The Motley Fool

The Best Secured Credit Cards for 2021

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The Motley Fool Canada’s top secured credit cards at a glance:


Home Trust No Fee Secured Visa

Good for: Rebuilding credit with annual no fee

Our Rating:

5.0 stars


Top Perks
  • Can help you build your credit rating
  • Insures eligible items against theft or damage for 90 days
  • Use online and in stores like any other credit card


Credit limit

Between $500 and $10,000

Annual fee:

$0

Eligibility:

Must pay a security deposit from a Canadian account in your name


Home Trust Secured Visa

Good for: Rebuilding credit with lower interest rate

Our Rating:

5.0 stars


Top Perks
  • Lower interest rate than no-fee card
  • Can help you build your credit rating
  • Insures eligible items against theft or damage for 90 days


Credit limit

Between $500 and $10,000

Annual fee:

$59

Eligibility:

Must pay a security deposit from a Canadian account in your name


Capital One Guaranteed Secured Mastercard®

Good for: Rebuilding credit

Our Rating:

5.0 stars


Top Perks
  • Can help you rebuild your credit
  • Price protection and purchase assurance protections
  • Valuable insurance including baggage delay, car rental, and travel accident insurance


Credit limit

Set by the issuer

Annual fee:

$59

Eligibility:

Must pay a security deposit of $75 or $300


Refresh Secured Visa

Good for: Rebuilding and monitoring credit

Our Rating:

4.5 stars


Top Perks
  • Can help you build your credit rating
  • Access to BLACK Tier for additional credit building and monitoring tools
  • Monitoring to ensure you keep credit utilization below 30%


Credit limit

Between $200 and $10,000

Annual fee:

$48.95 ($12.95 + $3/month)

Eligibility:

Must pay a security deposit


Plastk Secured Credit Card

Good for: Rebuilding credit while earning rewards

Our Rating:

4.5 stars


Top Perks
  • Can help you build your credit score
  • Cash back rewards (250 points = $1)
  • Sign up bonus: 0% APR for 3 months and 5,000 bonus reward points


Credit limit

Between $300 and $10,000

Annual fee:

$120 ($48 + $6/month)

Eligibility:

Must pay a minimum security deposit of $300


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