A balance transfer credit card is an excellent tool to help you dig your way out of credit card debt. By choosing a new credit card with a great intro APR and low balance transfer fees, you can pay off your credit card debt much faster without increasing your monthly payment or breaking the bank. Capital One offers several balance transfer credit cards that will supercharge your debt pay down. Read on to learn the ins and outs of doing a Capital One balance transfer.

Pick and apply for the right card for your transfer

Before choosing a card for a balance transfer, you should have an idea of your credit scores. Many of the best balance transfer credit cards will only be available to you if you have good credit scores — usually considered a score of 700 or higher. Being above that mark makes it much more likely that you’ll be approved for a credit card with a great intro APR offer for balance transfers and a lower standard APR on purchases and balance transfers.

Capital One has several credit cards that are great for balance transfers. We’ve picked out a couple of cards that are exceptional for their low fees, long intro APR periods and low standard APR on balance transfers. If you would like more options, you can check out our full guide for the best balance transfer credit cards.

Before we dig into our favorite Capital One credit cards for balance transfers, we want to note that these cards also offer cash back rewards. Although it may be tempting to take advantage of these rewards, just remember, you’re using a balance transfer credit card to get out of credit card debt. As such, you’ll want to use your card responsibly to avoid putting yourself back in the same position.

Best Capital One balance transfer credit cards:

Capital One® Quicksilver® Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card can be an excellent tool to help you get out of credit card debt with a balance transfer. Featuring no annual fee and a 0% intro APR for 15 months on purchases and balance transfers (then it’s 15.49% – 25.49% (Variable)), you’ll have over a year to pay off your existing debt without being charged any more interest. Whatever balances you transfer during the intro period will see a 3% balance transfer fee, which is more than worth it to land the 15-month 0% intro APR period.

Quicksilver’s perks and rewards also make it worth keeping long after the 0% intro APR is paid off. That’s because you’ll earn 1.5% cash back on every purchase. On top of that, you can also earn a $150 bonus when you spend $500 on purchases with Capital One Quicksilver in the first 3 months.

Capital One® SavorOne® Cash Rewards Credit Card

Another great balance transfer option is the Capital One SavorOne Cash Rewards Credit Card. If you want a card that will reward you for your date nights and dinners with friends after you pay off your credit card debt, then SavorOne is right for you. With no annual fee and a 0% intro APR for 15 months on purchases and balance transfers (then the rate is 15.49% - 25.49% (Variable), you’ll quickly be able to knock out your credit card debt and go back to enjoying your dinners without having to worry about what it will cost you in interest. Like Quicksilver, SavorOne also comes with a 3% balance transfer fee that will be added to your new balance, however the 15-month 0% intro APR and ongoing cash back rewards will likely balance out this one-time fee.

You can also use SavorOne to earn cash back rewards on purchases. You’ll earn unlimited 3% cash back on dining and entertainment purchases, 2% back at grocery stores and 1% back on everything else you buy. SavorOne also rewards you with $150 bonus cash after you spend $500 on purchases in your first 3 months.

Initiate the transfer

To get started with a balance transfer, you first need to apply and be approved for the credit card you want to transfer your balance to. Capital One lets you request a balance transfer on the credit card application but states that transfers will generally be available 10 days after your account opens.

To initiate the transfer, Capital One will ask for some basic information for your current credit card like the name on the account, the account number and the billing address. After you provide this information and hit “apply,” Capital One will evaluate your application and decide if you’re qualified for a balance transfer or not. Remember, you can be approved for a credit card but denied for a balance transfer request. Also, the balance you want to transfer plus any balance transfer fees must be less than your available credit limit on your new card.

Follow up

After your balance transfer is approved, it will take several days or weeks to process and complete the transfer. During that time, you should keep making payments to your old credit card since you are still responsible for that account. To finish the transfer, Capital One will pay the transfer balance on your old credit card and add it to your new card. At that point, if you transferred your entire balance, you’re free to either close the old account or leave it with a zero balance.

Once your credit card balance is transferred to your new Capital One account, you should work to pay off the entire transfer balance before your intro APR period ends so you don’t start racking up interest charges again. Create a plan for how much you need to pay toward that balance every month to make sure it is wiped out before that point. You should also start adjusting your spending habits so you’ll be able to avoid falling back into the same situation again.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.