Capital One Guaranteed Mastercard
Niche cardWhat the roles mean
- Building or rebuilding credit when other banks turn you down: $0 fee, approval guaranteed if you meet four conditions
Welcome offer now
No welcome bonus.
Checked on Capital One's own page October 21, 2026. See Capital One's page
What it earns in a year
$0 back a year
No annual fee to take off.
Based on $30,000 a year of spending ($9,600 groceries, $3,000 gas, $3,000 dining…). Welcome offer not included.
Try it with your own spending →
- Everything else: 0% back.
How to apply for the Capital One Guaranteed Mastercard
Check first
- No other Capital One card: no existing Capital One account or pending application
- One application in 30 days: and no Capital One account in bad standing in the last year, or in legal recoveries with Capital One
- Deposit may be required: Capital One decides if, and how much, when it approves you
- Check you qualify No minimum income listed. You need to live in Canada and be the age of majority in your province.
- Have this ready Your address and how long you've lived there, your employer and yearly income, and your monthly rent or mortgage. Your SIN is optional for a credit card; you can leave it blank.
- Expect a credit check Applying adds a hard inquiry to your credit report, which lowers your score a little for a few months. Space applications about 90 days apart.
- Apply on Capital One's own site Apply online from the bank's product page. This isn't an affiliate link: we earn nothing if you apply.Apply on Capital One's site →
How to use it
- Who it suits: no credit history, or a past you are repairing. It pays no rewards, so anyone who can get a regular card should
- Approval: guaranteed if you are of age of majority, your credit file is not frozen, you have no Capital One card or application open, and you have no recent bad history with Capital One
- Deposit: Capital One may ask for one when it approves you, and tells you how much. Send it by online bill payment to "Capital One Security Funds"; the card ships after it arrives
- Spending: put one or two small bills on it and pay in full every month. Capital One reports to the credit bureaus monthly; interest is 29.9% (21.9% in Quebec)
- Moving on: once you have a record of on-time payments, use Quick Check to see which Capital One card you would be pre-approved for, such as the Quicksilver World (3% on groceries and gas, $0 fee, needs $50,000 income), or apply for a rewards card at another bank. Capital One states no automatic upgrade
- Getting the deposit back: it is returned within 150 days of closing the card or paying off everything you owe, whichever is later
- Example: a $500 deposit costs about $15 a year in interest you could earn elsewhere at 3%
Posts about this card
Key facts
- Annual fee
- $0
- Purchase interest
- 29.9%
- Foreign currency fee
- Not published
- Min. personal income
- None published
- Min. household income
- None published
- Rewards
- No rewardsSee every No rewards card
Annual fee waiver
- No annual fee
From capitalone.ca product page, checked October 17, 2026. Not an affiliate link.
More Capital One cards
Pros
- No annual fee, and up to 5 additional cards at no charge
- Approval guaranteed on four conditions, with no income or credit score required
- A deposit may not be needed; the Guaranteed Secured Mastercard always requires one
- Monthly reporting to the credit bureaus, plus a free credit score in the app
- A regular Mastercard, not a prepaid card
- Purchase cover of 120 days and up to +2 years of warranty
Cons
- No rewards and no welcome bonus
- 29.9% interest (21.9% in Quebec)
- Who needs a deposit, how much, and the starting limit are not published
- Capital One keeps the interest on your deposit and can use it to pay what you owe
- Raising the limit means adding $1 of deposit per $1, up to $2,500
- Foreign-exchange and other fees are not published; they come with your approval
- No automatic move to an unsecured card is stated
Insurance included
- Rental car damage: up to 31 days (a longer rental voids all of it), cars up to $65,000 MSRP; decline the agency's cover
- Purchases: 120 days of theft/damage cover, $60,000 lifetime per account
- Extended warranty: doubles the maker's warranty, up to +2 years
- Travel accident: $250,000 per person, on fares charged to the card
- Delayed bags: $100 a day per person, up to 3 days
- Price protection: up to $100 per item ($500 a year) if the price drops within 60 days
Maximums as Capital One lists them. Conditions apply; the insurance certificate decides claims.
Perks
- Credit Keeper: free credit score in the app
- Quick Check: see which card you are pre-approved for, with no effect on your credit score
- Alerts: payment due and close to limit, to avoid missed payments
- Mastercard Global Service: emergency card replacement and cash abroad
How the offer has changed
One row per check of Capital One's page, newest first. Old rows are never edited.
| Checked | Welcome offer | Fee, year one | Ends |
|---|---|---|---|
| October 21, 2026 | None advertised (no rewards program). Guaranteed approval on four conditions; security funds may be requiredUnchanged. 29.9% (21.9% Quebec); page text identical to October 17, 2026 | $0 (no annual fee) | none stated |
| October 17, 2026 | None advertised (no rewards program). Guaranteed approval on four conditions; security funds may be requiredFirst row. 29.9% (21.9% Quebec); whether a deposit is needed, and how much, decided at approval | $0 (no annual fee) | none stated |
General information, not financial advice. Offers change; confirm on Capital One's page before you apply.