Prepaid/Secured/Charge Cards

The following credit cards require you to prepay offering you the security of a bank card with the convenience of a credit card. They help you rebuild your credit rating if you've had past financial difficulties. You can apply for these credit cards online by following the Apply Now link. All of these cards are available in Canada.

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Capital One® Guaranteed Secured MasterCard® Apply Now

Capital One® Guaranteed Secured MasterCard®

Interest on:

Annual Fee

$59

Purchases

19.80%

Cash Advances

19.80%

Balance Transfers

19.80%

  • Guaranteed access to credit
  • May help you establish or re-establish your credit history
  • Security funds required

Desjardins VISA® - Platinum Apply Now

Desjardins VISA® - Platinum

Interest on:

Annual Fee

$169

Purchases

9.90%

Cash Advances

9.90%

Balance Transfers

9.90%

  • Up to 2% of your purchases in BONUSDOLLARS
  • Annual cashback of 1% on your purchases
  • Comprehensive travel insurance
  • Accord D Desjardins financing, a second, separate credit limit
  • Cash advances up to $5,000 a day, anywhere in the world

More information about the Desjardins VISA® - Platinum

Home Trust Equityline VISA® Card Apply Now

Home Trust Equityline VISA® Card

Interest on:

Annual Fee

$01

Purchases

n/a2

Cash Advances

n/a3

Balance Transfers

n/a4

  • Use the equity in your home to secure a credit limit of up to $250,000
  • Monthly payments as low as 0.75%, 1%, 1.25% or 1.5% of your outstanding balance or $10, whichever is greater
  • Make additional payments at any time without penalty
  • Competitive interest rates of 4.99%, 5.99%, 6.99%, 7.99%, 8.99%, 9.99%, 10.99%, 11.99% or 13.99%. The annual credit rate in Québec is 9.99%, 10.99%, 11.99% or 13.99%
  • Only pay interest on the credit you have used
  • No annual fees in all provinces except Québec

Notes:
  1. $100 in Quebec.
  2. Competitive interest rates of 4.99%, 5.99%, 6.99%, 7.99%, 8.99%, 9.99%, 10.99%, 11.99% or 13.99%.
  3. Interest rate not mentioned on website.
  4. Interest rate not mentioned on website.
More information about the Home Trust Equityline VISA® Card

Home Trust Secured Visa® Card Apply Now

Home Trust Secured Visa® Card

Interest on:

Annual Fee

$49

Purchases

19.99%

Cash Advances

19.99%

Balance Transfers

n/a1

  • Requires a security deposit for eligibility. Credit limit is then set at the amount of the deposit. You can put down as little as $1,000, or as much as $10,000
  • To cancel your card, just pay off your outstanding balance, and you'll get your security deposit back from Home Trust
  • Virtually everyone is approved

Notes:
  1. Interest rate not mentioned on website.
More information about the Home Trust Secured Visa® Card

Peoples Trust MasterCard Apply Now

Peoples Trust MasterCard

Interest on:

Annual Fee

$701

Purchases

12.99%

Cash Advances

24.50%

Balance Transfers

0.00%

    Secured cards are an excellent way to establish a positive credit history and are designed especially for people with no credit history, or who have experienced past credit problems.

    The Peoples Trust Secured MasterCard® looks and works just like any other MasterCard; only the customer and Peoples Trust will know that the card is secured. The only difference is that a security deposit is required (a minimum of CAD $500.00 to a maximum of CAD $25,000.00) to open a Secured MasterCard account. Peoples Trust will place the deposit in a GIC account (eligible for CDIC insurance) which will serve as collateral for the Secured Credit Card.

    The applicant will then receive a Peoples Trust MasterCard credit card with a limit equal to 100% of the security deposit.

    Peoples Trust reports the customer’s payment history monthly to both Equifax and Trans Union, helping customers improve their credit rating. By using the card responsibly and making payments on time every month, Peoples Trust Secured Card customers can soon discover the benefits of building a positive credit profile!

Notes:
  1. ($5.80/month; collected monthly)
More information about the Peoples Trust MasterCard

ScotiaLine for Business VISA® Card Apply Now

ScotiaLine for Business VISA® Card

Interest on:

Annual Fee

$0

Purchases

3.25%1

Cash Advances

n/a2

Balance Transfers

n/a3

  • Interest rates as low as Scotiabank Prime for secured or Prime + 2.49% to Prime + 5.49% for unsecured
  • Credit limit up to $50,000 unsecured or $500,000 for a secured line of credit
  • Personalized VISA cards with both your personal and your business name
  • Free supplementary cards and personalized cheques

Notes:
  1. Secured Rate. Unsecured Rate from 4.74% to 7.74%.
  2. Interest rate not mentioned on website.
  3. Interest rate not mentioned on website.
More information about the ScotiaLine for Business VISA® Card

ScotiaLine VISA® Account Apply Now

ScotiaLine VISA® Account

Interest on:

Annual Fee

$0

Purchases

3.25%1

Cash Advances

n/a2

Balance Transfers

n/a3

  • Low rate, high limit personal line of credit with the convenience of no-fee VISA card access
  • Secured rates as low as 3.25% (Scotiabank Prime Rate + 1%)
  • Competitive unsecured rate of 7.24% (Scotia Prime Rate + 4.99%)
  • Credit limits ranging from $20,000 to $500,000

Notes:
  1. Secured Rate. Unsecured Rate at 7.24%.
  2. Interest rate not mentioned on website.
  3. Interest rate not mentioned on website.
More information about the ScotiaLine VISA® Account
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