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Capital One Guaranteed Mastercard

If you are looking to rebuild your credit score, the Capital One Guaranteed Mastercard is a great option for you.

Capital One Guaranteed Mastercard
Source: Capital One Guaranteed Mastercard

Rebuild or establish a credit score takes times and you need to find the right tools to help you with that, the Capital One Guaranteed Mastercard is the perfect credit card to help you with that task, you have the Capital One guarantee that you will get approved to this card, even if you do not have a good credit.

To get this card you only need to meet four conditions, but even if you can get the Guaranteed version, you can apply to the Capital One Secured credit card and get a credit card that will help you with your financial goals. To know more about the Capital One Guaranteed Mastercard, continue reading our text!


Capital One Guaranteed Mastercard
CREDIT CARD
Capital One Guaranteed Mastercard
Establish or repair your credit Price Protection Service
Improve your credit:

Conditions to get the Guaranteed Mastercard

To get the Capital One Guaranteed Mastercard you need to check four conditions established by Capital One, first one is age, you have to be at least the age of majority on your province to apply for this card.

You also cannot have a previous Capital One account that was defaulting on the previous year of your application, you also cannot have applied for a Capital One account in the 30 days before applying for this credit card.

You also cannot have a Capital One account or a pending application for one before applying, if you are not able to meet these criteria and get the Guaranteed Gold Mastercard, you will get the Secured version, for this you will need a security fund as collateral.

More about Guaranteed Mastercard

The main benefit of this credit card is to help you build or rebuild a credit score, but this is not the only benefit, these are some other features of this card:

  • Price Protection Service: when you use the card to purchase something and for some reason the item goes on sale on the sixty-days after you buying it, Capital One will pay the price difference. This is valid for up to $100 per item and up to $500 per year.
  • Purchase Assurance: if you purchase something considered personal with this credit card you are protected for 120 days against damage, loss or theft.
  • Zero Liability Protection: with this you don’t need to worry, because you will not be held responsible for any unauthorized transaction made with your card.
  • Mastercard Global Service: if you lost your card or it is stolen, Mastercard provides an emergency replacement or emergency cash advance for you!

Qualification Requirements

To qualify for the Capital One Guaranteed Mastercard, applicants must meet basic criteria, including being of majority age in their province or territory, not having an existing Capital One account or pending application, and not having applied for a Capital One product in the last 30 days. Additionally, applicants for the secured version must be able to provide the required security funds​​.

Recent Trends

Recent trends in credit card usage highlight the significance of the Capital One Guaranteed Mastercard for individuals with challenging credit histories. The card’s guaranteed approval (conditions apply) caters to those with poor credit scores or a history of bankruptcies, offering them a lifeline in credit access. This trend underscores the evolving landscape of financial products, where inclusivity and accessibility are becoming paramount​​.

How to Apply for the Capital One Guaranteed Mastercard

Capital One Guaranteed Mastercard
Source: Capital One Guaranteed Mastercard

Applying for the Capital One Guaranteed Mastercard is a streamlined and user-friendly process. Here’s a step-by-step guide to help you through:

  1. Visit the Website: Start by navigating to the Capital One website. Look for the Guaranteed Mastercard section.
  2. Check Eligibility: Review the eligibility criteria to ensure you meet the requirements, such as age and residency.
  3. Gather Information: Prepare necessary documents and information, including your personal details, financial information, and employment status.
  4. Complete the Application: Fill out the online application form with your details. This will include your name, address, income, and other relevant information.
  5. Review and Submit: Double-check your application for accuracy and completeness. Once satisfied, submit your application.
  6. Wait for Approval: After submission, you’ll typically receive a decision fairly quickly. Approval times can vary, so be patient.
  7. Receive Your Card: If approved, your Capital One Guaranteed Mastercard will be mailed to you. Expect it to arrive within a few weeks.

FQAs

What is the Interest Rate?

The Capital One Guaranteed Mastercard offers a standard interest rate of 19.80% applicable to purchases, balance transfers, and cash advances. This rate is consistent across various transactions, providing clarity and simplicity for cardholders.

Is There an Annual Fee?

Yes, there is an annual fee of $59 for the Capital One Guaranteed Mastercard. This fee is relatively modest compared to other credit-building cards and is an important factor to consider in the overall cost of maintaining the card.

Can I Add Authorized Users?

Cardholders of the Capital One Guaranteed Mastercard have the option to add authorized users to their account. These users will have their own card and card number but will share the primary cardholder’s line of credit and benefits.

Are There Any Rewards?

The primary focus of the Capital One Guaranteed Mastercard is to assist cardholders in building or repairing their credit. As such, it prioritizes credit-building features over rewards.


Capital One Guaranteed Mastercard
CREDIT CARD
Capital One Guaranteed Mastercard
Establish or repair your credit Price Protection Service
Improve your credit:

Written By

Formado em direito Especialista em economia, investimento e finanças pessoal. Seu foco é mudar a vida financeira das pessoas.