Updated September 29, 2026 · DebitCue Editorial Team
Ocean Finance Card vs Varo Believe Secured Credit Card
Ocean Finance Card
Higher score in this comparison
Varo Believe Secured Credit Card
What sets them apart
| Compare | Ocean Finance CardReviewSee alternativesSee alternatives | Varo Believe Secured Credit CardReviewSee alternativesSee alternatives |
|---|---|---|
| Annual fee | £0 | $0 |
| APR | 39.9% | 0%Lower |
| Rewards type | None | Cashback |
| Perks | Credit limit of GBP 200 to GBP 8,000, Section 75 protection on purchases between GBP 100 and GBP 30,000, Mobile app to make payments and check balance, Free email and text alerts, Card usable online before the physical card arrives, Eligibility check does not affect credit score, No Apple Pay | 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 |
| Currency conversion fee | Not confirmed | 0% |
| Rewards rate | Not confirmed | Offer-based, varies by merchant offer; up to $750 per calendar month |
| Balance transfer intro period | 6 months | Not confirmed |
| Balance transfer fee | 2.9% | Not confirmed |
Same on both: Credit needed (Poor), Card kind (Credit).
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Key differences
- Ocean Finance Card scores higher overall: 9.2 vs 9.1.
- Founded is lower at Ocean Finance Card: 1991 vs 2015.
- APR is lower at Varo Believe Secured Credit Card: 0% vs 39.9%.
- Perks: only Ocean Finance Card offers Credit limit of GBP 200 to GBP 8,000, Section 75 protection on purchases between GBP 100 and GBP 30,000, Mobile app to make payments and check balance.
- 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
Ocean Finance Card
Ocean Finance Card suits applicants with poor credit who want a UK credit card with no annual fee, £0, and a balance transfer option. Borrowing is the expensive part, with 39.9% charged on revolving balances, so the card only pays off if you clear balances or keep them off the card.
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 | Ocean Finance Card | Varo Believe Secured Credit Card |
|---|---|---|
| Cost | 9.0There is no annual fee, £0, and a balance transfer fee of 2.9%, so cost sits in the interest on revolving balances. | 9.6HigherAnnual fee $0, APR 0% and currency conversion fee 0% on a secured card aimed at poor credit. |
| Offer | 9.3A transfer window of 6 with a 2.9% fee is the only offer, and rewards on spending are none. | 9.6Higher |
| Trust | 9.3Higher | 8.3 |
Where they rank in our lists
| Ranking | Ocean Finance Card | Varo Believe Secured Credit Card |
|---|---|---|
| Credit cards | 132 of 1020 | 172 of 1020 |
| Bad credit and credit builder cards | 8 of 23 | 14 of 23 |
Every fact side by side
| Fact | Ocean Finance Card | Varo Believe Secured Credit Card |
|---|---|---|
| Pricing model | No annual fee | No annual fee |
| Features | Not confirmed | Rewards, Secured |
| Legal entity | Intelligent Lending Limited | Varo Bank, National Association |
| Headquarters | United Kingdom | United States |
| Founded | 1991Lower | 2015 |
| Support channels | Chat, Phone, Email, Help centre | Email, Chat, Phone, Help centre |
Debit cards
| Fact | Ocean Finance Card | 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 | Ocean Finance Card | Varo Believe Secured Credit Card | Median |
|---|---|---|---|
| APR | 39.9%highest quarter | 0%lowest quarter | 19.39% |
| Currency conversion fee | Not confirmed | 0%below the median | 1% |
| Balance transfer intro period | 6 monthslowest quarter | Not confirmed | 15 months |
| Balance transfer fee | 2.9%below the median | Not confirmed | 3% |
Median across 312 listed cards.
Pros and cons
Ocean Finance Card
Pros
- The card is built for applicants with poor credit, and the eligibility check does not affect your credit score.
- Purchase protection covers spending inside a range set out in Credit limit of GBP 200 to GBP 8,000, Section 75 protection on purchases between GBP 100 and GBP 30,000 and Mobile app to make payments and check balance, so a supplier that fails to deliver has a claim route.
- Support runs on chat, phone and email, and the mobile app covers payments and balance checks.
Cons
- 39.9% sits above the 34.9% upper end of bad credit cards, so carrying a balance is expensive.
- Rewards on spending are none, so nothing comes back on everyday purchases.
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
Ocean Finance Card
Who it suits
- Applicants with poor credit who want a limit without paying an annual fee.
- Borrowers moving a balance who can cover the 2.9% transfer fee and clear it inside the intro period.
- People who put an eligibility check that leaves their credit score alone, and the purchase protection in Credit limit of GBP 200 to GBP 8,000, Section 75 protection on purchases between GBP 100 and GBP 30,000 and Mobile app to make payments and check balance, above cash back.
Who should look elsewhere
- Starling Personal Account Debit Card fits day to day spending from money already in an account, with a borrowing rate of 15% instead of revolving card interest.
- Chime Card (Secured Visa Credit Card) suits customers shopping in the US who want a secured line, with an annual fee of $0.
- Varo Believe Secured Credit Card suits savers who prefer a secured card, with an annual fee of $0.
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
Ocean Finance Card
Current offer
First period offer
0% for 6 months on balance transfers and purchases on the Ocean Credit Card: 0% for 6 months, 2.9% balance transfer fee
Representative 39.9% APR (variable) after the offer, purchase rate 39.94% APR (variable), credit subject to status
Source, checked September 26, 2026
Country by country
| Country | Ocean Finance Card | Varo Believe Secured Credit Card |
|---|---|---|
| United Kingdom | Yes | No |
| United States | No | Yes |
Questions about each
Ocean Finance Card
What does it cost to hold the Ocean Finance Card?+
The annual fee is £0, so holding the card costs nothing to run. A balance transfer carries a fee of 2.9%, and anything left on the credit card balance is charged at 39.9% until it is paid.
What rate does the Ocean Finance Card charge?+
The rate is 39.9%, high against the bad credit card group, where the upper quartile sits at 34.9%. Interest only applies to balances you do not clear, so the card costs nothing extra if you pay in full each month.
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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Ocean Finance Card
Varo Believe Secured Credit Card