Capital One Smart Rewards Mastercard review: points for payments

The Aspire Cash Platinum Mastercard credit card offers 1% cash back on net purchases with no annual fee.

Issued by Capital One Bank (Canada Branch), it’s designed for people who want to earn rewards without tracking spending categories or paying a yearly fee to keep the card.

In this guide, we’ll look at who the card suits, what it offers, what it costs and how to apply.

Who is the Aspire Cash Platinum Mastercard credit card for?

This card suits people who want a simple cash back card for everyday spending and prefer to avoid an annual fee.

It works best for cardholders who pay their balance in full each month. At a standard interest rate of 29.9% (21.9% in Quebec), carrying a balance can quickly cost more than the 1% cash back you earn.

The card is available to residents of Canada, and approval depends on Capital One’s credit criteria. Capital One may not approve your application if you already have a Capital One account or have applied for one of its credit products in the last 30 days.

Benefits of the credit card

Here’s a closer look at what the Aspire Cash Platinum Mastercard offers.

1% cash back on net purchases

You earn 1% cash rewards on net purchases, meaning purchases minus any credits or returns. There are no categories to track and no cap on how much you can earn.

Cash advances and balance transfers don’t earn rewards. Your cash rewards don’t expire while your account is open, and you can redeem them at any time as a statement credit through online banking or customer service.

No annual fee

The card has a $0 annual fee, so the cash back you earn isn’t offset by a yearly cost.

Protection against unauthorized use

Under Capital One’s Cardholder Agreement, you aren’t liable for unauthorized use of your card or account information, unless you’ve been grossly negligent in protecting it.

Once you report a lost or stolen card, you also aren’t liable for any unauthorized use that happens after your report.

Purchase Assurance and Extended Warranty

Most new items bought entirely with the card are protected against loss, theft or damage for 120 days from the purchase date.

Extended Warranty doubles the original manufacturer’s warranty, up to 2 additional years, on eligible items with a warranty of 5 years or less valid in Canada. Benefits from both coverages are limited to a combined $60,000 over the life of the account.

Car rental collision and loss damage waiver insurance

If you book and pay for a car rental entirely with your card and decline the rental agency’s collision/loss damage waiver, the card’s insurance covers damage to or theft of the rental vehicle, up to its actual cash value.

The coverage applies to rentals of up to 31 consecutive days. It doesn’t cover vehicles with a retail price above $65,000, trucks or third-party liability, and you must report a claim within 48 hours. Read the Certificate of Insurance before you rent to check what’s covered.

Travel accident and baggage delay insurance

When you pay the full fare with the card, you, your spouse and your dependent children are covered by Common Carrier Travel Accident Insurance of up to $250,000 while travelling on a licensed common carrier, such as an airline.

If your checked baggage is delayed for more than 4 hours, Baggage Delay Insurance reimburses essential purchases of up to $100 per day, for a maximum of 3 days.

Price protection service

If you find an identical item advertised for less in Canada within 60 days of buying it with your card, Price Protection Service may pay you the difference or buy back the item.

The price difference must be at least $10, and payments are limited to $100 per item and $500 per account per calendar year. Keep your receipts and the dated ad or flyer to make a request.

Insurance coverage and services are subject to the terms, limits and exclusions in the Certificate of Insurance provided with the card.

Main details of the card

• Card network: Mastercard;
• Use outside Canada: it can be used wherever Mastercard is accepted. Foreign currency purchases are converted to Canadian dollars at the Mastercard exchange rate, and any conversion fee is set out in the card’s Disclosure statement;
• Credit limit: set by Capital One based on your application;
• Annual fee: $0;
• Standard annual interest rate: 29.9% on purchases, balance transfers and cash advances (21.9% for Quebec residents);
• Does it accept clients with bad credit? Capital One doesn’t publish a minimum credit score for this card. Approval depends on its credit criteria and isn’t guaranteed.

Rates and fees checked on September 22, 2026, against Capital One’s Cardholder Agreement (effective September 1, 2026) and the card’s listing on Mastercard Canada. Confirm current terms on the Capital One website before applying.

Documents required to apply

Capital One doesn’t publish a list of documents for this card. Credit card applications in Canada usually ask for:

• Your full name, date of birth and address in Canada;
• Employment and income information;
• Your Social Insurance Number (SIN), which you can choose not to provide.

Capital One may also need to verify your identity before opening your account.

How to contact Capital One?

If you have questions or need support, you can reach Capital One in several ways:

• Customer service: call 1-800-481-3239 from Canada or the U.S., or call collect at 1-804-934-2010 from other countries;
• TTY services: dial 7-1-1 and connect with the relay service offered by your telecommunications provider;
• Mailing address: Capital One Customer Service, P.O. Box 503, Stn. D, Scarborough, ON M1R 5L1;
• Insurance claims and card benefits: call Assurant at 1-888-324-2363.

How to apply for the Aspire Cash Platinum Mastercard credit card?

Go to the Capital One Canada website and select the Aspire Cash Platinum Mastercard.

Before applying, you can use Capital One’s Quick Check tool to see if you’re pre-approved. Quick Check uses a soft credit inquiry, so it doesn’t affect your credit score. A hard inquiry happens only when you submit your application.

If you’re pre-approved, Capital One says it will approve your application except in limited circumstances, such as a change in your credit file or financial situation, or an existing Capital One account.

Then, fill out the online application with your personal and financial information and submit it. Capital One will review it based on its credit criteria.

Does the Aspire Cash Platinum Mastercard fit your lifestyle?

If you want a card that pays cash back on everyday spending without an annual fee, the Aspire Cash Platinum Mastercard might be a good fit, especially if you pay your balance in full each month.

It doesn’t include travel medical insurance, trip cancellation insurance or airport lounge access, and its flat 1% rate is lower than what some cards pay in specific categories.

This content is for information purposes only and does not constitute financial advice. Finvyu is not affiliated with Capital One.

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