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Best compare credit cards11/27/2023 ![]() ![]() If you apply over the phone or in person, you may have to present more documents, and a decision may take longer. The issuer usually carries out a credit check and will either approve or deny your application, which could happen immediately. Once you have chosen a credit card, simply visit the website, where you will normally find an application section, and fill out all your details. How to Apply for a Credit Card for Bad CreditĪpplying for a credit card for bad credit is a simple process. You may find that some cards are more suitable than others. Explore the categories of spending that provide the most cash back (e.g. Look at the rewards offered, too, including cash back. Once you have found some suitable cards, compare their features, including the APR and the annual fee. Or you may have to apply for a secured credit card that accepts people with poor or bad scores. What is your credit score? You may be able to apply for one that accepts applicants with fair scores. These are all cards that we think are some of the best cards for rebuilding credit. Start by exploring the cards in this guide. How to Choose a Credit Card to Rebuild Credit in Canada Purchase protection and extended warrantyĬapital One Low Rate Guaranteed Mastercardġ0 points for every $1 spent on groceries Best Credit Cards To Rebuild Credit Comparison CardsĬapital One Guaranteed Secured Mastercard Visit the credit card issuer’s website using the links to confirm each product’s terms and conditions before applying. We carefully evaluate each credit card and place more weight on the value of the long-term rewards it offers. ![]() Savvy New Canadians ranks the best credit cards to rebuild credit in Canada based on their credit score requirements, interest rates, annual fees, welcome bonuses, rewards, top features, categories, insurance coverage, and other perks. The main goal of this card is to get access to a credit card and improve your credit score. It has very few perks, including the chance to save 25% on car rentals at Avis and Budget. The ATB Alberta Mastercard Secured requires a $500 minimum for security. It has a $49 annual fee and an APR of 19.99% on purchases and 22.99% on cash advances. This is a secured card that you can use to rebuild your rating. With a low APR of 14.9% for purchases and balance transfers, but 21.9% for cash advances, it may be a suitable option if you carry a balance. It also has a few extra benefits, like travel accident insurance coverage. It regularly reports credit card activity to the credit bureaus, so you can build your credit if you make your payments on time. It does, however, state that it may require security funds. The annual fee is $79, but it has guaranteed approval. The Capital One Low Rate Guaranteed Mastercard is great for building credit. Capital One Low Rate Guaranteed Mastercard You pay a $29 annual fee (free supplementary cards) and a low 12.99% interest rate (compared to 20% or more).Ĭardholders can save 3 cents per litre of gas purchased at Petro-Canada while also earning more Petro-Points. This card requires a good credit score however, if you are trying to pay off your credit card debt, it can help you save on interest. The benefit of a low-interest credit card is that you can transfer your credit card debt at a lower rate and save on interest fees. a credit score above 660, you may qualify for an unsecured credit card with a low-interest rate. $20 cash bonus when you activate your card and use it for at least one purchase within 30 days of getting itīest Unsecured Credit Cards To Rebuild Credit.0.50% to 2.00% savings interest paid on your account balance (one of the best savings rates in Canada). ![]() The free Card also comes with free perks and rewards, including: You can unsubscribe from this optional service at any time. They report your monthly subscription fee payments to the credit bureaus, which helps rebuild your score over time. It offers a Credit Building Program for those looking to increase their credit score quickly.Īfter getting the free KOHO Card, simply subscribe to Credit Building at $7 to $10 per month. The KOHO Prepaid Mastercard is not your typical credit card (it is a prepaid card), and you can qualify for it with any type of credit rating (including a bad credit score).
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