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Unsecured Credit Cards for Bad Credit Canada
28 Aug 2018

Getting to know Unsecured Credit Cards for Bad Credit Canada

Getting unsecured credit cards for bad credit Canada can seem like a huge ordeal. Bad credit is something that many Canadians are faced with. It can happen in an instant and leave you reeling from the fallback for years to come.

There are many reasons why bad credit might afflict you. These reasons can include:

  • A divorce that sent your finances spiraling.
  • Change in job or a sudden layoff.
  • An emergency that arose that took priority overpayments. 
  • A series of bad luck that left many gaps in your budget. 

Regardless of the reason, you have bad credit now. Once you are in that situation, the only thing you can do moving forward is work to rectify it. 

If you are suffering from bad credit and desperately want to fix it, there are steps you can take. There are two primary ways to help you re-establish your tarnished credit.

These ways are

1. Get unsecured credit cards for bad credit Canada and start using it regularly.

2. Wait and let time work in your favor.

The first way is usually the best way to start getting your credit back on track. That is why it is a good idea to look for an unsecured credit card. It is a great way to help you start to re-establish your credit score and set you on the path to a more secure financial future.

Getting unsecured credit cards for bad credit Canada is beneficial to you in so many ways. In this day and age where debit cards can do just about anything, you might think you don’t need a credit card other than to establish credit. However, there are many uses that a credit card is more beneficial to you.

Here are a few things having a credit card can help you with:

  • Booking a hotel and giving a security deposit. Most hotels will require a credit card for a security deposit. Not all, but a good majority of them. 
  • Renting a car. Having a credit card will help you to rent a car as they prefer to have a credit card number on file when loaning you a vehicle. 
  • Getting a moving truck. Most moving companies who let you self-drive their trucks want to have you to have a credit card to book it. 
  • Though there are other ways, it is easier to make purchases online when you have a credit card. Some places are still not set up for debit credit, PayPal or Interact Online. 

There are many great benefits to owning a credit card. Even if you only want one to help you re-establish credit, having one on hand is always handy. It’s a good source of emergency funds when your bank account is lacking. 

What is an unsecured credit card?

This is a card that can have a limit of $200 upwards. It is available funds you can use to for any of the listed purposes above and more. This credit limit is given to you on the condition that you make your payments on the specified date to pay it down. 

If you are wanting unsecured credit cards for bad credit Canada to help you re-establish credit, then there are steps you can take to help you along. 

Here is how to use your credit card to improve your credit

  • Make regular purchases you know you can pay off. Once you make these purchases, you want to pay them off before the due date. 
  • If you use more limit than you have funds, try to pay more than the minimum payment amount and on time. 
  • Never default on your payments and don’t ever be late in making payments. 

When looking to get unsecured credit cards for bad credit Canada, you can type it into a search engine and see what comes up, but that will quickly overwhelm you. There is so much information on the web that you will have a difficult time deciphering it all. 

Our expert staff at Bonsai Finance can help you through this process. You want to be sure that the unsecured credit card you are looking at getting is going to be the right one for you. 

At Bonsai, our professional staff can help you by

  • Making sure the only unsecured credit cards that get offered to you are being offered by reputable lenders who specialize in giving credit cards to those who have a tarnished credit history. 
  • Helping you to understand the differences in the cards and all the fine print details that can quickly overwhelm you and make you feel despair. 
  • Going through the various terms and conditions with each card. Including things like rewards, types, annual fees and interest rates. This will ensure you have a full understanding of what is being offered.  
  • Answering any questions you might have in regards to the application process and much more. No matter what concern you have, we will help see you through. 

When you are looking into unsecured credit cards for bad credit Canada you want to be sure that the one you choose is going to be the right fit for you. There are many variations that come with each individual card. So you want to be sure what you are getting is going to benefit you and how you use it. 

Let our staff at Bonsai Finance help you to choose the right card for you. It can be a confusing process and you don’t want to apply for more than one because that can hurt your credit even more. 

When looking at unsecured credit cards for bad credit Canada, our staff will be able to guide you through the entire process. Soon enough, you will be on the path to a more secure and stable financial future.