In this article, we review the Ocean credit card from Ocean Finance, which is best known for its loan products. This card is aimed at those with poor credit scores.
Key facts about the Ocean credit card
Best for: Those with little credit history or those with previous defaults or CCJs.
Introductory offer: No introductory offers.
Representative APR: 39.9% variable.
Fees: No annual fee.
Perks: No specific perks.
Pros of the Ocean credit card
- Capacity to use the card to improve your credit rating over time.
- 56 days interest free credit on purchases if you pay off the balance in full on time each month.
- Credit limit can be reviewed twice a year.
Cons of the Ocean credit card
- The APR is quite high, which is something to bear in mind if you aren't in a position to pay off the balance each month.
- The initial credit limit can be as low as £200, although it could be as high as £1500, subject to status.
- There is a 2.75% fee when you use your card abroad.
How to manage your payments on the Ocean credit card
The account can be managed online. You can also set up text reminders for payments.
How to apply for the Ocean credit card
Use Ocean Finance's QuickCheck eligibility checker to see if you are likely to be accepted. This will not appear on your credit file.