Ok! First of all.....After taking someone's advice and calling Capital One direct with the questions I had, I found out the reps at Carnival didn't know what they were talking about when the rep told me I had to have TA call to make the switch from my Visa to Carnival card!!!!!! The Carnival rep was VERY insistant that I HAD to have my TA call Carnival to refund my Visa and then charge it to Carnival Capital One card. I thought that seemed odd!!! But who was I to argue with Carnival???
Anway, I called Capital One..and here is the lowdown!
1. A transfer to Capital One in the maximum amount from another credit card is $5,000.
2. That transfer can be used right away for 5000 points on the Carnival cruise. (After calling Capital One for the points and confirmation number and then 48 hours later call to Carnival with the # and what you want to redeem the points for.)
3. All purchases whether they are Carnival related (in the amount of credit given you on the Carnival card, which is determined by your credit history) are applicable to use for cruise. Purchases don't have to be Carnival related.
4. You do not have to pay charges off before accumulating and using points.
5. If you charge your cruise THROUGH Carnival or TA, that charged amount will automatically be 24 monthly installments paying off the full amount charged. BUT, if you do like we are by transferring the amount, you can pay the minimum (or more)payment as you would on any other charge card.....(no monthly installment). SO, I am glad that we are transferring balance because I didn't want a monthly installment plan!
6. The interest rate that Capital One has is the same as my Visa so....I would be crazy not to transfer the $5000. AND if Capital One interest rate goes up.....I can always transfer to a different credit card company!
Cathy in Indiana!