Secured Credit Cards in Canada are a integral tool for new immigrants, students and people with bad credit to build or rebuild their credit history. A secured credit card can be easily got by sending a cash deposit for the desired credit limit. All your credit card activity is submitted to the credit bureaus which help you build your credit. Compare the secured credit cards below and apply for a credit card using our secure online credit card application.
|Use our secure online credit card application to get your Canadian Credit Card today.|
Benefits for a Secured Credit Cards Canada
The major benefits for applying for a secured credit cards are:
- No credit history checks so guaranteed credit card approval with a cash deposit.
- All secured credit card activity is reported to the credit bureaus.
- Build and/or rebuild you credit history.
- Regular credit limit increases with regular on-time monthly payments.
Secured Credit Cards for New Immigrants in Canada
One of the important aspects of adapting and integrating in the Canadian culture and lifestyle is to build their credit. New Immigrants in Canada need to build their credit history to get eligible to get a mortgage, a car loan, personal loans, etc. The most popular and convenient method of building their credit is using a credit card.
The only credit card that a New Immigrant can be approved for is a secured credit card. Secured credit cards in Canada doesn’t require the applicant to have a credit history. A person could send a small deposit amount to the bank and they would approve a secure credit card for the same amount. All transactions and balance history from the secured credit card is reported to the credit bureaus. This helps new immigrants to build their credit history.
If you are a new immigrant or trying to rebuild your credit, apply for a secured credit card Canada today. Capital One secured credit card is one of most popular secured credit cards.