Personal Finance

Capital One MC Platinium low interest 5.99%

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  • Sep 28th, 2012 8:41 am
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Sr. Member
Feb 9, 2011
883 posts
131 upvotes
Montr

Capital One MC Platinium low interest 5.99%

How good is this card? It has a low fixed 5,99% for 3 years on purchase and balance transfer and after 3 yers it becomes Canadian Prime + 4,99% I mean besides the mbna that is 0 interest for 15months theres nothing better ??
8 replies
Banned
User avatar
Feb 15, 2008
26318 posts
3242 upvotes
Calgary
On an unsecured, that's probably a fairly good deal.
TodayHello wrote: ...The Banks are smarter than you - they have floors full of people whose job it is to read Mark77 posts...
Sr. Member
Feb 9, 2011
883 posts
131 upvotes
Montr
what do you mean by unsecured??
Banned
User avatar
Feb 15, 2008
26318 posts
3242 upvotes
Calgary
tutchio wrote: what do you mean by unsecured??

By 'unsecured', the bank is lending against one's reputation, and not on the pledge of collateral such as a house, stocks, bonds, metals, etc.
TodayHello wrote: ...The Banks are smarter than you - they have floors full of people whose job it is to read Mark77 posts...
Deal Fanatic
User avatar
Mar 31, 2007
5069 posts
3306 upvotes
I got this today actually, assuming you're referencing the SmartLine one.
I'm a recent grad and my existing CC credit limits are...
$1000 (Student)
$2500 (Perks)
$2400 (Gas & Groceries)
and this new one from Capital One is $10,000, which is obviously a huge leap compared to the rest.

Looking at the sheet in front of me, you pay 1% of your new balance plus finance charges (typically it's 2-3% for other cards -- minimum monthly fee).
Fees: 0% for a 'standard' balance transfer' || Special balance transfer is 3% -- I'm uncertain what's "special" and what isn't, but I'll verify later.

Everything else is the same ol.

Generally though, I haven't seen much better, but I think MBNA has a gold card that's low interest as well. If you do sign up though, be sure to use GCR for the $20 rebate.
Sr. Member
Feb 9, 2011
883 posts
131 upvotes
Montr
I applied on this card I was approved will get in abt ten days

hopefully i can transfer a balance of one of my cibc that is 11.9% interest
Newbie
Sep 26, 2012
3 posts
NEPEAN
How many years credit history did you have when you got approved!
Jr. Member
Apr 2, 2009
103 posts
74 upvotes
GTA
I actually have an older version of this card that is 5.99% for life. It has a huge limit on it, so I use it like I would a line of credit.

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