Updated September 29, 2026 · DebitCue Editorial Team
Capital One UK vs Varo Believe Secured Credit Card
Capital One UK
Higher score in this comparison
Varo Believe Secured Credit Card
Where Capital One UK and Varo Believe Secured Credit Card differ
| Compare | Capital One UKReviewSee alternativesSee alternatives | Varo Believe Secured Credit CardReviewSee alternativesSee alternatives |
|---|---|---|
| Annual fee | £0 | $0 |
| APR | 34.9% | 0%Lower |
| Currency conversion fee | 2.75% | 0%Lower |
| Rewards type | None | Cashback |
| Perks | Free CreditWise credit score and report, Up to 56 days interest free on new spends, Section 75 protection on spends between GBP 100 and GBP 30,000, Up to 2 credit limit increases a year, Free QuickCheck eligibility check with no impact to credit score, Round the clock fraud security | Reports to all three credit bureaus, Free credit score tracking in the Varo app, No credit check to apply, No minimum security deposit; cardholder sets own spending limit, Cashback offers at select merchants with the card, Free out of network free Allpoint ATM access |
| Rewards rate | Not confirmed | Offer-based, varies by merchant offer; up to $750 per calendar month |
| Balance transfer intro period | 18 months | Not confirmed |
| Balance transfer fee | 3% | Not confirmed |
Same on both: Credit needed (Poor), Card kind (Credit).
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Key differences
- Founded is lower at Capital One UK: 1996 vs 2015.
- APR is lower at Varo Believe Secured Credit Card: 0% vs 34.9%.
- Currency conversion fee is lower at Varo Believe Secured Credit Card: 0% vs 2.75%.
- Perks: only Capital One UK offers Free CreditWise credit score and report, Up to 56 days interest free on new spends, Section 75 protection on spends between GBP 100 and GBP 30,000.
- Perks: only Varo Believe Secured Credit Card offers Reports to all three credit bureaus, Free credit score tracking in the Varo app, No credit check to apply.
Our verdict on each
Capital One UK
Capital One UK suits UK shoppers building a score or clearing a balance, offering a balance transfer intro of 18 and credit tools with no fee to hold. The representative APR of 34.9% makes it a card to clear rather than revolve.
Varo Believe Secured Credit Card
Varo Believe Secured Credit Card suits anyone with poor credit who wants a credit card and a bank account without annual or interest charges. Its annual fee is $0 and its APR is 0%, so nothing is owed for keeping it open, and the spending limit stays under the cardholder's control.
Score breakdown
| Area | Capital One UK | Varo Believe Secured Credit Card |
|---|---|---|
| Cost | 8.7Annual fee £0 and a 3% balance transfer fee keep costs low, against 34.9% interest and 2.75% abroad. | 9.6HigherAnnual fee $0, APR 0% and currency conversion fee 0% on a secured card aimed at poor credit. |
| Offer | 9.5Balance transfer intro of 18, free credit score tools, and no rewards (none). | 9.6Higher |
| Trust | 9.0Higher | 8.3 |
Positions in our rankings
| Ranking | Capital One UK | Varo Believe Secured Credit Card |
|---|---|---|
| Credit cards | 153 of 1020 | 172 of 1020 |
| Bad credit and credit builder cards | 10 of 23 | 14 of 23 |
Spending 1,000 abroad
Capital One UK
27.5
2.75% of 1,000
Varo Believe Secured Credit Card
0
0% of 1,000
Varo Believe Secured Credit Card comes out 27.5 lower in this example.
Worked out from the stated prices and rates; your own total depends on how you use it. Facts checked September 26, 2026.
What we checked
Capital One UK
- capitalone.co.uk: 14 facts, checked September 26, 2026
Varo Believe Secured Credit Card
- varomoney.com: 11 facts, checked September 26, 2026
- banks.data.fdic.gov: 2 facts, checked September 26, 2026
- support.varomoney.com: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | Capital One UK | Varo Believe Secured Credit Card |
|---|---|---|
| Pricing model | No annual fee | No annual fee |
| Features | Not confirmed | Rewards, Secured |
| Legal entity | Capital One (Europe) plc | Varo Bank, National Association |
| Headquarters | United Kingdom | United States |
| Founded | 1996Lower | 2015 |
| Support channels | Chat, Phone, Email, Help centre | Email, Chat, Phone, Help centre |
Debit cards
| Fact | Capital One UK | Varo Believe Secured Credit Card |
|---|---|---|
| Monthly fee | Not confirmed | $0 |
| Card type | Not confirmed | Debit |
| Card network | Not confirmed | Visa |
Where each stands against the rest
| Fact | Capital One UK | Varo Believe Secured Credit Card | Median |
|---|---|---|---|
| APR | 34.9%highest quarter | 0%lowest quarter | 19.39% |
| Currency conversion fee | 2.75%highest quarter | 0%below the median | 1% |
| Balance transfer intro period | 18 monthsabove the median | Not confirmed | 15 months |
| Balance transfer fee | 3%at the median | Not confirmed | 3% |
Median across 312 listed cards.
Pros and cons
Capital One UK
Pros
- Aimed at poor credit, so applicants turned down elsewhere can still apply.
- Support runs on chat, phone and email, so help is easy to reach by phone, chat, email or a help centre.
- Credit building tools come as standard: a free credit score and report, an eligibility check that leaves the credit score untouched, and round the clock fraud security.
Cons
- Representative APR of 34.9% sits above the site average of 20.97%, so an unpaid balance costs quickly.
- Foreign purchases are charged 2.75% in currency conversion, above the site average of 1%.
- The rewards type is listed as none, so nothing comes back on everyday spending.
Varo Believe Secured Credit Card
Pros
- The annual fee is $0 and the APR is 0%, so a card built for poor credit carries no holding or interest cost.
- There is no credit check to apply, and there is no minimum security deposit because the cardholder sets the spending limit.
- The card reports to all credit bureaus, with free credit score tracking in the Varo app.
Cons
- The cashback rate is offer-based and moves with the merchant offer, so the return cannot be planned as a flat rate.
- The 0% and $0 figures are for the secured credit card, while the debit card and the bank account carry their own terms.
Who each suits
Capital One UK
Who it suits
- UK applicants with poor credit who want a mainstream card rather than a secured one.
- Balances being cleared, where the 18 transfer window and 3% fee on the balance transfer card keep the move contained.
- Cardholders who pay in full and would rather build a score than chase rewards.
Who should look elsewhere
- Not for frequent foreign spend, where Wise charges 0% on currency conversion against 2.75% on this card.
- Not for anyone after a deposit backed card, since Varo Believe Secured Credit Card has an annual fee of $0 on a secured basis.
- Not for shoppers who want a rewards earn on everyday buying, as the rewards type here is none and Chime Card (Secured Visa Credit Card) offers the same credit building route.
Varo Believe Secured Credit Card
Who it suits
- Anyone with poor credit who wants a credit card without a deposit or a credit check.
- People who want free out-of-network Allpoint ATM access and a visa card from the same bank.
- Customers who want their card payments reported to all credit bureaus with score tracking in the app.
Who should look elsewhere
- Wise, for anyone who mainly wants an everyday card rather than a credit-building one; its annual fee is £0.
- Starling Personal Account Debit Card, for a plain debit card with an annual fee of £0 and no secured credit record to build.
- AXI Card Tarjeta y Credito, for readers who prefer a combined debit and credit card; its annual fee is €0.
Current offers
Capital One UK
Current offer
First period offer
0% interest on balance transfers for up to 18 months and on purchases for up to 3 months: 0% for up to 18 months on balance transfers; 0% for up to 3 months on purchases
Balance Transfer card; up to 3% transfer fee (maximum 3%); up to GBP 8,000 starting credit limit; representative example assumes a GBP 1,200 credit limit with 34.94% p.a. variable interest on purchases giving 34.9% APR representative variable
Source, checked September 26, 2026
Country by country
| Country | Capital One UK | Varo Believe Secured Credit Card |
|---|---|---|
| United Kingdom | Yes | No |
| United States | No | Yes |
Questions about each
Capital One UK
Is there an annual fee on the Capital One UK credit card?+
There is no annual fee. The card is sold on a no annual fee model, so the annual fee is £0 and the only real cost is interest. That interest is the part to watch, at a representative APR of 34.9%, because the card is aimed at poor credit and some applicants will revolve.
What rate applies if I do not clear the balance?+
The representative APR is 34.9%, above the site average of 20.97%. New purchases sit inside the interest free window the card offers, so the rate matters most once that window runs out or a transferred balance is still unpaid.
Varo Believe Secured Credit Card
What does the Varo Believe Secured Credit Card cost to hold?+
The secured credit card carries an annual fee of $0 and an APR of 0%, which means no interest on a balance that is repaid in full. The bank account in the same setup has a monthly fee of $0. No deposit is tied up either, since the cardholder sets the spending limit, so opening the account costs nothing in fees.
Is there a currency conversion fee on the Varo card?+
The currency conversion fee listed for the secured credit card is 0%, so a purchase in another currency does not add a conversion charge on the card. DebitCue places it at 1 of 181 brands on that measure, putting it in the cheapest group among the cards compared.
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Capital One UK
Varo Believe Secured Credit Card