Customer rating
★★★★★
Satisfaction survey
81% of Capital One customers in our 2023 customer satisfaction survey would recommend the brand to a friend.
Interest rates will be higher than excellent-credit lenders'
Capital One Classic Credit Card review 2023
A no-frills card for those looking to build or rebuild a positive credit history.
You say: ★★★★★We say: ★★★★★
Representative example: Assuming a credit limit of £1,200 and an interest rate on purchases of 34.94% p.a. variable, you will receive a 34.9% APR representative variable.
£200
Minimum credit limit
Up to 56 days
Interest-free each billing period
34.9%
Representative APR
£0
Account fee
Details
| Issuer | Capital One |
|---|---|
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Minimum credit limit | £200 |
| Maximum credit limit | Subject to status: £1,500 |
| Purchases | 34.94% |
| Purchases interest-free period (days) | 56 |
| Balance transfers | 34.94% |
| Additional cards available | 3 |
Review by
Chris Lilly
chris.lilly@finder.comChris Lilly is a publisher at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more.
Expert review
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.
Find out which cards you are eligible for
- Check a range of cards in minutes
- No impact on your credit score
- One fast and simple form
Pros and cons
Pros
- Applicants with low credit scores may be eligible
- Customers report excellent customer service when dealing with Capital One
- No annual fee
Cons
- As with most credit builders, this card packs a fairly steep interest rate on purchases
How does it compare?
Capital One's card
1 - 1 of 1
Other popular credit builders
Table: sorted by representative APR, promoted deals first
Approval for any credit card depends on your status. The representative APRs shown represent 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.
Repayment options
You can make manual repayments through Capital One's app by logging in to your online banking or over the phone (03444 812 812). Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and damaging your credit score – making it harder and more expensive to borrow money in the future – and getting hit with a penalty fee (£12) 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
If you've compared cards and settled on the Capital One Classic Credit Card, 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'll need to make the process as straightforward as possible.
Frequently asked questions
What credit limit will I get with the Capital One Classic Credit Card?
If Capital One is able to offer you this deal, the offer will specify a personalised credit limit based on Capital One's assessment of your situation. The minimum limit offered on the card is £200, while the maximum is £1,500. Once you've had the card for a while and shown Capital One that you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the Capital One Classic Credit Card?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Capital One Classic Credit Card is 3% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250 and you'll incur a fee of £7.50.
The interest rate on this part of your balance will be 34.94%, which is the same as the standard purchase rate (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
How much does it cost to use the Capital One Classic Credit Card abroad?
Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£173.79), it'll cost you around £4.78 in fees.
Finder credit card ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our experts score credit builder credit cards to determine their value against similar products on the market. We look at a number of important factors, like interest rates, credit limits, features to help you track your credit, plus the potential costs involved with running the card both in the short and longer term.
You can read more about our scoring criteria on our credit card methodology page.
Find the right card for you
Check a range of cards in minutes with no impact on your credit score
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.