Pros & Cons
Pros
- +Purchase protection included
- +No annual fee
Cons
- –Foreign Transaction Fee (2.5%)
Our Review
The Capital One Guaranteed Secured Mastercard is the secured version of Capital One’s guaranteed-approval card: it is designed for people who want to build or rebuild their credit score, with approval guaranteed as long as you meet the basic eligibility criteria. Unlike the standard version, security funds are required to open this account.
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. You can check whether you are pre-approved using the QuickCheck tool, with no impact on your credit score.
The card has no annual fee and gives you access to Mastercard benefits along with everyday protections such as Purchase Assurance and Extended Warranty. 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%
- Purchase rate (Quebec)21.9%
- Cash Advance29.9%
- Cash advance rate (Quebec)21.9%
- Balance transfer rate29.9%
- Balance transfer rate (Quebec)21.9%
- Foreign Transaction Fee2.5%
Terms & Conditions
Card Features
- Guaranteed Approval*
- May help you strengthen your credit history
- 24/7 customer service
- No annual fee
- Enjoy 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 are required
Legal
* You’re guaranteed to be approved for a Capital One Mastercard as long as:
- You have reached the age of majority in your province or territory of residence
- You don’t have a frozen credit profile and your eligibility for credit is not prohibited for legal or regulatory reasons
- You don’t have an existing Capital One account or a pending application for one; and
- You 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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