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Best Credit Cards For Rebuilding Credit 2024
If You Have A Poor Credit Rating, Check Out These Credit Building Cards Offered In Canada and Rebuild Your Finance
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Rebuilding Your Credit when you have a low credit score might be difficult. Furthermore locating a credit card that you can be accepted for might prove difficult. Additionally, if you apply for a credit card and are denied, this may have a negative impact on your credit score since each credit inquiry is recorded on your credit report.
A Credit Building Card with poor credit is possible, you usually have two choices, a Secured Credit Card, in which you put down a security deposit equivalent to the credit amount you want, or an Unsecured Credit Card geared for those with poor credit that are also looking to rebuild their finances. In Canada both exist, if you have a decent income you should be able to get a card.
Unsecured Cards for those with poor credit come with fees and most offer exorbitant annual percentage rates. However, there are more and more banks and institutions offering reasonable rates and a steady credit rebuilding program. In addition some also offer benefits and perks to keep you loyal and help your purchasing journey! Look at these great Credit Card Offers those wanting to rebuild their credit in Canada.
The KOHO Prepaid Visa Card Is The Perfect card For Rebuilding Your Credit!
The KOHO Prepaid Visa Card is not a traditional credit card, rather it’s a prepaid card. It is available to those with any credit score including a bad credit score. For people who want to improve their credit score rapidly, it provides a Credit Building Program.
Simply subscribe to Credit Building for $7 per month after receiving the free KOHO Card. Your monthly membership fee payments are reported to the credit agencies, which helps to restore your credit score over time.
Choose The Plastk Secured Visa Card For Improving Your Finances and Get Back In The Black Today!
One of the greatest secured cards for those with bad credit is the Plastk Secured Visa Credit Card. You may apply for a credit limit of up to $10,000 and use Interac e-Transfer to make payments to clear your amount. Unlike regular secured cards, the Plastk Secured Credit Card comes with the following benefits:
- For the first three months, the APR is 0%.
- Bonus points of 5,000 points ($20 value)
- Purchases have a 25-day interest-free grace period.
- You may use your rewards points to buy items, gift cards, vacations and much more!
Select A Home Trust Secured Visa Card With Just A $500 Security Deposit and Rebuild Your Credit.
The Home Trust Secured Visa, which has no annual fees, may help you restore your credit without the hassle. Cardholders may set their credit limit depending on the amount of security deposit they put down, with a minimum of $500 and a maximum of $10,000. If you carry a debt beyond the grace period, you will be charged a purchase rate of 19.99 percent.
Many People With Poor Credit Start Again With A Capital One Guaranteed Secured Mastercard
Capital One is perhaps seen as the forerunner in rebuilding peoples credit history. They have great reviews and allow you to upgrade regularly as you repair your credit to cards with more features and more spending power.
To be eligible, you must:
- Be at least the age of the majority in your province.
- Have not applied for a Capital One credit card more than once in the past 30 days
- You don’t have a Capital One account or an application for one in the works.
- Make a $75 or $300 security deposit.
- 100% Acceptance Rate
Tangerine Money-Back Credit Card Is Your Way To A Better Credit History!
The Tangerine Money-Back Credit Card is a no-fee credit card that offers up to 2% cash back on purchases. If you have a credit score of 600 or higher and an annual income of at least $12,000, you can apply for this card. For a limited time, new cardholders may receive an additional $150 cash back if they spend $1,000 in the first two months after receiving the card.
The No Frills Scotiabank Value Visa Card Could Be Your Best Bet To Gradually Restore Your Credit Worthiness!
The Scotiabank Value Visa’s low interest rate might help you save money on fees if you carry a balance from month to month. It also provides a promotional balance transfer rate of 0.99 percent for the first six months. This credit card has a $500 minimum credit limit, and extra cards are free. At selected AVIS and Budget locations, cardholders may save up to 25% on vehicle rentals.
In addition this credit card when linked to your Online Banking App, offers huge incentives and cash back offers for many different shops, events, restaurants and even holidays and insurance. If you are a repeat customer at many places listed on the app you will benefit from super discounts and your purchases will always be much cheaper, allowing you to indulge a little elsewhere.
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