Secured Credit Card Canada

What is a Secured Credit Card?

Credit Cards Bankruptcies Canada: When a person goes into bankruptcy he has to hand in all his credit cards to the trustee. After that person has been discharged from bankruptcy, he or she is often a good credit risk, since that person has no debt.  Getting a secured credit card is a good way to get a credit card immediately and to help rebuild credit.
Regardless, a discharged bankrupt who has received their bankruptcy discharge in the recent past often has a difficult time getting a new credit card.

Secured Canadian Credit Cards Canada:

An option is to acquire a “secured credit card”. A “secured credit card” is a card backed-up or secured by funds you have deposited with the financial institution. The card looks like a credit card, and acts like a credit card but will have a limit depending on the amount of money that secures the card.

You can start rebuilding your credit rating and improve your credit score if you use a credit card that is secured.

When you use a secured credit card the credit company Peoples Trust will report the payments you make each month which helps rebuild your credit as you make regular payments over time.

   Secured Canadian Credit Cards Canada Application Form   Formulaire D’application

    Card Features available here