Neo Financial
Neo Secured Card
4.1·Rebuilding credit while still earning cash back
- Annual fee
- No annual fee
- Top reward
- 1% everyday spending
- Rare secured card that earns cash back
- No annual fee on the standard tier
Best Secured & Bad Credit Credit Cards in Canada
Updated June 2026 · Independently rated by the CreditCardGuru editorial team
The best secured credit cards in Canada help you build or rebuild credit with a refundable security deposit and easy approval, even with poor or no credit history. The right card has no (or low) annual fee, reports to both credit bureaus, and ideally earns a little back while you rebuild.
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Home Trust
Home Trust Secured Visa
4.0·Building or rebuilding credit with no annual fee
- Annual fee
- No annual fee
- Top reward
- No rewards
- No annual fee secured card
- Approval with poor or no credit history
Secured & Bad Credit credit cards: FAQ
What is the best credit card for bad credit in Canada?
Secured cards are the most reliable option. The no-fee Home Trust Secured Visa is a classic credit-builder, and the Neo Secured Card is unusual in earning cash back while you rebuild. Both report to the Canadian credit bureaus, so responsible use lifts your score.
How does a secured credit card work?
You provide a refundable security deposit (often from $500), which typically sets your credit limit. You then use the card like any credit card; because it reports to the bureaus, paying on time builds your credit. Many issuers refund the deposit once you've established a track record.
Can I get a credit card with bad credit in Canada?
Yes — secured cards are designed for exactly this and have very high approval rates regardless of credit score. After several months of on-time payments, you can often qualify for a standard unsecured card.
Want to see how these stack up against every other card? Compare all credit cards or read how we rate cards.