Refresh Secured Card Review

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Build up your credit score and control your monthly spending with the Refresh Secured Card.

With a monthly fee of $3 and an annual fee of $12.95, you can focus on rebuilding your credit score while getting access to a monthly credit limit between $200 to $10,000.


Purchase Interest Rate


Annual Fee


Product NameRefresh Secured Card
RewardThe Refresh Secured Card has no credit check, a low annual fee and guaranteed approval once you secure your card with anywhere from $200 - $10,000.
Welcome OfferNo available introductory offer.
Required Deposit$200 - $10,000
Purchase Interest Rate17.99%
Cash Advance RateN/A
Balance Transfer RateN/A
Interest Free Period Up to 21 days
Minimum Credit Limit$200
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More Info

30-second take

  • Get this card if you have poor credit or want to control your monthly spending.
  • Pick something else if you’re looking for rewards points, cash back or insurance coverage.
  • This card doesn’t require a credit check.

The basics

The Refresh Secured Card lets you build up your credit score and control your monthly spending by allowing you to determine your own credit limit based on the amount of security you offer upfront. Monthly credit limits sit between $200 to $10,000, which means you can get access to as little or as much credit as you need.

In addition to providing your security fund upfront, the Refresh Secured Card comes with a monthly fee of $3 and an annual fee of $12.95.

Aside from allowing you to set your own credit limit, the Refresh Secured Card is perhaps best for those looking to improve their credit scores. Making timely repayments can help you build up your credit score over time, which means you can look forward to getting a card that rewards your spending in the future.

The perks

  • No credit check approval.

    The Refresh Secured Card is a secured card which means no credit check is required since you must offer up a security deposit in order to determine your monthly credit limit. If you have a poor credit score but need access to a credit card, a secured card may be beneficial since your credit report won’t play a role in your approval.

  • Interest rate of 17.99%.

    This secured card offers an interest rate of 17.99%, which is typically lower than most cards offered in Canada. If you’re looking for a low interest rate card, this could potentially be an option.

  • Chance to build up your credit score.

    With a secured card, you’re offered the chance to work on improving your credit score. Making timely repayments will be reported to the credit bureau, which means you can improve your score over time and graduate from a secured card to an unsecured card that offers rewards for your spending.

You’ll also like …

  • Access to free financial education.
    Refresh Financial offers access to free educational financial training on their online portal called Refresh f.i.t. This free training provides customers with information regarding finances and money, as well as tips on building up your credit score.

  • You control your credit limit.

    The amount of security deposit you offer up will determine your monthly credit limit, which means you can control whether you have a high or low credit limit. Credit limits starts from a minimum of $200 to a maximum of $10,000.

  • Referral program.
    Receive $100 per successful referral after the person you referred has signed up and made their first payment.

What to watch out for

  • The monthly inactivity fee.

    There is a $2 charge per month if you don’t use your card. This means you will want to charge at least something to your card account each month to avoid this fee.

  • The annual and monthly fees.

    The Refresh Secured Card costs $12.95 a year, however there is also an additional fee of $3 per month for the card. Factor this into the annual cost of the card, which is $48.95 instead of $12.95 a year.

  • It hurts to pay late.

    Paying off your balance in full means you can avoid interest rates. If you don’t pay in full, you’ll be looking at an interest rate of 17.99%.

Consider other cards if …

  • You have good credit.

    Since this card is a secured card, it is designed for people looking to improve their credit scores or curb their spending by setting their own credit limit based on the amount of money they can offer up as security for the card. If you have good credit, an unsecured card will likely serve you better since you’ll be able to earn rewards and won’t have to offer a security deposit for the card.

  • You want to earn rewards.

    This secured card doesn’t offer access to rewards like points per dollar spent, insurance coverage or cash back. If you’re looking to reap the rewards of your spending and you have fairly good credit, applying for a different credit card will likely be a better idea.

  • You travel frequently.

    Taking the Refresh Secured Card abroad will incur overseas ATM fee charges as well as a foreign currency conversion fee. Not to mention you won’t receive any points per dollar spent or insurance coverage for your trip. If you travel frequently, a travel rewards credit card will likely be better suited.

What should I know before I apply?

To apply for the Refresh Secured Card, you will need to meet the following criteria:

  • Be at least 18 years old, or the age of majority in your province or territory.
  • Don’t have an existing Refresh Secured Card or account or a pending application for one.
  • Haven’t applied for a Refresh Secured Card or account in the last 30 days.
  • Don’t have a Refresh Secured Card or loan account that hasn’t been in good standing in the last year.
  • Provide a security fund of $200 – $10,000 once approved for the card.

What credit score do I need?

There is no credit check required to get the Refresh Secured Card so there is no minimum credit required.

Required documents and information

  • Your full name and contact information.
  • Your social insurance number and date of birth.
  • Your employment details.
  • Your financial information, including any debts and assets.

What do customers say about the Refresh Secured Card?

Customers that use the Refresh Secured Card generally say positive things about the card, citing that it’s a great way to improve your credit score. The card has been praised for its relaxed eligibility criteria and easy approval process.

On the flip side, customers don’t say anything about the customer service team, so it’s difficult to speculate on the level of customer service offered. In addition, the card usually takes two to three weeks to arrive, which is longer than cards offered by banks and credit unions.

How to apply for the Refresh Secured Card

  1. Click ‘Go to Site’ at the top of this page to be directed to the Refresh Secured Card application.
  2. Complete the application with information including your full name, home address, income and employment details.
  3. Review and submit your application.

How long will it take to get my Refresh Secured Card?

Filling out the online application takes about 15 minutes. You will need to provide your personal and financial details, as well as some documents. From there, you will need to provide a deposit in order to receive your secured card.

Once your application has been approved and your deposit has been received, you’ll typically receive your card in the mail within two to three weeks.

I got the card. Now what?

  • Make your repayments.
    Register for an account on the Refresh Financial website to pay your balance online and enroll in autopay. Failing to pay off your entire balance each month will result in an interest rate of 17.99%.
  • Avoid fees.
    Similar to other cards, there are certain fees that you need to be aware of such as overlimit and ATM transactions fees. Being mindful of these fees will help you adjust in using your card to completely avoid paying these fees.
  • Contact Refresh Financial.
    If you’re unable to find what you need on the Refresh Financial website, call 1-800-746-4840 to speak with a customer service representative.

Bottom line

The Refresh Secured Card is a powerful card if you’re looking to increase your credit score or apply for a card that doesn’t require a credit check. Although you’ll need to provide a security deposit in order to receive the card, this card can help you control your spending and work on building up your credit score.

However, if you’re looking to receive rewards from your spending or you’re looking to do a balance transfer, you may want to consider a different card. In addition, this type of card is designed for those with poor credit, so if you pay off your balance consistently and are responsible with money, a secured card likely won’t benefit you.

Frequently asked questions about the Refresh Secured Card

*This card is owned and issued by DirectCash Bank pursuant to license by Visa International. The Visa Brand is a registered trademark of Visa International.
Pictures: Refresh Financial

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