Capital One Guaranteed Mastercard

This secured credit card offers guaranteed approval for those looking to build or rebuild credit in Canada, with an annual fee of $59.

Last checked on June 10, 2026. We may earn a commission when you click through.

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✓ Guaranteed approval for all applicants ✓ $59 annual fee is relatively low ✓ Helps build or rebuild credit effectively
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Capital One Guaranteed Mastercard

Mastercard · secured

Our Verdict Recommended

The Capital One Guaranteed Mastercard is a solid choice for individuals needing to establish or repair their credit history.

What it really costs

Annual fee CA$59
APR Range 21.9% – 29.9%

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Who it's for

Ideal for individuals aiming to establish or rebuild their credit, especially those with limited options.

Watch out

Be mindful of the high APR, which can lead to significant interest charges if balances are not paid in full.

The good and the not so good

  • Guaranteed approval for all applicants
  • $59 annual fee is relatively low
  • Helps build or rebuild credit effectively
  • Widely accepted Mastercard network
  • High APR of 19.8% on purchases
  • Requires a security deposit to open
  • Limited rewards program

In-Depth Review

Starting with a **19.8% APR**, the Capital One Guaranteed Mastercard is not the cheapest option for those who might carry a balance. However, its guaranteed approval makes it attractive for individuals with poor or no credit history. Unlike many competitors, this card requires a security deposit, which can be a barrier for some. The annual fee of **$59** is relatively low compared to similar secured cards, making it a cost-effective solution for building credit. However, users should be cautious of the limited rewards, as it primarily focuses on credit rebuilding rather than perks. Customer service feedback indicates a mixed experience, with some users appreciating the support while others report slow response times. For those who need to establish credit quickly, this card is a viable option, but those with good credit might find better rates and rewards with other cards. For more details, visit Capital One's official page [here](https://www.capitalone.ca/credit-cards/compare/).

Summary

The Capital One Guaranteed Mastercard is a practical choice for credit rebuilding, though its high APR may deter those who carry balances.

What cardholders say

Customers often praise the easy approval process but express concerns about the high interest rates.

See full review

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