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Capital One Credit Cards
Whether you need to repair your credit history or you're looking to reap rewards from your spending habits, Capital One credit cards may suit your needs.
Read our guide to learn about the different types of Capital One credit cards on the market, as well as the features and benefits of the different cards offered. Learn how to apply for a Capital One credit card and discover the eligibility requirements.
Capital One credit cards in Canada
Capital One offers 6 different credit cards in Canada – 3 guaranteed approval credit cards and 3 rewards cards. We’ve curated details of each Capital One credit card in the table below to help you compare your options.
|Type of card||Annual fee||Purchase interest rate||Details|
|Capital One Guaranteed Mastercard||Guaranteed approval||$59||19.8%||This guaranteed credit card can help you repair your credit score.|
|Capital One Low Rate Guaranteed Mastercard||Guaranteed approval||$79||14.9%||With this low purchase interest rate guaranteed card, you can build credit while saving on interest.|
|Capital One Guaranteed Secured Mastercard||Guaranteed approval||$59||19.8%||You’ll have to put a security deposit ranging from $75 to $2,500 to use the card.|
|Capital One Aspire Travel Platinum Mastercard||Travel rewards||$0||19.8%||This card lets you build up travel rewards with every purchase. Get 1 Reward Mile for every $1 spent.|
|Capital One Aspire Cash Platinum Mastercard||Cashback||$0||19.8%||You can earn 1 cashback on all of your purchases.|
|Capital One Costco Mastercard, exclusively for Costco Members||Cashback||$0||19.75%||Earn 3% cash back on restaurant purchases, 2% on gas purchases, and 0.5% on the first $3,000 spent annually on all other purchases (and 1% thereafter). There is no limit to the amount of cash back you can earn.|
The benefits of banking with Capital One
Capital One credit cards offer specific benefits like complimentary insurance, rewards points, Zero Liability and more. Here’s a summary of each of some of the features you can enjoy when you get a Capital One credit card:
Capital One rewards
Capital One typically offer a specific type of reward depending on the credit card you select. These rewards include cash back per dollar spent and points per dollar spent. If you are a Costco member, you can receive additional cash back from shopping at Costco and purchasing gas from the on-site gas stations. You can also earn extra cash back by eating at restaurants and paying with your Capital One card.
Capital One Internet and mobile banking
If you have a Capital One credit card, you can access your account online through Capital One online banking. You can also download the Capital One mobile app and access your credit card accounts via your smartphone. This means you can manage your credit card account, pay bills, request a credit limit increase on your card or apply for another Capital One credit card at any time, either online or via the app.
Capital One credit card complimentary extras
Many Capital One credit cards come with complimentary extras including Zero Liability. Premium cards tend to come with additional complimentary extras which may include Purchase Security, Extended Warranty Protection, travel insurance, baggage delay coverage, auto rental and collision insurance and a suite of other extensive insurance coverage.
Capital One credit cards security
Capital One offer a variety of security products with credit cards including Chip & PIN technology and Zero Liability. Zero Liability ensures that you have full coverage over any fraudulent or unauthorized purchases on your credit card. If your credit card has any suspicious spending activity, Capital One will inform you through their alerts system by sending you a text or an email immediately. In addition, they have a team on hand to help resolve any problems.
How to apply for Capital One credit cards
If you’ve done your own research and have decided that you’d like to apply for a Capital One credit card, you can begin the process by applying online at the secure Capital One website or by visiting a Costco Wholesale warehouse and applying in person. If applying online, you will be redirected from the main website to a secure Capital One credit card application page, where you can apply for a specific credit card if you have all of your documents and information handy.
Before you get started on your application, you should make sure that you meet the eligibility requirements for the specific credit card that you are interested in. Furthermore, have the necessary documents on hand so that you can correctly fill out the application form. Eligibility requirements can sometimes vary between credit cards but generally include the following:
- Your age. You should be the age of majority in your province or territory.
- Your residency status. You typically need to be a Canadian resident to apply for a Canadian credit card.
- Your credit history. Check your credit score if you are unsure of your credit history before applying for a credit card. Most credit cards will require you to have good to excellent credit, while some of the guaranteed and secured credit cards allow you to apply with bad credit.
Information you will need for your application
After checking that you are eligible for the credit card, you will need to gather the following information in order to proceed with the application process:
- Personal information. You’ll need to provide personal information such as your address and your contact information. You’ll also need to verify your identity by providing an accepted form of identification, such as your driver’s licence number or passport number.
- Financial information. You will need information about your current employment, income and assets like shares or property and your employer’s contact details. If you are self-employed, you may need to provide information regarding your expenses, liabilities and your accountant’s contact information.
How many Capital One credit cards can I have?
The general rule is that you’re only allowed have a maximum of 2 credit cards directly issued from Capital One. If you apply to Capital One for 3 or more cards, you’re application will be denied. However, this rule does not apply to cardholders with the following types of Capital One credit cards:
- Secured credit cards. Capital One’s secured cards don’t count toward the rule. If you started with a secured Capital One credit card and managed to build your credit, you are still eligible for 2 more Capital One credit card slots.
- Cobranded credit cards. Cobranded cards issued by Capital One and a retailer don’t count toward the rule. For example, you can get a Capital One Costco card in addition to the 2 Capital One cards you already have without going against the rule.
- Old Capital One cards. If a cardholder already had more than 2 Capital One cards when this rule was implemented in 2011, and decided to keep their cards, the rule didn’t affect them.
- Cards from Capital One acquired banks. Cardholders who held credit cards by banks bought by Capital One don’t count toward the 2-card rule.
If you want to apply for a second Capital One credit card you should wait at least 6 months after your last Capital One application. If you apply within 6 months of a previous Capital One application, you run the risk of being immediately denied.
Compare other credit cards
After comparing features of Capital One credit cards it’s a good idea to browse through other credit cards to make sure you’re comparing your options and finding the best credit card for your needs.
Frequently asked questions about Capital One credit cards
We’ve curated a list of some of the most commonly asked questions about Capital One credit cards. If you can’t find the answer to your question below, or if you’d like to leave us some feedback, get in touch with us by filling out the form at the bottom of this page.
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Capital One Aspire Cash Platinum Mastercard
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How to increase your Capital One credit limit
Call the bank to get a credit limit increase or submit a request online. You’ll need a history of responsible credit card use to get the increase.
Capital One Aspire Travel Platinum Mastercard
Capital One’s Aspire Travel Platinum Mastercard lets you earn rewards with no annual fee.
Capital One Low Rate Guaranteed Mastercard
Establish your credit while saving more with Capital One’s Low Rate Guaranteed Mastercard.
Capital One Guaranteed Mastercard
Capital One’s Guaranteed Mastercard can help you establish or repair your credit.
Capital One Costco Mastercard, exclusively for Costco Members review
Earn cash back with the Capital One Costco Mastercard. Learn more about the fees, rewards and eligibility requirements here.