Discover everything about the Ocean credit card

Understand if these credit cards are interested to you

If you’re in the market for a new credit card, the Ocean credit card is worth exploring. Designed to meet various financial needs, this card comes with a range of features and benefits that may align with your preferences. Let’s delve into the details to help you make an informed decision.

Ocean credit card features which you must know

Obtaining a credit card can be challenging if your credit score is less than stellar, and past instances of missed repayments or CCJs may further complicate matters. Specialist cards like the Ocean credit card are designed to accommodate individuals with such financial histories, albeit with more relaxed approval criteria.

Remember, it’s essential to be aware, however, that these cards often come with higher interest rates and more conservative credit limits.

The Ocean card offers a credit limit ranging from £200 to £8,000, contingent upon Ocean’s evaluation of your financial circumstances. This limit undergoes review twice a year.

By responsibly managing the card — staying within the credit limit and ensuring timely minimum monthly repayments — you can actively contribute to building or repairing a positive credit history.

While Ocean is more prominently associated with its loan products, individuals who are not existing Ocean customers and seek to centralize their finances might find the appeal of this straightforward yet potentially expensive card limited.

Notably, the card features a uniform interest rate for all transactions, a departure from the usual practice where credit cards often have varying rates for different balances, such as cash withdrawals. However, in line with cards tailored for those with less-than-ideal credit, the interest rate remains relatively high.

The silver lining is that by paying off your balance in full each month, you can leverage up to 56 interest-free days on your purchases. Despite the elevated interest rate, diligent management can result in the card not incurring any costs if you avoid carrying a balance.

Issued on the Mastercard network, Ocean’s credit card enjoys widespread acceptance at over 35 million merchants and ATMs globally.

Some important points

To make an informed decision about your next or first credit card, remember that it is essential to be aware of the fees and terms you will be agreeing to when closing a card with the financial institution. In this way, we have gathered some essential information below. Check it out.

• Annual/monthly fees: £0;
• Balance transfer: 39.94%;
• Balance transfer fee: 2.9%;
• Purchases: 39.94% (purchases interest-free period is up to 56 days);
• Minimum credit limit: £200;
• Maximum credit limit: £8,000;

Pros and cons about Ocean credit card

The Ocean Credit Card presents several advantages, particularly for individuals with poor credit ratings. It stands out for not charging fees for early repayment, offering a single interest rate for all transactions – a feature uncommon in many credit cards.

Additionally, cardholders benefit from free monthly text message reminders, promoting timely payments. Another notable advantage is the absence of an annual fee, providing cost savings for users.

However, there are certain drawbacks to consider. The credit limit on the Ocean Credit Card is relatively low, necessitating careful expenditure management within this constraint. While the card serves as a valuable option for those with poor credit, it comes with higher interest rates.

Users should be mindful of these rates and prioritize prompt balance payments to minimize interest charges. Additionally, the card imposes charges for exceeding the agreed credit limit or making late payments. Adhering to the agreed-upon terms is crucial to avoid incurring additional fees and maintaining a positive credit history.

Learn how to get an Ocean credit card

Understand the requirements

The first step is to familiarize yourself with the requirements set by Ocean. This includes factors such as age, income, and credit history. If the Ocean credit card is your perfect match, know that this company requires you must be 18 years or over.

Gather necessary documents

Ocean will likely request certain documents during the application process. These include proof of income, identification documents, and address verification. Ensure you have these documents ready to streamline the application process.

Visit the Ocean website

Head to the official Ocean website to explore their range of credit card offerings. Take the time to review the features and benefits of each card to find the one that best suits your financial needs.

Once you are ready, select the Ocean credit card that aligns with your requirements. Whether you prioritize rewards, low-interest rates, or other features, Ocean likely has a card tailored to your preferences.

Complete the online application

Once you’ve chosen the suitable Ocean credit card, proceed to the online application form. Provide accurate information, ensuring it aligns with the requirements and documents you’ve gathered.

After completing the application form, submit it through the designated online portal. Take note of any confirmation or reference numbers provided, as these can be useful for tracking the status of your application.

Remember, the approval process typically takes some time. While waiting, you can check the status of your application through the Ocean website or contact their customer support for updates.

Receive and activate your card

Once your application is approved, Ocean will send you the credit card by mail. Upon receiving it, follow the provided instructions to activate your card before using it for purchases.