Top-Rated Secured Credit Cards Canada (Updated September 2023)
Start building strong credit with the top secured credit cards currently available in Canada. TheFinanceKey has reviewed and rated the best-secured credit cards in Canada to help get you on track to future financial security.
Apply online for a quick, easy, and seamless application process. Perfect for all credit histories and backgrounds. A bankruptcy or consumer proposal will not cause you to be declined.
1. Neo
(1,062 Reviews)
● Guaranteed & Instant Approval regardless of bad or no credit score
● Requires no hard credit check to apply
● No monthly or annual fee
● 15% cashback welcome bonus ($25 value) with ongoing unlimited 5% cashback
● Credit limit: $50-$10,000
● New To Credit or Bad Credit? No Problem!
● Build credit with a Mastercard designed for those who need a fresh start
● Reports monthly to the Canadian Credit Bureau – Transunion
Outstanding
2. Plastk
(1,469 Reviews)
● Guaranteed approval with no credit check or minimum credit score
● 5,000 welcome bonus rewards ($20 value) with ongoing premium rewards
● Credit limit: $300-$10,000
● Free monthly Equifax credit score and credit education (videos, blogs, podcast)
● Card is accepted worldwide, including at hotels and car rentals
● 0% APR for the first 3 months
● 3 days interest-free grace period on cash advance
● Plastk Sentinel includes free real-time access to your credit score & ongoing monitoring
● Reports monthly to the Canadian Credit Bureau – Equifax
Excellent
3. Refresh
(2,169 Reviews)
● Guaranteed approval involves no minimum score or credit check
● Credit limit: $200-$10,000
● No cash advance fee
● Financial Intelligence Training (FIT) for money management
● Monthly reporting to all 2 Major Credit Bureaus to establish credit history
● Offers both a secured card and credit builder loan
● UPDATE: The Refresh Secured Card is no longer offered by Refresh Financial. Apply for the Neo Secured Card or Plastk Secured Card instead.
Excellent
Overall Best Secured Credit Card, Canada
1. Neo
(1,062 Reviews)
● Guaranteed & Instant Approval regardless of bad or no credit score
● Requires no hard credit check to apply
● No monthly or annual fee
● 15% cashback welcome bonus ($25 value) with ongoing unlimited 5% cashback
● Credit limit: $50-$10,000
● New to Credit or Bad Credit? No Problem!
● Build credit with a Mastercard designed for those who need a fresh start
● Reports monthly to the Canadian Credit Bureau – Transunion
