Capital One offers credit cards to help people improve a bad credit rating and is the only card provider with a 4-star credit card rating from Fairbanking.
Capital One is one of the UK’s top ten largest card providers starting back in 1996 and has based its ethos around a fair and holistic approach to providing credit. It helps do this with tools like its QuickCheck eligibility checker; to quickly and easily check your eligibility for a card for free, without damaging your credit score.
Furthermore, it bases its approach around simplicity, clarity and customer support. Capital One offers a streamlined and understandable application process along with transparent card charges and rates, and full support in managing your account.
Compare Capital One credit cards
Types of credit cards from Capital One
Capital likes to stress that its customers choose the right card for their individual needs as this is one of the most important stages in proper credit management.
Credit building cards
Capital One has a range of cards that might work for you if you have bad credit and you need to improve your credit health. Even if you have a bad credit rating, you may be able to get one of these cards and provided you consistently make the monthly payments on time and stay below the monthly limit, it could help you build up your credit score to a healthy level. These are potentially suitable for a range of borrowers with no credit history, to those with bad credit history and now find it difficult to obtain credit. While these cards might also come with a small credit limit, this can increase over time with more evidence that you are able to use it responsibly.
Balance transfer cards
These cards offered by Capital One are designed to transfer balances from other credit cards or existing debts to a lower interest rate. Sometimes these cards can offer interest rates as low as 0%. Capital One suggest that these cards could be a suitable option for those wanting to save money on expensive interest payments, and to simplify debt payments.
Capital One typically charges a one-off fee to make a balance transfer and the low rate could be removed if payments are missed.
The benefits of banking with Capital One
Capital One offer many benefits for credit card customers and these are just some of them.
Capital One strives to help customers choose the right card for them and ensures customers know what they are signing up for. They therefore have QuickCheck, a rapid response service that checks if you are eligible to apply for a credit card in as little as 60 seconds. It will not affect your credit score and they say it provides 100% certainty before you actually apply for a card.
Credit score checking
Capital One has a tool called CreditWise which is able to provide your Equifax credit score for free. This works in minutes and won’t affect your existing credit score.
Capital One looks to set itself apart in its customer service, which is available 24 hours a day, 7 days a week. They encourage customers to call in whenever they have an issue, need an assistance with their existing account, or have any queries before applying for a card.
Capital One offers a range of services via mobile banking that could make managing a credit card account more simple and secure. This includes fingerprint technology or a 6-digit passcode for secure log-in. There is also up-to-date account management so you can always see how much you’re spending, your latest transactions as well as how much credit you have left.
Extra cardholder and balance transfer
With Capital One you are often able to get up to three extra credit cards for family members which might help manage household finances.
When you take out a Capital One credit card, you get a range of support features to help boost security. This includes anti-fraud protection and monitoring, day to day online security and ID theft prevention support advice.
How to apply for a Capital One credit card
Capital One has tried to make the application process transparent and clear. First you need to check your eligibility by filling out a simple online form that requires your personal information relating to identity, employment, income status and your address.
While every application will be decided on an individual basis, the following basic requirements are needed to give you a good chance of applying for a credit card with Capital One.
- You are over 18 years old.
- You have some history of managing your own credit, even if you have had a CCJ in the past.
- You’re on the electoral roll.
- You don’t have a history of bad debt.
- You have been working more than one year if self-employed.
Capital One advises using the free QuickCheck service to check if you are likely to be accepted for a card. It takes 60 seconds and does not affect your credit score. It will also help by suggesting a card that you might be suitable for.
Why might you not be approved?
Unfortunately, Capital One may be unlikely to approve for a credit card if you have not had any credit in the UK before, or if you have declared bankruptcy in the last year.
Frequently asked questions