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Capital One Gold MasterCard credit card reviews

Capital One Gold MasterCard credit card details and credit card application link.

The Capital One Gold Mastercard is a great option for people who maintain a monthly balance, make an effort to save money on interest, and have an annual income of over 30, 000 Canadian dollars. The typical CapitalOne Gold Mastercard holder has good credit.

There has been a lot of talk about good credit, but what does this actually mean?

There are several requirements to meet, and then you are the likely applicant for the CapitalOne Gold Mastercard. First, the card is for people with good credit who have had a credit line, card or loan for a term of over six years. They have not experienced trouble while paying their debts back in the last seven years, and their credit status has remained the same in the past nine months. The last criterion indicates that they have not taken out a loan or credit line or opened a new credit card account. Finally, applicants have made at least the minimum payments on their credit card or other forms of credit in the past three months.

The interest rate on purchases and balance transfers is 9.9 percent. However, the interest on cash advances is 19.8 percent. The annual fee is $49 a tad hefty for some. If you prefer a card without an annual fee and would settle for slightly higher interest, a good option would be the Gold MasterCard with interest rate of 14.9 percent.

The ideal CapitalOne Gold MasterCard holder carries a monthly balance of around $2,000 and has relatively low expenses from month to month. The interest rate is fixed at 9.9 percent over the first three years, after which it becomes a variable Prime rate. Variable rates at Capital One are based on the Canadian Prime Rate.

This excellent low-rate credit card offers a variety of benefits and rewards. For example, 1 percent cash back or reward miles are compounded onto the card in exchange for an annual fee of $99. Unfortunately, your annual fee will rise to $148 if you choose this option.

As noted, you can choose either reward miles or cash back. If you opt for the former, you get 1 free mile for every dollar you spend, rebates on goods, gift cards and more, together with 5000 free miles on the first purchase you make. Alternatively, if you choose 1 percent cash back, you get checks for cash and another great deal the higher your expenses are, the more money you make!

If a low interest credit card is your preferred option, you can also check the CIBC Select Visa Card. This financial product goes with an interest rate of 11.50 percent and an annual fee of just $29. Optional features are the Emergency Travel Medical Insurance, CIBC Payment Protector, and Trip Interruption/ Cancellation Insurance. The card comes with Spend Alerts and Fraud Alerts, Identity Theft Assistance, Credit Report Alerts, Personal Spend Manager, and Enhanced Monthly Statement which helps card holders manage and track their monthly spending. In addition, clients enjoy guaranteed hotel reservations, emergency card replacement, worldwide acceptance, AVIS car rental discounts, Common Carrier Accident Insurance, up to $1000 in the form of cash advance a day, and more. The minimum credit limit is $500, and potential applicants for this card have an annual income of $15,000 or more. Clients who prefer this card may visit a local branch of CIBC, call the Credit Card Application Centre, or apply online.

Credit Card Details
NameCapital One Gold MasterCard Apply Now
Interest Rate9.99%
Annual Fee$49
Cash BackNo
Low InterestYes
Auto and GasNo
Instant ApprovalYes
Balance TransferYes
US DollarNo
No Annual FeeNo