Refresh Financial Secured Credit Card: 2018 Review

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The Refresh Secured Visa offers an impressive combination of a low annual fee and a decent interest rate. You’re guaranteed to be approved as long as you:

  1. Are at least the age of majority in your province or territory
  2. Live in a province or territory where Refresh offers the card
  3. Don’t have an existing card or account with Refresh or a pending application for one
  4. Haven’t applied for a Refresh card or account more than once in the past 30 days
  5. Haven’t had a Refresh card or loan with Refresh that was not in good standing in the past year
  6. Provide an eligible security deposit

The card requires a security deposit of at least $200, making it more affordable than many other secured credit cards.

If needed, you can go as high as $10,000. Your credit limit may or may not be equal to your deposit. Refresh Financial will determine your limit based on your application and credit information.In addition to helping you build credit, this lender also provides access to online courses to help you improve your money management skills. To learn more, you can check out the Refresh f.i.t. program.

There are no credit checks and approval is guaranteed. Even better, this is one of the lowest credit card interest rates on the market.

The Credit Build

Lets take a deeper look at one of the best credit cards for people with poor or even no credit. If you need a credit card to pay for online purchases, travel or want to rebuild your credit, then this is the card for you. Everyone is guaranteed approval as long as you can provide a qualifying security deposit.

Remember this card will help you build your credit but works just like a normal credit card so you can still make all your purchases wherever credit cards are accepted.

People with thin credit, new immigrants, students are all looking for ways to establish credit, its important to find the right secured card that will work with you to build your credit over time.



  • Your payments are reported to the major credit bureaus
  • Keeping your balance low and making payments on time will increase your score

Best things we like about this card


No credit required


No credit check


Low interest rates

How does a secured credit card help build my credit?

Secured credit cards are a great way to build your credit. They require you to be able to put up a security deposit that in this case is between $200 to $10,000. This amount is roughly equal to amount of “credit” you will have on that card (the amount you can spend). So if you deposit $200 then your credit limit is going to be $200. This makes it easier for Refresh Financial to approve you as they don’t have any money at risk (this is why it is so important to build your credit!). If you don’t pay your credit card bill, then Refresh Financial will take the money you owe from your deposit. Its that easy – but don’t rely on that for your payments as it won’t help you build your credit that way. Once you have made good monthly payments, you will start to increase your credit score, over time you will get your $200 back and now be in a position where you have proven that you are good person to lend money too. Now you can apply for an unsecured credit card and let your new and improved credit score speak for itself. This type of card will not need a security deposit.

Every time you make a positive payment on against your card, the issuer will report this to the credit agencies and that will start to increase your credit score.

Secured credit cards vs. prepaid debit – what is better?

Both of these cards require you to put money up as a security deposit before you can use them. They can also both be used in the same places that all credit cards are accepted – online, restaurants, grocery stores etc.

There is one main difference between the two.

Secured credit card will require you to make a security deposit against the amount of the credit limit that you want. This has to be done before you are approved for a card.

How does a secured credit card build my credit?

Every time you make a positive payment on against your card, the issuer will report this to the credit agencies and that will start to increase your credit score.

Looking for a faster way to increase your score?