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Mr. Loonie
Capital One® Guaranteed Mastercard®

Capital One® Guaranteed Mastercard®

6.6
Fair
Expert Score · 3 reviews How we score

Best for: People with poor credit who need a card they are sure to get

The balance you carry
Interest you’d pay in a year
$897
On a $3,000 balance at 29.9%

Ranked #147 of 176 for low interest. See the list

See how we worked it out
Purchase rate
29.9%
Annual fee
$59 a year
Apply now on Capital One’s site (opens in a new tab)
Earns no rewards
We may get paid if you apply through this link. It never changes our score.

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

Is it for me? Interest Can I get it? Perks Fees Similar cards
2 quick questions

Is it for me?

Do you carry a balance from month to month?

Do you want to earn rewards on your spending?

Answer the 2 questions to see if it fits.

From the numbers

The good and the bad

Watch for

  • Watch for: Earns no rewards If you pay in full each month, a no fee cash back card gives you more.
  • Watch for: $59 a year
  • Watch for: 29.9% on purchases Higher than most cards. Pay in full each month to avoid it.

Worked out from the card’s rates and fees.

Show your work

What you’d pay in interest

On a balance of $3,000 that you carry for a year.

  • This card $897
    29.9% $3,000 carried all year
  • A typical card $630
    20.99% $3,000 carried all year

A late payment can end a promotional rate early. Simple yearly interest on a balance that stays the same. Banks charge interest monthly, so the real cost comes out a little higher.

Before you apply

Can I get it?

  • Age 18 or older 19 or older in BC, NB, NL, NS and the territories
  • Where you live Canada
  • Credit score No minimum on record Most banks don’t publish one, and we don’t guess.

Mr. Loonie’s tip A balance transfer only helps if the balance shrinks. Set up an automatic payment so it goes down every month.

What critics say

Other reviewers on this card

6.6
Fair
Expert Score How we score
  • Milesopedia (opens in a new tab) Nov 2025

    “The Capital One Guaranteed Mastercard is a strong choice for anyone just starting out on their credit journey, and especially for those looking to rebuild their credit score. Thanks to its guaranteed approval, no annual fee, and no minimum income requirement, the Capital One Guaranteed Mastercard lets you apply with confidence and then carry this confidence into your financial habits.”

  • Money.ca (opens in a new tab) May 2025
    4

    “The Capital One® Guaranteed Mastercard® is designed for individuals with less-than-perfect credit histories, offering guaranteed approval (subject to conditions) and the opportunity to rebuild credit. Depending on the applicant's credit profile, approval may be for an unsecured card or a secured version requiring a security deposit; both versions provide benefits such as purchase protection and extended warranty coverage.”

  • Finder (opens in a new tab) Jan 2022

    “Capital One’s Guaranteed Mastercard is the closest thing you’re ever going to get to “guaranteed” credit. It also offers travel perks and zero liability protection against unauthorized purchases. If you’re looking for your first credit card or want to repair existing credit, consider putting the Guaranteed MasterCard on your shortlist.”

What cardholders say

Ratings from people with this card

No ratings yet. If you have this card, tell others what it’s like.

Applied and weren’t approved?

Insurance and perks

What comes with it

  • Car rental damage Included
  • Extended warranty Included
  • Purchase protection Included
  • Price protection Included
  • Travel accident Included
  • Baggage delay Included
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.

Fees and interest

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.

Before you decide

Similar cards

Purchase interest on each card. This card: 29.9%.

See all cards ranked by interest

Some of these links pay us when you apply, at no extra cost to you. Most don’t, and pay never changes our score. How we make money

Common questions

Questions people ask

What is the annual fee on the Capital One® Guaranteed 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.

Mr. Loonie is independent and supported by affiliate links. We may earn a commission when you apply through some links, at no cost to you. How we make money

$897
interest a year
Apply now on Capital One’s site (opens in a new tab)
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