{"id":1083931,"date":"2026-09-24T16:28:24","date_gmt":"2026-09-24T20:28:24","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=1083931"},"modified":"2026-09-24T17:04:17","modified_gmt":"2026-09-24T21:04:17","slug":"capital-one-guaranteed-secured-mastercard-review","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/credit-cards\/capital-one-guaranteed-secured-mastercard-review","title":{"rendered":"Capital One Guaranteed Secured Mastercard: Cardholder Insights"},"content":{"rendered":"<h3>Capital One Guaranteed Secured Mastercard pros<\/h3><ul class=\"list-1\"><li><strong>Guaranteed approval for eligible applicants.<\/strong> The main pro of this card is that, as long as you meet eligibility requirements, you&#8217;ll be approved even with poor or no credit. The cardholder I spoke to had filed a consumer proposal, which lowered their credit score, so the consumer proposal company recommended the Capital One Guaranteed Secured Mastercard to help rebuild their credit.<\/li><li><strong>No annual fee.<\/strong> The Capital One Guaranteed Secured Mastercard&#8217;s annual fee is $0.<\/li><li><strong>Potential to increase your credit limit.<\/strong> The cardholder said Capital One asks them to confirm their income each year and may offer a credit limit increase based on their income. They started with a $500 limit, which increased to $3,000 over 3 years.<\/li><li><strong>Free credit score access.<\/strong> Capital One&#8217;s Credit Keeper provides your TransUnion credit score for free, and checking it doesn&#8217;t affect your score. The score is refreshed weekly, so you can see how your credit is changing over time.<\/li><li><strong>Helpful mobile app.<\/strong> The cardholder said they can handle virtually everything on Capital One&#8217;s mobile app, including checking transactions, setting payment and fraud alerts, scheduling payments, changing their PIN, and reporting the card as lost, damaged or stolen. They said the app is so useful that they&#8217;ve never needed to call customer service, but if you do need support, live agents are available 24\/7.<\/li><li><strong>Purchase assurance and extended warranty.<\/strong> The Capital One Guaranteed Secured Mastercard provides purchase assurance against theft, loss or damage for 120 days<br \/> after the purchase date. It also doubles the original manufacturer&#8217;s warranty on eligible purchases for up to 2 years.<\/li><li><strong>Car rental insurance.<\/strong> If you pay for a car rental of up to 31 days in full with the card and decline the rental company&#8217;s Collision Damage Waiver, you&#8217;ll receive coverage for damage or theft of the rental vehicle.<\/li><li><strong>Travel and shopping discounts.<\/strong> The cardholder regularly receives offers and discounts from merchants like Vrbo and Booking.com.<\/li><li><strong>Price protection.<\/strong> If an eligible purchase drops in price within 60 days, you can claim the price difference, up to  per item and $500 per calendar year.<\/li><li><strong>Low minimum payment.<\/strong> Outside Quebec, the minimum payment is only $10 per month, or 1% of your balance plus interest and any past-due amount, whichever is higher. In Quebec, the minimum is $15 or 5% of your balance, whichever is higher. The cardholder I spoke to is in Ontario and said their minimum payment is always $10, which they find helpful for keeping their monthly payments manageable.<\/li><li><strong>Travel insurance benefits.<\/strong> Get coverage for accidental death or dismemberment while travelling on a common carrier, plus reimbursement for essential items when your baggage is delayed.<\/li><li><strong>Mastercard benefits.<\/strong> Since this is a Mastercard, you get benefits like Zero Liability, which can protect you from responsibility for unauthorized transactions, and Mastercard Global Service, a 24\/7 assistance service that can help with things like lost or stolen cards, emergency card replacement and emergency cash advances while travelling.<\/li><\/ul><h3>Cons<\/h3><ul class=\"list-12\"><li><strong>No cashback or rewards.<\/strong> The Capital One Guaranteed Secured Mastercard doesn&#8217;t offer a rewards program, so you won&#8217;t earn points, miles or cashback on your everyday spending.<\/li><li><strong>High interest rate.<\/strong> The standard rate for purchases, balance transfers and cash advances is 29.9% (21.9% in Quebec).<\/li><li><strong>Security funds required.<\/strong> Like most secured credit cards, the Capital One Guaranteed Secured Mastercard requires security funds as collateral. Once you&#8217;re approved, Capital One will tell you how much you need to provide to get your card. If you decide to close your account and have paid off your balance, you&#8217;ll receive the funds back.<\/li><li><strong>Limited value for cardholders with good credit.<\/strong> If you already have a strong credit history, you may find cards with perks like rewards or lower interest rates more valuable.<\/li><\/ul><h3>What are the eligibility requirements of the Capital One Guaranteed Secured Mastercard?<\/h3><p>You&#8217;re guaranteed approval for the Capital One Guaranteed Secured Mastercard if you meet all of the following requirements:<\/p><ul><li>You&#8217;re at least the age of majority in your province or territory of residence (18 or 19)<\/li><li>You&#8217;re legally authorized to have credit and don&#8217;t have a frozen credit profile<\/li><li>You don&#8217;t have an existing Capital One account or a pending application for one<\/li><li>You haven&#8217;t applied for a Capital One account more than once in the past 30 days<\/li><li>You haven&#8217;t had a Capital One account that wasn&#8217;t in good standing within the past year<\/li><li>You aren&#8217;t currently in legal recoveries with Capital One<\/li><\/ul><h3>What are the required documents?<\/h3><p>To get a Capital One Guaranteed Secured Mastercard, you need to provide the following:<\/p><ul><li>Government-issued photo ID<\/li><li>Proof of address if it&#8217;s not listed on your ID<\/li><li>Security funds after approval<\/li><\/ul><h3>What&#8217;s the application process like?<\/h3><p>To apply for a Capital One Guaranteed Secured Mastercard online, follow these steps:<\/p><ol><li>Find the card on Capital One&#8217;s website and select <strong>See if you&#8217;ll be pre-approved &amp; apply<\/strong>.<\/li><li>Select <strong>Check now<\/strong> and enter your full name and email address.<\/li><li>Enter your date of birth and Social Insurance Number (SIN). Providing your SIN is optional, as Capital One can use other information to verify your identity.<\/li><li>Enter your address and phone number.<\/li><li>Provide employment information, including your employment status, occupation and current employer.<\/li><li>Enter financial information, including whether you rent or own your home, your annual and household income and your monthly rent or mortgage payment.<\/li><li>Review your details and consent to Capital One performing a credit check. If everything looks good, select <strong>Check now<\/strong> to find out whether you&#8217;ve been pre-approved before submitting your application.<\/li><li>After you submit your application, you&#8217;ll receive an email with a link to complete digital identity verification. If you prefer, you can verify your identity in person at a Canada Post location.<\/li><\/ol><h3>Frequently asked questions<\/h3><ul class=\"luna-accordionGroup accordionGroup\">\n\t<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000000\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000000\">\n                <span class=\"luna-accordion__title\">Is the Capital One Guaranteed Secured Mastercard legit?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000000\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>The Capital One Guaranteed Secured Mastercard may sound too good to be true, but it is legit. Capital One operates in Canada through Capital One Bank (Canada Branch) with a corporate office in Toronto. The Canadian branch is authorized under Canada's Bank Act and is listed as a full-service foreign bank branch of Capital One, N.A., a U.S.-based bank.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000001\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000001\">\n                <span class=\"luna-accordion__title\">Can I get the Capital One Guaranteed Secured Mastercard with bad credit?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000001\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Yes, the Capital One Guaranteed Secured Mastercard is designed for people with poor or limited credit. Approval is guaranteed if you meet the eligibility requirements.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000002\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000002\">\n                <span class=\"luna-accordion__title\">How does the Capital One Guaranteed Secured Mastercard help me build credit?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000002\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Capital One reports your credit card activity to the credit bureaus. So, if you make at least your minimum payment on time and stay within your credit limit, you can build a positive payment history and potentially improve your credit over time.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000003\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000003\">\n                <span class=\"luna-accordion__title\">Do I need to provide security funds?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000003\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Yes, security funds are required for the Capital One Guaranteed Secured Mastercard. Once you're approved, Capital One will tell you how much you need to provide. The funds serve as collateral for your account and are held separately from your balance, but they'll be returned if you pay off your balance and close the account.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000004\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000004\">\n                <span class=\"luna-accordion__title\">Can I use the Capital One Guaranteed Secured Mastercard like a regular credit card?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000004\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Yes, the Capital One Guaranteed Secured Mastercard works exactly like a regular credit card for everyday purchases. You can use it anywhere Mastercard is accepted, up to your approved credit limit.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>We spoke with a cardholder to uncover the Wealthsimple Visa Infinite Privilege card\u2019s perks, drawbacks and experience.<\/p>\n","protected":false},"author":1395,"featured_media":1083950,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_focuskw":"","_yoast_wpseo_title":"Capital One Guaranteed Secured Mastercard: Cardholder Insights","_yoast_wpseo_metadesc":"We sat down with a cardholder to get an inside look at the Capital One Guaranteed Secured Mastercard. 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Discover the perks and downsides.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.finder.com\/ca\/credit-cards\/capital-one-guaranteed-secured-mastercard-review\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capital One Guaranteed Secured Mastercard: Cardholder Insights\" \/>\n<meta property=\"og:description\" content=\"We sat down with a cardholder to get an inside look at the Capital One Guaranteed Secured Mastercard. Discover the perks and downsides.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.finder.com\/ca\/credit-cards\/capital-one-guaranteed-secured-mastercard-review\" \/>\n<meta property=\"og:site_name\" content=\"Finder Canada\" \/>\n<meta property=\"article:published_time\" content=\"2026-09-24T20:28:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/sites\/5\/2026\/09\/CapitalOneGuaranteedSecuredMastercard_Supplied_1800x1000.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1800\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Rebecca Low\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rebecca Low\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/credit-cards\\\/capital-one-guaranteed-secured-mastercard-review#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/credit-cards\\\/capital-one-guaranteed-secured-mastercard-review\"},\"author\":{\"name\":\"Rebecca Low\",\"@id\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/#\\\/schema\\\/person\\\/dac978d814ec5930cc37687e07dc2c41\"},\"headline\":\"Capital One Guaranteed Secured Mastercard: Cardholder Insights\",\"datePublished\":\"2026-09-24T20:28:24+00:00\",\"dateModified\":\"2026-09-24T16:28:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/credit-cards\\\/capital-one-guaranteed-secured-mastercard-review\"},\"wordCount\":1423,\"publisher\":{\"@id\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/credit-cards\\\/capital-one-guaranteed-secured-mastercard-review#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cdn.finder.com.au\\\/finder-us\\\/wp-uploads\\\/sites\\\/5\\\/2026\\\/09\\\/CapitalOneGuaranteedSecuredMastercard_Supplied_1800x1000.jpg\",\"articleSection\":[\"Credit Cards\"],\"inLanguage\":{\"@type\":\"Language\",\"name\":\"English\",\"alternateName\":\"en\"},\"editor\":{\"@id\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/#\\\/schema\\\/person\\\/9d47eeda06b879b07a813536f2068c72\"},\"commentCount\":0},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/credit-cards\\\/capital-one-guaranteed-secured-mastercard-review\",\"url\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/credit-cards\\\/capital-one-guaranteed-secured-mastercard-review\",\"name\":\"Capital One Guaranteed Secured Mastercard: Cardholder Insights\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/credit-cards\\\/capital-one-guaranteed-secured-mastercard-review#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/credit-cards\\\/capital-one-guaranteed-secured-mastercard-review#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cdn.finder.com.au\\\/finder-us\\\/wp-uploads\\\/sites\\\/5\\\/2026\\\/09\\\/CapitalOneGuaranteedSecuredMastercard_Supplied_1800x1000.jpg\",\"datePublished\":\"2026-09-24T20:28:24+00:00\",\"dateModified\":\"2026-09-24T16:28:29+00:00\",\"description\":\"We sat down with a cardholder to get an inside look at the Capital One Guaranteed Secured Mastercard. 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