Secure Credit Card

What is a secured credit card?


Although in life, in most cases, you can get by without a credit card, today there are many services that require it, such as car rentals, hotel bookings, etc. If you have a poor credit history and need to improve it, there are various companies that provide secured credit cards. This means you deposit a certain amount of money with the credit card company (which will be equal to your credit card limit).
Companies like Koho, Capital One, and Neo offer secured credit cards.

Since we only work with Neo and don't know the conditions of other credit cards, the following descriptions will be specifically about the NEO credit card. This company provides both secured and unsecured credit cards, but for people with poor credit history and in the status of tourist or student in Canada, a secured credit card may be the only option.
Neo Secured Credit Card


What collateral is required?

It depends on your needs; you can choose from $50 and above, and your credit card limit will be equal to the collateral.

How does a secured credit card work?

Just like any other credit card. You receive a statement that needs to be paid by the specified date. Upon cancellation of the credit card, you get your collateral back. It isn't used as long as you use the credit card and pay it off. Neo credit card accounts are reflected in your credit history.

What do you need to apply?

To apply for a Neo credit card, you need:
-To have a photo ID (a foreign passport also ok)
-To have an Email
-To have a Canadian phone number and address
-To Reside in Canada
-To have an account in any bank in Canada
To apply for a secured credit card use this link.

Our company will act as an agent, and we receive a one-time referral fee, which is not dependent on your limit or future spending on the credit card.

Questions?
Please email us at contact @ artemfinancial.ca or call/text at 403-690-8622.