Pros & Cons
Pros
- +Purchase protection included
- +No annual fee
Cons
- –Foreign Transaction Fee (2.5%)
Our Review
The Capital One Guaranteed Mastercard is designed for those who want to build or rebuild their credit score, with no annual fee. Approval is guaranteed as long as you meet the basic eligibility criteria, and you can check whether you are pre-approved with no impact on your credit score using the QuickCheck tool.
By using your card responsibly and making your payments on time, you show the credit bureaus that you can manage credit, which helps gradually improve your credit history. Capital One reports your account activity to the credit bureaus on a regular basis.
You get a credit limit of $300 to $7,000 (security funds may be required), along with the full range of Mastercard benefits: Zero Liability, Mastercard Global Service and customer service available around the clock. The card also includes a range of everyday protections, such as Purchase Assurance, Extended Warranty and Price Protection, as well as certain travel coverages.
You can add an authorized user for free. The annual interest rate is 29.9% (21.9% for Quebec residents) on purchases, balance transfers and cash advances.
Travel Insurance
Delayed Baggage
Up to $300
Travel Accident
Up to $250,000
Purchase Protection
Purchase Protection
Included
Extended Warranty
+2 year(s)
Auto Rental
Up to $65,000 / 31 days
Interest Rates
- Purchase Rate29.9%
- Cash Advance29.9%
- Balance transfer rate29.9%
- Foreign Transaction Fee2.5%
Terms & Conditions
Card Features
- Guaranteed Approval*
- May help you strengthen your credit history
- 24/7 customer service
- No annual fee
- $300 – $7,000 credit limit
- Valuable Mastercard benefits, plus Everyday and Travel benefits like Purchase Assurance and Extended Warranty
- Add an authorized user for $0
- Annual interest rate of 29.9% (21.9% in Quebec) on purchases, balance transfers, and cash advances
- Security funds may be required
Legal
* You’re guaranteed to be approved for a Capital One Mastercard as long as you:
- Are at least the age of majority in your province or territory of residence;
- Don’t have a frozen credit profile and your eligibility for credit is not prohibited for legal or regulatory reasons;
- Don’t have an existing Capital One account or a pending application for one; and
- Haven’t applied for a Capital One account more than once in the last 30 days, haven’t had a Capital One account that was not in good standing in the last year, and aren’t in legal recoveries with Capital One.
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