Capital One Classic Visa

Capital One Classic Visa

  The Capital One Classic is especially aimed at people with bad credit ratings, or no credit history at all, who've been turned down by other card companies.

  The interest rate is very high, but so is the approval rate - Capital One will not guarantee you'll be accepted, but they approve a high proportion of applications they receive.

  Credit limits of between 200 and 2,500 are available, and if your credit rating is poor it's likely you'll be offered a limit at the lower end of the scale. Limits can be increased over time as you prove you'll keep up repayments.

  There isn't a great deal more to say about this card, there's no balance transfer offer, rewards, cashback, or anything else really - it's a just a simple, no-frills credit card that can act as a foot on the credit ladder to those who are prepared to pay the high interest rate if they don't clear their balances every month.

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Capital One Classic Card Summary

Standard Rate:34.9% Representative APR (variable)
Balance Transfer Deal?No balance transfer offer
Purchases Deal?No offer on purchases
Introductory Cashback
Standard Cashback-
Rewards Program-
Annual Fee:-
Interest Free Period:Up to 56 days for your purchases, none for cash withdrawals or balance transfers
Minimum Repayment:5% of balance or £5, whichever is greater
Minimum Credit Limit:£200
Maximum Credit Limit:£1,500
Notes:A high interest, high approval card that can help you rebuild your credit rating - even with CCJs
Representative Example:Assumed borrowing of £1200, representative 34.9% APR (variable). Purchase rate 34.9% PA.

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