get the platinum version.
0% balance transfers and purchases
The Capital One MasterCard credit card's best feature is the equal length 0% offer on both balance transfers from current credit cards and on new spending.
This equal length offer runs until March 2009 - approximately 9 months of interest free credit on both types of transaction.
9 months is not the longest 0% balance transfer deal or the longest 0% purchase deal - but equal length offers are few and far between and carry enormous benefits for anyone wanting to transfer an existing balance and spend at 0% on the same card.
An equal length offer is advantageous as it rules out any downfalls of an allocation of payments clause. This is a terms and conditions listed clause that states the order of transactions that will be paid off when you make a payment to the account.
For unequal length offers, this can mean purchases accrue interest charges while all your payments go towards paying off the cheaper - or 0% - balance first.
With the Capital One MasterCard credit card this won't happen, as both balance transfers and purchases will remain at 0% for the same period.
But, as with all other 0% offers, you will need to watch out for cash transactions (ATM withdrawals, foreign currency purchase, gambling, etc...) as these won't be included in the 0% deal and will attract interest while your payments go towards items at lower or 0% rates.
Choose your own card design
A quirky little extra with Capital One credit cards is the fact that you can choose your own card design. There's a few 'stand-out-from-the-crowd' designs such as a rather snazzy zebra, tiger, chimpanzee, cat or pig... or if you're after the more subtle variety of card design, you can still opt for the standard silver platinum design.
Applying online
The online application for this card will take about five minutes and Capital One promise an easy balance transfer (with a 3% fee - pretty standard on credit card balance transfer deals).
You will need to have a 'good' credit rating to be accepted for this card (anyone with a very tarnished credit history should look at the Capital One Classic credit card to help rebuild and strengthen your credit rating).
Capital One's explanation of 'good' notes that you should have existing or previous access to credit cards, loans or overdrafts, have had a credit card for at least 3 years and that you do not have any credit defaults such as CCJ's or current arrears.
Final Word
The real benefits of the Capital One MasterCard credit card lie in its 0% on balance transfers and purchases until March 2009 and the free security services.
It is important to bear in mind that you should be able to repay any balance transfer and new spending before the end of the 0% period, or be prepare to switch cards again for another 0% deal.
The Capital One MasterCard credit card opens up an equal length 0% offer for people who have a good - but not outstanding - credit score.
Apply for Capital One MasterCard credit card
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