Compare the best secured credit cards in Canada. Build or rebuild your credit with a refundable security deposit and guaranteed approval.
It comes with a welcome bonus of 120,000 pts. You earn 1.25x on groceries and 1.25x at restaurants. Estimated first-year value is $2,351.
Annual Fee
$799
Rewards rate
1.25x
American Express Membership Rewards
Welcome Bonus
120,000 pts
1st Year Value
$2,351
It comes with a welcome bonus of 100,000 pts. You earn 1.5x on groceries and 1.25x at restaurants. Estimated first-year value is $2,283.
Annual Fee
$599
Rewards rate
1.25x
Aeroplan
Welcome Bonus
100,000 pts
1st Year Value
$2,283
It comes with a welcome bonus of 90,000 pts. You earn 1.25x on groceries and 1.25x at restaurants. Estimated first-year value is $2,226.
Annual Fee
$599
Rewards rate
1.25x
Aeroplan
Welcome Bonus
90,000 pts
1st Year Value
$2,226
It comes with a welcome bonus of 75,000 pts. You earn 1x on groceries and 1.5x at restaurants. Estimated first-year value is $2,215.
Annual Fee
$180
Rewards rate
1x
Aeroplan
Welcome Bonus
75,000 pts
1st Year Value
$2,215
It comes with a welcome bonus of 100,000 pts. You earn 1x on groceries and 2x at restaurants. Estimated first-year value is $2,170.
Annual Fee
$799
Rewards rate
1x
American Express Membership Rewards
Welcome Bonus
100,000 pts
1st Year Value
$2,170
It comes with a welcome bonus of 85,000 pts. You earn 1.5x on groceries and 1.5x at restaurants. Estimated first-year value is $2,161.
Annual Fee
$599
Rewards rate
1.25x
Aeroplan
Welcome Bonus
85,000 pts
1st Year Value
$2,161
It comes with a welcome bonus of 85,000 pts. You earn 1.25x on groceries and 2x at restaurants. Estimated first-year value is $2,130.
Annual Fee
$599
Rewards rate
1.25x
Aeroplan
Welcome Bonus
85,000 pts
1st Year Value
$2,130
It comes with a welcome bonus of 70,000 pts. You earn 2x on groceries and 2x at restaurants. Estimated first-year value is $1,764.
Annual Fee
$199
Rewards rate
1x
Viporter
Welcome Bonus
70,000 pts
1st Year Value
$1,764
It comes with a welcome bonus of 200,000 pts. You earn 5x on groceries and 5x at restaurants. Estimated first-year value is $1,655.
Annual Fee
$599
Rewards rate
1x
Bmo Rewards
Welcome Bonus
200,000 pts
1st Year Value
$1,655
The TD First Class Travel® Visa Infinite* Card offers the first year free (regular fee $139/yr). It comes with a welcome bonus of 165,000 pts. You earn 6x on groceries and 6x at restaurants. Estimated first-year value is $1,634.
Annual Fee
$139 $0
Rewards rate
2x
TD Rewards
Welcome Bonus
165,000 pts
1st Year Value
$1,634
Complete Guide
Compare the best secured credit cards in Canada. Build or rebuild your credit with a refundable security deposit and guaranteed approval.
A secured credit card is backed by a cash deposit you provide upfront — typically $200 to $5,000 — that becomes your credit limit. Because the issuer takes no risk, approval is virtually guaranteed regardless of credit history.
Secured cards are ideal if you're rebuilding credit after bankruptcy or missed payments, building credit from scratch, or new to Canada and lack a Canadian credit file. Used responsibly, they report monthly to the credit bureaus and can lift your score within 6–12 months.
Choose a card that reports to both Equifax and TransUnion, charges a low or no annual fee, and offers a clear path to graduate to an unsecured card. Some secured cards (Home Trust, Capital One Guaranteed) earn rewards and refund your deposit after 12 months of on-time payments.
166
Cards analyzed
May 2026
Last updated
100%
Independent
Our team evaluates credit cards based on overall consumer value: rewards earning rates, annual fees, welcome bonuses, insurance coverage, and additional perks. Cards are ranked by estimated first-year value. We update our picks monthly.
FAQ
You deposit $200–$5,000 with the issuer; that becomes your credit limit. You use the card normally, pay your bill each month, and the issuer reports your activity to the credit bureaus. After 12 months of on-time payments, many issuers refund your deposit and graduate you to a regular card.
Yes — provided the issuer reports to both Equifax and TransUnion (most do). The biggest factor is paying your statement balance on time every month. Avoid maxing out the card; keep utilization below 30%.
Home Trust Secured Visa (no annual fee) and Capital One Guaranteed are top picks for credit-building. Neo Financial offers a hybrid product with rewards. Compare deposit minimums, fees, and reporting before applying.
Compare the best credit cards in Canada or calculate which card's rewards actually fit your budget.
Cash Back
Travel
No Fee
Students
Groceries
Restaurants
No FX Fee
1st Yr Free
Balance Transfer
Lounges
Aeroplan
PC Optimum
Scene+
Amex Membership Rewards
CIBC Aventura
RBC Avion
BMO Rewards
TD Rewards
WestJet Rewards
Marriott Bonvoy
RBC
CIBC
Scotiabank
BMO
American Express
TD
MBNA
National Bank
Neo Financial
Capital One
Desjardins
Tangerine
Rogers Bank
Laurentian Bank
Visa
Mastercard
Amex (network)
Newcomers
