SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                  ------------


                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


Date of Report (Date of earliest event reported) October 18, 2001.

                                Capital One Bank
                -------------------------------------------------
            (Originator and Servicer of the Capital One Master Trust)
                                on behalf of the
                            Capital One Master Trust
            --------------------------------------------------------
            (Exact name of registrant as specified in its charter)



           Virginia                          0-23750                              54-1719855
--------------------------------    --------------------------       -------------------------------------
                                                              
(State or Other Jurisdiction of      (Commission File Number)         (IRS Employer Identification Number)
Incorporation)


              11013 West Broad Street
              Glenn Allen, Virginia                       23060
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    (Address of Principal Executive Office)            (Zip Code)



Registrant's telephone number, including area code (804) 967-1000



                                       N/A
          -------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)




INFORMATION TO BE INCLUDED IN THE REPORT

Item 1.           Not Applicable.

Item 2.           Not Applicable.

Item 3.           Not Applicable.

Item 4.           Not Applicable.

Item 5.           On October 18, 2001 the Capital One Master Trust issued its
                  Class A 3.85% Asset Backed Certificates, Series 2001-7 and its
                  Class B Floating Rate Asset Backed Certificates, Series
                  2001-7.

Item 6.           Not Applicable.

Item 7.           Exhibits.

                  The following is filed as Exhibits to this Report under
                  Exhibit 4.1.

         Exhibit 4.1 Series 2001-7 Supplement dated October 18, 2001.

Item 8.           Not Applicable.





                                   SIGNATURES

                  Pursuant to the requirements of the Securities Exchange Act of
1934, the Capital One Bank as Servicer of and on behalf of the Capital One
Master Trust has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                       CAPITAL ONE MASTER TRUST

                                       By: CAPITAL ONE BANK,
                                           as Servicer

                                       By:    /s/ Bonnie A. Seideman
                                              ----------------------
                                       Name:  Bonnie A. Seideman
                                       Title: Manager of Securitization


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                                  EXHIBIT INDEX


Exhibit                             Description
-------                             -----------

4.1               Series 2001-7 Supplement dated October 18, 2001.


                                       4