Plastk Secured Credit Card Reviews, 2023: Visa Secured Credit Card, Canada ($20 Bonus)

Everyone who’s hit that rock bottom of a bad credit score or is just starting their financial growth journey knows it’s not pretty.

It can be exhausting not knowing how to fix your credit score problem.


But with the advent of secured credit cards like the Plastk Secured Credit Card, you can get back on your feet financially.

In this Plastk secured credit card review, we’ll review one of the leading secured credit cards in Canada. 

You’ll learn everything you should know about this Visa secured credit card, what to expect with the application process and if it is the best-secured credit card for your needs.

About Plastk Financial Inc.

If you’re wondering what the origin of this secured credit card is, here’s a sneak peek.

The Plastk Secured Credit Card is a product of Plastk Financial Inc., a Canadian fintech. 

They began operations in 2019 to make it easy for people with bad or no credit to get a credit card in Canada.

So, next time you want to get into the emotional spiral of feeling hopeless about getting a credit card, remember that Plastk Financial has got you covered.

Guess what? They are Vancouver Canucks’ partners.

Plastk Financial Products

Plastk Financial currently has two products – Plastk Secured Credit Card and Plastk Sentinel.

1. Plastk Secured Credit Card

✅ Perks: Premium Rewards
✅ Guaranteed Approval
✅ Welcome Bonus: 5,000 bonus reward points ($20 value) and 0% APR for the first 3 months
✅ Interest Rate: 17.99% (one of the lowest in the secured credit card market)
✅ Credit Check: No

Newcomers can build credit scores from scratch. People with bad credit also have the opportunity to rebuild their credit scores. 

Newsflash, the plastk secured credit card, is the first secured card in Canada that is loaded with benefits and premium rewards. In other words, aside from building or boosting your credit score, this card rewards you. 

You’ll get 1 point per dollar you spend with this card. As the points accumulate, you can redeem your reward points for:

  • Travel Rewards
  • Gift Cards
  • Charity Donations
  • Exclusive Events
  • Merchandise
  • Statement Credits (Cash-back)

2. Plastk Sentinel


I want to guess that the reason you are reading this article is to learn more about the Plastk Secured Credit Card, correct? Let’s dive into the details of the Plastk Secured Visa Card!

In-Depth Review of the Plastk Secured Visa Credit Card


Key Features of the Plastk Card

Special Welcome Offer0% APR for the first 3 months
Sign-up Bonus5,000 reward points
Annual Fee$48
Monthly Maintenance Fee$6
Purchase Interest Rate17.99 %
Cash Advance Interest Rate21.99%
Grace Period3 days on cash advance

What Do You stand to Gain with the Plastk Secured Visa Card? Improve Your Credit Score and More!

1. Credit Building

The main purpose of this card is to help you build a credit score.

Typically, people with bad credit scores or no credit score may have no chance of getting a regular credit card. However, Plastk Financial changed the narrative with this card. 

You can build credit scores with this card. Making prompt payments and missing no payments helps to boost your credit score. Plastk Financial will send your credit report to the credit bureau – Equifax. A consistently good report increases your credit score.

2. Guaranteed Approval

Are you looking for a credit card but worried about your bad credit score? Well, don’t be. With the Plastk Secured Credit Card, you get guaranteed approval as long as you have the security deposit for the credit limit that you want.

3. Sign up Bonus


The first enticing feature of this Plastk secured credit card is the bonus it offers.

Once you sign up for the card, you’ll get 5,000 reward points. The points are equivalent to $20, which you can redeem after 3 months.

4. Low-Interest

For the first 3 months of using the card, you’ll get a special offer of 0% Annual Percentage Rate (APR).

Then, if you keep carrying a balance on your credit card, you’ll continue to pay only 17.99% APR yearly, which is one of the lowest in the secured credit card industry.

Keep in mind that missing your repayment twice means you would have to pay 29.99% interest.

5. Interest-Free Grace Period

With the Plastk Secured Visa Credit card, you get 3 days interest-free grace period on cash advances and 25 days grace period with no interest on purchases.

6. Premium Rewards


The Plastk Secured Credit Card is better than most secured credit cards in Canada because it comes with a premium rewards program.

So not only will you be building your credit, but you’ll also be earning rewards that can be used for travel, merchandise, statement credits, and more. It’s the best of both worlds!

The Plastk Secured Credit Card also comes with credit insights that give you the tools you need to manage your credit effectively.

Cons of the Plastk Secured Visa Card 

1. Security Deposit

Unlike regular credit cards, you have to deposit an amount of money in order to be able to get a secured credit card. This deposit is called a “security deposit.” 

Your security deposit dictates the amount of credit you’ll be given. The security deposits (and likewise the credit limit) range from $300 to $10,000. The minimum deposit required for approval is $300.

2. Foreign Transaction Fee

Although you’ll have access to fantastic perks and cashback rewards, this card has a high foreign transaction fee compared to other alternatives. 

While other secured credit cards have a foreign transaction fee of 2.5%, this secured credit card offers a 3.5% foreign transaction fee. 

3. Missed Payment Penalty

If you miss payments twice on your Plastk secured credit card, you will forfeit the low-interest rate of 17.99%. Your interest rate will be bumped up to 29.99%.

Who is Eligible for the Plastk Secured Credit Card?

To be eligible for the Plastk Visa Credit Card, you must:

  • Be a Canadian citizen or a legal resident of Canada
  • Be of the age of majority in your province or territory of residence
  • Have a minimum security deposit of $300

How to Apply for the Plastk Secured Credit Card

Applying for a Plastk Secured Visa Card is easy

  • Fill out an online application form with your personal details, such as your name, residential address, date of birth, social insurance number (SIN) and email address.
  • Then, review and submit your application.
  • The last step is to send your security deposit to Plastk via eTransfer.

Once you’ve made your deposit and your application is approved, you’ll be on your way to building or rebuilding your credit with the Plastk Secured Visa Card.

That’s it! Not only is the application process simple, but Plastk also offers 0% APR for the first 3 months and 5,000 sign-up bonus rewards.

So why wait? Apply today!

FAQs: Plastk Secured Credit Card

Who is Plastk Financial?

Plastk Financial is a Canadian FinTech company that specializes in helping people start or restore their credit ratings. In essence, if you have a bad credit score or no credit score, Plastk Financial products – Plastk Secured Credit Card and Plastk Sentinel – can help. 

How Much Credit Does a Secured Card Give You?

With a secured card, you can control how much credit you can get. All you need to do is deposit an amount, referred to as a “security deposit.” The amount you deposit becomes your credit limit.

Usually, the secured amount you’ll be required to deposit to get a secured credit card ranges from $100- $10,000. 

What Is the Highest Limit on a Secured Credit Card?

The highest limit on a secured credit card depends on the financial institution you’re getting it from. For some financial institutions, the highest credit limit could be set at $2,000. Others could set theirs at $5,000. Generally, the highest limit on a secured credit card is $10,000. 

What is Plastk Credit Card Limit

The Plastk secured credit card limit is between $300 to $10,000 Canadian dollars.

Will a Secured Credit Card Raise My Credit Score?

Yes, a secured credit card (like the Plastk Secured Credit Card) will help you increase your credit score. As you borrow and return what you owe, it goes into your credit report – Equifax. If you pay promptly, it will boost your credit score. In no time, you’ll be able to get a regular credit card or any other credit product, for that matter. 

Is Plastk Credit Card Legit?

Yes, Plastk Visa Credit Card is legit. It is one of the products of Plastk Financial – a reliable Fintech company in Canada. Plastk was founded in 2019 by Motola (Mo) Omobamiduro.

What is Plastk Customer Service Number?

Plastk customer service number is 1-855-485-0102. You may also contact Plastk customer service via email

Final Thoughts: Plastk Secured Credit Card


If you’re looking for a credit card that offers premium rewards and low-interest rates, you can’t go wrong with the Plastk Secured Credit Card.

With this card, you’ll earn points that can be redeemed for cash back, gift cards, travel rewards, and more. Plus, you’ll enjoy a low annual fee and a free monthly Equifax credit score. So what are you waiting for? Apply today!

The Plastk Secured Visa Card is one of the many good ways in Canada to boost your credit score.


Charity (Charee) Oisamoje is the founder of TheFinanceKey - TFK. She leads the editorial team, which is comprised of subject-matter experts.

Her professional competencies and expertise make her qualified on this topic. She is an expert at collecting details, verifying facts, and making complex subjects easy to understand.

Backed by Solid Credentials: ✔️MBA in Finance ✔️Canadian Investment Funds (IFIC) Graduate ✔️Masters Degree in International Business ✔️Chartered Professional Accountant (CPA) Candidate ✔️Chartered Insurance Professional (CIP) ✔️BSc Accounting

Learn More >> About Page

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