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Capital One Low Rate Guaranteed Mastercard

Capital One’s Low Rate Guaranteed Mastercard can help you repair or build credit while saving on interest charges. 

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$79

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

If you’re looking to build or repair credit without paying that much in interest charges, the Capital One Low Rate Guaranteed Mastercard might be for you.

As the name implies, this card is “guaranteed” as long as you meet some basic criteria. You will need to be 18 years of age or older, be in good standing with Capital One and make sure this is your only application with the company in the last 30 days. Do all that and you should be good to go.

Read on to see if the Capital One Low Rate Guaranteed Mastercard is right for you.

What banking products does Capital One offer?

Capital One Canada is in the credit card business, so don’t expect to find any information on bank accounts or investment products. If you do find any reference to Capital One banking or investment services, it applies only to its US operations.

How does it compare to other banks or services?

Capital One isn’t a bank – not in Canada, anyway. Its credit card offerings are as plentiful as the ones offered by the major banks. Capital One has more than a dozen Mastercard options that let you earn rewards and build credit.

Capital One reviews and complaints
Capital One’s Low Rate Guaranteed Mastercard has generally favourable reviews. Based on nearly 6,000 customer reviews, the card has an average rating of 4.1 out of 5, with 87% of reviewers recommending this product.

Why should I get a Low Rate Guaranteed Mastercard?

The following are the main benefits of the Capital One Low Rate Guaranteed Mastercard:

  • Easy to qualify. The credit card really is “guaranteed” as long as you meet some very basic bookkeeping requirements. If you do, you’ll get approved right away.
  • Competitive interest rate. Unlike the Guaranteed Mastercard, which charges you 19.8% interest on purchases and balance transfers, the Low Rate version charges only 14.9% interest on outstanding balances.
  • Good option as a first credit card. If you’re looking to build credit for the first time, a good option may be a low interest-rate, guaranteed Mastercard. The same holds true if you want to get your credit back on track.
  • Travel perks. If you book travel with this card, you’ll receive lots of benefits, like travel and baggage delay assistance as well as accident insurance.
  • Zero liability protection. You won’t be held accountable for unauthorized purchases.

What should I look out for?

The following are some of the main drawbacks of the Low Rate Guaranteed Mastercard:

  • Annual fee. This card will set you back $79 annually in mandatory fees.
  • High interest rate on cash advances. Cash advances incur a 21.9% interest charge.

Capital One customer service

If you’d like to speak to customer service, you can call the following toll-free number: 1-800-481-3239.

You can also reach out to Capital One on social media. The company maintains an active Twitter presence, with customer support available Monday through Friday between 9am and 5pm ET. You can also message Capital One on Facebook. Typical response time is one business 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).
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The bottom line

If you’re shopping for your first credit card, the Capital One Low Rate Guaranteed Mastercard ticks a lot of boxes: low interest rates, guaranteed credit and all the benefits of the Mastercard network. If that sounds appealing to you, visit Capital One‘s website to learn more.

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