Ocean Finance credit cards

Ocean Finance: a credit card guide

Owned by Think Money Group, Ocean Finance offer a credit card in conjunction with Capital One. It’s a good option for people who want to repair their credit report.

Who are Ocean Finance?

Ocean Finance was set up in Staffordshire in 1991 as a loans and mortgage company, and was bought by AIG in 2006. It was the shirt sponsor of Tamworth FC for five years, and also launched its own TV channel in 2008, the first in the UK specifically dedicated to advertising and promoting loans and mortgages.

The company was acquired by Think Money Group in 2012, and two years later it released its first and only credit card in conjunction with Capital One – specifically designed for people who wanted to repair their credit report.

Compare Ocean Finance credit cards - Sorted by APR

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Your personalised chance of approval

Chance of approval 10/10 GUARANTEED
Chance of approval {{sliderProduct.productScoring.productLikelihood}}/10
Chance of approval Not rated
Chance of approval Not eligible
Being pre-approved means you’re an ideal customer for this lender and you’re guaranteed to get this card, provided you use the same details as you gave us, and you pass the lender’s ID checks.
We can’t give you a rating for this card either because we can’t match your details to your credit report, or we don’t have enough information about the lender’s acceptance criteria for this card.
You won’t get this card. This is usually because you don’t meet the lender’s acceptance criteria – for example, your income may not be high enough, you have credit problems, or you already have one of this lender’s cards.
This means there’s a good chance you’ll be accepted for this card. For every 100 applications from people in a similar financial situation to you, between 70 and 95 of them will get the card.
This score means it’s around fifty-fifty whether you’ll be accepted for the card or not. It’s worth a go if this is your highest score, and you need the credit for a specific purpose.
It’s unlikely you’ll get this card. For every 100 people in a similar financial situation to you who apply, only between 10 and 30 get accepted for the card. There’s still a chance, but rejection’s more likely than acceptance.

See the full approval scale

Why is this important?

Every time you apply for a credit card, a mark is left on your credit score. That means it's better to get it right the first time. Your scores help you understand which cards you have the strongest chance of getting. The higher the score, the stronger chance you have of getting the card. If you see a very low score, you're probably better off choosing a different card.

Chance of approval scale

10/10 = Pre-approved

Chance of approval 10/10 GUARANTEED
10/10 GUARANTEED

10/10 = Pre-approved

Being pre-approved means you’re an ideal customer for this lender and you’re guaranteed to get this card, provided you use the same details as you gave us, and you pass the lender’s ID checks.

9.5/10 - 7/10 = Good chance

Chance of approval 9.5/10
9.5/10
Chance of approval 9/10
9/10
Chance of approval 8/10
8/10
Chance of approval 7/10
7/10

9.5/10 - 7/10 = Good chance

This means there’s a good chance you’ll be accepted for this card. For every 100 applications from people in a similar financial situation to you, between 70 and 95 of them will get the card.

6/10 - 4/10 = Fair chance

Chance of approval 6/10
6/10
Chance of approval 5/10
5/10
Chance of approval 4/10
4/10

6/10 - 4/10 = Fair chance

This score means it’s around fifty-fifty whether you’ll be accepted for the card or not. It’s worth a go if this is your highest score, and you need the credit for a specific purpose.

3/10 - 1/10 = Low chance

Chance of approval 3/10
3/10
Chance of approval 2/10
2/10
Chance of approval 1/10
1/10

3/10 - 1/10 = Low chance

It’s unlikely you’ll get this card. For every 100 people in a similar financial situation to you who apply, only between 10 and 30 get accepted for the card. There’s still a chance, but rejection’s more likely than acceptance.

Not eligible = Consider a different card

Chance of approval Not eligible
Not eligible

Not eligible = Consider a different card

You won’t get this card. This is usually because you don’t meet the lender’s acceptance criteria – for example, your income may not be high enough, you have credit problems, or you already have one of this lender’s cards.

Not rated = We don’t have enough infoinformation

Chance of approval Not rated
Not rated

Not rated = We don’t have enough infoinformation

We can’t give you a rating for this card either because we can’t match your details to your credit report, or we don’t have enough information about the lender’s acceptance criteria for this card.

Ocean Finance

Ocean Finance

Balance transfer

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Purchases

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Rewards

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Balance transfer

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Purchases

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Rewards

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EXPLORE MORE CREDIT CARDS

What credit cards do Ocean Finance offer?

Ocean Finance (with Capital One) offers the Ocean Credit Card as its only credit card product. It has a rate of 39.94% on purchases and balance transfers, while balance transfers also have a 3% fee. The representative APR is 34.94%.

The credit limit offered on the Ocean Credit Card generally sits between £200 and £1,500, however the specific limit you’ll get will depend on your credit history and your current situation. Your credit limit may occasionally change, but you’ll be given notice beforehand.

Ocean Finance doesn’t advertise any rewards on its credit card.

Am I eligible for an Ocean Finance credit card?

Before applying for an Ocean Finance credit card, you can give some information about yourself and your financial situation and they will run a soft credit check – known as QuickCheck. Unlike a hard credit check, this means your credit score will only be seen by you – therefore it won’t show up as a search on your credit history, and won’t affect your credit score.

However if you continue with the application then they will run a hard check, which will show up on your credit history.

You’ll be more likely to be accepted for an Ocean Credit Card if you:

  • Are over 18
  • Have a credit history
  • Register on the electoral roll

However there are other factors involved in the decision – you can also see how likely you are to be accepted with MoneySuperMarket’s eligibility checker.

How can I apply for an Ocean Finance credit card?

You can apply through the Ocean Finance website. If you’re accepted it normally takes between 7 and 10 days for your card to arrive, and for security reasons it will arrive after your PIN does. In order to apply you have to go through the QuickCheck process, and if you’re pre-approved you’ll be able to submit your application.

How can I manage my Ocean Finance credit card?

You can manage your Ocean Credit Card through your Capital One account, which is accessible online or through the app. You’ll be able to view your statements and transactions, current balance, and how much you have available to spend. You’ll also be able to securely and directly contact Capital One.

Compare credit cards

If you want to find a better deal on credit cards, comparing deals on MoneySuperMarket is the perfect place to start. You’ll be able to see rewards on offer, their representative APRs, and any offers they may have on balance transfers or purchases – this will help you be fully informed about the product you’re buying, so you can be confident in your choice of credit card.

 

Moneysupermarket is a credit broker – this means we’ll show you products offered by lenders. We never take a fee from customers for this broking service. Instead we are usually paid a fee by the lenders – though the size of that payment doesn’t affect how we show products to customers.