How and where can you get canadian credit card or loan with bad credit?

Posted by admin on July 10, 2010 Leave a comment (3) Go to comments

Question by nicolas.nathan: How and where can you get canadian credit card or loan with bad credit?
How and where can you get canadian credit card or loan with bad credit?

Best answer:

Answer by Mugwug
Bad Credit in Canada?

You’re best bet is to rebuild using a secured card (where a cash deposit is held by the lender against your credit limit). Try Capital One, as depending on how bad your credit is they may only require a 10% deposit.

Other options for secured cards are Horizon Plus Mastercard (100% deposit, with a minimum of 0) and Hometrust Visa (100% deposit, with a minimum of ,000).

For bad credit loans you may be able to get one from CitiFinancial, but the rates on all of these options will be high. If you’re going to use any of them it should be as a stepping stone to good credit.

Good luck!

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3 Comments.

  1. Melanie July 10, 2010 at 12:05 pm

    In my experience there are two types of Bad Credit Credit Cards. One is a secured card, and the other has a much higher rate of interest. Both can be used to rebuild your credit worthiness after getting back on your feet. Secured credit cards are great for rebuilding your credit. You send the credit card company a pre deposit amount set by the company