Memberships open October 22. Get on the list and receive the free Rebuild Your Credit ebook today.
Join the launch list →Put down a refundable deposit of $250 to $5,000 and get a real Mastercard, reported to Equifax Canada every month. Use it anywhere Mastercard is accepted, and let your monthly balance alerts tell you exactly how to pay it. $9.99 a month, no membership plan required. Included free with Boost.
A credit card account you pay on time and keep well under its limit is the single most useful line on a Canadian credit file. The AvenaCredit Secured Card gives you that line, on a real Mastercard, without a credit check, for $9.99 a month, on its own or beside a membership tradeline.
Your deposit covers the risk, so there is no credit check and no minimum score to qualify. We only verify your identity, to prevent fraud. New to Canada, a student, or in or after a consumer proposal or bankruptcy: you can start.
Choose anywhere from $250 to $5,000. The deposit stays yours and is returned when you close the account in good standing. Pick a limit that fits what you already spend each month on gas, groceries and bills.
The card reports as a credit card account with its limit and payment history. That feeds the two biggest parts of a Canadian score: payment history and how you manage a revolving balance. Pair it with a membership tradeline and you also cover credit mix.
Get the card on its own, or add it to any AvenaCredit plan. There is no application to fill out and no credit check, only a quick identity check.
Pick any amount from $250 to $5,000. That is your credit limit. The deposit is refundable and sits as security, not as a fee.
Gas, groceries, your phone bill, online orders, in Canada and abroad: it is a real Mastercard. Spend normally, and let your balance alert tell you how much to pay down before the statement date.
Your balance alert tells you the target balance and the date to pay by. Pay in full on time, and the account is reported to Equifax Canada every month. Pay in full and you pay no interest.
No fine print to hunt for. Here is what the AvenaCredit Secured Card costs, what it needs from you, and where it reports.
Your credit score does not look at what you owe today. It looks at the balance on your statement date. Most people lose points here without knowing why. Every month, your AvenaCredit alert shows the balance your card should be at on that date and the date to pay by. Spend what you need; the alert tells you how much to pay down before the statement closes.
Want the full rule? Read how your statement balance affects your score.
The card stands on its own at $9.99 a month. If you want to build faster, every AvenaCredit plan adds a membership tradeline reported to Equifax Canada each month, so your file shows an instalment account beside the card. Starter and Build add the card for $9.99; Boost includes it free.
Compare every plan detail on the pricing page.
A deposit-backed card is often the first credit card you can get without a co-signer, and one of the few available while a proposal or bankruptcy is still on your file.
Students and newcomers with no Canadian history. The card starts your revolving history from month one. Read the guide
No credit check means the record on your file does not stop you. Start rebuilding before it falls off. Read the guide
Adding a second account type is what turns a thin file into an approval. Read the guide
Underwriters want at least two tradelines with clean history. The card is one; a membership plan can be the other. Read the guide
No. There is no credit check and no minimum score. Your refundable deposit covers the risk, which is why the card is available to people with no history, a thin file, or a consumer proposal or bankruptcy on record. We do verify your identity when you sign up, as every Canadian card issuer must, to prevent fraud. That is an ID check, not a credit check, and it leaves nothing on your credit file.
Anywhere from $250 to $5,000. Your deposit is your credit limit. A $500 deposit gives you a $500 card. Choose an amount that covers what you normally put on a card each month: gas, groceries, your phone bill, online orders. Each month, your balance alert tells you how much to pay before the statement date so the balance reported to Equifax stays low.
Yes. The deposit is security, not a fee. It is returned when you close the account in good standing with no balance owing.
$9.99 a month, and that is the only fee: no membership plan required, no credit check, no application fee. Interest is 24.99% a year, charged only on a balance you carry past the due date; pay your statement in full and you pay none. If you add a membership plan (from $24.99 a month), Starter and Build add the card for the same $9.99 and Boost includes it at no extra cost.
No. The Secured Card is $9.99 a month on its own. You get the card, the monthly balance alerts and the credit dashboard with no plan attached. A membership plan is optional: it adds a second, instalment-type tradeline to your file, which is the fastest way to build, and Boost includes the card free. You can add a plan later from your dashboard.
Equifax Canada, every month, as a credit card account with a limit and a payment history. Lenders reading your file cannot tell it is secured.
Yes. A consumer proposal, active or finished, does not stop you from getting the card, and neither does a past bankruptcy. There is no credit check, so the record on your file is never part of the decision. Keeping the card paid in full is one of the fastest ways to rebuild while the record is still there.
The Secured Card launches with AvenaCredit memberships on October 22. Join the launch list and you will be able to add it the day memberships open.
24.99% a year, and only on a balance you carry past the due date. You never need to carry a balance to build credit: the on-time payment and the low statement balance are what get reported. Pay in full every month, as your balance alert tells you to, and the card costs you $9.99 a month and nothing more.
Yes, the AvenaCredit Secured Card is a Mastercard. Use it anywhere Mastercard is accepted, in store and online, in Canada and abroad: gas, groceries, restaurants, subscriptions, your phone bill. It is a real credit card, not a prepaid card. The more of your everyday spending you run through it and pay off, the more on-time history you build. Your balance alert tells you how much to pay before the statement date so the balance Equifax sees stays low.
Want the long version? Read how secured credit cards work in Canada, or how a tradeline, a secured card and rent reporting stack.
The AvenaCredit Secured Card launches with memberships on October 22. Join the launch list and we’ll email you the moment you can add it — and you can download our free credit-building ebook right away.
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