Ocean Credit Card review 2023

Ocean's straightforward card is issued through Capital One and is for people whose credit rating is less than perfect.

Finder rating: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 39.94% (variable) p.a., your representative rate is 39.9% APR (variable).


Minimum credit limit

Up to 56 days

Interest-free each billing period


Representative APR


Account fee


IssuerCapital One
Annual/monthly fees£0
Balance transfers39.94%
Balance transfer fee2.9%
Purchases interest-free periodUp to 56 days
Money transfers39.94%
Cash advances39.94%
Minimum credit limit£200
Maximum credit limitSubject to status: £8,000
Additional cards available3

Review by

Chris 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

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 £8,000. 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.

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Pros and cons


  • Ideal if you have a poor credit rating
  • No fees for early repayment
  • One single interest rate for all transactions unlike other credit cards
  • Receive free text message reminders to pay each month
  • No annual fee


  • Low credit limit
  • Higher interest rates
  • You will be charged for going over your agreed limit or for making a late payment

How does it compare?

Ocean Finance's card

1 - 1 of 1
Name Product Ratings Finder rating Customer rating Annual/monthly fees Initial credit limits Minimum income Representative APR Incentive Link
Ocean Credit Card
Finder score
Expert analysis
Not yet rated
Min. limit £200, max. limit £8,000.
Not specified
Representative example: When you spend £1,200 at a purchase rate of 39.94% (variable) p.a., your representative rate is 39.9% APR (variable).

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Earn 1 Nectar point per £2 spent in Sainsbury's and Argos, and 1 Nectar point for every £5 spent elsewhere. Additional points can be earned by also using the Nectar card or app at the time of transaction. 1 point = 0.5p (min 500pts)
Representative example: When you spend £1,200 at a purchase rate of 29.4% (variable) p.a., your representative rate is 29.4% APR (variable).

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 Ocean Finance's app by logging in to your online banking or over the phone (0161 672 7575). 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 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.

The verdict

If your credit rating is not in the best shape right now but you still need a credit card, the Ocean credit card could be worth a look. While it unsurprisingly lacks the perks and features of more premium cards, as a “credit-builder” card, it’s more than suitable.

Although it comes with a low credit limit of between £200 – £8,000, there’s no annual fee and you could avoid missing a payment with the helpful free text message reminders.

You’ll have the option of using the Quick check service to find out whether you’re eligible without harming your credit rating. The Ocean credit card also scored an average 3 out of 5 stars in our 2020 Finder Customer Satisfaction Awards.

Frequently asked questions

What credit limit will I get with the Ocean Credit Card?

If Ocean Finance is able to offer you this deal, the offer will specify a personalised credit limit based on Ocean Finance's assessment of your situation. The minimum limit offered on the card is £200, while the maximum is £8,000. Once you've had the card for a while and shown Ocean Finance that you're reliable, you may wish to apply for a credit limit increase.

Can I withdraw cash using the Ocean 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 Ocean 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 39.94%, 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 Ocean Credit Card abroad?

Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£172.49), it'll cost you around £4.74 in fees.

Can I transfer money from the Ocean Credit Card to a bank account?

Yes. That's what's known as a "money transfer" (rather than a "balance transfer") in credit card jargon. You can arrange this from your online banking or using Ocean Finance's app. This part of your card balance will incur interest of 39.94%. The fee for a money transfer is 3% (min. £3).

Finder credit card ratings

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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.

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