Here is a link to capital one secure card. I would go with the bank first if you can, and the second choice of mine if I had to get a secure would be capital one.

http://www.capitalone.ca/canada/cards/guaranteed-mastercard-newcomers/index.php?linkid=CAN_Z_Z_Z_CNHOME_R1_04_G_CNCPNC

Here is a link to capital one secure card. I would go with the bank first if you can, and the second choice of mine if I had to get a secure would be capital one.

http://www.capitalone.ca/canada/cards/guaranteed-mastercard-newcomers/index.php?linkid=CAN_Z_Z_Z_CNHOME_R1_04_G_CNCPNC

Here is a link to capital one secure card. I would go with the bank first if you can, and the second choice of mine if I had to get a secure would be capital one.

http://www.capitalone.ca/canada/cards/guaranteed-mastercard-newcomers/index.php?linkid=CAN_Z_Z_Z_CNHOME_R1_04_G_CNCPNC

I might do that at the BMO branch, they might offer better than what Citizens Bank just told me over the phone:

You have to open a term deposit with them. If you have a bad/no credit history, they will use your deposit at a 1-1 ratio (eg: You deposit $2000, then you get a $2000 credit limit).

However, if you have filed for bankruptcy, they use your deposit as a 2-1 ratio (Example - You deposit $2000, your credit limit is $1000). And they only do a review a full six years after your bankruptcy has been discharged to see if you can move to an unsecured card.

They have no fees and will take the account set up and application over the telephone. Their customer service seems very good, the CSR who took my call at the Visa centre was very knowledgeable and I could tell he knew what he was talking about (no pauses or Uhm's in the conversation).

But I don't like having to shell out double the deposit in order to get half that amount due to his bankruptcy, so I'm almost thinking the other options from Capital One. etc. might be a better option even though they have annual and monthly fees. But I'll see what BMO has to say too.

I would go into your bmo branch before I would believe redflagdeals.I have a friend that is an existing bmo customer and he recently got a secure card from them.

Oh wait, I just read on redflagdeals.com that BMO only offers a secured card to new/recent immigrants.

I think I'm going to call Citizens Bank and try to get that one after setting up a term deposit; it says on their website that after 12 months they review the account and if things are going well they can unsecure the card and return the deposit. Plus I like the no fees - I compared Horizon Plus, Cap One, Hometrust and their fees are quite high compared to Citizens as average joe mentioned already.

Thanks average_joe for the info!

If you go into your BMO branch and speak with a loans officer or manager, they will do a secure card for you. They don't have an online application.

I guess I asked this question in the wrong forum since it really did turn into a secured card discussion.

I am glad that everyone really hammered the point across to make sure to pay it off each month to build up the credit. My husband really had no idea about any of this, he is feeling much more optimistic about his future now if he keeps on the right track which I will monitor too. My plan is to pretty much take away his debit card and have him use the credit card for everything he buys & I will pay it off each month so there is always a 0 balance.

So, what would the chances of my husband getting a secured card at one of the major banks, if we don't have an account there? Our account is at BMO but they do not offer a secured card from what I understand. I think the RBC secured Visa sounds pretty good, 18 months later they will change you over and return the deposit as long as you keep up your payments. But I guess I don't want to waste my time going with him from bank to bank to bank if they just keep saying no unless you change banks (not interested in an extra hit on my credit report let alone his). Does anyone, or anyone's clients, have experience with the banks they don't deal with in getting a secured card?

Well put Vitzbitz!