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Mr. Loonie
Capital One® Smart Rewards™ Mastercard®

Capital One® Smart Rewards™ Mastercard®

6.6
Fair
Expert Score · 3 reviews How we score

Best for: People who want rewards for paying down their balance

Your spending a month
What’s in each?
Light:
Groceries $400, restaurants $100, gas $100, recurring bills $100, everything else (base rate) $250, foreign currency $50
Typical:
Groceries $800, restaurants $250, gas $250, recurring bills $250, travel $150, everything else (base rate) $650, foreign currency $150
Big:
Groceries $1,200, restaurants $500, gas $400, recurring bills $400, travel $500, everything else (base rate) $1,600, foreign currency $400
Yours:
Your own amounts, saved on this device only
Points you’d earn
150,000
points in the first year. We haven’t set a dollar value for them yet.
See how we worked it out
Annual fee
None
Apply now on Capital One’s site (opens in a new tab)
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

What you’d earn Can I get it? Fees Similar cards
From the numbers

The good and the bad

Stands out

  • Good: No annual fee It costs nothing to keep.

Watch for

  • 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.

Show your work

What you’d earn

With typical spending of $2,500 a month.

We haven’t set a value for points yet, so the bars show points.

  • Groceries 48,000
    5 points per $1 $800 a month · 48,000 points a year
  • Restaurants 15,000
    5 points per $1 $250 a month · 15,000 points a year
  • Gas 15,000
    5 points per $1 $250 a month · 15,000 points a year
  • Recurring bills 15,000
    5 points per $1 $250 a month · 15,000 points a year
  • Travel 9,000
    5 points per $1 $150 a month · 9,000 points a year
  • Everything else 39,000
    5 points per $1 $650 a month · 39,000 points a year
  • Foreign currency 9,000
    5 points per $1 $150 a month · 9,000 points a year
What counts in each category
Everything else (base rate)
5 points per $1 Points earned are from payments made towards your balance

These are example budgets to compare cards side by side, not averages. Your own spending will give a different number.

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 Each application shows up on your credit file. Leave a few months between card applications.

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 Smart Rewards™ Mastercard® is a good card for someone newer to their credit journey or for those looking to rebuild their credit score. This also makes it an option worth exploring for students/young adults and newcomers to Canada since it also helps build good credit usage skills and habits. Overall, Capital One Smart Rewards™ Mastercard® is a compelling part of the Capital One family of cards, and it’s nice to see a type of rewards structure that promotes good financial habits.”

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

    “The Capital One Smart Rewards Mastercard is worth it for those looking for a no-fee card with solid insurance perks. While the rewards potential is lacklustre, the extensive coverage can offset costly travel incidents. The unorthodox method of earning points with balance payments also helps promote healthy financial habits.”

  • SAVVY New Canadians (opens in a new tab) Oct 2023

    “If you’re someone who is not only looking for a card with no annual fees, great features, and benefits but also a card that rewards you for your good financial habits, then the Capital One Smart Rewards Mastercard is a good option. Even if you’re someone who doesn’t have the best financial habits, but wants to start improving, this card is a good option, as you’ll be rewarded for doing the right things financially.”

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
  • Baggage Delay insurance
  • 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.

Fees and interest

What it costs

Annual fee
None
Purchase interest
21.9%
Cash advance interest
21.9%
Foreign currency fee
2.5%
All fees and rates

Fees

Extra cards
None
Cash advance fee
1%, Minimum of $5, not to exceed $10
Balance transfer fee
$0.00
Over-limit fee
$29
Late payment fee
None
Source
Issuer page

Interest rates

Balance transfer interest
21.9%

Read the card terms and conditions for the full terms.

Checked on Nov 8, 2026. Source

Before you decide

Similar cards for the same spending

With typical spending. This card: — year one, — every year after.

See all cards ranked for your spending

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® Smart Rewards™ Mastercard®?

There is no annual fee.

Does it charge a foreign transaction fee?

Yes, 2.5% on purchases in other currencies.

What is the interest rate?

21.9% on purchases. Cash advances are 21.9%.

Does it include insurance?

It lists extended warranty, purchase protection, price protection and baggage delay insurance. 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

150,000
points
Apply now on Capital One’s site (opens in a new tab)
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