Capital One One Rate - is there a better overall deal than this?

simax

As above really,

Forgetting incentives like the £5 a month from Halifax if you spend £xxx a month, is there a better deal than the above?

9.9% APR for everything and no balance transfer fee and 56 days interest free?

Cheers

guesswho2000

Depends what you want to use it for? It's certainly not a very good card for using abroad, for instance! And it doesn't offer cashback/points, so not really very useful for people repaying in full each month. Not saying its a bad card though, just depends on what you want it for.

simax

Well, I applied for one yesterday as I do have a Creation MasterCard that I use for Cashback and clear in full, however at 24.9% I'd never carry a balance. I was thinking of a backup card that I could use to carry a balance *if I absolutely had to*. I'd use it for no other purpose. I have a Nationwide Select Visa for use abroad should I need it.

guesswho2000

Ah I see, it's definitely a good one for carrying a balance if you need to for whatever reason, though the Barclaycard Simplicity and Sainsbury's Low Rate cards offer a lower rate; Barclaycard is 7.9% for Purchase/BT (15.8% for cash) and Sainsbury's 6.9% for all.

9.9% is definitely a good basic rate for a credit card though!

[Deleted User]

The big question is how you will use the card.

If you won't be paying the balance in full each month, go for the lowest rate you can get - Sainsbury's or Barclaycard Simplicity (see http://www.moneysavingexpert.com/cards/best-0-credit-cards#stable)

If you WILL, then it's a cashback or rewards card for you - the APR becomes irrelevant. For spending under £300 a month, go for the Aqua. Above that, other options like Barclaycard Cashback, Virgin Charity, or Capital One Aspire for example.