If you have poor or no credit, having a secured credit card will help you establish or improve your credit score. You can get secured credit cards in Toronto from most Canadian banks or other credit card providers. If you are a union member, you may want to check with your institution as well. Secured credit cards are not offered by all institutions and in fact, most credit card issuers prefer the unsecured variety. The latter are offered with higher fees and interest rates. You should not give up though, and an unsecured credit card is not always an option. Young persons who are just starting out or those who are rebuilding their credit score after some major event (serious illness, job loss, or divorce), may find this card a good option.
When it comes to Toronto secured credit card application, which one is a better deal? You can choose from various types, including secured MasterCard and secured Visa. You can check the offer of Toronto Dominion, for example - the secured TD Canada Trust Credit Card is a type of card secured by money you deposit into the card account. The amount deposited becomes your credit limit. The funds deposited into the account may be held by the bank up to three years, depending on the card of choice. Apart from establishing credit history, this card allows holders to take care of emergency purchases, car rentals, and hotel reservations.
The Capital One Guaranteed Secured MasterCard is another secured credit card you can check. It is offered with zero fraud liability, 19.8 percent interest rate, and annual fee of $59. This card is a good option for persons who seek to establish credit and are able to cover at least the minimum balance. The card is featured with a number of perks, including MasterRoad Assist Service, MasterCard Global Service, and 24/7 assistance. With the MasterCard Global Service, clients are entitled to emergency card replacement, emergency cash advances, 24/7 telephone access, and more.
The Bank of Montreal also offers to its Vancouver clients secured cards. You can check the Prepaid Travel MasterCard, going with a $9.95 purchase fee, zero dollar liability, purchase protection, worldwide acceptance, and extended warranty. The IDefense service offers identity theft assistance while safe internet shopping is possible thanks to the MasterCard SecureCode. A major benefit is that cardholders do not pay interest.They can load the credit card as a bill payment, using a bank account in a number of financial institutions. It is easy to load and reload this credit card. It is up to you how much to load provided that the card is prepaid and re-loadable. The Prepaid Travel MasterCard is a convenient and secure alternative to other products such as traveler's cheques.
If you apply for this card, you should present your personal information, employer's name, employment status, occupation, and other information.
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