What is Capital One Company?
Capital One Financial Corporation is a bank-holding company that is based in the USA. It specializes in credit cards, home mortgage, auto loans, banking and savings products.
This article discusses briefly the history of Capital One in Canada, Capital One credit cards and the guaranteed approval and credit classic cards.
What are the Beginnings of Capital One in Canada?
Capital One was established in the United States in 1988. However, it was only after eight years, that Capital One set up its office in Toronto, Ontario. However, the branch in Canada just provides credit card products and has not diversified into other financial services like its parent company in the U.S. Still Capital One Canada remains as one of the top employers in Canada as listed by Media Corp Canada. It is also proud to be among the prestigious Fortune 500 firms. There are three different levels of credit cards available in Canada. These are Guaranteed, Classic and Premium cards that carry the MasterCard logo.
What are the Capital One Credit Cards?
Capital One Canada has emerged as one of the leaders in the credit card market. It features competitive credit card terms and a variety of cards that consumers can choose from. In fact, credit card holders can enjoy some of the best rewards programs and rates. They can select from among the premium, classic, and guaranteed cards which are suited for persons with different requirements and lifestyles. Clients of Capital One can choose from low interest rate credit cards, reward credit cards, business credit cards, and guaranteed credit cards.
Incidentally, the Capital One Financial Corporation website states that their company is an international financial services company known for innovation in the credit card marketplace. The company pioneered low introductory rate, balance transfer and fixed rate products in North America. Capital One offers consumers a range of competitive Canadian credit cards since 1996, when the company introduced the first Platinum Master Card in this market. As a Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 500 Index.
What are guaranteed approval and classic rewards credit cards?
The creditcardreview.com says there are five different levels of guaranteed Capital One Canada credit card products in Canada. These include both secured and non-secured levels of establishing or reestablishing credit. The average yearly fees range from $59 to $79. On the other hand, interest rates vary from 14.9% on purchases and transfers (from other credit card companies) to 19.8%.
Each card has relatively different features which makes it possible for anyone with or without positive credit history to qualify for a Capital One Canada MasterCard. However, some of the guaranteed cards do have income requirements.
The Classic Rewards Credit Cards are Gold Master cards with different. There are no annual membership fees and the interest rate is 19.8% on purchases, transfers and cash advances. To qualify for a Gold series card your household income must be at least $30,000 annually. Likewise, you should have owned a Canadian credit card for at least two years.
The Premium Rewards Credit Cards have three different categories. You should have an annual Income of at least $40,000 and owned a credit card in Canada for at least three years. Capital One has become a reputable name throughout North America and the United Kingdom.
Distinct Global Reputation
Capital One has earned a prestigious reputation both in the United States and North America, specifically in Canada. Notwithstanding the proliferation of many credit card companies in the country, the features and benefits have set Capital One products apart from its competitors.
A recent published comment about Capital One credit cards declared that: “Capital One credit card has got one major benefit and that is the lack of an international transaction fee. If you travel outside the United States often then you will realize that this is a huge selling point, it is due to the reason that the foreign conversion fee charged by all other card issuers can get quite expensive. Their card lab can also be really very helpful to you, as without settling for a generic credit card you cannot make the exact choice of what you need or want for yourself.”