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A new credit card deal by Capital One has been called "a great all rounder" by one credit card expert.

The Capital One Platinum MasterCard, which offers a 1.7 per cent balance transfer fee when the zero per cent balance transfer offer runs out in May of 2008, has been praised by Rob Kenley, head of credit cards at moneysupermarket.com.

He said: "With its lengthy introductory offers for both balance transfers and purchases, a low balance transfer fee and ‘go to’ rate, Capital One has hit the nail on the head. This card is a clear winner for people with multi-purpose credit card usage."

The card, which is available only to people with excellent credit ratings, also features zero per cent on purchases until May 1st 2008.

Mr Kenley wondered whether the low balance transfer fee reflected increasingly fierce competition in the credit card market.

He also pointed out that customers should choose a card that suits their spending habits, highlighting that someone who transferred £1,000, spent £250 a month for a year and only made minimum repayments, would be £414 richer if they opted for the Capital One offer instead of the NatWest Platinum deal which offers a longer period of zero per cent on balance transfers.

However, Capital One came last on a recent list of credit card customer satisfaction compiled by uSwitch.com.