How to Transfer Money from Capital One Credit Card to Bank Account

Capital One credit cards are some of the best credit cards you can have for various transactions. The company offers credit cards with competitive rates that thousands of Americans prefer over other companies. There are various ways you can use a credit card, and one of them is to transfer funds to your bank. We shall check how to transfer money from a capital one credit card to a bank account.

Transferring funds from your credit card to a bank account is always discouraged due to the high fees that accompany the process. Remember that when moving money with a credit card, you get what we call a cash advance. The issuers charge hefty fees when consumers use a cash advance. Even when you use your card to fund transactions on platforms such as Cash App, Venmo, and PayPal, you have to part with many fees.

For your information, credit cards from Capital One come with various rewards, as we shall see. For example, Savor and Venture are some of the best cards you can use for you’re dining and travel expenses, respectively, and earn decent rewards. Rewards are good as they help you to save money when you redeem them. Even though the rewards take a long time to accumulate to substantial amounts, they are better than none. 

How to get a credit card from Capital one

To apply for a credit card from Capital one, you need to visit the company and get started with your best choice. The institution must make a hard inquiry to make sure that you qualify for a credit card. Hard inquiry involves requesting your credit scores from the credit bureaus to check whether you are worthy of borrowing. If not qualifying, an issuer usually rejects your application or recommends another suitable card. Most of the company’s cards require excellent/good scores.

Of course, this is a financial company, and as per the federal government, you are supposed to provide the necessary details that will prove that you are a genuine person. A criminal can easily decide to apply for a credit card then never repay afterward.

Capital One normally pre-approves your eligibility without affecting your scores. You can see if you are pre-approved online using even your smartphone or tablet. There are all reasons to get a credit card from Capital One, and if possible, you can dump your current card to get one from the company. Furthermore, it is possible to transfer a balance from one credit card to another and repay your balance with 0% introductory APR.

What are some of the credit cards at Capital One?

transfer money from capital one credit card to bank account

There are various credit cards that you can get from the company as we speak. They include the following.

a) Capital One Savor Cash Rewards Credit Card

The card is best for cash backs. If you are the sort that prefers cash backs, then you are in the right place. You can get a 4% cashback on your dining and entertainment expenses, 4% on qualifying streaming services, and 3% at grocery stores.

Again, you can get 1% on all other purchases. The card has a regular APR of 15.99% to 24.99% variable. You require excellent/good credit scores to get it and you can be happy since it has no foreign transaction fees but charges a $95 annual fee.

b) Capital One Venture Rewards Credit Card

The card allows one to earn 60,000 bonus miles once you use $3,000 on your purchases within the first three months from opening your account. It comes with a 17.24% to 24.49% variable on your purchases and balance transfers. There are no foreign transaction costs with this card. You require excellent/good scores to get it.

c) Journey Student Rewards from Capital One

The card is mainly for students. You can earn 1% cashback on all purchases. You can pay on time to boost your cashback to around 1.25% for that month. It has no foreign or annual transaction fees and requires you to have average credit scores.

d) Secured Mastercard® from Capital One

The card has no welcome bonus. Again, it does not offer cash back, points, or miles and also does not require any borrowing history, and foreign transactions are free. It does not require foreign transaction fees and has a 26.99% variable on purchases plus balance transfers.

How to use Capital one credit card

There are various ways you can use any of the various credit cards from Capital One. You can do the following.

i) Buy goods and services

Like any other payment card, Capital One credit cards allow you to purchase goods and services. You can pay for your lunch, travel ticket, among others. Payment can be online or at physical shops. When paying online, you should provide the card number, expiry date, and CVV.

ii) Withdraw money from an ATM

You can easily withdraw funds from an ATM so long as you have your PIN and enough credit line to give you the money you want.

iii) Send money

You can easily transfer money from your card to another online. As I mentioned earlier, Capital One’s credit card allows you to access your account online with your phone or computer.

iv) Transfer money to a bank account

You can transfer money from your card to a bank account online or using other means, as we shall see shortly. Even though it is not a brilliant thing, sometimes you have to cater for some financial issues.

How to transfer money from a Capital One credit card to a bank account

Now back to our main agenda, where I will show you how to transfer money from a Capital One credit card to a bank account. You can transfer money from a credit card to a bank account when the need arises. Since Capital One credit cards are just the same as other credit cards, you will find that the transfer ways are just the same.

 The following are ways to move funds to a bank account.

1) Transfer money online

Capital One Credit card allows you to transfer money from your online account to your bank account. You need the bank details such as the account and the routing numbers. You will also need to prove that your account is yours by logging in using your password and username.

Since transfering money to other banks is not instant, you may wait for up to three days for the funds to appear in the bank account.

2) Transfer the funds at an ATM

ATMs allow you to withdraw funds, and then deposit them in your bank account. Once you withdraw the funds, you put them in an envelope with your deposit slip, and then push them in the deposit slot. The cashiers then pick and deposit them as per the information on your deposit slip.

By the way, you can use this method to transfer money from your credit card to a debit card. That is because the debit card automatically links to the checking account, and the funds automatically reflect in the debit card.

3) Transfer money over the counter

It is possible to transfer funds over the counter from your credit card to a bank account. You only need to present your card to a bank that accepts the card’s service provider  and then provide your documentation to the cashier, who then withdraws the funds and deposits them in the bank account of your choice.

4) Write a check

You can request the company to write you a convenience check that you can deposit in the bank account of your choice. Convenience checks allow you to send money to people who do not prefer the electronic way to move money.

How do you pay the debt of another credit card with Capital One?

It is possible to pay a credit card bill with another credit card when you perform a balance transfer. You can perform balance transfers to a Capital One credit card and enjoy various benefits. You may want some of the credit cards with cash back rewards and thus the need to transfer the balance. When transferring the balance, you must provide the other card details to the Capital one credit card, and you are all set.

To carry out the process, you have to;

  • Apply for a Capital One credit card.
  • Get approved.
  • Provide the current card details to Capital one and wait for the transfers to complete.
  • Start paying your debt.

Once you have finished your debt payment, you can then begin borrowing using the new card.

Can I get a Capital One credit card if you have no credit?

Capital one has secured credit cards that you can get even if you have no borrowing history. That means you have no scores whatsoever. If you get the Secured Mastercard® from Capital One, you will just require the security deposit, and you will be done.

Bottom line

Capital One has some of the best credit cards you can get in the country. Some cards allow you to apply even if you do not have a credit history. They are the secured ones. Most of the Capital Ones’ credit cards are unsecured and require good to excellent scores to get them. You can move money from your credit card to a bank account in various ways.