Looking for the best Credit Cards for Bad Credit in Canada? The right choice depends on your spending, annual fees and the benefits you will actually use.
Compare the 7 cards in our selection below. Interested in a card? Click Read review to read our full analysis.
on TD's website
| Credit card | Annual fee | Welcome offer | |
|---|---|---|---|
| $120 | |||
| $0 | |||
| $149 | |||
| $149 | |||
| $0 | |||
| $120 | |||
| $120 |
With the Neo Secured Credit, you can easily obtain a secured credit card:
Get unlimited cash back from thousands of partners. Earn up to 15% boosted cash back at thousands of Neo partners across Canada.
on Neo Financial's website
The Capital One Guaranteed Mastercard is designed for those looking to build or rebuild their credit score without paying annual fees. Approval is guaranteed if you meet the basic eligibility criteria, and you can check your pre-approval without affecting your credit score using the Quick Check tool.
By using your card responsibly and making your payments on time, you demonstrate your ability to manage credit to credit reporting agencies, which helps gradually improve your credit history. Capital One regularly reports your file to the credit bureaus.
You get a credit limit of $300 to $7,000 (security funds may be required) along with all Mastercard benefits: Zero Liability, Mastercard Global Services, and 24/7 customer service. The card also includes a range of everyday protections, such as purchase assurance, extended warranty, and price protection service, as well as some travel coverage.
You can add an authorized user for free. The annual interest rate is 29.9% (21.9% for Quebec residents) for purchases, balance transfers, and cash advances.
Secured credit card: this card requires a security deposit and is designed for people building or rebuilding their credit history, including newcomers to Canada. Your credit limit matches the deposit you provide.
Maximize your rewards with the Neo Secured World Elite Mastercard – Gas Grocery. Earn up to 5% cash back on groceries, 4% on recurring payments, 3% on gas and electric vehicle charging, and 1% on everything else.
Benefit from comprehensive insurance coverage, including extended warranty, purchase protection, and travel insurance. In addition, receive a DragonPass membership for access to airport lounges worldwide.
With additional cash back at over 10,000 Neo partners and a secured format that helps you build your credit, your essential spending becomes more rewarding.
Travel insurance is not available to Quebec residents. DragonPass membership is included; fees apply for each lounge visit.
Secured credit card: this card requires a security deposit and is designed for people building or rebuilding their credit history, including newcomers to Canada. Your credit limit matches the deposit you provide.
The Neo Secured World Elite Mastercard – Everywhere combines the simplicity of a single rate with the benefits of a premium card. Earn 2% cash back on all your purchases (up to $4,000 per month, then 1% thereafter), with no categories to track.
You keep all the World Elite® benefits: comprehensive travel insurance, collision coverage for car rentals, and a DragonPass membership for airport lounges. Add to that additional discounts at over 10,000 Neo partners.
In its secured version, it’s the premium option to build your credit while earning high cash back on every purchase.
Travel insurance is not available to Quebec residents. DragonPass membership is included; fees apply for each lounge visit.
The Capital One Guaranteed Secured Mastercard is the secured version of Capital One’s guaranteed-approval card: it is designed for people who want to build or rebuild their credit score, with approval guaranteed as long as you meet the basic eligibility criteria. Unlike the standard version, security funds are required to open this account.
By using your card responsibly and making your payments on time, you show the credit bureaus that you can manage credit, which helps gradually improve your credit history. You can check whether you are pre-approved using the QuickCheck tool, with no impact on your credit score.
The card has no annual fee and gives you access to Mastercard benefits along with everyday protections such as Purchase Assurance and Extended Warranty. You can add an authorized user for free. The annual interest rate is 29.9% (21.9% for Quebec residents) on purchases, balance transfers and cash advances.
Secured credit card: this card requires a security deposit and is designed for people building or rebuilding their credit history, including newcomers to Canada. Your credit limit matches the deposit you provide.
The Neo Secured World Card – Gas & Grocery rewards your weekly spending. You earn 2% cash back on groceries, gas, EV charging, and recurring payments, and 0.5% on everything else.
It carries a $9.99 monthly fee (Build membership required for the secured credit limit) and is still designed for households looking to maximize their essential purchases without the complexity of tracking points. You also earn up to 15% boosted cash back at thousands of Neo partners across Canada, deposited directly into your Neo wallet with no minimums or expiration dates.
As a secured card that helps you build your credit, your everyday spending works for you from the very first purchase.
Secured credit card: this card requires a security deposit and is designed for people building or rebuilding their credit history, including newcomers to Canada. Your credit limit matches the deposit you provide.
The Neo Secured World Mastercard® – Everywhere is designed for those who want simple and consistent cash back, without tracking categories. One single rate, 1% on every purchase, with no cap.
It carries a $9.99 monthly fee (Build membership required for the secured credit limit) and is still a « set it and forget it » card: no optimization required, no categories to activate. You also earn up to 15% boosted cash back at thousands of Neo partners across Canada, deposited directly into your Neo wallet.
As a secured card, it’s a hassle-free option to earn rewards on every expense while you build your credit.
