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Best Secured Credit Cards

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Secured

The Capital One Guaranteed Secured Mastercard gives you an effortless way...
  • $59
    Annual Fee
  • $0
    Welcome Bonus
  • 0%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews
The Vanilla Prepaid Mastercard is one of the credit cards offered by...
  • $0
    Annual fee
  • $0
    Welcome Bonus
  • 0%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews
Using a credit card will always impact your credit score. Whenever this...
  • $0
    Annual fee
  • $0
    Welcome Bonus
  • 0%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: 2.5
*Limited time only – Get a $20 cash bonus with code: COMPAREWISE by...
  • $0
    Annual Fee
  • $20
    Welcome Bonus
  • 5%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: 4.5
*Limited time only – Get a $20 cash bonus with code: COMPAREWISE by...
  • $84
    Annual Fee
  • $20
    Welcome Bonus
  • 6%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: 5.0
The Mydoh Smart Cash Card allows your children to receive money and spend...
  • $0
    Annual fee
  • $0
    Welcome Bonus
  • 0%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews
**Limited Time Offer: Sign up for the Neo Credit or Neo Secured Credit...
  • $0
    Annual Fee
  • $30
    Welcome Bonus
  • 5%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews
Having bad credit or no credit history can be a barrier to several...
  • $0
    Annual Fee
  • $0
    Welcome Bonus
  • 0%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews
The OneVanilla Card (Vanilla Card) is suitable for everyday transactions...
  • $0
    Annual Fee
  • $0
    Welcome Bonus
  • $0
    Rewards Rate
  • Min.Credit:
                        
  • Rating: 5.0
MyVanilla Prepaid Card or Vanilla Prepaid Card is a safe and easy-to-use...
  • $0
    Annual Fee
  • $0
    Welcome Bonus
  • 0%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: 5.0
*Limited time only – Get a $20 cash bonus with code: COMPAREWISE by...
  • $0
    Annual Fee
  • $20
    Welcome Bonus
  • 5%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: 5.0
The Refresh Financial Secured Credit Card is one of the best credit cards...
  • $12.95
    Annual Fee
  • $0
    Welcome Bonus
  • 0%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews
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Secured Credit Cards

Secured credit cards are a great way to get your credit score up. Check out the top secured credit cards in Canada with Comparewise.

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Advertiser disclosure

Offers shown here are from third-party advertisers. We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options.

Young investors can trade stocks and ETFs, all for free.
Min Investment
$0
Target Return
Varied
Retire up to 30% wealthier with Questwealth Portfolio.
Min Investment
$1
Target Return
Varied
Get $20 CAD of BTC with promo code: COMPAREWISE
Min Investment
$100
Target Return
4-7%
Buy and sell gold, silver & platinum online at the best price.
Min Investment
$1
Target Return
Varied
Get up to $150 cash bonus
Min Investment
$0
Target Return
Varied
Flexibility with a great return.
Min Investment
$100
Target Return
5.20%
Get a $50 bonus when you sign up and deposit $250.
Min Investment
$50
Target Return
Varied
Buying and securing gold has never beeng more simple and affordable.
Min Investment
$1
Target Return
Varied
High return on a shorter term.
Min Investment
$500
Target Return
4.25%
Get a $100 welcome bonus, when you make your top-up*
Min Investment
$10
Target Return
Varied
A new passive income asset class, peer-to-peer lending.
Min Investment
$1
Target Return
Varied
Sign Up And Access 65+ Cryptocurrencies Instantly
Min Investment
$10
Target Return
Varied
June 14, 2024
Fact Checked

FAQs about
Secured Credit Cards

Should I Get a Secured Credit Card?

If you have poor credit or no credit history, then yes. Secured credit cards are also suitable for anyone who has declared bankruptcy or is in a consumer proposal. Since you won’t be eligible for a regular credit card, a secured credit card is your best bet.

Will a Secured Credit Card Really Improve My Credit Score?

Yes, as long as you pay your balance on time and in full. You’ll be amazed at what this card can do for your credit score. Also, responsible use of your credit card will help you reach your financial goals. Remember only to use your card for small purchases every month to stay on track.

Do Secured Credit Cards Have Guaranteed Approval?

Not all secured credit cards have guaranteed approval. A credit card provider may deny your application. This is especially true if you have accounts in collection or multiple missed payments on your record. If your application is denied, it's best to ask why. You have a legal right to know. You can solve the problem before applying for another secured credit card. Note that cards offering guaranteed approval are known as guaranteed credit cards.

Should I Have A Source Of Income to Be Approved for a Secured Credit Card?

Ideally, yes. Although an income is not often required, your chances of approval will be higher if you have a source of income.

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