Capital One
Fine print on 9.9 percent transfer offer causes over-limit fees

Lately I've been getting offers on my Capital One card to transfer a balance at 9.9 percent. Also if I don't have enough credit line for the transfer they will increase my limit by enough to cover the transfer up to a max $1000 increase. After the increase, as I pay down my balance, my credit limit increase stays. Sounds pretty straight forward right.

Now the fine print buried on the last page. After your balance transfer goes through it could (means will) take up to two billing cycles for your credit limit increase to go through. So there you go, two months over the limit fees before your increase kicks in. And it gets better. Any late or over the limit fees kick out the 9.9 percent and the default highest rate kicks in.

What a joke! I'd have more respect if they just sent me something that said sign here to transfer a balance and default my account to the highest rate.

Please people it's all out war with banks and credit card companies over fees these days. Be informed, read all the fine print, keep your balance down below your credit limit, keep your checking account out of overdraft. Don't let them win

Company: Capital One
Country: USA
State: Virginia
City: Richmond
Address: PO BOX 85015
Phone: 8006085227

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