Secured Credit Card - Denied in Consumer Proposal

Re: Secured Credit Card - Denied in Consumer Proposal

« Reply #15 on: March 28, 2010, 08:55:57 PM »

TreeFrog
Full Member

Posts: 197

Hi Pjay,

This is not commonly believed by government and bank officials, but yes, banks and credit card companies do create money every time they offer new credit.

As far as I know, no, they do not have any legal duty of care or any other responsibility for the well-being of their customers.

In Canada, the Department of Finance sets credit card laws.

Hope this helps,
~Wendy


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Re: Secured Credit Card - Denied in Consumer Proposal

« Reply #16 on: May 31, 2010, 11:37:00 AM »

Credit Problem Solver
Newbie

Posts: 4

Hello, the Peoples Trust Secured MasterCard is the only card available in all of Canada including Quebec and it is the ideal card for people who are currently in Consumer Proposal..


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Re: Secured Credit Card - Denied in Consumer Proposal

« Reply #17 on: May 31, 2010, 11:50:00 AM »

Credit Problem Solver
Newbie

Posts: 4

I have spoken to many people in that same situation and the solution is simple. Get a Secured MasterCard at Peoples Trust which will approve you during your Consumer Proposal..This Card can help you start establishing your credit and it also gives you the opportunity to have a MasterCard that will give you all access to car rentals, hotel rentals, and the convenience of a credit card..Give it a try, and see how it can help you.


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Re: Secured Credit Card - Denied in Consumer Proposal

« Reply #18 on: May 31, 2010, 02:19:49 PM »

alex
Newbie

Posts: 30

Capital One secured Mastercard works the same. I had one while in bankruptcy and got the limit up to $2,500 (of course you have to send them $2,500). That is the max they will take on a secured. Works just the same as a regular card, used it in Florida for car rental, booked motels in Canada. Very slick. Just sucks that you have to be out the $2,500, but the convenience is awesome.
Been discharged for 1 year and hoping to apply soon for a regular card. The secured card has really helped with my credit rating. Just don't max it out and never, ever miss a payment.


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Re: Secured Credit Card - Denied in Consumer Proposal

« Reply #19 on: December 23, 2010, 02:21:42 PM »

ed
Newbie

Posts: 6

Capital One gives secured credit cards starting at $300.00 Prepaid
Home Equity Has a Secured Visa Starting at $500.00 Prepaid but you can prepaid up to $10,000,00
Yearly fees $59.00 Great cards if you pay off in time limit
Interest Rates !9.5 %
Remember using these cards for purchases like gas fill ups where you pay at pumps
will automatically have a hold on your card, for 7 days so pay at cashier only
Those in a Consumer Proposal may need a letter from a Trustee to obtain a Secured Card from Home


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