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Loan Transfer at 2.9% APR
Old 05-18-2004, 04:30 AM   #1
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Loan Transfer at 2.9% APR

Capitial One is offering loan transfer at 2.9% APR for the full term. You can transfer any kind of loans, i.e., personal, auto, home equity, etc. They provide you with checks that you can write to pay off your current debts. They say there is no catch; that is, there is no transfer fee. I wonder there must be something, i.e., maximum amount you can transfer, maximum term limit (one year or less?)...
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Re: Loan Transfer at 2.9% APR
Old 05-18-2004, 08:52 AM   #2
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Re: Loan Transfer at 2.9% APR

Thanks for the advice. One of the way to avoid fee is to setup an automatic payment plan from your bank account and be sure to have sufficient fund available (in the account) to cover any changes in the terms. 8)
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Re: Loan Transfer at 2.9% APR
Old 05-18-2004, 04:20 PM   #3
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Re: Loan Transfer at 2.9% APR

I have maxed out a bunch of credit cards to take advantage
of their promo rates, which has worked out well.
However, in spite of a spotless record, no one will
touch me now, in terms of any significant new credit
cards or credit limits. I'll bet I have sent in 5 or 6 new
applications. All declined. I have significant net worth
and no blemishes, yet I am not wanted. At the same time
the CC companies are issuing cards to college
students, and people with no jobs. I am not complaining
though. They have to have standards to issue.
Analyzing every app. on its individual merits is not

John Galt
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Re: Loan Transfer at 2.9% APR
Old 05-19-2004, 05:17 AM   #4
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Re: Loan Transfer at 2.9% APR

I've never had anyone cancel on me, other than for
non-use of the card. I built up this mountain of
credit cards back when I was working, i.e.
it's been well over 5 years now. I believe that I still
have about the same credit available as I did back then.
It's ironic that now that my credit is even more golden than it was (yes, I have seen my credit report), new
apps. are routinely turned down. I suppose they
are afraid I will take all that free money and move to

John Galt
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