Of course we have secured credit cards for people who are re-establishing their credit in Canada.

http://www.canadian-money-advisor.ca/secure-credit-card-info.html

It's a huge topic that I think people to spend a great deal of time learning about.

It's not a subject that's taught in schools... personal finance. It should be.

good post.

That was a question asked by my friend who's been through a lot financially and who's just now getting back on her feet with her new job.

Here's the answer I found for her:

There are companies that feed on the recently bankrupt and charge exorbitant fees and interest rates for you to be able to carry a credit card. The rankest that I've seen from people consulting in to this column is a company that charges fees of $350 to give you a credit card with a $500 credit line.
The bigger concern besides the high rates is your ability to manage credit. If you've managed without credit for a while, then there's a frequent pent-up demand to spend money on items that you can't really afford.

The aim should be a credit card with a line high enough to cover your expenses and a grace period long enough that you would normally be reimbursed before the credit card bill is due.
A secured credit card is the first step for someone who recently experienced bankruptcy. If you're still bankrupt then you may not be financially flexible enough to set up a secured credit card. You should check with the court or your attorney in this case
If a secured card is not right for you, then you are going to have to consider the high rate cards you are trying to avoid. The less time within your bankruptcy discharge, the more risk to the lender. Remember: Your aim is to have a card for corporate travel. If you maintain credit charges to just that purpose, then the interest charges should not be high even at the high APRs charged by these cards. This Bankrate tool identifies companies that provide credit to people in your situation.

Restrict your applications to one or two firms. Applying to several credit card issuers makes you look desperate for credit. Lenders don’t like lending to desperate people. Credit applications will stay on your credit report for a period of 2 years. If you belong to a credit union, you should also consider the credit cards they offer to their members.

I have owned two homes and was never late with payments in the past. I had a very good credit. But I recently had to file for bankruptcy due to job and health circumstances (I did not own a home at the time).

I want to re-establish my credit carefully. Can you please advise the best places to apply for a credit card? I am concerned that I will be charged outrageous interest rates or get myself into some type of problem because of my bankruptcy if I choose the wrong company to apply with. I want 1 card, not multiples. My primary reason besides re-establishing credit is I sometimes have to travel for work and we are required to use our own card to be reimbursed later. I would appreciate any advice you could give me. Thank you.