The Asos Credit Card isn't just for spending at Asos, it can be used with any retailer that accepts Mastercard and could be a better alternative than paying with 'buy now, pay later' BNPL schemes at the checkout.
Here, Which? takes a closer look at what the card offers, how it compares to other credit-builder deals, and how it differs from using BNPL schemes to pay.
What does the Asos Credit Card offer?
interest-freeDespite the distinct Asos branding on the card, there are no extra perks for shopping with Asos.
Find out more:Who is the Asos Credit Card aimed at?
The Asos Credit Card is suitable for those with a poor credit history.
When you use the card responsibly (ie making repayments on time and staying within the agreed credit limit) it will go on your credit report which can help boost your credit score.
Before you apply, you’ll have to complete an eligibility check on the Asos site. You’ll be given the credit limit and interest rate you’ll be offered, without it affecting your credit score.
To apply, you must be aged 18 or over and a UK resident. You'll need details of your income, any financial commitments and your address history.
Find out more:Who is Capital One?
Capital One is the lender providing the money on the Asos Credit Card.
So if accepted, you will use the Capital One app to manage your card.
Find out more:How does the Asos Credit Card compare?
If you’re looking for a credit card to build up your credit score, there may be better options.
Find out more:How does the Asos Credit Card compare to using BNPL?
Also, credit card borrowers can escalate a complaint to the Financial Ombudsman Service - an impartial body with legal powers - if there is an issue with the way the credit card provider has treated them. With BNPL borrowing issues, your complaint is handled by the BNPL provider.
Find out moreWhich? Limited is registered in England and Wales to 2 Marylebone Road, London NW1 4DF, company number 00677665 and is an Introducer Appointed Representative of the following: 1. Inspop.com Ltd for the introduction of non-investment motor, home, travel and pet insurance products (FRN 610689). Inspop.com Ltd is authorised and regulated by the Financial Conduct Authority (FCA) to provide advice and arrange non-investment motor, home, travel and pet insurance products (FRN310635) and is registered in England and Wales to Greyfriars House, Greyfriars Road, Cardiff, South Wales, CF10 3AL, company number 03857130. Confused.com is a trading name of Inspop.com Ltd. 2. LifeSearch Partners Limited (FRN 656479), for the introduction of Pure Protection Contracts, who are authorised and regulated by the FCA to provide advice and arrange Pure Protection Contracts. LifeSearch Partners Ltd is registered in England and Wales to 3000a Parkway, Whiteley, Hampshire, PO15 7FX, company number 03412386. 3.Optimise Media Limited (FRN 313408), for the introduction of HSBC Group, who are authorised and regulated by the Financial Conduct Authority to provide credit brokering activity. Optimise Media is registered in England and Wales to Exchange Street Buildings, 35-37 Exchange Street, Norwich, England, NR2 1DP and company number 04455319. We do not make, nor do we seek to make, any recommendations or personalised advice on financial products or services that are regulated by the FCA, as we’re not regulated or authorised by the FCA to advise you in this way. In some cases, however, we have included links to regulated brands or providers with whom we have a commercial relationship and, if you choose to, you can buy a product from our commercial partners. If you go ahead and buy a product using our link, we will receive a commission to help fund our not-for-profit mission and our campaigns work as a champion for the UK consumer. Please note that a link alone does not constitute an endorsement by Which?.
source https://www.which.co.uk/news/article/asos-launches-a-credit-card-is-it-worth-going-for-aV4ws1O7Nb52