Secured credit cards are an excellent option for individuals with low credit scores. With a secured card you provide a security deposit typically equal to your credit limit. This deposit acts as collateral and minimizes the risk for the credit card issuer. Responsible usage of a secured credit card can help improve your credit score over time.

The Capital One Guaranteed Mastercard is a popular choice for Canadians with low credit scores. It is designed to help rebuild credit and offers a low minimum deposit requirement. With responsible use and on-time payments cardholders may be eligible for credit line increases over time.

The Home Trust Secured Visa Card is another option that caters to individuals with limited or damaged credit histories. It requires a security deposit which determines the credit limit. The card offers benefits such as car rental discounts and purchase protection making it a valuable tool for everyday transactions.

The Refresh Financial Secured Visa is specifically tailored to help Canadians with low credit scores rebuild their credit. It requires a security deposit and offers credit limits up to the amount of the deposit. With regular reporting to credit bureaus responsible use of this card can contribute to improving your credit score.

The Affirm Mastercard is designed for Canadians looking to build or rebuild their credit history. It does not require a security deposit making it an appealing option for those who may not have the funds for a deposit. Timely payments and responsible credit management with this card can help improve your credit score.

6. Capital One Low Rate Guaranteed Mastercard:

The Capital One Low Rate Guaranteed Mastercard is an excellent choice for Canadians with lower credit scores who may be seeking a lower interest rate. It provides an opportunity to rebuild credit while offering a competitive interest rate on purchases. With responsible use cardholders can work towards improving their credit profile.