ScotiaLine® for business Visa Credit Card (Secured) 4.6/5 $0 Prime rate (6.70%) + 1% N/A Capital One Guaranteed Secured Mastercard 3.9/5 $59 21.90%/21.90% N/A BACK TO TOP Best Credit Cards in Canada Compare the best credit cards side-by-side and find a card that will meet your...
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If you have bad credit or no credit history at all, a secured credit card can be a good way to create a positive payment history and build up your credit score.
Best secured credit card for ongoing low interest rate: Home Trust Secured Visa (low-interest option) Best secured credit card for benefits with no credit check: Capital One Guaranteed Secured Mastercard Best secured credit card for ongoing low interest rateHome Trust Secured Visa Credit recommended...
Even though secured credit cards are available to people with bad credit, and even though the security deposit reduces the risk to the issuer, approval is not guaranteed for everyone: The issuer will usually (but not always) check your credit report for signs that you're an unacceptable credit...
Secured credit cards may be a good credit card option for some people. Learn more about qualifying for a secured credit card and what to do if you’re denied.
Unlike traditional credit cards that rely on an applicant’s creditworthiness to determine the credit limit, a secured credit card offers a guaranteed credit limit that is typically equal to the amount of the deposit made. For example, if you deposit $500, your credit limit will also be $500...
Apply for the card Start byapplying for the card. Getting the card isn’t guaranteed. Your application can be turned down. Provide a security deposit Once you’re approved for a secured credit card, you’ll need to provide a security deposit equal to the credit limit on your account. For...
Beware of cards that claim to offer “guaranteed approval.” Secured cards still have eligibility requirements that must be met. Card issuers also sometimes raise your credit limit after you’ve made a certain number of on-time payments. Further, they may upgrade secured accounts to unsecured acc...
approved for a secured card before you apply. at capital one, pre-approval is quick and secure, and it won’t hurt your credit scores. but as with any credit card, getting approved for a secured card isn’t guaranteed. and even if you’re pre-approved, you still may have to go ...