Secured Credit Cards to Help Rebuild Your Credit

Are you having trouble qualifying for a mortgage due to some mishaps on your credit report? The absolute best way to rebuild your credit is with a secured credit card. It also is one of the easiest ways to get used to using credit is with a secured credit card. Secured credit cards allow you to borrow up to a certain amount that you have deposited with the bank as security. If you have deposited $500 on your secured credit card, that will be the amount of your available credit. It is very similar to your everyday debit card, however, it is always working to build or rebuild your credit! If you manage your secured credit card well, the bank may choose to add to your limit without requesting additional deposits.

Secured credit cards are a good way to start building your credit history. Your credit score is partially based on the length of your credit history, so by establishing a history with a secured credit card, you can boost your credit score without running a high risk of default.

Mortgages Canada has a secured credit card for you:

Quebec residents, click here to find out more about our Secured Credit Card partner, People’s Trust.

For Canadian residents outside Quebec, click here to find out more about our Secured Credit Card partner Home Trust.

Our Partners

Home Trust – For Canadian Residents (outside Quebec)

Home Trust Company is one of Canada’s leading trust companies.

They offer Canadians a wide range of financial products and service alternatives, including mortgages, Visa cards, deposits and retail credit services. They focus primarily on a unique segment of the Canadian marketplace: consumers who do not have traditional credit backgrounds and whose specific needs are not met by larger financial institutions. They cater to self-employed entrepreneurs, people with past credit issues and borrowers with equity in their property who do not qualify due to lack of provable income or little credit history.

The Home Trust Secured Visa* Card is your best chance to get the credit you deserve.

Click here to apply for Home Trust’s Secured Visa Card

• Build or re-build your credit, even if you’ve had credit difficulties in the past, or have never had a credit card before! An excellent opportunity to establish your credit rating.
• Virtually everyone is approved.
• With your new Home Trust Secured VisaCard, you can:
  • Rent a car. Make purchases over the phone or internet. Plan and go on a vacation. Reserve a hotel room.
  • Access cash anytime, anywhere from over 1 million ATMs around the world displaying the Visa logo.
• Everything’s easier with a Home Trust Secured Visa Card!

How it works:

The Home Trust Secured Visa is a credit card that requires a security deposit for eligibility. Your credit limit is then set at the amount of the deposit. You can put down as little as $500, or as much as $10,000.

If you decide to cancel your card, you can just pay off your outstanding balance, and you’ll get your security deposit back from Home Trust. And Home Trust is a Member of Canada Deposit Insurance Corporation (CDIC) (1-800-461-2342).

The application process is very simple and almost everybody is approved! Of course, if your application is not approved, your security deposit will be immediately returned to you.

Click here for more information and to apply now.
Click here for the application form PDF

People’s Trust – For Quebec Residents

People’s Trust Company is a smaller personable Canadian Financial Institution offering specialty services and products. People’s Trust Payment Solutions specializes in providing internationally accepted, secure and expedient stored value cards and payment options to Canadian consumers and businesses.

Peoples Payment Solutions provides transaction processing for merchants wishing to have a wide selection of credit and debit card acceptance including chip enabled cards and multi currency options at an affordable price.

Prepaid or stored value cards are one of the most dynamic and fastest growing products in the financial industry. Stored value cards enable ‘cashless’ financial transactions. Payroll cards, government benefit cards, prepaid debit cards, gift cards, and telephone cards are examples of stored value cards. Their MasterCard branded cards carry the prestige of the MasterCard brand and can be used wherever MasterCard is accepted worldwide. Reloadable multipurpose cards are viewed as a more convenient and efficient way of making payments and are replacing the older, more traditional, credit card and formal banking processes.

Apply for your secured credit card today!

English application link: click here

French application link: click here