You can get a Home Trust secured credit card even if you've been discharged from bankrutpcy. This is important as having this card and using this credit card will immediately start to increase your credit score with both Equifax Canada and TransUnion Canada. Even the card has to be secured, there is NO notation of this security with the credit bureaus.
It's simple, although it may not seem logical at first. In order to receive a Home Trust visa card with a credit line of $1000, you must first give Home Trust a cheque or money order for $1000. They take your $1000 security to ensure that your payments will be made on a timely basis. If for some reason you're not able to make payments, then Home Trust can apply your principal to the payment schedule.
I highly recommend the HomeTrust secured visa card as it is one of the only openly marketed credit cards of its type in Canada. I don't know of a similar credit card of its type in Canada.
Home Trust Visa's are available to all Canadians who live in the following provinces Canada, Canadian, British Columbia (B.C.), Alberta (Alta), Saskatchewan (Sask), Manitoba (Man), Ontario (Ont), Newfoundland (Nfld), Nova Scotia, Prince Edward Island (P.E.I.) , New Brunswick . Please note: the secured credit card is NOT available in Quebec.
