Getting a Credit Card
Getting A Credit Card
Getting a credit card can be difficult if you have had debt issues or filed for bankruptcy in the past. If you are unable to qualify for a credit card, you will need to apply for a secure credit card from your bank or financial institution. Obtaining a secure credit card can help you fix your credit while still giving you the convenience of being able to access credit if you need it.
What is a secure credit card?
A secure credit card is one that is secured by funds you have deposited with the bank or credit union. For example, if you deposit $1,000, you will be given a $1,000 borrowing limit on your credit card. This deposit acts as collateral before you can receive your credit card and begin using it.
There are many Canadian financial institutions that offer secure credit cards and which are linked directly below:
How do you choose the right credit card?
Getting A Credit Card
Please visit the Financial Consumer Agency of Canada online to learn more about how to choose the right credit card. This is an excellent resource that provides information about:
- What you need to know before you start looking for a new card
- Interest rates and credit cards
- Additional fees and costs
- Rewards and benefits with particular cards
- Specialized cards, including secure credit cards
Contact our office for more detailed information about this process and your situation.
Do You Qualify for a Credit Card?
1-800-665-9965