1.Neo Secured Mastercard
Neo Financial
- 15%Cash back at Neo partners
- 5%Cash back on groceries
- 2%Cash back on recurring bills
- 1%Cash back on gas and EV charging
- 1%Cash back everywhere else
Get CA$25 just by being approved for a Neo Mastercard through specific affiliate links.
Earn up to 15% cash back at Neo partners, 1% on gas and groceries.
19.99%-29.99%
22.99%-31.99%
The Neo Secured Mastercard stands out as the top choice because it combines instant approval with a robust cashback rewards structure, making it an excellent option for those looking to build credit while earning rewards. With up to 15% cash back at partner retailers, it offers significant value for everyday spending.
Pros:
- Instant approval
- High partner cashback rates
Cons:
- Requires a refundable security deposit
- Fees depend on the plan
2.Capital One Guaranteed Secured Mastercard
Capital One
- No rewards breakdown available
N/A
No rewards points or cashback.
29.9%
29.9%
What sets the Capital One Guaranteed Secured Mastercard apart is its focus on guaranteed approval for individuals looking to rebuild their credit. While it lacks rewards, it provides essential protections and benefits, making it a reliable choice for those prioritizing credit repair.
Pros:
- Guaranteed approval
- Includes everyday and travel benefits
Cons:
- No rewards on purchases
- High interest rates
3.Home Trust Secured Visa Card
Home Trust
- No rewards breakdown available
N/A
No rewards points or cashback.
19.99%
19.99%
The Home Trust Secured Visa Card shines for its straightforward approach to credit building, making it an ideal option for individuals with untraditional credit histories. While it does not offer rewards, its focus on helping users establish or repair their credit is a significant advantage.
Pros:
- No annual fee
- Helps build credit history
Cons:
- No rewards
- Requires a security deposit
Final Words
As you consider your options for secured credit cards this January 2026, remember that the right choice can significantly impact your credit-building journey. Take time to compare the features and benefits of each card to ensure you make an informed decision that aligns with your financial goals.
Frequently Asked Questions
Get CA$25 just by being approved for a Neo Mastercard through specific affiliate links.
Earn up to 15% cash back at Neo partners, 1% on gas and groceries.
No, the Capital One Guaranteed Secured Mastercard does not offer rewards points or cashback.
No, the Home Trust Secured Visa Card has an annual fee of CA$0, making it a cost-effective option for those looking to build credit.
Consider the annual fees, rewards structure, and whether the card reports to credit bureaus, as these factors can significantly impact your credit-building journey.
To apply for a secured credit card in Canada, you typically need to provide identification, proof of income, and a refundable security deposit. Applications can often be completed online for convenience.
Secured credit cards help you build or rebuild your credit history while providing a credit limit based on your security deposit. They often come with features like credit score tracking and can ease the transition to unsecured credit cards.
