FinviloCapital One Canada
Capital One Secured Mastercard
Secured Mastercard with security funds required.
- Annual fee
- $0
- Purchase interest rate
- 29.9% (21.9% for Quebec residents)
- Eligibility
- Security funds required
Best secured credit cards in Canada: how to choose
A secured card asks for a deposit, which usually becomes your credit limit. Used lightly and paid on time, it reports to the credit bureaus and helps build a credit history.
What to compare
- Minimum and maximum deposit
- Annual fee and interest rate
- Reporting to both Equifax and TransUnion
- Path to an unsecured card
Who should look elsewhere: Avoid paying an upfront fee to a company that promises to repair your credit; FCAC warns about these services.
Options we list (7)
Listed alphabetically, not ranked. Placement is not affected by compensation. Confirm current terms with each provider.
Home Trust
Home Trust Secured Visa
Secured Visa with a no-fee option or a lower-rate option with a fee.
- Annual fee
- $0 (19.99%) or $59 (14.90%)
- Purchase interest rate
- 19.99% no-fee option; 14.90% with $59 fee
- Provincial availability
- Not available in Quebec
Home Trust
Home Trust Secured Visa: Low Rate Option
A lower-interest pricing option in the Home Trust Secured Visa family with an annual fee. The cash deposit secures the account, while regular payments are still required.
- Credit reporting
- Monthly reporting to a credit bureau.
- Provinces
- Quebec excluded; complete province-by-province availability Not confirmed.
- Repayment
- Deposit does not replace monthly payments.
- Security deposit and limit
- CAD 500 to CAD 10,000; limit equals deposit.
Home Trust
Home Trust Secured Visa: No Annual Fee Option
Deposit-secured card with monthly credit-bureau reporting. The deposit determines the limit but does not replace regular card payments.
- Provinces
- Quebec excluded; complete province-by-province availability Not confirmed.
- Credit reporting
- Monthly reporting to a credit bureau.
- Requirements
- Permanent Canadian resident, age of majority, not currently bankrupt.
- Annual fee
- CAD 0.
Neo Financial
Neo Secured Mastercard
Neo's entry Mastercard with a secured limit and no minimum income.
- Eligibility
- No minimum income requirement
- Credit reporting
- Payments reported to TransUnion and Equifax
- Security deposit
- Fully refundable
Neo Financial
Neo World Elite Mastercard (secured)
Neo World Elite Mastercard with a secured limit.
- Minimum income
- $80,000 individual or $150,000 household
- Credit reporting
- Payments reported to TransUnion and Equifax
Neo Financial
Neo World Mastercard (secured)
Neo World Mastercard with a secured limit.
- Minimum income
- $50,000 individual or $80,000 household
- Credit reporting
- Payments reported to TransUnion and Equifax
Side-by-side comparisons
General information, not personalized financial advice.