Capital One | Balance Plus credit card

APR: 24.9% Representative
Intro purchase rate: 0% for 3 months
Purchase rate: 24.93%
OPTIOSCORE 38.4/100 
Capital One | Balance Plus credit card customer reviews

2.6 out of 5 from 60 customer reviews

Representative Example: The standard interest rate on purchases is 19.94% p.a. (variable), so when borrowing £1,200 the Representative APR will be 19.9% (variable).

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Capital One | Balance Plus credit card customer reviews

2.6 out of 5 from 60 reviews

advantage

12:09 20-06-2017

via Smart Money People

Great to have emergency funds when you need them

Anthony Walsh

Our review of Capital One | Balance Plus credit card

Our review by Alex
Written by: Alex
Simplicity
11.5
Features
54
Consumer sentiment
50

Total OPTIOSCORE
38.4/100

If you’re thinking of applying for a Capital One Balance Plus credit card then you will need a good credit history. If you’ve not had credit before, or there are some blemishes on your record then might need to look elsewhere as it is likely that you’ll be declined for this particular card. It will also help your application if you can meet certain criteria such as being a homeowner or having an income of more than £20,000 per year.

There are no annual fees for the Capital One Balance Plus credit card, nor is there a fee for balance transfers. You just need to be mindful that if you are late with a payment or go over your designated limit then you will have to pay a charge of £12 a time.

The Capital One Balance Plus credit card has average scores across the board, but there are no reviews online specifically for this card. Capital One as a company have received an ‘average’ rating on TrustPilot with quite mixed reviews. Some customers feel that the cards are quite basic and don’t offer the same level of additional benefits as those from other providers. There is also feeling of hastiness with increasing credit limits. However, on the whole other reviewers have praised their customer service.

Overall verdict: As can be expected, Capital One as a company have customers who are really happy with their experiences and others that aren’t. Compared to other cards there aren’t as many additional benefits and although the representative APR is competitive, it’s still not the cheapest out there – if you have good credit it might be worth shopping around.

Highlights

  • Competitive representative APR
  • Online account management portal
  • Limit up to £12,000 available
  • Balance transfers at a constant rate of 6.94%

Minimum criteria

  • You need to be aged 21 or over
  • You should be a homeowner
  • You need to have an income greater than £20,000 per year
  • No past missed payments, no CCJs and no defaults
  • You must have had credit in the past

About Capital One | Balance Plus credit card

The Capital One Balance Plus credit card has a limit between £2,000 and £12,000 depending on personal circumstance and is advertised at a 19.9% representative APR. You can make a balance transfer at any time with no fee. This card is aimed towards customers with an excellent credit rating and you will be more likely to be accepted if you have had credit cards in the past and made monthly repayments in full and one time..

To apply for a Capital One Balance Plus credit card you will need to complete the application online and you can receive the decision within minutes. If you do want to transfer balances from other credit or store cards, then you’ll need to have the details with you in order to keep the process moving along. If you are approved then your card will take between 7 and 10 days to reach you, although the PIN will arrive first.