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.

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

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/).