I believe capital one bumped theirs up from two hundred to three hundred and they state that if you keep your account in good standing for ten straight months they will give you back your deposit and waive the annual fee. There is horizon plus and they want a $500.00 deposit; I heard they do not return the deposit unless you close the account down. Then there’s Home trust and you need a $1000.00 deposit and they have too many fees to use their card for my liking. I heard the five major banks will give you a secure card, and I believe they will hold your deposit up to eighteen months in a gic account.

I also agree with your great advice, it really works for me.Thanks for it.
A secured credit card is one that is backed by money you keep on deposit with the financial institution that issues the card. Often when a person cannot be approved for an unsecured credit card because of a lack of credit history or a negative credit history, a secured card can be a good option.
The best secured credit cards have a limit that is equal to the required deposit or greater than the required deposit, and can be converted to an unsecured credit card once the lender has been satisfied that the owner of the card can manage credit and make payments on time. Some secured credit cards however carry limits that are actually lower than the deposit required, and also carry exorbitant fees. All secured cards have an annual fee, and all of them have a less-than-ideal interest rate.

Yes! I agree with your great advice, it really works for me.
Thanks for your information!

As I mentioned in my other post... this is a really good idea. Thanks for letting me know about these secured credit cards.

There is also Capital 1 with a secured credit card but their minimum is 200.00 instead of home trust $1,000 minimum.

Those are the only two I know of in Canada.

i am trying to think about secured credit cards. it would take a year for me to save $1000 to put down on a secured credit card... isn't there a way to improve my credit without have to chunk a whole bunch of dough? even if i had the money, i have other expenses.

i just seems weird to have to pay money for a credit card.