Capital One Smart Rewards Mastercard
Skip for nowWhat the roles mean
- A no-fee card that pays about 0.6% in gift cards on what you pay off. Few people should pick it over a cash-back card
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
150,000 points a year
Worth about $188.
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: 5× points.
Using your points
On the spending above, 150,000 points a year, worth $188.
- What a point buys (0.125¢): Gift cards: 20,000 points = a $25 gift card. Capital One doesn't publish a better rate
How to apply for the Capital One Smart Rewards Mastercard
Check first
- No other Capital One card: an existing Capital One account, a Capital One application in the last 30 days, or a Capital One account not in good standing in the last year can get you declined
- 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
- Everyday spending: put it on another card if you can get one. This one earns 5 points per $1 you pay, and 20,000 points buy a $25 gift card (0.625%)
- Pay in full every month: at 21.9% to 29.9% interest, a carried balance costs far more than the points
- Redeem: gift cards from $25, through online banking only (not the app)
- Income of $50,000+ ($80,000 household)? Check the Capital One Quicksilver World instead: $0 fee, 3% on groceries and gas, 1% on the rest, in cash
- Example: $1,600/month paid off = 96,000 points = about $120 a year in gift cards
Key facts
- Annual fee
- $0
- Purchase interest
- 21.9%
- Foreign currency fee
- Not published
- Min. personal income
- None published
- Min. household income
- None published
- Rewards
- Capital One Smart RewardsSee every Capital One Smart 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 no fee for additional cards
- No income requirement stated
- Points never expire while the account is open
- Longer purchase cover than the Quicksilver cards: 120 days, and up to +2 years of warranty
- Quick Check shows if you are pre-approved, with no effect on your credit score
Cons
- About 0.625% back, and only in gift cards at Capital One's one published example
- Earns on payments, not purchases: nothing until you pay
- Capital One does not publish what points are worth as a statement credit, and can change values without notice
- No welcome bonus and no bonus categories
- Foreign-exchange fee not published
- Points are lost if you close the card
- An existing Capital One card can get you declined
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
- Alerts: fraud, bill increases, payment due, close to limit
- 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. Earn 5 points per $1 paid towards the balanceUnchanged. Rates 21.9%–29.9%; page text identical to October 17, 2026 | $0 (no annual fee) | none stated |
| October 17, 2026 | None advertised. Earn 5 points per $1 paid towards the balanceFirst row. Rates 21.9%–29.9%; FAQ example values 20,000 pts at a $25 gift card (0.125¢/pt) | $0 (no annual fee) | none stated |
General information, not financial advice. Offers change; confirm on Capital One's page before you apply.