Groundbreaking Credit Card Rates Are No Longer Just Short Term New Credit Card Offers 4.99% Fixed - The Lowest Long-Term Fixed Interest Rate in the Nation for Purchases and Balance Transfers MCLEAN, Va., Jul 9, 2003 /PRNewswire-FirstCall via COMTEX/ -- As interest rates hit historic lows this summer, many consumers are securing record-low interest rates on mortgages, student loans, and new car loans. Leading the credit card industry in responding to increased consumer demand for lower long-term fixed interest rates, Capital One (NYSE: COF) today introduced a credit card with a fixed interest rate of 4.99% -- the lowest long-term fixed rate in the nation. The 4.99% fixed interest rate offers customers with excellent credit histories an opportunity to save money and increase their purchasing power using the best priced credit card available. The card joins a long list of competitive product offerings from Capital One that include a range of rewards and low pricing features designed to meet the needs of individual consumers. "The financial services industry is seeing increased consumer demand across the board for competitive interest rates. Whether they're looking for a mortgage, an auto loan, or a credit card, comparison shopping is important. Looking for the best rate and terms available can save consumers money. Capital One's long-term fixed interest rate credit card will benefit consumers with established credit who are paying higher interest rate fees than necessary and provide them with a more affordable option for credit purchases," stated Diana Don, spokesperson for Capital One. Consumers who qualify for Capital One's new Platinum MasterCard(R) will save with a 4.99% fixed APR that applies to new purchases and balance transfers of various loan types, including personal, home equity, automotive, retail/department store, and other credit cards. Unlike many competitors, this is not an introductory rate. The card also offers savings and convenience with: * No balance transfer or cash advance fees * No annual fee * Zero liability for fraudulent or unauthorized charges to your card -- online or off * Customized payment dates "Capital One understands that credit smart consumers want low rates. Our long-term fixed rate credit card offers consumers greater purchasing ability and cost-savings through lower interest rate charges on both transferred balances and daily purchases -- a combination that can save consumers hundreds of dollars every year," Don added. Solicited consumers can apply for the card online by visiting www.getmycard.com. About Capital One Headquartered in McLean, Virginia, Capital One Financial Corporation (www.capitalone.com) is a holding company whose principal subsidiaries, Capital One Bank and Capital One, F.S.B., offer consumer lending products. Capital One's subsidiaries collectively had 46.4 million managed accounts and $59.2 billion in managed loans outstanding as of March 31, 2003. Capital One, a Fortune 500 company, is one of the largest providers of MasterCard and Visa credit cards in the world. Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 500 index. SOURCE Capital One Financial Corporation Diana Don of Capital One Financial Corporation, +1-703-720-2371, or diana.don@capitalone.com The link: http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=COF&script=410&layout=-6&item_id=429567
4.99 on a credit card? I just calculated it, If I get a cap 1 credit card and "trust" them (meaning that they won't jack up the limit), I can pay my auto loan+ credit card balances+Home Equity and I will save a thousand dollars of interest. But do I trust them? .. no. Not with that much money. I don't see any Capital One branches where I live, They seem like they are in for the short-run. I sounds like a good card tho. Bank One is 4.25 from what I see here. Bank One Plat
CAPITAL ONE "HAD" A MAX CREDIT LIMIT OF $20,000...I have no idea if that is still true... The card I now have has a MAX CREDIT LIMIT OF $7,500...MR COOKE BUMPED IT TO $9,500...but I can't get any "AUTOMATED" limit increases...because the "COMPUTER" thinks that I am already OVER THE MAX CREDIT LIMIT!!!
Anyone care to post the terms and conditions? There has to be a lucrative "rate jack" clause in there somewhere.
Re: Capital One 4.99% fixed Plat. M Terms and Conditions are not yet published I can't find it They might be trying to raise their stock maybe? "Microsoft giving out 10 billion in dividens" in the news too, so....
I received the BoA 4.00 BT offer, but they charge a cash advance fee for using the checks now, don't they? I am sure that is what I read in the offer.
Re: Re: Capital One 4.99% fixed Plat. MC!!! NO CHECKS...I use ON-LINE BT or CALL on the phone...NO FEE!!! CASH ADVANCE CHECKS ARE LIKE ABOUT 20% + A FEE...
It's funny to read that PR release from Cap One. I recently got an offer from them: 14.99% APR $29 annual fee CL up to $2000 All this in a "Platinum" MasterCard
Re: Re: Capital One 4.99% fixed Plat. MC!!! They do not charge a fee to use the check with my bt offer. HOWEVER, I wrote a bt check to Amex once. Amex processes the checks electronically, so it went through without the check number and without the check number, it was treated as a cash advance at the 19.9 cash advance rate with a cash advance fee. BofA eventually straightened it out for me, but my balance reported to the CRA that month was a couple of thousand over limit because of the incorrect fees. BofA knows what kind of check you write by the check number. When Amex sent it through electronically without the check number, BofA didn't know it was a check for that bt offer and treated it like a normal cash advance!
Re: Re: Capital One 4.99% fixed Plat. MC!!! Don't mean to assist witht he hijack of this thread, but has anyone used one of the new BofA checks that were sent out at 4%. It is my understanding, please correct me if I am wrong, but I can write one of these checks and deposit it in my account and they will charge a 50 dollar "cash advance fee" but still only charge me 4% on the money. That's how I read the promotion. Anyone have anything different. George, can you do a balnce transfer online with BofA to your own personal checking account?????
Re: Re: Re: Capital One 4.99% fixed Plat. MC!!! yes 50 dollars and you can use them either way........
Re: Re: Re: Capital One 4.99% fixed Plat. MC!!! BofA must have changed the offer, because there wasn't a fee before.
Re: Re: Re: Re: Capital One 4.99% fixed Plat. MC!!! As I said, this is different than the offer I had. There was no fee on the checks or if I called or if I did it online.
Re: Re: Re: Re: Capital One 4.99% fixed Plat. MC!!! Thanks for the info. This is like free money. I've done this a few times in the past months with banks that let you deposit the checks and they treat them like balance transfers. I use it to day trade on stocks. I don't do anything but use real safe comanies(Intel,Coke,GM, etc) and use approximately 10K of the banks money. I have made from 100 to 600 dollars a day doing this. I have lost 50-100 on a couple of days but no more than two or three. I pay the bank back before the statement is generated, paya few bucks in interest and everyone is happy.
Re: Re: Re: Re: Re: Capital One 4.9 same here - no fee - also if you deposit into personal checking - as far as i can remember - i'll double check when i get home
