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Updated on Thursday, September 13, 2018
Breaking down the balance transfer offer
The Capital One® Quicksilver® Cash Rewards Credit Card offers N/A and 0% intro on purchases for 15 months. After the intro periods, 15.49% - 25.49% (Variable) APR applies. This is an average length intro period and can provide you with the opportunity to rid yourself of existing debt and possibly avoid falling into new debt.
However, be aware that there is a typical $0 balance transfer fee. This fee is often outweighed by the amount you save by transferring a balance from a high-interest card to a card offering an intro 0% period — but if you want to increase your savings, check out no-fee balance transfer cards.
This card offers a subpar 1.5% cash back on every purchase, every day. We generally recommend cards that offer at least 2% cash back. However, there is a decent new cardmember offer: One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening.
Cash back can conveniently be redeemed for any amount at any time. Redemption options include a statement credit or check with the option to set up automatic redemption at a set time each year or when a specific threshold ($25, $50, $100 or $200) is met. Other redemption options include for previous purchases, gift cards, and more.
- No foreign transaction fee
- Shopping discounts: Receive discounts at online merchants and retailers.*
- Auto rental collision damage waiver: When you pay for an eligible rental with your card, you may receive coverage for damage due to collision or theft — at no additional cost.*
- Visa Signature® Luxury Hotel Collection: When you stay at one of over 900 Visa Signature® Luxury Hotel Collection properties, you can access premium benefits such as room upgrades and late check-out, when available.*
- Fine Wine & Food: You can access special dining and wine experiences and receive discounts or complimentary wine tastings at participating establishments.*
- Visa Signature® Concierge: Representatives are available 24/7 to assist you with various requests such as finding tickets to the top sports and entertainment events, booking travel, and making dinner reservations.*
- Travel accident insurance: When you pay for your common carrier trip (airplane, train, etc.) with your card and you may be be covered for accidental death or dismemberment, at no extra cost.*
- Lost luggage reimbursement: Your checked or carry on luggage may be covered up to $3,000 if your luggage is lost or stolen when your common carrier trip is paid entirely with your card.*
- Roadside Dispatch®: In the U.S. and Canada, if your car breaks down and you’re in need of towing and locksmith referral services, Roadside Dispatch® is available 24/7.*
- Travel and Emergency Assistance Services: When you’re away from home, representatives are available to help coordinate medical, legal, and travel services.*
What to know before completing a balance transfer
While a balance transfer can be a great way to get out of debt, there are a few key terms you should familiarize yourself with prior to completing your transfer:
- Balance transfer fee: At $0, this fee is typical, and most likely will be worth the amount you save on interest.
- Regular purchase APR: Any balances that remain after the intro period ends will incur a 15.49% - 25.49% (Variable) APR. As a result, it’s key to pay off any balances you accrued prior to the end of the intro period.
- Balance transfer window: Balances can be transferred any time during the intro period, but the longer you wait the less time you have to take advantage of the offer. Therefore, transfer balances when you open the card or soon after so you can reap the full benefits.
- How long the balance transfer takes to process: Balance transfers typically take up to 14 days to process, so we recommend continuing to make payments on your old card until the balance transfer posts to your account — this way you won’t rack up late payment fees.
How to complete a balance transfer with Capital One
We have a step-by-step guide on how to complete your balance transfer with Capital One here, which includes screenshots for each step.
What other cards should I consider?
For a flat-rate cashback program and a long balance transfer offer:
The information related to Citi® Double Cash Card – 18 month BT offer has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.
Citi® Double Cash Card – 18 month BT offer
- Annual fee
- Intro BT APR
- 0% for 18 months on Balance Transfers
- Balance Transfer Fee
- 3% of each balance transfer; $5 minimum.
- Regular Purchase APR
- 13.99% – 23.99% (Variable)
- Rewards Rate
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
The Citi® Double Cash Card – 18 month BT offer is consistently our top pick for a flat-rate cashback card. You can earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.. That’s compared to the 1.5% cash back on every purchase, every day you earn with the Capital One® Quicksilver® Cash Rewards Credit Card. Plus the balance transfer offer is longer with an intro 0% for 18 months on Balance Transfers (after, 13.99% – 23.99% (Variable) APR). Additional benefits of the Citi® Double Cash Card – 18 month BT offer include Citi® Price Rewind where you can register eligible items and Citi will conduct a 60-day search for a lower price, potentially crediting you for the difference if a lower price is found (up to $200 back per item, and up to $1,000 per year). Citi® Private Pass® also provides exclusive access to entertainment events.
For new purchases, balance transfers, rewards and a wide range of benefits:
If you’re looking to transfer a balance or pay for new purchases over time, The Amex EveryDay® Credit Card from American Express is a comprehensive card that can provide you with numerous benefits. There is an intro 0% for 15 Months on purchases and an intro 0% for 15 Months on balance transfers (after, 12.99% - 23.99% variable APR). This card also provides a great $0 balance transfer fee. On top of that, you can earn rewards on new purchases with 2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x), 1x points on other purchases. Other cardmember benefits include travel insurance, exclusive entertainment access, free two-day shipping at select merchants with ShopRunner, and more. Terms apply.
The information related to The Amex EveryDay® Credit Card from American Express has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.