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    Best Capital One Credit Cards Canada



    The best Capital One credit cards Canada are somewhat easy to determine, because there are 11 cards and all of them have different benefits for different individuals.

    My Main categories are individuals with Good Credit, Bad Credit, Carry a Balance and Doesn't Carry a Balance. Another category is if you're a big spender or a little spender. If you spend more or less than $2500 per month on your credit card will determine if you're a big spender or little spender. I also consider if you're a convenience user, or a credit user.

    Apply Today! Capital One - SmartLine™ Platinum MasterCard

    Good Credit - Excellent Credit



    Capital One has 7 "good credit" credit cards. These are broken down into seven different areas: Travel Rewards, cash back, other rewards, low interest and balance transfers. The best capital one credit cards Canada depends on your needs and your usage habits.

    Carry a Balance - Need Lowest Interest Possible



    If you carry a balance then you are what I call a credit user. You're using the credit card for the usage of the credit line available. You will want the lowest interest rates available. Capital One's best rates are for those who have good credit. There are two cards in this category:

    Capital One - SmartLine™ Platinum MasterCard


    This card is for individuals who have excellent credit history.

    The interest rate on this card is 5.99% which is good if you want to save money on interest.. This card requires you to have an excellent credit rating.

    Some of the other features are as follows:
    • This card has no annual fee. If you do a cash advance you'll pay 19.8% interest, so it's not a good card for borrowing cash.
    • You'll get 5.99% on purchases and balance transfers guaranteed for 3 years as long as you maintain your agreement status. After the three years the interest rate switches to a variable rate of Prime +3.75% on purchases and balance transfers.
    • A nice feature for balance transfers is that you do not pay a fee when you do a balance transfer. That's a cost free service


    Capital One - Gold MasterCard®; 11.99% Guaranteed for 3 Years (as long as you pay your bills on time)!

    If your credit is good but not absolutely perfect, this is the best capital one credit cards Canada is for you. It has the same features as the Smartline™ but with just a little higher interest rate.

    It's best to use this card until you make your credit rating excellent, and then you can switch over to the SmartLine™' Platinum Card.

    Apply Today! Capital One - Aspire™ Gold MasterCard®

    Doesn't Carry a Balance - Rewards Cards


    If you're a convenience user, this means that you pay off your credit cards each month. If you're paying off your balance then you should be getting more value out of your credit card usage by collecting rewards points of your choice.

    We break these categories out by if the individual spends alot each month using their cards, or a little. (Generally the marker is around $2500 per month.) If you spend less than $2500 then you would consider a different card than if you spend more than $2500 per month.

    One of the reasons for this is the cards for higher spenders come with an annual fee. You have to factor in the cost of the annual fee



    Spend More Than $2500 / Month - Rewards Cards


    Our research indicates that if you spend more than $2500 per month or more using your card, then these best capital one credit cards Canada are the best for you. With that a monthly spend of $2500 or more, you'll be able to pay off your annual fee and collect more points than you would the other cards.

    The goal here is to take advantage of Capital Ones card that offer more rewards cards points per dollar spent.

    Capital One - Cash Back Plus Platinum MasterCard® The more you spend, the more you'll save.

    The benefit with the Cash Back card is that you can redeem your points by getting a cheque or a statement credit after you have more than $15 collected in points.

    The Cash Back Plus Platinum card lets you collect points as follows:
    • For purchases up to $10,000 you get 1% cash back annually
    • For purchases between $10,000.01 and $20,000 you'll collect 1.5% cash back annually
    • For purchases over $20,000 you'll collect 2% cash back annually
    • There is no ceiling limit on points earned
    • You don't collect cash back points on balance transfers or cash advances.

    This card is best for those who want a cash back reward and not a travel reward or other gifts rewards.

    This card has an annual fee of $99 so it's recommended that you meet the minimum amount of spending (usually $2500 per month) to make up the cost of the annual fee with points collected.

    The Cash Back Platinum Plus card has an interest rate of 19.8% so it's best that you pay off your balance every month and not pay interest on this card.

    Capital One - Miles Plus Platinum MasterCard®

    The benefit with the Miles Plus card is that you can collect more points that can be redeemed against travel purchases.

    The Miles Plus Platinum MasterCard® collects points as follows:
    • You collect 2 reward miles per $1 spent on purchases
    • 25,000 bonus reward miles on your first purchase
    • You don't collect rewards miles on balance transfers or cash advances.

    The Miles Plus Platinum works different than other travel rewards cards. It's actually alot better. The amount of points you have collected to date are applied to travel purchases made.

    Example #1: You have $1,000 worth of miles points collected. You then book a flight that comes to a total of $850 including taxes and airport fees. You can apply $850 of your points against the purchase price of the ticket, taxes and airport fees.

    Example #2: You have $400 worth of miles points collected. You then book the same airline tickets for $850 including taxes and airport fees. You can apply the $400 worth of miles points collected against the $850 cost of the airline tickets.

    This is best if you like to shop first and then book your own tickets and purchase them.

    This is different from Air Miles or AeroPlan where you have to book through the Air Miles & AeroPlan agencies to get your tickets. Also... Air Miles and AeroPlan don't cover the cost of plane ticket taxes and airport fees. Capital One's Miles Platinum Plus cards do cover these costs.

    Apply Today! Capital One - Aspire™ World MasterCard®

    Spend Less Than $2500 / Month - Rewards Cards



    Capital One - Cash Back Guaranteed MasterCard® for Gas & Groceries

    I like this card for groceries purchases... People spend money for groceries each month, so why not collect cash back points each month.
    This card is best for are diligent to pay off their monthly balances.

    Here's what you get with this card:
    • On gas purchases you receive 2% cash back
    • On groceries purchases you receive 2% cash back
    • On every other purchase you receive 1% cash back
    NOTE: Annual Fee is normally $79. If you're accepted for a secured card it's $59

    Example: You spend $1500 per month on gas and groceries. By using this card, you'll receive $30 per month cash back. That adds up to $260 per year which can actually pay some of your utilities costs.

    Cash Back Platinum MasterCard® with No Hassle Rewards™

    This card is best for individuals who spend money each month and just want a cash rebate, or cash back.

    Here's what you get with this card:
    • 0.5% cash back annually on total purchases up to $3,000
    • 1% cash back annually on total purchases above $3,000
    • There is No annual fee charged
    • Redeem you cash by cheque or get a credit on your statement
    • There are NO earning caps with this card

    There is no annual fee with this card which means that all of your rebate rewards go back into your own pocket.

    Capital One - Miles Platinum MasterCard® with No Hassle Rewards™

    This card is best for people who like to travel but aren't big spenders each month.

    Here's what you get with this card:
    • You receive One reward mile for each dollar you spend
    • You'll receive 25,000 bonus reward miles when you make your first purchase
    • Your reward miles will never expire
    • Flexibility. You can redeem your points for travel, cash, merchandise or gift cards.

    Apply Today! Capital One - Gold MasterCard®; 11.9% Guaranteed for 3 Years (as long as you pay your bills on time)!

    Bad Credit – Fair, No or Limited Credit and No Credit History



    Credit cards that are presented here are those card holders who don’t have enough credit history as well as credit rating. Clients who are first time user of credit cards also would belong here. Credit cards offered in this portion are categorized into three. The categories go as follows: Secured credit cards, Carry a Balance and Don’t Carry a Balance. Check out each category and also each credit cards provide in order to know what is the best card that fits you.

    Apply Today! Capital One - Guaranteed Secured MasterCard®

    SECURED CREDIT CARDS – LOW INTEREST CARD



    Clients do have past history with their past use of credit cards. Sometimes, these clients can’t avoid of having bad credit history which could affect also the credit rating. Some are don’t have any credit history yet as they are first timers in applying for the best Capital One Credit Cards Canada. These credit cards are the key in getting a good start of building an excellent credit history again. These cards also offer less interest which means less risk for the client to be troubled in paying their balances. Compared the card benefits and pick the card that gives you much advantage.

    Capital One Low Rate Guaranteed Secured MasterCard®


    Capital One offers this card to clients who don’t have any credit or limited credit history. This is a card that allows customers to start building their credit history. One of the perks of this card is that a guaranteed approval of having the card. Another is the low interest rate it offers as well as low annual fees.

    This credit card comprises these following features:
    • Any application of the card has a guaranteed approval.
    • Master RoadAssist™, MasterCard Global Service™ and MasterCard PayPass™ are use in tap-and-go pay system that gives less hassle for the client in payment as the card don’t need to be swiped.
    • Low Interest rate of 14.9% on purchases and balance transfer that does not bring trouble to client during payment of balances.
    • The customer service is on standby 24/7 through phone or online.
    • 0$ fraud liability for any unauthorized purchases.
    • Give you the chance in building a credit history.



    CARRY A BALANCE – WITH MAXIMUM BENEFITS



    Credit user is entitled to carry a balance on their credit cards. The cards can be used to the extent of how much credit line is available for the card holder to spend. Low rate are available and is risk-free in getting into trouble of too much debt acquired. This card are for client who has bad or fair credit as well as new credit card holder who has none or limited credit. In addition, client who has bad credit history belongs in this category.

    Capital One Guaranteed MasterCard®


    This card allows the card users to experience all the benefits of having a credit card. Capital One gives the client the luxury to be able to rent a car, do shopping online or book hotel rooms. With this Capital One credit card in your hands, your credit history will not suffer but instead build up as long as you pay your bills on time. This card has a lot more to offer. Check it out below.

    Other Capital One Guaranteed MasterCard benefits:
    • Travel benefits offered: Master RoadAssistTM, MasterCard Global ServiceTM, MasterAssistTM Travel Assistance Service for client safety all the time.
    • Travel accident insurance is also given aside from the safety assistance.
    • MasterCard PayPass™ give convenience in paying bill for the card holder.
    • best capital one credit cards Canada
    • Tap-to-Go system when using the card to have less hassle from card swiping.
    • 27/7 standby customer service to phone or online.
    • $0 fraud liability for unauthorized card use.
    • The Guaranteed MasterCard® additionally protects you with purchase assurance and extended warranty for the time the client is still rebuilding the credit history.

    Apply Today! Capital One Guaranteed MasterCard®

    DON’T CARRY A BALANCE – REWARDS CARD



    Card holders under this category are considered convenience users as they used the card credit and pay them off each month when their billing statement is received. They spend less but get as many rewards points. The acquired points can then be redeeming with rewards. In addition, cash backs are given in certain percentage of the purchases made.

    Capital One Cash Back Guaranteed MasterCard® for Gas & Groceries


    For client who is seeking for a rewards card and at the same time building an excellent credit history, Capital One Cash Back Guaranteed MasterCard is the right credit card for you. This card would let you gain points to redeem specific equivalent rewards. It also provides cash back on the total purchases made using the card. Receiving cash back don’t have any limit as long as the account exists.

    More credit cards benefits listed below:
    • 2% cash back on gas payment are returned to the client and also with the groceries purchases.
    • Additional 1% cash back on all other purchase with the card.
    • $0 fraud liability on unauthorized use of the credit card.
    • Client can reach the 24/7 customer service through phone or online.
    • In redeeming rewards customer is given an option to choose if the cash back will be via statement or cheque.
    • Annual fees are reasonably fair as the company allows additional authorized user to every account.

    Apply Today! Low Rate Guaranteed MasterCard®

    SEE ALSO



    Carry A Balance Cards

    Canadian Credit Cards

    Capital One Rewards Credit Cards

    REFERENCES



    What is an Annual Fee?

    FCAC - Best Credit Cards in Canada

    Your First Credit Card - Ontario Gov't

    EXTERNAL LINKS



    Capital One Card Website

    Canadian Credit Cards - Gas Cards

    Canadian Credit Cards

    BEST CAPITAL ONE CREDIT CARDS CANADA




 
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24 Comments
On Jun 14, 2011, nwpagaloZV Said:
I have read an article about improving your credit score. I am aware that all of us want to have an excellent score. I just want to share what i have read. I am sure you will learn a lot.

Here is the page: Improve Your Credit Scores in 5 Easy Way
On Jun 14, 2011, Jean Karla Said:
Capital One has this new press release.. "Number of Canadians Concerned about Charity Fraud Up Considerably"

CanadaHelps and Capital One Canada launch the second annual charity fraud awareness quiz with $20,000 grand prize.

Read full article.Click Here!
On Jun 13, 2011, sillysimmon2k11 Said:
hey CLE32,

Without knowing everything on your bureau it is hard to say but one of the things that impacts your bureau is your credit utilization or % used even if it is relatively small. The company you use has no impact at all!
On Jun 13, 2011, CLE32 Said:
sillysimon.. did you have a card with them? I just paid off my 500$ credit card and wondering since i have no late payments ever and just few on time loans, and this credit card seems to lowering my score quickly when i was at its limit in the last 3 months.
On Jun 12, 2011, Monty Loree Said:
I did an interview with Laurel Ostfield-Public relations regarding Capital One Canada. You can watch it here:
http://www.youtube.com/watch?v=L2okHcKQLac

Laurel gives some good pointers on which cards are good, how to best use your account and some new features they're coming out with.
On Jun 11, 2011, CCHelper Said:
CLE32,
Agree with sillysimon... using Capital One will not reduce your credit score... there are many different things that will reduce your score, but the company itself won't... I would be curious to see your credit report to see what kinds of things are happening that are reducing your credit score
On Jun 11, 2011, CCHelper Said:
Roberto.... how would Capital One lower your credit score? That doesn't make sense.... the only way that card would lower your score is that your didn't make your payments on time and as agreed. I"m sorry that you've had a bad experience with them.
On Jun 11, 2011, Roberto Said:
Sorry guys but I despise CapOne as a corporate entity, but it has nothing to do with them lowering my score simply by having their card. They are just a totally insane to deal with. They lie about anything they have to just to get you not to cancel their card, then deny it all later. Every phone call to "customer service" is less about helping customers and more about what can they sell you next. Just an awful company to deal with.
On Jun 11, 2011, sillysimmon2k11 Said:
That makes no sense CLE32. Which CC company you're using has no effect on your credit score. Your score will take a hit if you're utilizing too much of your available credit, no matter what company you're with.
On Jun 10, 2011, CLE32 Said:
I read online that many people despise capitalone since it lowers your scores if you reach the limit more so than other normal credit cards. I have one for 500$ and dont carry a balance but was at its limit for few month and my score was low too because of it.

anyone have any bad experience getting credit after having this card?
this is my only card, should i close it.
On Jun 10, 2011, jonathanpaul Said:
Jason Aston.. Credit card limits are normally based on your creditworthiness. But most new cards start you out at $500 or $1K, then increase the limit over time.

Best way to get higher limits is to pay the balances in full every month. If you carry balances, it is less likely that you will be given an increase. It ain't like the old days when cards pretty much increased your limit every year, no matter what kind of balances you were carrying.
On Jun 7, 2011, jonathanpaul Said:
Capital one has a program called Credit Steps where they increase your limit every 3 months IF you qualify. You have to make your payments on time and NEVER go over your credit limit.You can call and request a credit limit increase and depending on your credit worthiness you'll get an increase or you may not.
In the mean time you should check your credit report online for free.
On Jun 7, 2011, jennyFUR Said:
I did customer service work for Capital One a few years back. We were told to tell every customer asking for a credit limit increase that "Capital One periodically reviews all of their accounts and will automatically give accounts that qualify an increase."
On Jun 6, 2011, psychcredit Said:
I’d like to get the Capital One No Hassle Cash Rewards card. I don’t have a debt problem, nor am I carrying any balances. I have always paid my balances off early. I have no current outstanding loans. I have never declared bankruptcy.

I applied for the Capital One card and was turned down. how do I make myself attractive to Capital One for their cash rewards card?
On Jun 6, 2011, Weorth Said:
There is no conversion fee, but there will be other fees - not exactly a free service. I take my Capital One MC to SE Asia as a backup to my bank's debit card. I do use it for major purchases abroad like hotel rooms. I was also forced to use it for a ATM cash withdrawal at the Seoul Airport this year - a whopping $10. charge for that service!

Always remember that not all countries have an alphanumeric keyboard on the ATMs - this was the case in Korea where I couldn't use my debit card. Always a good idea to travel with cards that have numeric PINs only! I learned the hard way.
On Jun 6, 2011, FlorenciaZina Said:
Anyone use Capital One cards for their traveling transactions?

I've been told there is 0% fee for withdraws. Is this still true on new cards? Is their currency conversion rate fair?

I'm planning on going to Cambodia, Laos, Thailand, and Myanmar not that that should affect my card choice.
On Jun 5, 2011, ABMan Said:
This video i found on youtube talks about the best Low Interest credit card from Capital One - http://www.youtube.com/watch?v=A161PoUZhOQ

A big difference between capital one and the canadian banks is that capital one is way more friendly to deal with online.. especially when it comes to applying and shopping.. the banks expect you to visit the branch and apply there...
On Jun 5, 2011, RegDiffy Said:
the best capital one credit card depends on the type of user you are... do you carry a balance? if so you need low interest credit card.

Capital One - SmartLine™ Platinum MasterCard

Do you pay off your balance each month? if so then you need a rewards card..
You need either a travel rewards card or a cash back card.

The best credit card that capital one has is completely dependent on the customer.. that's what I like about Capital One... you can apply online for their cards and they have a good competitive card for every need
On Jun 4, 2011, CardShopper Said:
I have had a Capital One card for several years and never have had any problems. Although I have heard many stories about other posters problems with them, but I have also heard some of the same stories with other issuers that I have.

To me one card is as good as the other; it all depends on what you are looking for in a credit card. Just my thoughts.
On Jun 4, 2011, YoGrandpaisFine Said:
Everyone has different experiences with each card issuer. Capital One has been very good to me. A few years back, when my credit was horrible, they gave me a credit card, with an admittedly small CL ($500), but then consistently raised that as we showed we were responsible. Yes, the card had an annual fee, but I could usually get that waived when it came up for renewal, by talking nice to customer service.
On Jun 4, 2011, whomps Said:
I just applied for a Capital One Platinum card about several weeks ago. While I was approved right away, I was only given a $500 limit. I basically built my own card through their website and elected to have the following features: 2% cash back on gas/supermarkets, 1% cash back everything else, 9.9% fixed APR, and last but not least 0% on purchases.
On Jun 3, 2011, Jean Karla Said:
That is really true. Capital One caters all type of customers' needs. With their different credit cards being offered, individuals can choose which card suit their needs. Aside from that, Capital One have great rewards, promos and freebies for the cardholders.
On Jun 3, 2011, CardShopper Said:
I like the idea that Capital One has a nice selection of different types of credit cards, They've got rewards cards, cash back cards, low interest cards... They are really tayloring their cards to meet the practical needs of the customers.
On Jun 2, 2011, Jason Aston Said:
Do you know what the highest credit limit that Capital One will give for there card? I just need to know if it will cover all of our credit cards with a big balance transfer.
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