Capital One Credit Cards | www.capitalone.co.uk

Last Update: September 10th, 2016

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Capital One Credit CardsCapital One was formed in 1988 and they made their way to the UK in 1996. They have 40 million customers worldwide. Around 4 million people have taken out their Classic card. This is their main subprime product for credit building that is joined by Balance Plus that has a low rate on transfers. This Virginia-based financial group naturally dedicates much of their focus on their home country. Here they have acquired several retail banks and are now a top 10 bank based on deposits made. Internationally, they have pulled out of France, Italy, South Africa and Spain. This now leaves us with the UK and Canada. They offer many more cards to the Canadian market.

Here in the UK there are just the 2 card options available. There was a greater range at one time (including the Aspire line), but these were pulled. Alike their main subprime rival Vanquis, they have engaged in affinity partnerships. They have teamed up with Shop Direct for their Littlewoods and Very brands. Then there is also Luma, Ocean Finance and more recently ThinkMoney. The main application site (www.capitalone.co.uk) is referenced today, but the login for all of the cards issued is taken on at Capital One Online (over at www.capitaloneonline.co.uk). We have created a different page since there are several companies that use it. The Capital One Classic credit card is a MasterCard that comes with a limit between £200 and £1500.

Potential advances on limits occur twice a year. The interest on the card is 34.9% APR (34.94% purchases). This is variable, but it doesn’t state how high the rate can reach. For the Classic card they are fairly lenient with bad credit whether that’s CCJs or defaults. It is important though that you at least have some past borrowing activity. It is also essential to be listed on the electoral roll. Just to cover the basics of Balance Plus, the limit here is £2000 to £12,000. It has a high standard purchase rate of 19.94%, but for balance transfers you only pay 6.94% interest and you won’t have to pay a fee.

Qualifying customers need a tiptop score and so even missed payments could see a decline. It states that they are more likely to accept those earning at least £20,000 who are over 21. When applying at www.capitalone.co.uk the response time is 60 seconds. You may have spotted their QuickCheck tool in advertisements whereby they headline that you can gain 100% certainty of acceptance before you apply. If accepted it’ll take between 7 and 10 working days to receive it. For contact, general account support is provided 24 hours a day (it is not made clear if this is 24/7). New and existing application plus extra cardholder queries are however cut back to Monday to Friday (9am/5pm).

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