Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.
Capital One Classic Mastercard review July 2020
A no-frills card for those looking to build or rebuild a positive credit history.
You say: ★★★★★We say: ★★★★★
Doing its job: 4/5
In a nutshell:
Minimum credit limit
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
Capital One’s most popular credit card is a “credit builder”, meaning it’s designed for customers with a less than perfect credit record, or simply not much in the way of credit history. Use it responsibly, and this card could help you to improve your credit score (and in turn access better rates).
As you might expect, opening credit limits are likely to be relatively low (the maximum you’ll be offered initially is £1,500), but provided you don’t miss repayments, you could be rewarded with two optional credit limit increases a year.
There’s no annual fee, and if you clear your balance in full each month you’ll be able to take advantage of the 56 interest-free days on purchases. The card’s standard interest rate is high, making it an expensive option if you don’t clear your balance in full each month.
How does this card compare with other similar cards on the market?
Capital One’s card
Other credit builder cards
When it comes to repayments, you can make manual repayments online or over the phone (03444 812 812), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
How to apply for theCapital One Classic Mastercard
If you have compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you will need to make the process as straightforward as possible.