Question: We have just paid off our consumer proposal three months early. How do we go about getting a unsecured credit card. It seems nowadays you need to have a credit card for deposits etc.
Answer: Congratulations on paying off your consumer proposal early. You can apply for an unsecured credit card through any bank. However, because your proposal just ended, they may want you to wait a while before they will allow you to apply.
A quicker option is to get a secured credit card as a way to repair your credit. One of the largest and easiest companies to deal with is Home Trust Visa; they specialize in helping people with less than perfect credit obtain credit.
The Home Trust Secured VISA is a credit card that requires a security deposit for eligibility. Your credit limit is then set at the amount of the deposit. You can put down as little as $1,000, or as much as $10,000. Your security deposit earns interest, while your Home Trust VISA card is open and in good-standing.
For more information or to apply, read our article on credit repair with a secured credit card.