Best Capital One credit cards in Canada

The Capital One Guaranteed Mastercard® 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 21.9% - % on new purchases. The Guaranteed Mastercard® 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 Mastercard’s benefits include common carrier travel accident coverage of up to $250,000 for the cardholder, their accompanying spouse and dependent children; up to $300 total if baggage is delayed for 3 days; 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.

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 Travel™ Platinum Mastercard^® earns 1 Reward mile for every $1 spent on the card, and for no annual fee. That means not only are cardholders earning their next vacation every time they use the card; they’re earning it completely free of charge.  

The Capital One Aspire Travel™ Platinum Mastercard® is relatively easy to qualify for. Cardholders need to have ‘Good’ credit scores, which generally means at least three 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. There’s also price protection and extended warranty, as well as access to the Mastercard Global Service program.

The Capital One Aspire Cash Platinum Mastercard is a no annual fee credit card that allows you to enjoy both cash rewards and great insurance benefits. You can earn 1 Reward mile for every $1 spent.

The Capital One Aspire cash back card comes with the following insurance benefits:

• Purchase assurance: Your purchases are insured against theft, loss or damage for up to 120 days after purchase.
• Extended warranty: When you charge the full cost of an item to your Capital One credit card, the Extended Warranty coverage automatically extends the original manufacturer's warranty for up to 2 years.
• Car rental collision/Loss damage waiver: Receive insurance coverage on a rental car for up to 31 days.
• Price protection: If an item purchased with your Capital One credit card drops in price within 60 days of purchase, the Price Protection service refunds you the difference.
• Common carrier accident insurance: Get up to $250,000 in insurance coverage in case of accidental loss of life or dismemberment while on a common carrier.
• Baggage delay: Get up to $300 in coverage for lost or delayed luggage when you pay for your trip with your Capital one card.

Plus, you can help a friend or family member build credit and earn even more Capital One Rewards. Add an authorized user for $0 and rack up even more cash back with their purchases. More spending power equals more travel opportunities!

Like the Capital One Guaranteed Mastercard^®, the Capital One Guaranteed Secured Mastercard^® is a good fit for applicants with bad credit. Even those with bankruptcies or defaults within seven years prior to application, or those who don’t have any Canadian credit history at all, are eligible for this Mastercard.  

To get the Capital One Guaranteed Secured Mastercard^®, cardholders must provide minimum security funds $75, though they could be higher depending on their financial profile. Using the Capital One Guaranteed Secured Mastercard^® 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 Mastercard® comes with an annual fee of $0 and a standard interest rate of 21.9% - %. 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.

Read more: Check out our best secured credit cards Canada list

he Capital One Smart Rewards Mastercard stands out as an excellent choice for anyone looking to maintain a good credit score. That's because the Smart Rewards credit card rewards cardholders when they pay their credit card statement each month - and not when making purchases. 

That said, the card still provides a lucrative rewards structure that is benefited by $0 annual fee:

• Base earn rate: Earn 1.25 miles per dollar on all purchases, providing consistent value across all spending categories.
• Enhanced travel rewards: Get 5 miles per dollar on hotels and rental cars booked through Capital One Travel, maximizing your rewards on travel expenses.
• Your points will never expire. Ever.

Plus, like other Capital One Canada card offers, the Smart Rewards Mastercard lets you check your eligiblity before apply: .

Finally, the card comes packed with travel-enhancing benefits that can save you money and provide peace of mind:

• No foreign transaction fees: Save on international purchases, making this card ideal for globe-trotters.
• Price protection: Enjoy price drop protection on flights within 10 days of booking and a 24-hour price match guarantee, ensuring you get the best deals on your travel.
• Travel insurance: While specific coverage details may vary, many Capital One cards offer travel accident insurance and auto rental collision damage waiver, providing additional security during your trips.

Thinking about applying for a Capital One Card in Canada? Here's a quick rundown of the process of applying for (and getting) a Cap1 credit card:

Online preapproval

Capital One  offers pre-selection for its proprietary credit cards, though it calls the process “pre-approval.”  Despite this terminology, Capital One does not offer pre-approval without a credit check.

1. 1 Head to Capital One Canada's website
2. 2 Look for the "Quick Check®" or "Get Pre-Approved" option
3. 3 Fill in some basic info (things like your full name, residence, contact information, income and things like that)

From there you'll see which cards you're likely to qualify for

^{Capital One Canada provides a free, simple-to-use online pre-qualification tool to see if a Capital One credit card is right for you. Image courtesy of Capital One}

Applying for a card

Found a card that you like? The next step is applying:

1. 1 Choose your card and click "Apply Now"
2. 2 Complete the application, providing your personal info, employment info and relevent financial information like income
3. 3 Double-check everything (typos are not your friend here)
4. 4 Hit submit and cross your fingers!

The best part? You'll often get a decision almost instantly If not, hang tight - they'll let you know within 7-10 business days.

Types of Capital One cards

Capital One's Canadian credit card lineup has something for almost everyone. Capital One credit cards have your plastic needs covered, whether you're looking to earn some sweet rewards or build your credit from the ground up. Here's the lowdown:

• Rewards cards: For those with a taste for the finer things in life (or just a love for cash back), Capital One's rewards cards are where it's at. Earn points on your everyday purchases and watch those rewards stack up faster than pancakes at a lumberjack breakfast.
• Build or rebuild credit: Life happens, and sometimes your credit score takes a hit. No worries! Capital One Canada's got your back with cards designed to help you build or rebuild your credit. It's like financial physiotherapy for your credit score.
• Guaranteed and secured Cards: Worried about approval? Capital One's got options that'll have you saying "approved, eh?" faster than you can pour maple syrup on your morning waffles.

Quick Check®: Know before you go

Capital One Canada's not about wasting your time. Their Quick Check® tool lets you see if you're pre-approved without dinging your credit score. It's like trying on financial shoes before you buy 'em!

Online banking keeps you informed on the go

Capital One Canada's bringing the bank to your fingertips with their online banking services. Pay bills, check your balance, and manage your account faster than you can say "double-double." Their mobile app is so user-friendly, even your tech-phobic Uncle Bob could figure it out.

Need help? Capital One Canada's support centre is ready to assist. Whether you prefer to chat online, give them a ring, or communicate via carrier pigeon (okay, maybe not that last one), they've got you covered.

How Capital One Rewards works in Canada

The program automatically enrolls eligible Canadian cardholders upon credit card account setup. Specifically, you earn points based on net purchases, which are calculated daily and credited to your rewards account. Furthermore, the program allows you to track your earnings through online banking or the Capital One mobile app 

How to earn Capital One Rewards points with Canadian credit cards

Earning points with Capital One cards in Canada follows these key principles:

• Points are earned on net purchases (purchases minus credits or returns)
• Cash advances and balance transfers do not qualify for points
• Points begin accumulating immediately after enrollment

Additionally, your rewards account must remain in good standing to continue earning points. The program excludes earnings on security funds and payments made towards optional services 

Do points expire?

One significant advantage of Capital One Rewards is its longevity. Capital One Rewards points never expire if your rewards account remains open and in good standing. However, it's important to note that if your account is closed for any reason, you will forfeit any unredeemed points 

How to redeem points

Capital One provides multiple redemption options for Canadian cardholders:

• Travel: Book travel through Capital One 
• Gift cards
• Statement credits
• Online banking deposits