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 offer a host of credit cards that may suit your needs.
Capital One conducts business solely online in Canada and provides a range of different MasterCard credit cards suitable for a variety of different spending habits. They also work with Costco Wholesale and offer a credit card associated with the warehouse giant. Whether you are looking to reap the rewards from shopping at Costco Wholesale warehouses or you are looking to build your credit score, there are a few different credit cards on offer that suit different financial situations. Credit cards on offer include rewards, cash back, secured and travel credit cards.
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.
Types of Capital One credit cards available
With Capital One, you can choose from credit cards that each offer specific benefits like cash back, points per dollar spent, complimentary insurance, low rates and zero fees. Here’s a summary of each of the main types of Capital One credit cards on offer:
- Cash Back credit cards
Capital One cash back credit cards give you cash back on all of your purchases. If you’re a Costco member, you can receive additional cash back when shopping at Costco, purchasing gas or eating at restaurants. Non-Costco cash back cards usually provide 1% cash back on all purchases, while Costco cash back cards provide between 1-3%. These cards come with Zero Liability and additional insurance can be added.
- Travel Rewards credit cards
Capital One offer a premium travel rewards credit card that allows you to earn points per dollar spent. There are usually no limits on the amount of points you can collect, and some cards even come with introductory bonus points. These types of cards offer travel insurance, flexibility and plenty of perks. You can redeem points for flights, hotels and other travel related expenses.
- Secured credit cards
Capital One offer a secured credit card that allows you to work on building up your credit score while safely spending money. The credit limit on your card will depend on your history, but usually runs from $300 to $2,500. You will be required to put $75 to $300 up as security for collateral, however this is returned if you ever close the account.
- No Annual Fee credit cards
Whether you want to earn cash back dollars or work on building up your credit score, you can reap the benefits you want with a no annual fee credit card. With a $0 annual fee, these cards typically come with Zero Liability, with the option to add additional insurance.
- Guaranteed credit cards
Capital One offer a couple of credit cards tailored specifically for those with bad credit scores. Also called guaranteed credit cards, these cards typically come with low annual fees and allow you to repair your credit history with low interest rates.
The benefits of banking with Capital One
Some of the features you can enjoy when you get a Capital One credit card include:
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 a Capital One credit card
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.
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.
Read more on this topic
How to recover your points or miles Need to cancel your travel plans? Find out how you can recover your points or miles and avoid paying additional fees.
Compare HSBC Rewards Mastercards Compare HSBC Rewards Mastercards to pick the best card for your unique set of needs, lifestyle and budget.
How to use the CIBC Aventura Travel Assistant Find out how you can plan your next trip overseas with the help of the CIBC Aventura Travel Assistant.
What should I do with my credit card rewards during coronavirus? It depends on your situation and what type of rewards you have. Learn more.
AIR MILES vs Avion Planning your next trip? Learn how to compare frequent flyer programs to get the best fit for your needs.
What’s the Koho Metal Card and how can I get one? Want a limited edition metal credit card for no annual fee? Find out how you can get your hands on the Koho Metal Card before it runs out of stock.
Does credit card travel insurance cover coronavirus? Find out how you can qualify for credit card travel insurance if you need to change your travel plans due to coronavirus.
Mastercard Tap & Go® Understand how Mastercard's Tap & Go® contactless payment works and the security measures that are in place to protect your purchases.
Contact your bank for credit card payment relief during coronavirus See which banks offer credit card relief for coronavirus.
How long should I wait to apply for another credit card? Here's why you should consider waiting 3 to 6 months between credit card applications.