Capital One® Platinum Prestige Credit Card

From the CompareCards.com Editorial Team:

Those who have excellent credit and want to transfer high-interest rate balances to a card with a much more affordable APR will probably find their needs perfectly met by the Capital One Platinum Prestige Credit Card.

Capital One is famous for rolling out a variety of different cards that target a very specific consumer profile, and this time they hit the bull’s eye by customizing a card to the needs of people who want to do a strategic debt consolidation balance transfer. Although this tactic of moving high interest debt to a low interest card has been around for a long time, it is harder to find cards that offer affordable enough terms to make it worthwhile because the transfer fees are high and so are the standard interest rates.

Capital One gets around all that by offering a 0% introductory rate for 12 months to qualified customers, plus a standard APR that goes as low as 10% for those with excellent enough credit history. So if you meet their criteria for the lowest rate then this card offers a stellar opportunity to save money immediately by transferring balances from other less affordable cards.

The Bottom-Line
This card offers a really sweet 0% introductory rate, and once that has expired the standard APR is still lower than most competitor cards. There is no annual fee, and although the balance transfer rate is rather high at 4% that is offset by the lower APR and the great introductory rate.This card offers a really sweet 0% introductory rate, and once that has expired the standard APR is still lower than most competitor cards. There is no annual fee, and although the balance transfer rate is rather high at 4% that is offset by the lower APR and the great introductory rate.

The Good
For those with great credit this is a fantastic balance transfer card. They can shift high-rate debt onto this card, enjoy a 0% intro rate, and then carry debt beyond the introductory period at what will still be an aggressively low APR.

The Not So Good
Those people who do not have excellent credit will not reap the primary benefits of this card, and neither will people who do not carry balances on their cards. The balance transfer fee is also pretty high at 4%, and that tacks on an additional charge to those trying to cut down on credit card balance expenses.