Compare Capital One credit cards

Getting into a muddle with your money is an easy thing to do and could result in a less than gold star credit rating – which in turn can make it hard to get credit. Or ironically, perhaps you’ve never borrowed money before in which case (through no fault of your own) you may also struggle with getting credit. So if you’re nodding your head in agreement, and you’re struggling to get a credit card, then what can you do about it?

Share

Credit building credit cards

Using one of the many credit building credit cards available on the market, like the Capital One Classic or Platinum card could help to get your credit back on track (or on it in the first place). These types of cards are designed to be easier to manage and can help build up your credit rating.

The Capital One Classic and Platinum cards start with relatively low credit limits – £200 up to £1,500. So whilst you won’t be able to buy that yacht you’ve got your eye on, you will be able to steadily build up your credit rating and credit limit so long as you keep up to date with your repayments. The only difference between the Classic and Platinum cards is the interest you’re charged (34.9% APR for the Classic and 29.8% APR for the Platinum – both are variable rates).

Even if you have a CCJ (county court judgement) against you or have defaulted on repayments in the past, then you could still be eligible for one of these cards. However, if you have been declared bankrupt in the last 12 months or applied for one of their other cards within the last six months then you’re unlikely to be accepted. 

Card features

Credit limits on these cards are reviewed twice a year so although they start off low, if you’re using your card sensibly then your limit could be increased – subject to eligibility (of course). Another good feature is that you can sign up to get email alerts so that you always stay in control of your spending.

You’ll be given a minimum payment to meet each month and you’ll need to make sure you pay it on time – if you don’t you’ll be slapped with a late payment fee (which could be very high). Like with any credit card it’s best to pay off the balance in full each month if you can.

Credit builder cards are primarily for building up credit rather than for borrowing money so use it wisely and your low credit score could only improve – so why not take back control and start comparing  credit cards for credit building today?

All Capital One credit card details are based on information provided to comparethemarket.com on 27 October 2016.

Looking for a Quote?

Compare credit cards in seconds and start saving

get a quote