Ocean Credit Card Debt

Being in debt is never a walk in the park; it can be a very overwhelming and stressful thing for a person to undergo.

Knowing how to handle and manage your debt effectively can make all the difference.

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This article will cover all there is to know about Ocean credit card debt and help you find the best debt solution.

Keep reading this article to get advice on your next steps to solve your Ocean Debt problem!

What Is An Ocean Credit Card?

An Ocean credit card is a credit builder card that can help you to build your credit score. It is easier to be accepted for an Ocean credit card than any other credit builder card.

Once you apply for an Ocean credit card, you should be approved more or less straight away. However, you still need to meet some terms and conditions to be eligible.

So if you have been declared bankrupt or have been issued a CCJ in the past, you will be less likely to be approved since this won’t look very appealing to Ocean.

Is Ocean A Legit Company?

The Ocean Finance company is owned and was established by Capital One in 2012. The Ocean card has been approved by users worldwide.

They are also authorised and regulated by The Financial Conduct Authority, which means they are approved brokers.

Ocean Contact Details

If you would like to contact Ocean about their services, you can do so using the following methods:

Giving them a call would probably be the most effective way to reach them.

Why Am I Being Contacted By Ocean?

If Ocean has contacted you, it is most likely because of outstanding debt or you have missed a payment.

You can be contacted by Ocean over the phone, by text, by email, or by a written letter sent to your address.

If they have contacted you, it is best not to ignore them since they will be required to take further action, which could potentially be legal action against you.

How Do I Stop Ocean From Contacting Me?

There is not necessarily a way to stop them from contacting you other than paying what you can off your debt.

However, if you tell your creditor your preferred method of contact, it should reduce the number of times they contact you since they should abide by what you have asked.

What Happens If I Ignore Ocean?

If you have been sent letters and emails from Ocean and you have ignored them or ignored any calls and texts. Ocean may decide to take further action.

If this is the case, Ocean can take you to court over the matter and have a CCJ issued against you, which will stay on your credit report for up to 6 years.

It is not advised to ignore anything sent to you by Ocean; instead, it is better to communicate with your financial advisor and see how much you can afford to pay each month.

What Happens If I Miss A Payment?

If you miss a payment with Ocean you will be charged extra interest on the amount you haven’t paid; you will also be charged a late payment fee which will be added to next month’s payment.

Late/missed payments can also affect your credit score and stay on your credit report for six years.

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What If I Can’t Pay Ocean What I Owe?

If you cannot pay your Ocean debt, a few solutions will help you manage your debt. These include:

Debt Management Plan

A debt management plan is a way to effectively manage your finances by seeing how much you can afford to repay each month.

Once you and your creditors have agreed on how much you will repay each month, a direct debit will be set up so you never miss a payment.

Debt Relief Order (DRO)

A debt relief order is slightly different from a debt management plan. A DRO is a quicker and easier alternative to bankruptcy.

Having a DRO means you don’t pay anything towards your debts for 12 months, and in that 12 months, creditors cannot chase you for the money.

One of the only downsides of a DRO is that it will stay on your credit history report for six years and could also impact your credit score.

Individual Voluntary Arrangements (IVA)

An IVA can be set between you and your creditors to pay off all or part of your debt, giving you better control over your existing assets.

To qualify for an IVA, the debt owed has to be over £6,000, and you must have two or more outstanding debts.

How Will Ocean Debt Affect My Credit Score?

Having any sort of credit card debt will negatively impact your credit score since your credit score determines how responsible you are with money.

A bad credit score can impact your chances of getting future loans such as mortgages, car loans and personal loans.

So you must continue with monthly payments on your debt so lenders can see that you are able and willing to pay the money back.

Will Paying Off My Ocean Debt Improve My Credit Score?

If you keep up to date with your monthly payments, your credit score will gradually increase.

The amount it increases depends on how good your credit history is, to begin with. It also depends on how quickly you pay off your debts.

How Do I Make A Payment To Ocean?

There are many ways to make a payment on your ocean credit card debt, such as:

  • Direct Bank Transfer
  • Direct Debit
  • PayPal
  • Cheque
  • Cash

They have made the payment process very easy and suited to any customer’s needs, making it hard for the customer to miss a payment.

Can You Make A Balance Transfer With Ocean?

To make a balance transfer with Ocean, you must apply for a money transfer card.

To be eligible for a money transfer card, you need to:

  • Be 18 years or older
  • Be a UK resident
  • Have a UK bank account

If you are a student, unemployed or have a bad credit score, it is very unlikely that you will be accepted for a money transfer card, and if you get rejected, it is advised that you wait a while before applying again.

What Is The Best Way To Manage My Ocean Debt?

Managing your debt is never easy, but once you have found a way that works for you, it can make all the difference.

You can do this by:

Work Out Your Budget


Working out how much you can afford each month is the first step to effectively managing your debt.

Once you have figured out your budget, you and your creditors can agree to set up a direct debit so the debt can be paid off monthly on a set date.

Prioritise Your Debts

If you have more than one debt, it will work in your favour to make a list of your debts and make sure that you pay more towards the more important ones like credit card debt.

This can help you allocate a set amount to each debt without confusion or forgetting about the debt altogether.

Personal Loans

Applying for a personal loan could also be a solution; however, if you have a less than perfect credit score or lenders don’t think you will pay the money back, they could reject you.

A personal loan can be good if you know you can afford to pay the money back on top of your other debts.

However, a personal loan could also add to your debt problem, so it is always best to get advice from your financial advisor.

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What Happens If I Fall Into Persistent Debt With Ocean?

If your debt has been ongoing for longer than 18 months, you will fall into persistent debt, which means you are not paying enough each month.

If you have fallen into persistent debt or are very close to it, Ocean will contact you and advise you to increase your monthly payments if possible.

If you do not do this, you will end up paying a higher interest rate than you were original, which means you will pay more than you need to.

How Do I Avoid Going Into Persistent Debt?

To avoid going into persistent debt with Ocean, they advise you to up your monthly repayments so the debt gets paid off quicker.

This will help you to save money overall in interest payments and will help you to improve your credit score.

What If I Cannot Afford To Increase My Monthly Payments?

If you cannot afford to increase monthly payments, you can continue to pay the minimum payments up until the 36-month mark.

If, after 36 months, you still cannot afford to increase your payments, your card will be suspended, and your credit score will take a big hit, resulting in a low credit score.

How Do I Complain About Ocean?

To complain about Ocean you would have to go through Captial One since Ocean are a product of them. To complain, you can:

Write to them: Complaints resolution Capital One PO Box 5281 Nottingham NG2 3Hx

All you have to do is leave your:

  • Name and Address
  • Account Number
  • The details of what you are complaining about
  • Your mobile number

If you are unhappy with how your complaint was handled, you can pass the complaint over to The Financial Ombudsman Service. You can contact them at:


Being in debt is never easy but ignoring and not paying creditors is not the way to deal with it since it can only worsen the situation.

Budgeting and ensuring that you meet the monthly payments is easier said than done but getting the right help can get you through the situation.

If you need further advice on your debt, don’t hesitate to speak to a financial adviser or get free advice.

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