In this review we assess the Capital One Classic credit card, which is aimed at people with limited credit history or poor credit scores.
Key facts about the Capital One Classic credit card
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Best for: Those looking for a no-frills, credit-building card
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Introductory offer: No introductory offers
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Representative APR: 34.94% variable
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Fees: No annual fee
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Perks: No specific perks
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- Find out what credit cards you are eligible for
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- 26.5% APR Representative (variable)
Pros of the Capital One Classic credit card
- 56 days interest free on purchases if you pay the balance off in full on time each month.
- Possibility of two increases in the credit limit within the first year of having the account.
- You can set up email alerts to remind you when a repayment is due to help you stay on top of your monthly deadlines.
Cons of the Capital One Classic credit card
- It has none of the perks or introductory offers that you can find with other cards.
- Relatively high APR and low initial credit limit – potentially starting at just £200 – although it could be as high as £1500, subject to status.
- Unlikely to be accepted if you have not had any credit in the UK before.
How to manage your payments on the Capital One Classic credit card
Cardholders can manage their accounts through Capital One's online banking system.
How to apply for the Capital One Classic credit card
Use the eligibility checker to see if you are likely to be accepted and what credit limit you can get, without it affecting your credit report.
How to find out which credit card is best for you
Money to the Masses uses Creditec*, an online comparison service that enables you to find credit card deals tailored to you without affecting your credit score. You will want to compare as many different options as possible before you get a new credit card, so it is a good idea to do a fast online comparison. With only a few basic details, the Creditec tool will build a personalised list of credit cards suited to your needs to help you navigate the huge number of options out there. You can then pick the result that suits you best. None of this will affect your credit score as the eligibility process uses a soft credit check. Click here to start your comparison*.
Alternatives to the Capital One Classic credit card
If a link has an * beside it this means that it is an affiliated link. If you go via the link Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. But as you can clearly see this has in no way influenced this independent and balanced review of the product.
