Unsecured credit cards for bad credit in Canada are a rare but invaluable thing for people going through a rough patch financially. With one, you can enjoy all the conveniences of typical credit while working on your financial comeback. Having a new card will make your life so much easier, and even with poor credit, it might be easier to get your hands on one than you think.
The Trials of Life Without Credit
Credit cards do more than let you borrow money. They also open up access to all kinds of activities and services that are enjoyable or even necessary. Without a credit card, you might struggle to:
- rent a car
- get a hotel room
- sign up for recurring services like grocery deliveries
- make purchases online
- access credit reward programs
That list is expansive, but it isn’t exhaustive. Even some parking lots require a credit card for entry! This is a great demonstration of how life can become very difficult when you don’t have a credit card. Even people challenged with giving theirs up for just one month report struggling to do it. Living that way over a longer period due to a lack of options is not a fair thing to expect anyone to do. That’s why some lenders do offer credit cards to people with a sub-optimal credit history.
Rebuilding With Care
While there are many reasons to get one or more of these cards, it should be noted that they are not without some drawbacks. The rough patches in your past require that even the most open-minded lenders treat your loans with some caution. This means that you are unlikely to get a card with the same level of freedom and permissions that you may have enjoyed in the past. Your interest rates will probably be higher than usual and your total limits lower. The good news is, this is only a temporary concession while you get your credit back under control.
Once you’ve successfully built it back up to a higher standard, you can move on to more favourable credit options again. In the meantime, unsecured credit cards for bad credit in Canada make an excellent compromise option.
Struggling to Get Approved
Getting your hands on credit again when you’ve experienced problems in your financial past is no easy feat. To even attempt to do it is to commit to a long and frustrating process. You apply to every credit card company you know of in hopes that one might overlook your problematic past. You’re likely to have your applications rejected very frequently, and there is nothing you can do to change the minds of the lenders who leave you to fend for yourself.
After so many rejections, you might start to lose heart and think that things will never get better. No matter what it may seem like now, the situation isn’t hopeless.
Get Unsecured Credit Cards for Bad Credit in Canada
By now you must realize how much these cards can help you, but you may not know where to go to apply for one. That’s where we can help.
Here at Bonsai Finance, we’ve partnered with a variety of lenders who we know are happy to work with traditionally under-served customers. They can help you get the credit cards you need to live life the way you want to, bad credit and all.
The fact that the cards are unsecured means even fewer barriers will stand in your way. You won’t be restricted by how much you can afford to put down up-front, even if you can’t afford anything at all. We connect you to credit options from lenders who treat you like a