Capital One: New credit card launched

13 April 2006
The new Capital One Platinum card has been launched this week.

The card offers zero per cent interest on balance transfers until August 1st 2007 and zero per cent interest on purchases for the first three months.

Its typical rate following the introductory period will be 15.9 per cent APR and any balance transfers will incur a two per cent uncapped fee.

Market research conducted by Capital One reveals that over half of the credit cards currently on the market offer zero per cent interest on balance transfers but only 2.1 per cent of those offers last for ten months or more.

As a result, the bank is billing this card as one of the best offers for new customers on the market; one of less than 30 per cent of new deals available to offer zero per cent on balance transfers as well as purchases.

"An interest free period is one of the main attractions of a credit card balance transfer offer but the majority of these last for only six months or less," commented Capital One spokesperson Justin Basini.

"We are committed to offering better rates for longer," he concluded.

Established in 1995, Capital One offers financing to customers in the US, Canada and the UK. It is a top ten credit card issuer on both sides of the Atlantic.

To find out more about credit cards, click here.

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