Capital One FixedRate Credit Card Review
 Best Buy for lowest standard interest rate
Amazingly low standard rate of just 8.5% APR
8.5% fixed until August 2012
No fee for balance transfers
Best Buy alert! The Capital One FixedRate credit card is currently the best buy credit card for the lowest standard interest rate - check it here.
THE Capital One FixedRate credit card offers a fantastically low APR of just 8.5% making it one of the most competitive credit cards on the market for a low interest rate.
Additionally, Capital One are fixing this low rate until your statement in August 2012 - so even if the base rate goes up or the credit crunch worsens - you can rest assured your credit card interest rate will remain this low at least until 2012.
The Capital One FixedRate credit card is specifically designed for anyone who wants a fantastically low interest rate deal for the long-term and without any worry of ending promotional periods.
On top of this amazingly low interest rate, which applies to purchases and balance transfers, is no balance transfer fee (if you wanted to move over the balance on your current credit card), and also a wealth of fraud protection services.
Capital One take fraud prevention very seriously, and offer as standard on all their credit cards a guarantee that you won't be held liable for any fraudulent transactions made with your card over the Internet, active fraud protection - which means Capital One will keep a watchful eye over your account and notify you of anything suspicious, an Identity Theft Service and even free access to your Equifax Credit Report twice a year and on-going notifications from Equifax too.
For a great hassle-free and cheap credit card the Capital One FixedRate credit card is an ideal option.
| Interest Rates and Fees |
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Notes.. |
| Typical APR |
8.5% APR (variable) |
Fixed until your August 2012 statement. |
| Balance Transfers |
8.5% until 1 August 2012 |
Fixed until your August 2012 statement. |
| Balance Transfer Fee |
None |
There is no balance transfer handling fee. |
| Cash Withdrawal Rate |
25.94% 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 |
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| 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 FixedRate credit card account online. |
| Internet Fraud Guarantee |
Yes |
You will be protected against Internet fraud when you shop online with the Capital One FixedRate credit card. |
| Identity Theft Service |
Yes |
Help and guidance on how to prevent identity theft, as well as you own named advisor to help with your case from start to finish if you ever experience identity theft. |
| Optional Extras |
Payment protection |
These are extras that you can choose, but you will have to pay for them. |
| Payments & Payment Details |
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|
Notes.. |
| Credit Limit |
£500 minimum, £16000 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 |
3%
(£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 |
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Notes.. |
| Online Application |
Yes |
You can apply online for the Capital One Platinum credit card. |
| Card Type |
Platinum |
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| Payment Company |
MasterCard |
The company who provides the payment technology and infrastructure to allow you to use this credit card.
Retailers and ATM machines displaying the 'MasterCard' 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 FixedRate Credit Card User Reviews
What do you think? Add your review of the Capital One FixedRate credit card.
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At a Glance
Capital One FixedRate credit card
| Typical APR: |
8.5% APR |
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| Purchases: |
 8.54% p.a. |
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| Balance Transfers: |
 8.5% until 1 August 2012 |
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Free transfers |
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| Interest Free Period: |
Up to 56 days |
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| Annual Fee: |
£0 |
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| This card includes: |
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 Online Account Management |
| Fraud Security |
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| You should only apply if you are: |
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| • Aged 21 or over |
| • UK resident |
| • Earn more than £10,000 per annum |
Review Continued...
The Capital One FixedRate credit card offers an amazingly low interest rate of just 8.5% APR on purchases and balance transfers. And, what's more, Capital One are fixing this rate until August 2012 - so there's no immediate worry of having your rates hiked up just when you settle into being an 'existing' customer.
Low Interest Rate
The Capital One FixedRate credit card really is as 'cheap as chips', with a typical APR of just 8.5% this credit card rivals most on the market for the lowest standard interest rate.
A low standard interest rate is a great option for people who just want a good deal on their credit card - not a good deal for 6 months, or a good deal for the next year - but just a plain and simple good deal.
Low interest rate credit cards, like the Capital One FixedRate credit card are best suited to people who tend to keep their credit card balance cleared - but have months where a balance is rolled over and interest is charged.
For really spreading the cost of a large purchase a 0% purchase credit card would offer the cheapest deal - and periods are now lasting for up to 15 months.
But a standard low interest rate credit card is ideal for day-to-day items where you might not always clear the full balance - and to have an open option to better manage your cash flow from time to time without being charged an arm and a leg for the privilege.
Balance Transfers
The Capital One FixedRate credit card offers the same low interest rate for balance transfers as it does for purchases - just 8.5% APR.
There is also no balance transfer handling fee charged on any balances you move across to this card.
The fee-free nature of this low rate balance transfer utility means that you can move any existing credit card balances to the Capital One FixedRate credit card to get an interest rate of just 8.5% until the balance is repaid in full, and because the rate is the same for purchases you can also spend on this card without any worry of 'trapped' cheaper balances (see allocation of payments clause for more information).
However, if you have a large existing credit card balance and it's likely to take you more than a few months to repay it, it may be more beneficial to get a specific balance transfer credit card to save more money in interest charges.
The Capital One Low Rate Balance Transfer credit card offers a much lower rate of interest for the life of balance transfers. Similarly, if you need around a year to pay back a current balance a 0% balance transfer credit card would save you the most.
But for a small balance on your existing credit card which you intend to replace with the Capital One FixedRate credit card - you do have the option to move the balance over and get the same low rate on this card as you would for new purchases.
Security Features
As with all Capital One credit cards, the Capital One FixedRate credit card offers customers an identity theft service, including free identity theft alerts.
Once registered, twice yearly, you will receive a free credit report from Equifax.
Should any major changes occur to your account, Capital One will contact you, and if any fraudulent activity does take place, Capital One will help you to restore your identity with the minimum disruption to your life.
Capital One also provides a 100% fraud protection guarantee, meaning that if your details are used to purchase goods fraudulently, Capital One will refund you the amount as quickly as possible.
An active fraud protection service is also offered, which means Capital One will keep a watchful eye over your account and notify you of any transactions that feel look suspicious.
Capital One has recently joined up with MasterCard and Visa to enhance the security features of their credit cards. The 'MasterCard SecureCode' and 'Verified by Visa' features are aimed to reduce fraudulent transactions by requesting further proof of identity when buying online.
Final Word
The Capital One FixedRate credit card's APR of just 8.5% is a fantastic offer and ideal for those with an excellent credit history who want a simple credit card. Capital One has created a hassle-free, easy-to-manage credit card with a life-long low rate.
Capital One is one of the forerunners when it comes to enhanced cardholder protection, meaning that your life won't be turned upside down should you become a victim of identity theft.
Essentially, the Capital One FixedRate credit card is a simple credit card with a brilliantly low interest rate and fantastic security features.
Apply Online for Capital One FixedRate credit card 
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