Capital One 1.99 % APR for Life of Credit Card Balance Transfer
Author: hallous
Posted: Wed May 17, 2006 1:45 pm
Post subject: CapitalOne 1.99 APR BT for life
I'm curious about how sane this idea sounds.
Does it make since to do a 1.99 APR for life BT of 30000 from my HELOC (at ~7.00 APR) to this capital one card? I just feel kind of uneasy about it because I'm not sure what my payments will look like and how well I can trust Capital One not to change the agreement on me.
Also, the offer states that the BT is fee free.
What do you all think?
Author: XeroK00L
Posted: Wed May 17, 2006 2:57 pm
Post subject:
Sure, take advantage of a lower APR whenever you can. In the unlikely event that Cap 1 doesn't honor the deal or you don't like the payments you have to make, you can always pay it off with the same HELOC. You have everything to gain and nothing to lose really.
Author: jlrdc909
Posted: Wed May 17, 2006 4:42 pm
Post subject:
Ummm, I thought Capital One didnt report credit limits, and if that is true, what is $30,000.00 debt going to look like????
Author: Ira
Posted: Thu May 18, 2006 1:51 am
Post subject: Capital One 1.99 % APR for Life of Credit Card Balance Transfer
Quote:
I'm not sure what my payments will look like
They'll look like....well.....payments!
But seriously, minimum will be 2% of principal which would be $600.00 first month. At 1.99% APR you'll start out with a finance charge of just under $50.00 (you do the math if you don't believe me) per month which will raise your initial minimum payment by just under a dollar. Of course you can always pay more than the minimum and thus retire the loan earlier.
My advice: take the money and run.
Quote:
I thought Capital One didnt report credit limits, and if that is true, what is $30,000.00 debt going to look like????
It will look like a very low interest $30,000.00 debt. Hey, which is more important, saving a pot of money over the long run or worrying about how that saving will affect some artificial number like a credit score?
To repeat myself, take the money and run! Every time!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Wed May 17, 2006 1:45 pm
Post subject: CapitalOne 1.99 APR BT for life
I'm curious about how sane this idea sounds.
Does it make since to do a 1.99 APR for life BT of 30000 from my HELOC (at ~7.00 APR) to this capital one card? I just feel kind of uneasy about it because I'm not sure what my payments will look like and how well I can trust Capital One not to change the agreement on me.
Also, the offer states that the BT is fee free.
What do you all think?
Author: XeroK00L
Posted: Wed May 17, 2006 2:57 pm
Post subject:
Sure, take advantage of a lower APR whenever you can. In the unlikely event that Cap 1 doesn't honor the deal or you don't like the payments you have to make, you can always pay it off with the same HELOC. You have everything to gain and nothing to lose really.
Author: jlrdc909
Posted: Wed May 17, 2006 4:42 pm
Post subject:
Ummm, I thought Capital One didnt report credit limits, and if that is true, what is $30,000.00 debt going to look like????
Author: Ira
Posted: Thu May 18, 2006 1:51 am
Post subject: Capital One 1.99 % APR for Life of Credit Card Balance Transfer
Quote:
I'm not sure what my payments will look like
They'll look like....well.....payments!
But seriously, minimum will be 2% of principal which would be $600.00 first month. At 1.99% APR you'll start out with a finance charge of just under $50.00 (you do the math if you don't believe me) per month which will raise your initial minimum payment by just under a dollar. Of course you can always pay more than the minimum and thus retire the loan earlier.
My advice: take the money and run.
Quote:
I thought Capital One didnt report credit limits, and if that is true, what is $30,000.00 debt going to look like????
It will look like a very low interest $30,000.00 debt. Hey, which is more important, saving a pot of money over the long run or worrying about how that saving will affect some artificial number like a credit score?
To repeat myself, take the money and run! Every time!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 4:15 PM
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