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Credit card during consumer proposal

Can I obtain a secured credit card `while` I am still in a consumer proposal process (still making payments)?

Posted from: Newfoundland and Labrador

One Response to “Credit card during consumer proposal”

A licensed trustee said...

Certainly – there are a number of different companies that offer secured credit cards. As an alternative, you may also obtain “prepaid” credit cards.

The difference between the two types: the prepaid cards do not rebuild your credit as you are giving the card company the money before you spend it. A secured credit card is actually extending credit to you and therefore should start the rebuilding process.