There are many options when it comes to securing a credit card. You have the Capital One Platinum Secured Credit Card or the Discover it Secured Visa as options. Another type of secured card is the Plastk Secured Visa. Clark Howard's ratings on the Capital One Platinum secured credit card are important to consider before you decide on a card.
Capital One Secured MasterCard
The Capital One Secured MasterCard is a great option if you're looking to rebuild credit after bankruptcy or other credit problems. The card has no annual fees and you can set your payment due dates to suit you. There are no foreign transaction fees.
Discover it Secured Visa
Whether you're looking to pay off debt or build a credit history, a secured credit card may be the right choice for you. These cards are subject to a $200 minimum security deposit, and a maximum credit limit of $200. They also don't charge an annual fee.
Plastk Secured Visa
Plastk Secured Visa Card can be your credit card if you have bad credit. The card doesn't have a minimum income requirement. However, the annual fee is $48 and the monthly maintenance fee is $6. You can also enjoy a variety of benefits to improve your credit score.
Capital One Mastercard Guaranteed Low Rate
Canadians with low credit scores can get the Capital One Low Rate Guaranteed MasterCard card. This card can be a great choice for people trying to repair their credit or establish it. The slightly higher annual fee can be quickly covered by the low interest rate. Capital One also reports to the three major credit agencies, which makes it easier for you to monitor your financial condition. This card also allows for you to pay by cheque, online or in a branch.
Home Trust Secured Visa
The Home Trust Secured Visa Visa Card is a great option to help build credit. The card allows you to make a deposit equal to your credit limit. This deposit is returned when the account is closed or you pay off the debt completely. You can put down as little or as large as $500. Or, you can place as high as $10,000.
Discover it Secured Card Credit Card
You can earn great rewards by using the Discover it Secured Card. The card comes with a cash-back program that gives you unlimited 1% cash back and 2% cash back at restaurants and gas stations. This card can be used to remove personal data from selected search websites. To prevent your data from being used in criminal activities, you can get free alerts.