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

Your personalised chance of approval

We've used the details you gave us to show you how likely you are to be accepted for each card.

Why is this important?

Every time you apply for a credit card, your credit score takes a small hit, so it's better to make an application that has a high chance of success. Your scores help you understand which cards you have the strongest chance of getting.

It's easy!

The higher the score, the stronger chance you have of getting the card. If you see a very low score, it's unlikely you'll get the card, so it could be worth looking at others.

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Our Smart Search uses the same criteria lenders do. If you have cards with high scores, you can be fairly confident in applying however the lender decides whether to say "yes" or "no".

If you see a guaranteed score, the lender won't do a further credit check, but will do additional fraud checks to verify your identity. Assuming everything you told us is correct, your application will be successful.

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If you're rated "not eligible" for a particular card, this could be for one of several reasons. You may already have a card with that provider, and some lenders don't like giving a second one to the same person. Or, occasionally lenders will restrict cards to their current account holders only, meaning you'll be scored not eligible if you don't have one.

If you're rated as "not eligible" for a lot of the cards, then it's likely that your credit score's too low to qualify - perhaps you've missed payments in the past, or you've a CCJ or bankruptcy on your report? If not, but you have a lot of debt already, it could be that lenders are concerned about the levels of debt you already have.

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In some cases, we will not be able to display a score for a product because we do not have enough information about the card issuer's acceptance criteria or we have not been able to match your details at the credit bureau to be able to do the smart search check.

Ocean Finance

Balance transfer

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Purchases

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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 39.9%.

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.