Capital One launches low rate credit card

Capital One has launched a new 'Low Rate Credit Card' offering a competitive 8.5% APR typical variable on balance transfers and purchases.

Cardholders will have no balance transfer fee to pay.

Cardholders will also benefit from Capital One's unique Identity Theft Assistance, which includes a free Identity Alert service that will alert them by email if someone applies for credit in their name, two free credit reports per year and a free named advisor to provide help at every stage of the recovery and resolution process should they become a victim of identity theft.

Srini Gopalan, head of Capital One in the UK, said: "The combination of our low 8.5% APR rate, no balance transfer fee and identity protection service makes this an attractive offer for consumers at a time when we are conscious the purchasing environment remains a difficult one. We have always stated our intention to be as flexible and innovative with our products as possible. This is another example of having taken action around our product range, ensuring we've introduced a card that further refines our portfolio to ensure we are providing a range of competitive products to address different customer needs."

In summary, the features of the Capital One Low Rate Credit Card are:

8.5% APR typical variable on balance transfers and purchases
No balance transfer fee
Free Identity Theft Assistance including email alert service, credit reports and a named advisor to assist should the cardholder suffer identity theft
Aimed at consumers who have an 'excellent' credit rating