Compare the best secured credit cards in Canada. Build or rebuild your credit with a refundable security deposit and guaranteed approval.
The Secured Tims Mastercard has no annual fee, making it risk-free to hold. You earn 2x on groceries and 0.25x at restaurants. Estimated first-year value is $118.
Tims Rewards
It comes with a welcome bonus of $25. You earn 1x on groceries and 0x at restaurants. Estimated first-year value is $13.
Cash Back
The Capital One Guaranteed Secured Mastercard has no annual fee, making it risk-free to hold. You earn 0x on groceries and 0x at restaurants.
Complete Guide
Compare the best secured credit cards in Canada. Build or rebuild your credit with a refundable security deposit and guaranteed approval.
A secured credit card is backed by a cash deposit you provide upfront — typically $200 to $5,000 — that becomes your credit limit. Because the issuer takes no risk, approval is virtually guaranteed regardless of credit history.
Secured cards are ideal if you're rebuilding credit after bankruptcy or missed payments, building credit from scratch, or new to Canada and lack a Canadian credit file. Used responsibly, they report monthly to the credit bureaus and can lift your score within 6–12 months.
Choose a card that reports to both Equifax and TransUnion, charges a low or no annual fee, and offers a clear path to graduate to an unsecured card. Some secured cards (Home Trust, Capital One Guaranteed) earn rewards and refund your deposit after 12 months of on-time payments.
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Cards analyzed
Jun 2026
Last updated
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Independent
Our team evaluates credit cards based on overall consumer value: rewards earning rates, annual fees, welcome bonuses, insurance coverage, and additional perks. Cards are ranked by estimated first-year value. We update our picks monthly.
FAQ
You deposit $200–$5,000 with the issuer; that becomes your credit limit. You use the card normally, pay your bill each month, and the issuer reports your activity to the credit bureaus. After 12 months of on-time payments, many issuers refund your deposit and graduate you to a regular card.
Yes — provided the issuer reports to both Equifax and TransUnion (most do). The biggest factor is paying your statement balance on time every month. Avoid maxing out the card; keep utilization below 30%.
Home Trust Secured Visa (no annual fee) and Capital One Guaranteed are top picks for credit-building. Neo Financial offers a hybrid product with rewards. Compare deposit minimums, fees, and reporting before applying.
Compare the best credit cards in Canada or calculate which card's rewards actually fit your budget.
