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What is guaranteed approval?

A guaranteed secure MasterCard is one of the best ways to increase your credit and reduce the interest rate. This allows the user to completely enjoy the benefits of a credit card. This secured card will allow the holder to rent a car or book a hotel room and buy goods online using this card as it is totally secure. Hence this comes in very handy. This is possible only with Capital One secured cards which are applied in Canada.

Irrespective of the fact that these cards might belong to people who are new to Canada or might have been filed for bankruptcy or might be the first time they are applying for credit cards. This is all possible if the person holds a secured card which gives a guaranteed approval. These card holders get guaranteed approval and this is applicable for Capital One customers only. These Capital One cards that are issued in Canada give approval to its customers and help them to raise their credit. It helps them re establish their credit and makes them use it to its full benefit. This will continue as long as the customers pay their bills on time. As long as this continues the customers get guaranteed approval easily and make their lives better and easier.

A card is said to be secure when, for instance, the card falls under wrong hands, that is unauthorized users, then the card should be able to block their purchases by sensing that it is in wrong hands. In case the card is secure these purchases would not be added to the customerís bill at the end of month. In order to make a card secure the card holder should pay up an extra amount called as security funds which help in accessing the credit and also makes the card secure. When the bill is being paid these amounts are also to be paid along with it. It adds to the credit and helps the card to become secure. The security funds vary from one company to another company.

To get guaranteed approval, there exist a few conditions that ought to be satisfied. Firstly the card holder should be a major when it comes to the age of the holder at least in his residential providence. In order to get this guaranteed approval, the applicant must not have an existing account in Canada with Capital One and he should not have applied in the past 65 days for one. He also should not have had an account that was not in good standing in the past 12 months. All these conditions become very important when it comes to getting approval. One of the main conditions is that security funds should be paid on time. They can be paid as cheque or money. Without security funds approval cannot be got. It is one of the compulsory conditions that ought to be followed and there are lot more benefits available.

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