Capital One credit card interest rates range from 0% (for a limited time) to 29.74% (V), depending on the card and the cardholder’s creditworthiness. The best Capital One credit card for low interest rates is the Capital One Quicksilver Cash Rewards Credit Card because it offers 0% APR for 15 months on purchases and balance transfers, followed by a regular APR as low as 19.24% - 29.24% (V). This card also has a $0 annual fee.
The Capital One credit cards with the highest interest rates are the Capital One Platinum Secured Credit Card (29.74% (V)) and the Capital One Platinum Credit Card (29.74% (V)). They’re also the easiest to get. The Capital One Platinum Credit Card accepts applicants with limited, while Capital One Platinum Secured Credit Card accepts people with bad or bad credit.
Most Capital One credit card interest rates are listed as a range, such as 14.74% - 24.74% (V). The better an applicant’s credit is, the better their chances will be of getting a rate at the low end of the range. All Capital One credit card interest rates are variable, meaning they can go up or down as the market changes.
Capital One also has a number of store branded credit cards, which can only be used at specific retailers. The interest rates for these Capital One store cards range from a low of 19.49% - 31.24% (V) on the Cabela's Credit Card to a high of 29.99% (V) on the Maurices Credit Card.
Your Capital One credit card interest rate will be clearly indicated on your monthly statement. Keep in mind that there’s also a separate interest rate for cash advances. And there’s a penalty rate for missing payments. Expect both of these rates to be equal to or higher than the regular interest rate.
You need a credit score of at least 700 (good credit) for the best Capital One credit card offers. However, other options are available for people with lower scores. It is possible to get approved for a credit card from Capital One with limited credit history or a bad credit score, for example.… read full answer
If you’re not sure which Capital One card you’ll be able to qualify for, it’s easy to get pre-qualified for a credit card on the issuer’s website. You may also want to check your credit score before you apply, just so you have a better idea of what to expect.
You should also note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for a Capital One credit card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status, and housing status.
One way to lower the interest rate on a Capital One credit card is to call customer service and try to negotiate a reduced rate. Alternatively, if your financial situation is especially dire, Capital One offers a credit card hardship program.
More info on how you may lower a Capital One credit card interest rate:… read full answer
Calling customer service. Once you’re connected to a representative who can negotiate your interest rate, state your reason for seeking a reduced APR. If you’re suddenly having trouble making your payments, you could mention your past stellar credit history, if applicable. Or you might want to note your loyalty to the company if you’ve had their card for a long time. Speak politely but be persistent when you negotiate.
Apply for the hardship program. Call customer service and ask about the hardship program if you think you may qualify. Through this program, Capital One may waive the interest on an account to allow the customer to catch up on payments. The timeframe varies depending on the customer’s situation. However, these programs are limited to customers with significant hardships such as a job loss or medical emergency. Simply not paying the bill for several months does not count as a hardship.
Transfer your balance. The best way to lower the interest rate on a Capital One credit card is to transfer the balance to a 0% APR card from a different credit card company. You’ll need good or excellent credit to qualify for a good deal, but you could save a nice chunk of change.
Given that Capital One is not in the business of reducing interest rates out of charity, you’re unlikely to be successful unless you can somehow show Cap 1 that they’ll get more money from you in the long run with a reduction. So it’s good you have options.
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