Capital One Guaranteed Mastercard®
No annual fee, guaranteed approval with conditions. APR 21.9%–29.9%. Ideal for building or repairing credit. Enjoy Mastercard benefits and add authorized users at no extra cost.
The Capital One Guaranteed Mastercard® is a popular choice for Canadians seeking no annual fee and guaranteed approval. Its annual interest rate ranges between 21.9% and 29.9%. This card helps you establish or rebuild credit, and enables users to add authorized users at no additional cost. Some applications may require security funds based on your credit profile. You benefit from Mastercard Zero Liability protection, adding peace of mind for every purchase.
How to Apply: Simple Steps
- Prepare your basic personal and financial information.
- Visit the Capital One Mastercard application page online.
- Complete the application form with accurate details.
- Review your information to ensure accuracy before you submit.
- Submit the application and await a response, usually provided quickly.
Highlights and Pros
The Capital One Guaranteed Mastercard® makes it effortless to start building or improving your credit. No annual fee means ongoing savings. Additionally, cardholders enjoy Mastercard’s standard benefits, including Zero Liability protection and worldwide acceptance. The opportunity to add authorized users for free supports families or partners managing shared expenses.
Safe, secure and convenient, this card can qualify you where other options do not, provided you meet the straightforward security fund requirements if needed.
Points to Consider
One area to consider is the higher standard APR of up to 29.9% for some users, depending on application approval. There is no specific introductory rate for purchases or balance transfers, which some users may find limiting. Additionally, some applicants are required to provide deposit funds—something to keep in mind if you’re seeking a completely unsecured product.
Final Verdict: Who Should Apply?
The Capital One Guaranteed Mastercard® is best for those new to credit or looking to repair their credit score in Canada. With no annual fee, flexible approval and solid benefits, it’s a reliable choice to help build a positive credit history. Just be mindful of the interest rates and security funds if required for your approval.
