Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Capital One Guaranteed Mastercard

Capital One’s Guaranteed Mastercard is designed for people who want to establish or repair their credit. 

No reviews yet. Write a review

N/A

Welcome Offer

$59

Annual Fee

N/A

Rewards

Please note: All information about Capital One Guaranteed Mastercard has been collected independently by Finder and this card is not available through this site.

Canadians have no shortage of credit cards to choose from. if you’re looking for your first credit card or want to repair your credit score, the Guaranteed Mastercard from Capital One might be a good place to start

Of course, few things in life are “guaranteed”. That also applies to the Capital One Guaranteed Mastercard. But qualifying for one is pretty simple so long as you are above the age of majority; haven’t applied for a Capital One account more than once in the last 30 days; you don’t have an existing or pending account with the company; and you weren’t in bad standing with Capital One in the last year.

If you meet those criteria, read on to see if the Guaranteed Mastercard is right for you.

What banking products does Capital One offer?

Capital One is a subsidiary of Capital One Financial Corporation, a FORTUNE 500 company that offers a full suite of financial products. In Canada, Capital One’s products are limited to credit cards. There are more than a dozen credit cards to choose from. Unlike major financial institutions, it doesn’t offer bank accounts or investment products in Canada. If you do find any reference to these products and services, it applies to Capital One’s US operations only.

How does it compare to other banks or services?

Capital One’s US operations offer a full suite of credit, investment and banking services. On the Canadian side, Capital One focuses solely on credit products.

For this reason, Capital One offers highly competitive credit cards that let you earn rewards, build credit and repair bad credit. But if you’re looking for chequing, savings or investment accounts, you won’t find them with Capital One Canada.

Capital One reviews and complaints

The Capital One Guaranteed Mastercard has generally favourable reviews. According to Capital One’s website, roughly 85% of customers recommend the Guaranteed Mastercard based on nearly 7,000 reviews. The average customer rating is 4 out of 5 stars.

Why should I get a Guaranteed Mastercard?

Some of the main benefits of Capital One’s Guaranteed Mastercard include:

  • Easy to qualify. This Mastercard is “guaranteed” because it’s easy to qualify. Just satisfy the four conditions outlined above and you’ll get approved.
  • Establish or repair credit. If you’re looking for your first credit card or want to boost your credit score, this is the card to get.
  • Zero liability protection. If your credit card number gets compromised, you won’t be held responsible for unauthorized purchases.
  • Travel benefits. With this card, you’re covered under common carrier travel accident insurance, baggage delay and car rental damage.
  • Global acceptance. As part of the Mastercard network, you can use this card anywhere Mastercard is accepted. This includes ATMs.

What should I look out for?

Some of the disadvantages of the Capital One Guaranteed Mastercard include:

  • Annual fee. The Guaranteed Mastercard has an annual fee of $59.
  • High interest rates. Carrying a balance on your Mastercard will cost you. This card charges 19.8% interest on purchases, cash advances and balance transfers.
  • Low credit limit. The highest credit limit you can qualify for is $7,000, so keep that in mind if you’re looking to make large purchases on your card.

Capital One customer service

Customer service agents can be reached toll-free within Canada and the US at the following number: 1-800-481-3239. Hours of operation are not listed on Capital One’s Canadian website.

Alternatively, you can reach out to Capital One through various social media channels including Twitter and Facebook. Support via Twitter is available Monday through Friday between 9am and 5pm ET. If you send a message through Facebook, expect to hear back within a day.

Compare other credit cards

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
RBC Cash Back Mastercard
N/A
Up to 2% cash back
19.99%
$0
Min. recommended credit score: 650
Get 2% cash back on grocery store purchases, and up to 1% cash back on all other qualifying purchases and pre-authorized payments.
BMO CashBack Mastercard
5% cash back
Up to 3% cash back
19.99%
$0
Min. recommended credit score: 660
Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,500). Plus, get a rate of 1.99% on balance transfers with a 1% balance transfer fee for nine months.
Tangerine World Mastercard
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) on up to $1,000 of purchases in the first 2 months Until July 31, 2022. Plus, get a 1.95% interest rate on balance transfers for the first 6 months (valid within the first 30 days of account opening, 1% transfer fee applies).
RBC Avion Visa Infinite
55,000 points
Up to 1 point per $1 spent
19.99%
$120
Min. recommended credit score: 650
Get up to 55,000 Welcome Points. Get 35,000 points on approval and 20,000 bonus points when you spend $5,000 in your first 6 months. Apply by September 16, 2022.
OFFER
Tangerine Money-Back Credit Card
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) on up to $1,000 of purchases in the first 2 months Until July 31, 2022. Plus, get a 1.95% interest rate on balance transfers for the first 6 months (valid within the first 30 days of account opening, 1% transfer fee applies).
EXCLUSIVE
Neo Financial Mastercard
Get $25.00
Average 5% cash back
19.99% - 24.99%
$0
Min. recommended credit score: 600
Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at thousands of partners and at least 1% cashback guaranteed.
RBC Rewards+ Visa
3,500
Up to 1 points per $2 spent
19.99%
$0
Min. recommended credit score: 650
Earn up to 3,500 RBC Rewards points by going digital in the first 60 days.
BMO Preferred Rate Mastercard
0.99% rate on balance transfers for 9 months
N/A
12.99%
$0 annual fee for the first year ($20 thereafter)
Min. recommended credit score: 660
Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $20 annual fee waived in the first year.
Walmart Rewards Mastercard
Up to $25 in Reward Dollars
Up to 1.25% cash back
19.89%
$0
Min. recommended credit score: 650
Get up to $25 in bonus Walmart Reward Dollars.
American Express Cobalt Card
30,000 points
Up to 5x points per $1 spent
20.99%
$155.88
Min. recommended credit score: 700
Earn up to 30,000 Membership Rewards points in your first year. Earn 2,500 Membership Rewards points for each monthly billing period in which you spend $500 in net purchases on your card (up to 30,000 points).
loading

Compare up to 4 providers

The bottom line

Capital One’s Guaranteed Mastercard is the closest thing you’re ever going to get to “guaranteed” credit. It also offers travel perks and zero liability protection against unauthorized purchases. If you’re looking for your first credit card or want to repair existing credit, consider putting the Guaranteed MasterCard on your shortlist.

Go to site