Secured credit cards are great for people looking to build or rebuild credit and are available to people with all kinds of credit backgrounds. They can also be great for immigrants who are new to Canada.
There are plenty of secured credit card varieties out there. When applying, please check the terms and conditions. There may be other fees added such as a maintenance fee and annual fee. On some cards, you may pay a higher interest rate but will get approved faster.
The most important is to start somewhere – to get approved for a secured credit card. If you use secured credit cards wisely, your credit score will start to improve since the borrower reports your payment activity to one or both Canadian credit bureaus on a regular basis. Of course, there are additional steps that we recommend to take when rebuilding a credit. When there is a plan in place, a positive outcome is guaranteed.
Based on our review, we would suggest to consider the following secured credit cards:
Our Credit Counselors with confidence and in a reasonable time period will be happy to re-establish your credit rating! Please contact us for more information.
We offer FREE, confidential, and no-obligation consultation!
Best Regards,
Canadian Debt Advisors
