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.
Ocean Credit Card Review September 2019
Ocean's straightforward card is issued through Capital One and is for people whose credit rating is less than perfect.
Finder rating: ★★★★★
Doing its job: 3.5/5
In a nutshell:
Up to 56 days
Interest-free each billing period
Minimum credit limit
|Balance transfer fee||3%|
|Purchases interest-free period||Up to 56 days|
|Min. credit limit||£200|
|Max credit limit||Subject to status: £1,500|
|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 your credit score isn’t high, if you’ve missed repayments in the past or if you’ve had CCJs, getting a credit card can be particularly tricky. Specialist cards, such as the Ocean credit card, offer more lenient criteria for approval but have higher rates and lower credit limits.
The Ocean card comes with a credit limit of between £200 and £1,500. Your limit will be based on Ocean’s assessment of your circumstances, and this limit can be reviewed twice a year. Provided you use the card responsibly by staying within your credit limit and making at least the minimum repayment on time each month, it can help you to build or rebuild a positive credit history.
Ocean is perhaps better known for its loan products, and those who are not existing Ocean customers looking to keep their finances under one roof may struggle to see the appeal of this simple yet potentially expensive card. Refreshingly, there’s one single interest rate for all transactions (credit cards typically come with different rates for different parts of your balance, such as cash withdrawals), but, as is normal for cards for bad credit, this rate is relatively high.
The good news is that if you don’t carry a balance from month to month, you’ll be able to take advantage of up to 56 interest-free days on your purchases, meaning that despite that high rate, the card could cost you nothing.
Ocean’s credit card is issued on the Mastercard network, so it’s accepted at more than 35 million merchants and ATMs worldwide.
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 (0161 672 7575), 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 Ocean credit card
If you’ve compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, you can use Ocean’s “QuickCheck” service to find out if you’re likely to get approved. You’ll need to provide your address details for the last three years, and you’ll generally receive a response within one minute.
Finder credit card ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our team evaluates credit cards to determine their value against similar products on the market.
We look at the how good the card is for its designated purpose – spending abroad, clearing debt, earning air miles etc. – how costly it is to use day-to-day and whether it offers much in the way of extras.