Capital One moves further into mainstream credit card market

Capital One pushes further into the mainstream credit card market with the release of its Click Card and Transfer Card.

The move signals its intent to build up a base of customers with good credit history. Michael Ossei, lending expert at uSwitch.com, comments: "This is a bold move by Capital One, signalling a concrete shift in its focus from the impaired credit market to the competitive ‘good credit' marketplace.

"The impaired credit market is undergoing a period of change as lower quality credit candidates turn to the managed banking and prepaid products launched by debt management companies. Clearly Capital One has seen the writing on the wall and is seeking to tap into the mainstream market in response.

"The Capital One Click Card (9.9% APR) is a reward card designed for shopping. With discounts at Next.co.uk and Zavvi.com, not only should it prove popular with consumers who like to grab a bargain, but it'll be top of the tables when compared to the other reward cards available currently. Likewise, Capital One Transfer card offers 0% interest on your balance transfer fee for 16 months, leading to a competitive 2.9% rate, putting it in a strong position against all the big players.

"This is not the first move by Capital One to introduce more mainstream products, but this looks like an exciting offering which will increase the range of choice available to credit card customers."

For more information, visit uSwitch.com.