Have a low credit score? It’s still possible to access credit. There are a few credit cards for bad credit you may qualify for, while cash advance apps also offer fast funding and lenient eligibility requirements.
Let’s take a look at your options.
| Provider | How much you can borrow | Interest rate | Deposit required? | |
|---|---|---|---|---|
| Neo Secured Mastercard | Up to $10,000 | 19.99%–29.99% (up to 24.99% in QC) | Yes, $50 – $10,000 | Go to site |
| Capital One Guaranteed Secured Mastercard | Up to $2,500 | 29.9% (21.9% in Quebec) | Yes, $75 – $2,500 | |
| Home Trust Secured Visa | Up to $10,000 | 19.99% ($0 annual fee) or 14.9% ($59 annual fee) | Yes, $500 – $10,000 | |
| Nyble Credit Line | Up to $250 | 0% | No | Go to site |
| KOHO Cover | Up to $250 | 0% | No | |
| Bree Early Pay | Up to $750 | 0% | No | Go to site |
Eligibility requirements are flexible, so you could still qualify even if your credit history is far from perfect. Neo says you can apply with any credit history or income. You can also get pre-approved online with no hard credit check, so you can find out what you qualify for without it affecting your credit score.
It certainly does. You can earn 1% cashback on gas and grocery purchases, plus access cashback offers when you shop at 10,000+ Neo partners, including well-known brands like Walmart, Amazon, Netflix, Disney+, Gap, Old Navy and Second Cup.
100%. Neo Financial is a Canadian fintech based in Calgary. It’s registered as a Money Services Business with FINTRAC. Neo issues the Secured Neo Mastercard under a licence from Mastercard International.
Capital One offers “guaranteed” approval. That doesn’t actually mean approval is a sure thing. You won’t qualify if…
You can’t earn exciting rewards like cashback with this card, but it does come with some boring but useful insurance coverage. Policies include purchase assurance, extended warranty cover, car rental insurance, travel accident insurance and baggage delay insurance.
Yep. Capital One Canada is a division of Capital One Bank, which in turn is a subsidiary of Capital One Financial Corporation in the USA. The corporation is a FORTUNE 500 company and is listed on the New York Stock Exchange. Capital One’s Canadian HQ is in Toronto.
Home Trust Secured Visa review
Home Trust says “almost everyone” who applies and provides a deposit is approved. The Home Trust Secured Visa is designed for people with unconventional credit histories. So if you have bad credit, you’re a newcomer to Canada or you’re a student with limited credit, you could still get approved.
No. This no-frills card does exactly what it says on the label, so don’t expect any flashy rewards or extras.
It’s absolutely legit. Home Trust was founded in 1977 and is headquartered in Toronto. It merged with Fairstone Bank in 2025 to create Canada’s largest alternative lender. Home Trust is also a member of the Canada Deposit Insurance Corporation (CDIC).
Secured credit cards are a reliable way to access credit if your credit score isn’t the best, but if you’re looking for alternatives, cash advance apps are around. They charge 0% interest, don’t check credit and don’t require a deposit.
The downside? You can only borrow up to $750, and you don’t get a card you can tap at checkout.
Nyble’s eligibility requirements are much more flexible than a traditional loan. It doesn’t do credit checks, so bad credit won’t stop you from getting a loan. In fact, Nyble says you’re guaranteed approval if you have a Canadian bank account, you receive direct deposit income of at least $1,000/month, and you don’t have an existing Nyble account or any Nyble accounts that are not in good standing.
With a free account, you get access to your Equifax credit score and you can earn reward points for on-time payments. Redeem points for gift cards to popular retailers. Upgrade to an $11.99/month for a premium membership Premium plan to get instant funding, credit monitoring, balance protection insurance, identity theft coverage and a boosted rewards earn rate.
Nyble is completely legit. This Toronto-based platform launched in 2022 and is run by Canadian fintech Fincentify Inc. Nyble also has an average rating of 4.8/5 from 8,000+ Trustpilot reviews.
It is. KOHO says everyone who signs up for Cover will get an instant cash advance. You don’t need to pass a credit check or provide proof of income to qualify.
KOHO Cover subscribers get access to a free credit report, financial coaching and priority support. Your KOHO account also gets other benefits, including instant e-Transfers, 1 – 2% cashback on spending and 2 – 3.5% interest on your savings balance. Higher-tier accounts enjoy zero foreign transaction fees.
We can confirm that KOHO Cover is perfectly legit. KOHO is a Toronto-based fintech that has been in business since 2014. It is also in the process of acquiring a Schedule 1 banking licence.
Unlike a traditional loan or credit card, you don’t need to jump through a whole lot of hoops to get a Bree cash advance. You’ll need a consistent source of income to qualify for funding, and Bree accepts a variety of income types, including government benefits. Bree will also check whether you will have enough money in your account after paying back your advance to cover your regular expenses.
Sort of. You also get access to a free budgeting tool to help you track your income and expenses, plus a weekly newsletter with money management tips. They’re not the most exciting perks, but they could come in handy.
Bree is 100% legit. This Toronto-based fintech was founded in 2021 and has received thousands of customer reviews on Trustpilot.
If we’re basing this on how easy it is to access credit, the best credit cards for bad credit in Canada actually aren’t even credit cards; they’re cash advance apps. Cash advance apps don’t do credit checks, don’t require a security deposit and accept many types of income.
Among the credit cards, Neo offers the best perks, but it’s a realistic option only if you can keep $5,000 in your Neo account(s). Otherwise, you’ll be dinged with $7.99 per month.
If you want to avoid annual fees and don’t expect to pay off your balance every month, Home Trust Visa has a lower rate (19.99%) than Capital One (29.9% (21.9% in Quebec)). However, it requires at least $500 for the security deposit.
Should you choose a credit card or a cash advance app? The reality is that both options have their pros and cons.
The strength of credit cards is in their convenience. The money is there whenever you need it, and you can just tap and pay in seconds. And if you use your card responsibly, it can help you rebuild credit.
The weakness of credit cards is the cost. Interest rates of up to 29.99% apply, and you also need to come up with a security deposit just to get a bad credit credit card in the first place.
Cash advance apps can’t match the convenience of credit cards. You need to request an advance whenever you need money, loan amounts are lower, and you can’t borrow more until you pay off your last loan.
But affordability is the biggest strength of a cash advance app. Cash advance apps Bree and Nyble charge no interest or mandatory fees, making their advances a whole lot easier to repay.
A prepaid card lets you buy stuff in store and online just like a regular credit card. But instead of spending borrowed money, you pay with your own money that you load onto the card.
It’s not a good fit for everyone. On the plus side, it’s easy to get a prepaid card even if you have bad credit, and you don’t need to worry about taking on debt. These cards also make it easy to stick to a budget while avoiding overdraft fees from accidental overspending.
The catch is that you need to have money to load onto the card in the first place. So if you’re here because you need to borrow money with a credit card, a prepaid card is basically useless.
The other downside is that unlike a regular credit card, a prepaid card won’t help build your credit history.
Prepaid credit cards in Canada
Bad credit isn’t all bad news. You can still access credit with a secured credit card or a cash advance app, and some of these options will also help you rebuild your credit. Compare credit cards for bad credit as well as cash advance alternatives to get the funding you need.
The Neo Secured Mastercard is a solid option for those with bad credit, but there are some drawbacks. Learn more in our review.
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