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  • 0% Rewards Rate
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Refresh Financial Secured Credit Card Overview

The Refresh Financial Secured Credit Card is one of the best credit cards for improving your credit score. If you have bad credit or no credit history, it’s worth the bet.

It functions like a regular credit card. However, you will need to make a security deposit of $200. This will set your credit limit.

Only a few secured cards offer such a low minimum deposit. Because of the low minimum limit, you’ll be able to save more money while improving your credit score.

The low spending limit is also a good offer if you wish to spend small amounts gradually and avoid overspending. Another great thing about this card is getting your deposit back when you close your account.

On top of establishing or improving your credit history, you can keep track of your monthly spending. You’ll have access to credit management and tracking tools courtesy of Refresh Financial.

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The Refresh Financial Secured Credit Card has guaranteed approval. Since you provide a security deposit, your chances of approval are much higher than for a regular credit card. Apart from its simple qualification requirements, you’ll benefit from the monthly reports sent to two of Canada’s credit bureaus.

Refresh Financial is also one of a few credit-building lenders that provide free financial education. This training is available through the Refresh online portal. The financial training course covers everything from credit score improvement to basic personal finance education and guidance.

Essential Information

Network

Visa

Provider

Refresh Financial

Card Type

Secured

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Key Features

The Refresh Financial Secured Credit Card has the following features.

  • Refresh Financial’s automatic credit score management and tracking. This allows you to monitor your credit score and receive alerts about changes in your credit report. These tools will help you stay on top of your credit rating as you work to improve it.
  • Access to Refresh Financial’s credit utilization rate calculator. This tool will help you determine how your spending and payment habits affect your credit score.
  • A minimum security deposit of $200. The maximum you can deposit for your security deposit is $10,000.
  • Guaranteed approval for the card if you put down a security deposit.
  • Free financial education is available through the Refresh online portal.
  • No credit check is required to be approved for the card. Therefore, you don’t have to worry about your credit score getting in the way of your application.
  • Payments are reported to both credit bureaus. This helps you build a positive payment history reflected on your credit report.
  • Worldwide acceptance thanks to the Visa network. Therefore, wherever you go, you can use your Refresh Financial Secured Credit Card to make a purchase.
  • Fast and easy e-transfer payments.
  • Security deposit refund upon card cancellation.
  • A low annual fee and interest rate on purchases.

Costs and Fees

  • Annual fee: $12.95
  • Maintenance fee: $3 per month
  • The annual interest rate on purchases: 17.99%
  • Overlimit fee: $5.00 (The card is charged once, then canceled a second time)
  • Foreign POS transactions: $3.50
  • The interest-free grace period on purchases: 21 days

FAQs about the
Refresh Financial Secured Credit Card

How Does the Refresh Financial Secured Credit Card Compare to Other Cards?

The Refresh Financial Secured Credit Card is designed to build your credit score. One key difference is the low-interest rate and no credit score background check.

Who’s the Refresh Financial Secured Credit Card For?

The Refresh Financial Secured Credit Card is suitable for most people because of its low-interest rate and fees. If you're looking to build a good credit score, this is a perfect option.

What Are the Requirements to Get the Refresh Financial Secured Credit Card?

You must meet the following criteria to be eligible for a Refresh Financial Secured Credit Card:

  • Be of the age of majority in your province (18 or 19 years old)
  • Be a Canadian resident
  • Be able to provide at least a $200 security deposit
It's worth noting that you shouldn't have had a Refresh card or account in the previous 30 days before applying.

What Credit Score Do I Need?

There is no minimum credit score requirement. Refresh Financial doesn’t conduct credit checks, which means you will be approved regardless of your credit score.

Are There Any Specific Document Requirements?

Fortunately, no specific documentation is required. However, you must provide your Social Insurance Number (SIN), financial information, and employment information.

How Long Does It Take to Get the Refresh Financial Secured Credit Card?

You'll need to make a deposit after you've completed the application form and provided all the required information. Once the deposit is confirmed, you'll typically receive your credit card within three weeks.

What Is the Refresh Financial Secured Credit Card Limit?

The amount of your security deposit determines your credit limit. You can deposit an amount between $200 and $10,000. The minimum limit of the Refresh Financial Secured Credit Card is lower than most secured credit cards. Therefore, you won't have to spend a lot of money on your first deposit.

Refresh Financial Secured Credit Card Terms and Conditions

*The Refresh Secure Card is owned and issued by Digital Commerce Bank pursuant to license by Visa International. Use of the card is governed by the agreement under which it is issued. The Visa Brand is a registered trademark of Visa International. All credit and approvals are provided by Refresh Card Solutions Inc. Digital Commerce Bank provides no credit or loans. All funding and lending for this program is provided by Refresh Card Solutions Inc.

Refresh Financial Secured Credit Card Details

Provider
Refresh Financial
Network Provider
Visa
Card Type
Secured
Annual Fee
$12.95
Purchase Interest Rate
17.99%
Credit Needed
Poor (300 - 559)
                                                                                                                    

Refresh Financial Secured Credit Card Offices

Phone Number
1-800-746-4840
Email
hello@refreshfinancial.ca
Hours
Mon-Fri from 9:00 am to 5:00 pm PT
Address
230-1628 Dickson Ave Kelowna BC V1Y 9X1 Canada
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Refresh Financial Secured Credit Card Card Details
  • Min. Credit :
    Poor (300 - 559)
                                                                    
  • Card Type : Secured
  • Providers : Refresh Financial
  • Network Provider : Visa
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