Thanks everybody for your response. I want to let everybody know that I was approved for a TD VISA just last week.

I know Capital One is a good credit card to have, and yes I realize what a mistake it was to close my Capital One CC, so I opened another account with Capital One. In Calgary, Alberta, most Tim Hortons take MasterCard Pay-pass. They don't accept Visa Pay-Wave. So I might as well re-build credit with Capital One, and my cup of coffee at Timmies.

The reason why I chose the TD Visa is for a few reasons:

1.) I like TD Canada Trust. In my experience, they have provided and still continue to provide the highest level of customer services.

2.) TD Canada Trust never puts a single cheque on hold. Despite the fact that I delcared bankruptcy on them, and never had an account with with them for almost 5 years. Even then I opened a chequing account last year, which I never paid the OD fees, and had the account sent to collection after months in OD.

3.) After all that trouble I had cause TD. I finally found a stable job. Re-opened an account with them. TD never puts a check on hold.

4.) TD approved me for the Mazda 3 that I wanted back in December. Yes, I still didn't have a good job, and had no account with TD. But I had later learned that TD bought VFC, and Chrysler Financial. WOW. To be honest, I would still prefer not taking a high-risk auto loan.

5.) I still prefer having a major issue bank CC. It's sort of like comparing a High School Diploma vs a GED. Yes some creditors prefer that you have a major issued bank CC. I don't know why. I still credit to my TD VISA for getting my into a $40,000+ debt when I was only 19. And no, my intention is not to get into credit card debt, it's for re-building credit, and etc.

6.) Lastly, wish my last TD Visa. I gave $1,000 deposit for a $1,000 limit. A year and a half, I was at $5,000 without any deposit.

I would like to thank everybody for their response, apologize for what happened to Cober, and wish every good luck.

I applied for Capital One on March 1, 2010 (a week after my discharge) and of course they wanted $300 for a $300 card, and so I did that.

But, in December, I got a second envelope from them at the same time as my statement that looked like junk mail. It said 'You have a choice' on it.

I was about to throw it out, but instead decided to have a look. It was a letter offering me a limit increase from $300 to $1300 without any additional deposit!

This was a real surprise to me, but I accepted it anyway.

I have seen capital one give people a credit card without a deposit after they have been discharged two years from bankruptcy.

At least it would appear they are starting to get their facts straight and telling people that you need to be discharged for at least 2 years, as, in my case, it did cause them some problems with the Consumer Protection Act (Ontario) with regards to the way they were promoting it.

After being rejected, I served the branch with a notice stating they had provided me with misleading and deceptive information and that as a result, any agreements signed by me were officially null and void, and that they had to contact Equifax and remove the credit inquiry they did, re-train their staff on the requirements of the secured card, change the wording on the Secured Card page on their website or add a disclaimer indicating the requirements, and pay $500 in restitution, or, if they could not remove the inquiry they would have to pay $1000 in restitution, or else they would be taken to Small Claims Court.

I got a call from them the other day stating 'they were trying to find out how to remove the inquiry', so obviously this worked.

I'd like to mention that I did get approved for the CUETS secured MC. I had to lock up $550 in a term deposit at my Credit Union for a card with a $500 limit. Discharged bankruptcies are OK with them.

Mind you, CUETS does not advertise this secured card. You need to go to a Credit Union to ask about it and you'll need to join that Credit Union in order to get one, which usually involves purchasing shares.

They do offer a card with no annual fee, unlike Capital One, but it would appear that Capital One has proven to be pretty useful because of the fact they increased my limit after 7 months from the $300 I started out with to $1300.

This is from an email is receive from a TD Rep. The information here may or may not be accurate and may change without notice, and approval is not guaranteed.

"Thank you for taking the time to contact us about obtaining a Visa card to build your credit rating. We are happy to provide more information.

If you have recently applied for Visa cards with TD Canada Trust, and you have been declined, The secured Visa is the best option we can recommend to rebuild your credit rating faster. With this account your funds would remain on hold in an account, and your Visa would function like a normal Visa Card.

Unlike a pre-paid Visa, a Secured Visa still counts as borrowing money, and paying it back. This is what builds your credit rating. Even if you already have a secured Visa, having 2 credit cards in use can only build up your credit faster.

You are typically required to wait until your bankruptcy has been discharged for 2 years before you start applying for credit, but depending on your circumstances the branch may be able to make an exception for a secured credit product.

If you wish to apply for a secured Visa, you are encouraged to visit your local branch to discuss your options. You may wish to call ahead to make an appointment so that a Financial Services Representative is available to discuss the Secured Visa option with you in detail. Please be advised that an application can take approximately 2-3 weeks to complete. Branch information can be found here.

Generally speaking, the security for a secured Visa must be non-registered and 120% or more of the credit limit. However, this percentage is assessed at the time of your application and is dependent on a variety of factors. Elements such as income, housing cost, monthly obligations, credit rating and credit history will also be taken into consideration.".

Sorry about the recent comment. I did apply for a TD Visa, and was asked a 300% security deposit. I don't think I will be approved.

When I was just a teenager. I was making BIG money for my age. However, when I tried applying for some sort of secure credit at my local Credit Union (First Calgary), you can guess what response I got: "Sorry I cannot approve you".

In desperate hope I didn't know what to do so I went to a mall, and decided to ask the reception lady is they did secure visa. She said yes. The rest was history. I had a credit score of 760 in 18 months. Sadly, I become very frustrated with my flight training, girlfriend, and some other personal problems back in 2006. So, I totally gave up on life. I tried paying off my creditor through OPD, but thanks to the recession I wasn't able to so I declared bankruptcy.

Sorry about the tangent.

I listen to people go on about how lousy capital one is till I became a customer. I have been a customer for one year and I must say I am very happy with their service so far. I was approved for $500.00 without a deposit and nine months later I receive a letter stating with one telephone call my credit limit will be raised to $4500.00.I called them up last month and requested to have my interest rate lowered and my annual fee waived. I did have my annual fee waived but I am still waiting to have my interest rate lowered.

BUYER BEWARE!

I was actually DECLINED for a TD Secured Visa TODAY based on my bankruptcy that was discharged 1 year ago. The denial reason stated I needed to have been discharged for at least 3 years prior to them even considering approving it. I didn't even have anything that was from TD that was included in my bankruptcy.

There is a LOT of mis-information going around regarding this product, and branch staff don't even seem to know.

I'm in the process of challenging their decision to decline me for a SECURED card.

Plus, this is despite the 10 months I've been with Capital One with a spotless record plus other items reporting as positive, plus steady employment for the past 5 years!

Capital One, despite their lousy service, is still looking a LOT better than TD when it comes to Secured Cards.

Got my Capital One back in March 2010 just after being discharged and sent them $300 for a $300 limit. Got a letter in December 2010 stating I could increase my limit to $1300, which I accepted.

Yes, the service is lousy and the fees are high, but it is looking to be a far superior product.

Royal and CIBC aren't an option for me because they were included in the bankruptcy. Scotia and BMO don't do secured cards for those with bad credit; only for recent immigrants.

There are much better choices out there than TD for those who were recently discharged, such as the little known CUETS Financial (available through most credit unions) where you need to deposit $550 for a $500 card. They stated that discharged bankruptcies are OK.

You'll first need to find a Credit Union that you can join that offers their products (there are plenty that are open to everyone).

BTW Credit Unions (especially small ones) can be a past bankrupt's best friend if you've got a good history with them. I got a $1000 UNSECURED loan from mine a week after I was discharged for some dental work.

TD Canada Trust secured visa is an option... that's for sure..
With Capital One Secured Credit Cards you can pay your bills online. And you can apply after you've been discharged from bankruptcy.... the benefit to capital one's secured visa's are that they need only $70-$300 deposit from you, depending on your credit rating..

I think TD Canada trust will lend dollar for dollar... Which means taht if you want a $500 credit limit, you need to give them $500 in security deposit...

TD CANADA TRUST -- Offers Secured Visas.

http://www.tdcanadatrust.com/securedcards/index.jsp

My first VISA, or first credit was with TD CANADA TRUST. Amazingly, even after bankruptcy, TD Canada Trust told me that I could still apply for a secure VISA. Even though I was just recently discharged. I also like TD because they were a bit flexible with the due date -- Capital One told me that I couldn't change it, and also how the payments can be made instantly from a TD banking account into the visa. NO LATE PAYMENTS. (: