Capital One offers a wide array of financial products and services, including checking and savings accounts, credit cards, investment services, loans and business services. The company has more than 1,000 branch locations in the United States and serves more than 45 million customers, as of 2014. Capital One allows new customers to transfer balances from other cards to a Capital One card, which can save the customer money through lower interest rates and fees.
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You can transfer balances from other credit cards, personal loans, student loans and auto loans. However, you can't transfer any balances from an existing Capital One credit card, loan or account. To qualify for zero APR or no transfer fee cards, you will need excellent credit with few or no late payments.
Wait for Transfer Approval
After Capital One approves a balance transfer, it sends the payment to your creditor or lender within 10 days. Capital One encourages customers to continue making payments to that creditor or lender until your receive confirmation that the balance transfer payment has gone through. Transferring a balance over to Capital One does not automatically close that account. You must contact the other creditor to close the account once that account has a zero balance.
Lindsey Thompson began her writing career in 2001. Her work has been published in the Cincinnati Art Museum's "Member Magazine" and "The Ohio Journalist." You'll also find her work on websites like Airbnb, Chron.com, and USAToday.com. Thompson holds a Bachelor of Science in journalism from the Scripps School of Journalism at Ohio University.