- Capital One
- Mastercard
- Secured
Capital One® Guaranteed Secured Mastercard®
Best for: People rebuilding credit who can put down a deposit
- Purchase rate
- 29.9%
- Annual fee
- $59 a year
Have this card?
Details from Capital One’s site. Banks can update terms at any time, so give them a quick look before you apply. Source
The good and the bad
Watch for
- Watch for: $59 a year
- Watch for: 29.9% on purchases Higher than most cards. Pay in full each month to avoid it.
- Watch for: 2.5% on foreign purchases Use a no foreign fee card when you travel.
Worked out from the card’s rates and fees.
Can I get it?
- Age 18 or older 19 or older in BC, NB, NL, NS and the territories
- Where you live Canada
- Security deposit $75
- Credit score No minimum on record Most banks don’t publish one, and we don’t guess.
Mr. Loonie’s tip Pay the full balance every month and keep it well under your limit. That is what builds your credit score.
Other reviewers on this card
-
Money.ca (opens in a new tab) May 20254
“The Capital One® Guaranteed Secured Mastercard® is designed for individuals with limited or poor credit, offering guaranteed approval (subject to conditions) and the opportunity to rebuild credit through responsible use. Cardholders are required to provide a security deposit, and benefit from features such as purchase protection and extended warranty coverage, though the card carries an annual fee and a standard interest rate.”
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My Rate Compass (opens in a new tab) Oct 20227.4
“This card is specifically designed for Canadians who have had a delinquent Capital One account in the year preceding application for this card. Recognizing that everyone can experience financial hardship from time to time, Capital One offers this card as a useful and convenient way to rebuild damaged credit. While an account delinquency can result in an applicant's immediate rejection by other credit card companies, this card provides a way for cardholders to get their finances back on track along with several additional benefits, all with the backing, technology, and resources of a major international financial institution”
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Ratehub.ca (opens in a new tab) May 2016
“If you have a bad credit history and you’re looking for the opportunity to rebuild your credit, you should consider the Capital One Guaranteed Secured MasterCard. As a secured credit card you’re essentially always granted approval because you don’t need to have a minimum annual income in order to qualify.”
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What comes with it
- Car rental damage Included
- Extended warranty Included
- Purchase protection Included
- Price protection Included
- Travel accident Included
- Baggage delay Included
- Travel Assistance
Coverage limits
We haven’t recorded the coverage limits for this card yet. Read Capital One’s insurance certificate before you count on any coverage.
Not included
Not listed for this card: travel medical, trip cancellation, trip interruption, flight delay, lost baggage and mobile device.
What it costs
- Annual fee
- $59 a year
- Purchase interest
- 29.9%
- Cash advance interest
- 29.9%
- Foreign currency fee
- 2.5%
All fees and rates
Fees
- Cash advance fee
- 1%, Minimum of $5, not to exceed $10
- Balance transfer fee
- $0.00
- Over-limit fee
- $29
- Late payment fee
- None
Interest rates
- Balance transfer interest
- 29.9%
- Source
- Issuer page
Read the card terms and conditions for the full terms.
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Questions people ask
What is the annual fee on the Capital One® Guaranteed Secured Mastercard®?
$59 a year.
Does it charge a foreign transaction fee?
Yes, 2.5% on purchases in other currencies.
What is the interest rate?
29.9% on purchases. Cash advances are 29.9%.
Does it include insurance?
It lists extended warranty, purchase protection and price protection. Read the insurance certificate for the limits.
Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. This page is general information and isn’t financial advice.
Spot something wrong? We’ll check it with the bank. Suggest a correction
Card names, logos and trademarks belong to their owners. No issuer wrote, paid for or approved what we say about this card. Our scores and opinions are our own.
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