Secured Visa card - for you?
Home Trust has just announced a Visa card with no annual fee. If your credit is bruised by a bankruptcy filing or a consumer proposal filing then this Visa credit card is for you.
You have to put up some money to start with and the minimum is $500. This makes the card "secured" - that is, if you don't pay them back they will take your security desposit.
The 20% annual interest rate is reasonable compared to others. But really, the interest rate doesn't matter at all if you pay them back every month in full, on time.
In addition to giving you the "comfort" of carrying around a credit card, Home Trust Visa reports your secured credit card usage to the credit bureau. So get the card, use it, pay it on time and positive comments will appear in your credit report. It's a great way to rebuild your credit rating!
Get all the details here: http://www.hometrust.ca/securedvisa.aspx