Discuss Canadian Credit Cards here.
4 posts • Page 1 of 1
Secured and prepaid credit cards are two different things. The so-called prepaid credit cards are very similar to debit cards, the main difference being that they are accepted the same way as regular credit cards. The secured credit card requires a cash deposit, which the credit card holder cannot touch while in possession of the secured credit card. The secured credit card can help you build your credit history, but make sure you pay it on time and don't carry a balance on it.
When I first came to Canada no bank was willing to give me a credit card even with only $500 credit. The only solution I found at the time was to apply for secured credit card with CIBC, which worked right away. I have lots of friends in US, and they told me they never had similar problem down there are were approved for regular credit cards right away.
Who is online
Users browsing this forum: No registered users and 1 guest