Capital One Low Rate Guaranteed MasterCard Review
Top features at a glance: $300 to $7,000 credit limit Guaranteed credit card approval 14.9% annual interest rate on purchases and balance transfers
- Guaranteed credit card approval
- 14.9% annual interest rate on purchases and balance transfers
- Zero Liability protection, so you won’t be held responsible for unauthorized use of your card
- Security funds may be required.
- Priority airport services No
- Airport lounge access No
- Concierge service No
- Balance protection(Optional) No
- Purchase Security & Extended Protection Insurance Yes
- Flight delay insurance,Baggage Insurance Yes
- Vehicle rental insurance Yes
- Travel accident insurance Yes
- Travel medical insurance Yes
- Annual Fee: $79
- Additional Card Fee: $0
- Purchases Interest Rate: 14.9%
- Cash Advance Interest Rate: 21.9%
- You're a Canadian resident
- You've reached the age of majority in your province or territory
Price Protection Service Purchase Assurance Extended Warranty
Common Carrier Travel Accident Insurance
Car Rental Collision/Loss Damage Waiver
Baggage Delay Travel Assistance
The Low Rate Guaranteed Mastercard from Capital One is nearly identical to the regular Guaranteed Mastercard except this card carries an annual fee of $79 and an annual interest rate of 14.9% on purchases and balance transfers and 21.9% on cash advances.
Being very similar to the standard Capital One Guaranteed Mastercard, this card offers the same guaranteed approval for Canadians who meet the four basic criteria required for approval for the standard Guaranteed Mastercard. This card's defining feature, however, is its lower interest rate. In exchange for a slightly higher annual fee, cardholders receive an interest rate cut of 5% over the standard Guaranteed Mastercard. Additional benefits include price assurance, purchase protection, extended warranties, a suite of travel insurance products, and zero-liability fraud protection.
The bottom line: The Low Rate Guaranteed Mastercard from Capital One is made for Canadians seeking to establish or repair their credit history and who also intend to carry a credit card balance from time to time. Depending on the amount of the balance carried from month to month, the slightly higher annual fee as compared to the standard Guaranteed Mastercard could quickly pay for itself and ultimately save the cardholder a substantial amount of money in interest payments over the course of a year.