Hardbacon Reveals the Best Secured Credit Cards in Canada for 2022

Hardbacon, a personal finance application used by more than 38,000 Canadians, revealed today its list of the top secured credit cards in Canada.

There exists dozens of different types of credit cards for just about any financial need and for many, a secured credit card is the best option. A secured credit card works just like a traditional credit card when it comes time to make a payment, but before you get a secured credit card, the main difference is that you have to put down a deposit.

A deposit is necessary to obtain a secured credit card and protects the lender in case they can’t pay back credit used, making it an ideal option, among others, for Canadians who need to repair their credit score. While anyone can take advantage of secured credit cards, it’s Canadians with low credit scores that will benefit the most from obtaining one.

Hardbacon’s list highlights the main features of 8 secured credit cards available to Canadians including annual and monthly fees, as well as interest rates, to help Canadians make the best choice for their lifestyle and financial needs.

“There are many reasons to opt for a secured credit card, as opposed to a traditional credit card, but they are especially beneficial for Canadians who need to build their payment and credit history,” said Hardbacon CEO, Julien Brault. “For any Canadian looking to make the most of their credit, this list offers an easy way to find and discover a secured credit card that is in line with your needs.”

The 8 Best Secured Credit Cards in Canada in 2022, According to Hardbacon:

• Refresh
• Neo
• KOHO
• Plastk
• Home Trust
• ATB Alberta Secured Mastercard
• Capital One Secured Mastercard
• Vancity Enviro Secured Card

Hardbacon’s top secured credit cards for 2022, including the complete list of 8 best secured credit cards in Canada for 2022, can be found in more detail on Hardbacon’s blog.

About Hardbacon

Hardbacon helps Canadians plan, budget and invest, while also enabling users to compare different financial services such as credit cards, bank accounts, online brokers, robo-advisors, mortgages and crypto exchanges. Hardbacon is available for download in the App Store and Google Play Store.