When a person goes into bankruptcy he has to hand in all his credit cards to the trustee. After that person has been discharged from bankruptcy, he or she is often a good credit risk, since that person has no debt. Regardless, a discharged bankrupt often has a difficult time getting a new credit card.

An option is to acquire a "secured credit card". A "secured credit card" is a card backed-up or secured by funds you have deposited with the financial institution. The card looks like a credit card, and acts like a credit card but will have a limit depending on the amount of money that secures the card.

Secured credit cards are usually given to those with bad or no credit history.

Canadian Secured Credit Cards

Capital One - Secured MasterCard

Capital One - Secured credit card MasterCard

Secured MasterCard

• Guaranteed approval**
  
• May help you build or rebuild your credit**
  
• $0 fraud liability for unauthorized use**
  
• From a Canadian bank that gives you a break
  
• 24/7 customer service online and by phone
  
  
• Card accepted at over 24 million locations worldwide
  
• Instant access to cash at over 1 million ABMs
  
• Refundable security funds from as low as $75**
  
• Card design of your choice

Capital One - Secured credit card MasterCard
Apply Now ID: 100397

* Canadian Residents Only