Top features at a glance: Guaranteed credit card approval Establish or repair your credit Zero Liability protection, so you won't be held responsible for unauthorized use of your card
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Priority airport services
No
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Airport lounge access
No
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Concierge service
No
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Balance protection(Optional)
No
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Purchase Security & Extended Protection Insurance
Yes
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Flight delay insurance,Baggage Insurance
Yes
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Vehicule rental insurance
Yes
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Travel accident insurance
Yes
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Travel medical insurance
Yes
- Annual Fee: $59
- Additional Card Fee: $0
- Purchases Interest Rate: 19.8%
- Cash Advance Interest Rate: 21.9%
- You're a Canadian resident
- You've reached the age of majority in your province or territory
Price Protection Service Purchase Assurance Extended Warranty
Travel Benefits:
Common Carrier Travel Accident Insurance
Car Rental Collision/Loss Damage Waiver
Baggage Delay Travel Assistance
The Guaranteed Mastercard from Capital One is a unique and exciting product. This card offers guaranteed approval for applicants who meet some basic criteria. This card carries an annual fee of $59 and an annual interest rate of 19.8% on purchases, balance transfers, and cash advances.
This card's main feature is guaranteed approval, provided the applicants meets four basic criteria. Those criteria are (1) the applicant has reached the age of majority in his or her province or territory; (2) the applicant has not applied for a different Capital One account in the 30 days preceding the application for this card; (3) the applicant does not have an existing Capital One account; and (4) the applicant has not had a delinquent Capital One account in the year preceding the application for this card. Provided an applicant meets these four basic criteria, he or she is guaranteed to be approved for this credit card, regardless of his or her credit history or current credit score. Additional benefits include price assurance, purchase protection, extended warranties, a suite of travel insurance products, and zero-liability fraud protection.
The bottom line: The Capital One Guaranteed Mastercard is the perfect card for Canadians seeking to repair their credit. Using a credit card responsibly is one of the most effective ways to improve one's credit score and overall credit history. But it can be quite difficult to get a credit card in the first place for consumers with less than perfect credit. This card recognizes that consumers are more than just a number on their credit reports. We recommend the Capital One Guaranteed Mastercard for any Canadian looking to either establish a credit history or repair their credit. Doing so can go a long way toward setting oneself up for financial success in the future.
Refresh Financial's Secured Visa Card helps you establish and rebuild your credit and improve your credit score.
Anyone with little or no credit, bankruptcy and consumer proposals can apply.
All you need is a security deposit to get approved. As you use your card and make monthly payments on time, they are reported to the credit bureaus and this builds your credit score.
The Refresh Financial Secured Card combines the premise of the credit builder loan with the same benefits of a credit card. In this case, you are almost guaranteed approval, which cannot be said for other types of secured credit cards. So while it does work like any other credit card, the main difference is that you have to place a security deposit on the card. This works better for many people compared to the credit builder loan as it allows you to use the credit available on the card. It’s an excellent option if you have bad credit and want a card to make online purchases or say secure a hotel room.
The minimum deposit is $200 which is also a bonus as many other secured cards require $500. You can also slowly increase your deposit which in turn increases your credit limit to up to $10,000. However, for the secured credit card you have to also consider the fees. While the interest rate is lower at 17.99% compared to the 19.99% of the credit builder loan, you also have to pay out the following:
- An annual fee of $12.95
- A monthly fee of $3
- $0.10 for every declined transaction
- $5 fee to use an ATM/ cash advance
- A monthly inactivity fee of $2 for every month that you don’t use your card
As far as secured credit cards go, this one tends to come out ahead. It is ideal if you need access to a credit card, can afford the security deposit and intend to pay it back in a timely manner.
No Fee Home Trust Secured Visa Card Review
The best way to get the credit you deserve.The application process is very simple and almost everybody is approved!
Build or re-build your credit, even if you’ve had credit difficulties in the past,
or have never had a credit card before! An excellent opportunity to establish your credit rating.
Get all the benefits of Visa* while re-building your credit:
- Make purchases over the phone or online
- Plan and book a vacation
- Access cash anytime, anywhere from over 1 million ATMs around the world displaying the Visa or Plus logo
- Shop at over 24 million locations worldwide
The Home Trust Secured Visa Card is a credit card that requires a security
deposit for eligibility. Your credit limit is then set at the amount of the
deposit. You can put down as little as $500, or as much as $10,000
The Home Trust Secured Visa Card is not available to residents of Quebec.
Plastk Secured Visa Credit Card Review
The newest and best way to build your credit and get rewarded for it.
Special Offer: Receive 0% Interest Rate on purchases for the first 3 months when you sign up for Plastk Secured Credit Card.
Card Features:
- 17.99% interest rate (which is one of the lowest in the secured credit card market)
- 25-day grace period with no interest
- Free monthly credit score, powered by Equifax*
- Zero Fraud Liability to ease your mind
- Instant Balance Payment via Interac
- APR on cash advance: 21.99%
- Foreign Transaction Fee: 3.50%
- Minimum Age: Age of majority in province/territory of residence
- Minimum Deposit required for approval: $300
- $6 Monthly Maintenance fee
Card Benefits:
- Welcome bonus: new Customers get 5000 Rewards Points - $20 redeemable after 3 months*
- Plastk Reward Points on everyday purchases
- Quick and easy application process
- Simple way to pay
- Cash advances
- Worldwide acceptance
- Accepted at hotels and car rentals
- Easy access to premium rewards
- Helps improve credit score and knowledge
* Cardholder has to be in good standing, reward points redeemable after 3 months
Plastk Secured Credit Card is available all across Canada except Quebec.
Plastk Cash Advances:
You can now send money from your Plastk card to any Canadian credit or debit card, Canadian bank account or Plastk cardholder. There is a fee of $5 for each cash advance.
*Please note, you can send a MAXIMUM of $250 in a single transfer or $500 in a day. If your available limit is LESS than $250, you will only be able to send up to that limit. Available account funds will be shown in your account.
Author Bio
Mohamed Konate is a personal finance expert, blogger, and marketing consultant based out of Toronto. He is a former financial services professional who worked for many years at major Canadian financial institutions where he managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor in Business Administration from the University of Quebec (Montreal) and a Master in International Business from the University of Sherbrooke (Quebec).He is also the author of the Canadian Credit Card Guidebook.
