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Credit is an important tool these days. It comes in handy in an emergency but it can also make it easier for you to buy the things that you want and need, particularly things that you likely won’t be able to pay for with straight cash. A good credit card, then, is a must.
Whether you are new to credit cards or you have had some difficulty in the past, a Gold Plus MasterCard from Capital One could help you. It is designed to reward you for responsible credit management as well as provide many of the most common MasterCard features you will. Combined, it is a convenient and efficient alternative to cash and a powerful tool for helping you establish the credit you need for the future.
The Interest Rate Structure
The most interesting and attractive aspect of this Capital One Gold Plus MasterCard credit card is the fact that the interest rate shrinks every year as long as you stay in good standing. Basically, if you just make the minimum payment on time every month you will notice that your interest rate decreases every year for two years. By the third year of opening this account, you could be saving nearly one-third on interest, just for making the minimum payment. By that time, you should be able to structure your payments so that you can afford to pay more and create some flexibility in your budget. The standard rate is somewhat decent to begin with so this ability is definitely something worth looking into.
Everday Gold Benefits
If you have never had a Gold card before, this is certainly one that you should consider. Not only could you save money and establish a responsible credit history with an interest rate that decreases, but you will also be able to take advantage of Gold benefits. This includes several consumer protection covers and travel benefits that could be of good use to you in your everyday life as long as you charge the full cost of new purchases to your credit card.
- Price Protection insures you against price changes of up to $100 if any item purchased within Canada is advertised at a lower price within 60 days of purchase, regardless of the retailer
- Purchase Assurance automatically insures what you buy against theft, loss, or damage, within 120 days of purchase
- Extended Warranty automatically doubles any original manufacturer’s warranty for up to two years
- Travel Accident Insurance covers you for as much as $250,000 of automatic travel insurance for you, your spouse, and dependents when you book your vacation or travel arrangements using your MasterCard
- Car Rental Collision/Loss Damage Waiver provides you rental car insurance that is probably cheaper than what the rental agency will offer you
- Baggage Delay provides some money for needed toiletries and other essential items for up to three days if your baggage is delayed more than four hours from arrival at your final destination
- MasterAssist Travel Assistance is available 24 hours a day to aid you with information and assistance finding emergency medical care, emergency cash transfers, lost documents, lost luggage, ticket replacement, legal referrals, and any of the many other contingencies you may face while travelling with your family
Basic Mastercard Benefits
Of course, because this Capital One credit card bears the MasterCard symbol, you will also be able to take advantage of exclusive MasterCard benefits as well. These benefits are available to all MasterCard customers at the basic level, but are definitely winning characteristics.
- $0 Fraud Liability is one of the most important benefits you can have as it protects you from fraud and identity theft. In the event that someone tries to use your card or account information you will not be held responsible for unauthorized purchases.
- Master Global Services is available to help you with a variety of customer, general consumer, and other needs no matter where you are in the world, 24 hours a day
- Master RoadAssist Service provides 24 hour roadside assistance whether you need help at home or on your travels
Taking advantage of an interest rate that shrinks every year is not something you will find offered by many credit card products. However, that’s exactly what you will find here, along with the most popular and competitive benefits offered by other Gold MasterCard products.
- Tangerine® Money Back Card CIBC Air Canada® AC conversion™ Visa Prepaid Card Scotiabank American Express Gold Card
- No-Fee Scotia Momentum® VISA® Card Scotiabank® More Rewards VISA® Card Scotiabank® GM® VISA® Card
- ScotiaGold Passport® VISA® Card Scotia Momentum® VISA® Infinite Card Scotiabank American Express Card