It is feasible to take a loan from the bank with a minimum interest rate to resolve your financial needs. Ocean Card Reviewed critically to evaluate the worth as well as help the decisions. If you are new to use a credit card, first you have to be aware of what are the merits and demerits that can be faced while using. In that instance, this article will fully focus on Ocean Credit Card.
Ocean Finance is a privately owned company dealing with loans, credit card and mortgages business established in 1991 in Staffordshire, United Kingdom. It became infamous in the late 1990s and early 2000s for its advertising, including sponsoring its own channel on Sky TV and its advertising became widely parodied.
Ocean Finance was the shirt sponsor of Tamworth F.C. from 2004 and 2009. In 2008, it launched the UK’s first TV channel dedicated to promoting loans and mortgages.
The firm prospered on the back of rising house prices and the credit boom. By 2002 the firm was a leading player in the UK’s secured loan market valued at over £14bn. The firm was bought by US insurance company American International Group (AIG) in 2006 for over £200m. Then, Paul Newey stepped down as chief executive in 2009.
Like many other mortgage businesses, it struggled after the 2008 global credit crunch. The Ocean Finance brand was acquired by Think Money Group in 2012. In 2014 the company launched the Ocean Credit Card in conjunction with Capital One.
Therefore, you need to be smart and use such credit card smartly. Then know the % of APR (variable) and get the report of eligible credit through quick check response in a few seconds.
Ocean Credit Card has a low credit limit of between £200 and £1500, which is enough to start your credit building journey.
The limit you get from the bank is based on your current circumstances and this can be reviewed each year, depending on how you are paying for the card each month.
The card comes with plenty of benefits and features which are extremely attractive for the card user, and you shall also be able to enjoy up to 56 days of interest-free purchases when you ensure that you make upfront or on-time payments on the card.
The Ocean credit card is issued by Ocean Finance a broker but Capital One is the exclusive lender. This product is meant to give online suppose to those
====> Who are new to the UK
====> Who are self-employed
====> Who has a poor credit history
====> Who are struggling to get accepted for a credit card
====> Who has a low income
Pros and Cons of Ocean Credit Card
As we know, there should be some merits and demerits of Ocean Credit card Apply. The joy of it is getting more benefits than the demerits. To explore the pros and cons of the Ocean card, you need to read up through this part of the article.
Pros of Ocean Card Apply
====> Before processing the application, Ocean Finance will examine all the details to know your eligibility and card limit so that you can get the maximum facility.
====> It is completely safe to apply for Ocean Credit Card.
====> Facilitates you with step by step instruction so that you can get to know the benefits of using this card and get more rewards.
====> Ocean Finance secures your data from interlopers.
====> Ocean Finance gives a better chance to improve or reconstruct your credit score if you have a poor credit score.
Cons of Ocean Card
====> If you don’t pay your monthly payments on time or leave any step you may stick at some point.
How Does Ocean Credit Card Work?
This credit card perfectly, but before you can do anything on the portal, you need to have an active account. Once you do that, you should be able to navigate through the website. Ocean Card work through the steps below.
====> You need to login to your Ocean online portal to manage your account.
====> It gives one straightforward interest fee to all types of exchanges you did.
====> It simply oversees limits between £ 200 and £ 1,500.
====> You can add up to 3 other cardholders and can also keep track of your card expenses
====> You have a possibility to review your credit limit two times per year.
Representative APR (variable) is about 34.9%
You will not enjoy any reward scheme, therefore it has NO Reward scheme
Purchase interest p.a is 34.9, it is high as well
Cash withdrawal APR is 34.9 as well
Ocean Finance annual card fee is £0, you don’t need to worry too much about Ocean Credit Card annual fee.
Ocean Finance Credit Card Fees
When applying for this credit card, it is important to be aware of the fees and interest charged. Below is a list of fees that come with the Ocean Finance Credit Card.
====> Annual fee: £0
====> Dormancy fee: Charged at £0
====> Additional card fee: Charged at £0
====> Duplicate statement fee: Charged at £0
====> Purchase APR: Charged at 39.94%
====> Balance Transfer: Charged at 39.94%
====> Balance transfer fees: Charged at 3%
====> Foreign usage charges: 2.5%
====> Late payment fee: Charged at £12
====> Cash advance fee: Charged at either 3% or £3 whichever one is higher.
====> Minimum monthly payments: Charged at either 3% or £5 whichever one is higher.
Ocean Finance Credit Card Eligibility or Requirement
Before applying for Ocean Card, ensure that you meet the following requirement or eligibility criteria.
====> Applicant must be a UK citizen.
====> Applicant must have a UK address
====> Applicant must be at least 18 years of age
====> Applicant must wait for an invitation to open an account first
Ocean Credit Card Application Process
In to apply for Ocean Finance Credit Card, the applicant must have met the application requirement mentioned above. Then, you to download the official app and complete the application form through the app. Applicants are expected to fill in the following details for approval.
====> Personal Information: You are expected to provide your personal details in the space provided, these include: Your name, address, date of birth, and email address.
====> Provide Means of Identification: You are expected to provide means of identification such as a driver’s license or a valid government ID.
====> Employment Information: In additional to what you have provided, you need to provide your employment details, which include your role, your employer’s information, and salary details.
====> Financial information: This shall include your assets, and investments including debts, expenses, and other liabilities.
====> Kindly Log on to the Ocean Finance Website to start the process of applying for the credit card.
That is that on the application process, now we need to run through the login process. Once you login into your online account, you will be able to perform some task on your account.
Ocean Finance Credit Card Login Guide
This part of the article will be guiding you through the login process. The process is very simple and easy to go about.
Step 1 ====> You need to visit the official website or click on the link above
Step 2 ====> On the page, at the top right corner of the screen, locate and click on the login button or link
Step 3 ====> Once you click on it, you will be redirected to another page. This is the Capital One linked page to access your online account.
Step 4 ====> Now enter your login details (username and password) in the space provided
Step 5 ====> Finally here, click on the login button to access your online account on Ocean Finance Credit Card.
How to Recover Login Details
Your login details are essential materials to access your online account. Once you forget them you will find it hard to access your online account.
You don’t need to worry too much, this part of the article will guide you through the guide to recover and reset Ocean Credit Card login details.
Step 1 ====> You need to visit the login page as explained above
Step 2 ====> On the page, just below the login button or link is the links to reset your login details.
Step 3 ====> Depending on what you want to reset
Step 4 ====> If it is your password, click on the password link and follow the on-screen step to reset your password
Step 5 ====> If you want your username, click on the link, follow the on-screen guide to recover your username.
Activate Ocean CreditCard
You need to activate your credit card before you can use it. Ocean Finance credit card is just an ordinary plastic without activation, therefore you must activate Ocean Card before using it.
This credit card can be activated through various means, you can activate it through the online portal, phone call and Banking App.
How to Activate Ocean Credit Card Online
This is one of the common methods to activate this credit card. This method is fast and active, here are the step to follow to explore this method.
Step 1 ====> You need to visit the online activation portal
Step 2 ====> Now, enter the card 16-digit number, expiry date and date of birth in the space provided
Step 3 ====> Then, click on the continue button to process to the next page
Step 4 ====> You now need to follow the on-screen instruction to complete the process to activate Ocean Card
Once you follow the steps highlighted above, you will be able to activate your Ocean Finance Card.
How to Activate Ocean Finance Card via Phone
Another method to active this credit card is through phone call. This process is also simple and easy, you need to call Capital One on 0800 952 5315 to activate your card. You are to call this number between the hours of 7:30 AM and 9:00 PM on Mondays through Fridays, and between the hours of 8:30 AM to 5:30 PM on Saturdays.
Activate Ocean Card Via Ocean Bank App
You can also activate your credit card through the official bank app called Ocean Mobile Banking app.
Ocean Finance Address and Contact Information
To apply for the Ocean Finance Credit Card, you will be required to contact the company directly, using the following information.
Mosley Road, Trafford Park,
Manchester, M17 IFQ,
Telephone: 0344 481 2812 – in UK, and +44 1159 938 002 – Outside of UK.
Frequently Asked Question and possible Answers
This part of the article will duel more on Ocean Finance Credit Card frequently asked questions. You will be able to explore these as you keep reading.
Will I Receive a Limit Increase with My Ocean Credit?
After several months of responsible borrowing, you might find that you could be offered a higher limit. You could be eligible for up to 2 limit increases a year.
This is because you have proved that you can handle your current limit and may be likely to manage a larger one without any problems.
To show that you are a responsible borrower and receive a potential limit increase, you should:
====> Make all your repayments on time every month and, if you can in full
====> Never spend beyond your current credit limit
Is Ocean Card is the same as Capital One card?
The Ocean Credit Card is not the same as Capital One Card, but it is issued by Capital One (Europe) plc and has an interest rate of 39.9% APR representative variable with no annual fee.
There is an initial credit limit of £200 to £1500 and the amount offered varies by customer depending on their credit history and financial situation. Ocean Finance is a trading name of Intelligent Lending Limited.
How do I Increase My Ocean Credit Card Limit?
If you are eligible for a limit increase, you will be contacted by email or letter. Your limit will automatically increase if you have enabled the automatic limit increase function. If you have not done this, you will need to say you are happy with the increase before it changes.
What Credit Limit can I Expect when I open My Account?
With the Ocean credit card, you can expect a minimum credit limit of £200 and a maximum limit of £1500 as mentioned above in the article.
The limit you receive will be based on a number of things, like your credit history, how much disposable income you have and the amount of debt you are already currently managing.
Can I Withdraw Cash from My Ocean Card?
Yes, absolutely yes. If you are thinking of using your credit card to take out cash, it is possible to use your credit card to make a withdrawal from an ATM machine.
Money transfer credit cards sometimes referred to as cash advance cards. It allows you to freely move money from the card to your current account.
Does Ocean Finance Credit Card have an App?
Yes, Ocean credit card has Mobile App called Ocean Mobile App. Through the mobile app, you can easily manage your account with your mobile phone anytime, anywhere.
The app is available to customers with Digital Banking and the UK or international mobile number in specific countries.
How do I Cancel My Ocean Credit Card?
You can often cancel your credit card online. The option to do this will usually be found under your account options.
If you have paid off your balance in full, you can select to cancel your account online and will then be asked to confirm your decision.
Can you Cancel a Credit Card Application?
Applied for a credit card but started to have second thoughts? No worries, you will usually have a 14-day cooling–off period after you apply, where you can cancel your application.
If you choose to cancel your credit card within this cooling-off period, you will not be penalized. You could send an email to the provider explaining that you no longer want the credit card and they should cancel the card for you.