1.Refresh Secured Visa
Refresh Financial
- No rewards breakdown available
N/A
N/A
17.99%
The Refresh Secured Visa stands out as a reliable option for those looking to rebuild their credit. With guaranteed approval and a low annual fee, it provides a straightforward path to improving credit scores, making it a solid choice for individuals with poor credit histories.
Pros:
- Guaranteed approval
- Low annual fee
Cons:
- Strict fee structure
- No rewards offered
2.KOHO Prepaid Mastercard
KOHO
- 2%Cash back on everyday spending
New users can generally earn a $20 to $40 cash bonus and other tiered perks when signing up for a KOHO Prepaid Mastercard.
Earn up to 2% cash back on everyday spending, with additional rewards available through partner merchants.
0%
0%
What sets the KOHO Prepaid Mastercard apart is its ability to offer cash back rewards while functioning as a prepaid card. This unique combination allows users to manage their spending effectively while still earning rewards, making it a popular choice among Canadians.
Pros:
- Instant approval
- No credit check
Cons:
- Requires preloading funds
- Limited to prepaid functionality
3.Plus Visa Secured Card
OpenSky
- No rewards breakdown available
N/A
N/A
13.99%-21.99%
The Plus Visa Secured Card is designed specifically for those looking to build or repair their credit without the burden of an annual fee. Its no credit check policy makes it accessible, while the variable interest rates provide flexibility depending on the user's financial profile.
Pros:
- No credit check required
- Helps build credit
Cons:
- Limited rewards
- Variable interest rates
Did you know?
Rebuilding credit starts with on-time payments and low utilization. Secured or subprime credit cards on this list may help if interest rates and fees are manageable and you pay the statement balance when you can.
Final Words
As you navigate the options for credit cards designed for bad credit this July 2026 in Canada, remember that focusing on secured cards can provide a path to rebuilding your credit. Take the time to compare features, fees, and benefits to make an informed decision that best suits your financial goals.
Frequently Asked Questions
The Refresh Secured Visa is a guaranteed-approval credit card designed to help rebuild bad credit. It requires a minimum security deposit of $200, which matches your credit limit, and has an annual fee of CA$12.95 plus a $3 monthly maintenance fee.
Yes, new users can generally earn a $20 to $40 cash bonus and other tiered perks when signing up for a KOHO Prepaid Mastercard. This makes it an attractive option for those looking to manage their finances while building credit.
With the KOHO Prepaid Mastercard, you can earn up to 2% cash back on everyday spending, with additional rewards available through partner merchants. This makes it a great choice for those wanting to make their purchases work for them.
The Plus Visa Secured Card has an annual fee of CA$0, making it a low-cost option for individuals looking to rebuild their credit. However, it's important to note that it may not offer additional rewards or bonuses.
To choose the best credit card for bad credit, consider the annual fees, interest rates, and any rewards or bonuses offered. Look for cards that provide guaranteed approval and have features that suit your spending habits.
When applying for a credit card with bad credit, check if the card has a guaranteed approval process, as this increases your chances of getting approved. Additionally, be aware of any fees and the minimum security deposit required.
Yes, some credit cards for bad credit do offer rewards. For example, the KOHO Prepaid Mastercard allows you to earn up to 2% cash back on everyday spending, which can be beneficial even while working on improving your credit score.
