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 Luma Purchase Mastercard review January 2020
This credit-building card offers 0% on purchases for 3 months.
You say: ★★★★★We say: ★★★★★
Doing its job: 4/5
In a nutshell:
0% interest on purchases
|Min. credit limit||£200|
|Max credit limit||Subject to status: £1,500|
|Purchases||0% for 3 months reverting to 35.94%|
|Purchases interest-free period (days)||56|
|Additional cards available||3|
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.
If you don’t have perfect credit but you want to spread the cost of a large upcoming purchase, this Capital One card could help you.
There’s no annual fee to worry about. However, don’t forget that after the introductory 0% interest period on purchases any outstanding balance will start to accrue interest at the card’s standard rate.
How does this card compare with other similar cards on the market?
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 the Capital One Luma Purchase 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.