Faced with the abundance of options and choices of credit cards available on the market (there are more than 75 million credit cards in circulation in the pockets of Canadian consumers), selecting the right card may seem difficult for some. Do not panic! There are several criteria to look at and when you take the time to do so, it quickly becomes possible to see clearly. In the book Knowing how to spend without feeling guilty, Stéphane Desjardins claims that more than 82% of credit card holders choose their card based on the loyalty program that accompanies it. Because it’s always fun to spend without remorse, especially if it comes with its share of rewards! What you have to do above all is to ask yourself the very simple question: “What will my credit card be used for?” »
This question is answered by your lifestyle and your purchasing habits because the card you need will vary according to your consumer profile. For example, here are some profiles launched in burst:
- You are a traveler
- You have a family
- You are tight on your finances
- You use your credit cards a lot
These are just a few sketches that may or may not apply to your situation. The important thing is to know yourself well and to be lucid as a consumer. Thus, you have to understand yourself to understand your credit card. This sentence, as inspiring as it can be for a beautiful tattoo on the lower back, remains essential when it comes time to choose your credit card. On this, we can look at the six Mastercards offered by Capital One, the range of which is quite interesting.
Now let’s get inspired by the quote below and let’s compare!
“I compare Capital One credit cards and find the right one for me. – A wise North American who has become financially comfortable enough to afford to advise others.
1. VoyagesPlus Platinum Mastercard
Let’s get started right away with the Capital One Aspire Platinum Mastercard. A few points to look at when looking for a credit card: the annual fees. These fees that are added to your bills can give you cold sweats when it comes time to settle your bills. Most of the time, travel cards come with an annual fee, because they offer perks like travel insurance and little extras. Drumming! The VoyagesPlus Platinum Mastercard has no annual fee, in addition to including in its package travel accident insurance, collision insurance, baggage delay, and travel assistance. I would even add that the card comes with a dollar back for every $100 spent. These reward miles have no expiration date or earning limit and can be used for travel and any purchases.
- 19.8% for purchases and transfers
- 21.9% for cash advances
- $1.00 rebate for every $100 purchase
- Travel accident insurance
- Travel medical insurance
- Trip cancellation insurance
- Trip interruption insurance
- flight delay insurance
- Baggage insurance
- Rental vehicle insurance
2. CashBackPlus Platinum Mastercard
Capital One offers an alternative to the Aspire Travel Platinum card, the CashBack Platinum Mastercard. If you hesitate between Mastercard Travel and Aspire, know that these two credit cards are very similar and both offer the same advantages in terms of insurance and annual fees ($0). The most important difference concerns the rewards: on each purchase amount, you receive 1% cashback. So, to recap, the CashBackPlus Platinum Mastercard has a variable cashback rate, while the Aspire Travel Platinum Mastercard has a fixed cashback rate. We opt for a variable rate when our buying tendency varies and is often at the bottom of $100 brackets.
- 19.8% for purchases and transfers
- 21.9% for cash advances
- 1% cash back per purchase
- Travel accident insurance
- Travel medical insurance
- Trip cancellation insurance
- Trip interruption insurance
- flight delay insurance
- Baggage insurance
- Rental vehicle insurance
3. Guaranteed Mastercard
You are the type to look at your finances with a sigh and say to yourself: “So I should have consulted a psychic! Or are you wondering how to build your credit effectively? Don’t panic, Capital One offers an ideal credit card to repair #regrets (past or future): the guaranteed Mastercard.
This card comes with guaranteed approval and the same assurances as to the Aspire Travel Platinum and Aspire Cash Platinum Mastercard. This card comes with an annual fee of $59 and allows you to build much better credit quite quickly. The only requirement? Use it daily and repay it! It sounds simple, yet it is the key to fixing the mistakes of the past. In less than two years, the card offers you to improve your finances and gives you the chance to improve your credit rating, allowing you to obtain better interest rates on your future loans. In other words, spend wisely, repay well and you will save in the future (that too can be an armadillo phrase).
- 19.8% for purchases and transfers
- 21.9% for cash advances
- Annual fee of $59
- Travel accident insurance
- Travel medical insurance
- Trip cancellation insurance
- Trip interruption insurance
- flight delay insurance
- Baggage insurance
- Rental vehicle insurance
4. Guaranteed Low Rate Mastercard
Another great option for someone looking to boost their credit rating is the Low Rate Guaranteed Mastercard. As its name suggests, the most profitable advantage of this card concerns its lower annual interest rate than the average, ie 14.9%. Why choose a card with lower interest rates? This Mastercard is ideal for people who have difficulty repaying their monthly loans and it limits cash advance fees in case of “I’m a little broke this month”.
Again, the Capital One Mastercard does monthly reports of your card activity. Thus, a credit assessment is carried out month by month, which allows you to get back on your feet, one month at a time. It’s a great card choice for its low-interest rate, warranty, and low balance transfer rate. Also, note that an annual fee of $79 is charged if it is a first Mastercard with Capital One, but in the case of an additional card, you can count on an exemption from these fees. You can always consult the comparative article of the best credit cards to rebuild your credit in Canada if you have more questions about low-interest rates.
- 14.9% for purchases and transfers
- 21.9% for cash advances
- Annual fee of $79
- Travel accident insurance
- Travel medical insurance
- Trip cancellation insurance
- Trip interruption insurance
- flight delay insurance
- Baggage insurance
- Rental vehicle insurance
5. Guaranteed Secure Mastercard
The final option in this category is the Guaranteed Secure Mastercard. Coming with a secure guarantee of coverage in case of unauthorized use of the card, this Mastercard also has an annual fee of $59 and enjoys an interest rate of 19.8%. This credit card is ideal for moderate daily use and allows you to plan your monthly repayments realistically. There’s also talk of the same guaranteed approval, which gives anyone unlucky in the past a chance to pat themselves on the back and say, “Let’s go my Meo.” »
- 19.8% for purchases and transfers
- 21.9% for cash advances
- Annual fee of $59
- Zero Liability Protection
- Travel accident insurance
- Travel medical insurance
- Trip cancellation insurance
- Trip interruption insurance
- flight delay insurance
- Baggage insurance
- Rental vehicle insurance
6. Capital One Mastercard, exclusive for Costco members
Last but not least the cashback card is exclusively for Costco members. With this card, we start talking about very good rewards. Oh yes! The Mastercard can give back up to 3% back on purchases, broken down as follows: 3% back on restaurant purchases (not just Costco hot dogs); 2% discount on gasoline purchases (it’s time to clink the Marjo pick-up); and on average 0.5% on purchases (you get the 1% discount when you exceed the 3000% threshold for the same invoice). Note that you must be a Costco member to benefit from this card with attractive discounts which are given by check the following year, but that you can use the card wherever the Mastercard card is authorized. One can also replace his Costco subscription card with this Mastercard to enter the department store.
With a reasonable interest rate of 19.75%, this Mastercard is a very good choice for the consumer who wants to spend smartly. We are also talking about $0 annual fees and the same guaranteed insurance as the cards in the Capital One range. To explore the benefits of this card in more depth, check out the article about it.
- 19.75% for purchases and transfers
- 19.75% for cash advances
- Annual fee $0
- Up to 3% cashback on purchase
- Travel accident insurance
- Travel medical insurance
- Trip cancellation insurance
- Trip interruption insurance
- flight delay insurance
- Baggage insurance
- Rental vehicle insurance
That goes around the 6 credit cards from Capital One.
It is therefore by comparing that we cajole ourselves and that we can truly manage to find the credit card that corresponds to our needs as a consumer. We always like to remind you that it is important to choose a card according to your payment habits, to evaluate the range of rewards according to the type of savings you want to take advantage of, and above all to settle your accounts every month. . Because, although they leave the impression, like RedBull, of giving wings, credit cards can quickly become our worst nightmare, which is why it is wise to use them in a reasonable, intelligent way, but above all without complex! Do you have questions about how refunds work?
Consult the credit card payment calculator offered by the government, or even compare credit cards with each other, thanks to the Hardbacon tool.
This article was compiled by Hardbacon, who built a credit card comparator listing dozens of Canadian online brokers. Hardbacon also lets you save on savings accounts, checking accounts, online brokers, Robo-advisors, life insurance policies, mortgages, and personal loans. If you want to go further and take control of your finances, you should download Hardbacon’s mobile app, which connects to your bank and investment accounts, helps you plan according to your financial goals, make a budget, and invest better.