The best Capital One credit cards in Canada
money.ca / Capital One
Updated: December 23, 2022
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Capital One is a financial services provider that offers a range of credit cards. Capital One cards include guaranteed options for borrowers who need to rebuild their credit as well as cards that earn rewards points under the Capital One rewards program. All Capital One credit cards are Mastercards, which are accepted almost everywhere worldwide. No matter which Capital One card you get, youāll be entitled to access standard Mastercard benefits and global assistance.
Capital Oneās unsecured cards also come with extended warranty, purchase assurance, and price protection, a feature which allows cardholders to be refunded up to $100 per item when they buy a new item in Canada and then find it offered elsewhere at a lower price within 60 days of purchase. Each card with this feature is limited to a $500 cap in cumulative Price Protection reimbursements each year, but itās nonetheless a very valuable and rare feature.
Capital One Guaranteed Cards
Capital One Low Rate Guaranteed Mastercard
Quick Facts
Credit score: Bad-poor
Minimum personal income required: $0
Annual fees: $79
APR: 14.9% CAR: 21.9%
The Capital One Low Rate Guaranteed MastercardĀ® is a good fit for anyone whose credit history is less than optimal. Thereās both a secured and unsecured version available, so even applicants with bankruptcies and defaults in their credit history will be approved as long as they meet elementary requirements (like being the age of majority).
Both versions of the card have an annual fee of $79, but in exchange, cardholders get a relatively low interest rate of just 14.9%. Cardholders approved for the Secured version of the card must provide security funds of between $75 and $300, depending on their financial situation. Security funds are returned in their entirety when a cardholder closes their account and pays off their credit card bill.
Those that qualify for the unsecured version of the card are treated to extra perks like extended warranty, price protection, and a suite of travel insurance, including common carrier travel accident coverage, delayed baggage coverage, car rental collision, and damage waiver and emergency travel assistance. Cardholders of both the secured and unsecured variants enjoy zero liability if they fall victim to fraud, as well as standard Mastercard benefits such as 24/7 customer service.
Learn more about the Capital One Low Rate Guaranteed MastercardĀ®
Capital One Guaranteed Mastercard
Quick Facts
Credit score required: Bad-poor
Minimum personal income required: $0
Annual fees: $59
APR: 19.8% CAR: 21.9%
Similar to the Capital One Low Rate Guaranteed MastercardĀ®, the Capital One Guaranteed MastercardĀ® is aimed at anyone with bad or no credit history. The annual fee is lower at $59 per year, and in exchange cardholders pay the regular Capital One interest rate of 19.8% on new purchases. The Guaranteed MastercardĀ® is unsecured and those who are approved for it will receive benefits not available to those that receive the Secured version of the card (see below).
The Guaranteed Mastercardās benefits include common carrier travel accident coverage of up to $250,000 for the cardholder, their accompanying spouse and dependent children; up to $100 per day for up to 3 days if baggage is delayed; emergency travel assistance; and car rental collision or loss damage waiver. Cardholders also enjoy extended warranty, purchase assurance and price protection. *Please note that these benefits are available only to those that are approved for this Guaranteed card, not for the Secured Mastercard below.
Learn more about the Capital One Guaranteed MastercardĀ®
Capital One Guaranteed Secured Mastercard
Quick Facts
Credit score required: Bad-poor
Minimum personal income required: $0
Annual fees: $59
APR: 19.8% CAR: 21.9%
Like the Capital One Guaranteed MastercardĀ®, the Capital One Guaranteed Secured MastercardĀ® is a good fit for applicants with bad credit. Even those with bankruptcies or defaults within 7 years prior to application, or those who donāt have any Canadian credit history at all, are eligible for this Mastercard.
To get the Capital One Guaranteed Secured MastercardĀ®, cardholders must provide security funds of between $75 and $300, depending on their financial profile. Using the Capital One Guaranteed Secured MastercardĀ® and paying its bills on time can help cardholders rebuild their credit history and become eligible for even more valuable Capital One credit cards.
The Capital One Guaranteed Secured MastercardĀ® comes with an annual fee of $59 and a standard interest rate of 19.8%. Cardholders also get access to standard Mastercard benefits such as Mastercard Global Service, 24/7 customer service support , and zero liability in the event of identity fraud.
Learn more about the Capital One Guaranteed Secured MastercardĀ®
Capital One Cash Back Card
Capital One Aspire Cash Platinum Mastercard
Quick Facts
Credit score required: Fair-good
Minimum personal income required: $0
Annual fees: $0
APR: 19.8% CAR: 21.9%
If youāre looking for a cashback card that doesnāt come with an annual fee, you should consider the Capital One Aspire Cashā¢ Platinum MastercardĀ®. Not only is there no annual fee on the main credit card, but additional cardholders can also be added for no annual fee.
Unlike most no annual fee cashback cards, the Capital One Aspire Cashā¢ Platinum MastercardĀ® is essentially limitless in its potential for cashback accrual. Thereās no cap imposed on the amount of cash a cardholder can earn and no restrictions or lower rates on certain purchases. Every eligible purchase in every category earns 1% cashback. Redemption is flexible too, with the option to redeem as much or as little as a cardholder likes. Cashback points donāt expire, either.
Along with the great cashback offer, the Capital One Aspire Cashā¢ Platinum MastercardĀ® offers other benefits including price protection, extended warranty, zero liability and a suite of travel insurance. The travel insurance package includes car rental collision or damage waiver, common carrier travel accident coverage, delayed baggage assistance, and emergency travel assistance.
Learn more about the Capital One Aspire Cashā¢ Platinum MastercardĀ®
Capital One Travel Card
Capital One Aspire Travel Platinum Mastercard
Quick Facts
Credit score required: Fair-good
Minimum personal income required: $0
Annual fees: $0
APR: 19.8% CAR: 21.9%
Credit cards can be more than just a way of making purchases; they can be a gateway to seeing more of the world. The Capital One Aspire Travelā¢ Platinum MastercardĀ® earns 1 reward mile for every $1 charged to the card, and for no annual fee. That means not only are cardholders earning their next vacation every time they use the card; theyāre earning it completely free of charge.
The Capital One Aspire Travelā¢ Platinum MastercardĀ® is relatively easy to qualify for. Cardholders need to have āGoodā credit scores, which generally means at least 3 years of credit history in Canada, no/few overdue bill payments for the past 12 months, and being below the maximum credit limit on any other credit cards. The card has no minimum income requirements and additional cardholders can be added.
On top of the strong miles earn rate, the card offers account holders an impressive suite of travel benefits. This includes emergency travel assistance, common carrier travel accident coverage up to $250,000, delayed baggage coverage, and car rental collision or damage waiver. Thereās also price protection and extended warranty, as well as access to the Mastercard Global Service program.
Learn more about the Capital One Aspire Travelā¢ Platinum MastercardĀ®
Related articles:
Best credit cards for bad credit
How to make the jump from a secured to an unsecured credit card
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