Capital One Classic Credit Card Review
 Best Buy credit card for a poor credit history
Improve and rebuild a bad credit rating
Instant decision on your online application
2 FREE credit reports a year from Equifax
Best Buy alert! The Capital One Classic credit card is currently the best buy credit card for features and services for people with a poor credit history or who are new to credit - check it here.
THE Capital One classic credit card is geared to helping people with a poor credit history strengthen and rebuild their credit rating, even if you may have been refused credit in the past.
The Capital One classic credit card offers a great way to help improve your credit score, by allowing you the chance to get the credit you need to rebuild your credit rating.
If you have a poor credit history and want to improve your credit rating, the best thing you can do is to get on top of managing your finances and start rebuilding or strengthening your credit rating by using your credit wisely and always making sure you make at least the minimum payment each month, though it is advised to repay more than this if you can.
Free credit reports
In association with Equifax, Capital One offer cardholders free access to notifications about any changes to your credit file to help alert you to fraud, and even offer free access to your Equifax credit report twice a year - offering you a great chance to see your credit improving.
Sensible credit limit
The Capital One classic credit card offers a credit limit between £100 and £2,500, and if you stay within your credit limit and make your payments on time, Capital One will increase your initial credit limit after 4 months. With an instant decision on your application, you won't even have to wait around for notification by e-mail, phone or snail mail!
The Capital One classic credit card offers the same worldwide recognition as any other Visa credit card. Plus, there is no annual fee to pay and you can even manage your account online.
| Interest Rates and Fees |
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|
Notes.. |
| Typical APR |
34.9% APR (variable) |
The typical APR is the rate most people are offered.
|
| Balance Transfers |
34.94% p.a. |
- |
| Balance Transfer Fee |
3% |
- |
| Cash Withdrawal Rate |
34.94% p.a. (variable) |
This is the rate you are charged on balances resulting from using a cash machine, getting cash back at the supermarket or buying foreign money. |
| Cash Withdrawal Fee |
3%
(£3 minimum) |
When you use your credit card to get cash you will be charged a 'handling fee' for doing so. |
| Annual Fee |
None |
-
|
| Foreign Transaction Fee |
2.75% |
This is fee you will be charged for credit card transactions made abroad.
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| Cardholder Services & Extras |
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|
Notes.. |
| Online Account Management |
Yes |
You can manage your Capital One classic credit card account online. |
| Optional Extras |
Payment protection |
These are extras that you can choose, but you will have to pay for them. |
| Payments & Payment Details |
| |
|
Notes.. |
| Credit Limit |
£100 minimum, £2500 maximum |
Credit limit may vary from person to person and is subject to status. |
| Interest Free Period |
Up to 56 days |
For purchases if you pay your balance in full and on time each month. There is no interest free period on cash withdrawals or balance transfers. |
| Minimum Monthly Payment |
4%
(£5 minimum) |
The minimum monthly payment is the smallest amount you must pay each month (unless your credit card balance is zero). |
| Allocation of Payments |
Fees, interest, balance transfers, purchases and then cash withdrawals |
When you make a payment to this card they will be applied to charges / balances in this order. |
| Default Charges |
£12 |
This is how much you will be charged for late payments, returned payments, if you go over your credit limit and returned credit card cheques. |
| Card Details |
| |
|
Notes.. |
| Online Application |
Yes - Instant Decision |
In most cases you'll receive an instant decision when you apply online. |
| Card Type |
Classic |
-
|
| Payment Company |
Visa |
The company who provides the payment technology and infrastructure to allow you to use this credit card.
Retailers and ATM machines displaying the 'Visa' logo will accept this credit card. |
| Card Issuer |
Capital One |
The bank who issues this credit card. |
| Card Advertiser |
Capital One |
The company who advertises and promotes this credit card. |
Capital One Classic Credit Card User Reviews
What do you think? Add your review of the Capital One Classic credit card.
Thomas writes... 29/02/2008 "Brilliant Card to have. Credit Limit is low if you are unemployed or new to credit. But is worth having and your credit will be raised if you stay within your balance and payments are on time. This is the best card to have out of all the others processing time very quick. " Simon Peters writes... 15/08/2007 "I managed to get a Capital One Classic credit card and also started monitoring my credit report through Experian.
As a result my credit score improved from 590 (poor) to 765 (fair) over a period of 9 months."
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34.94% p.a.
34.94% p.a.
Online Account Management
