The Refresh Financial Secured Visa not only lets you build your credit, but gives you a valuable financial education at the same time.

Annual Fee
Extra Card Fee
Card Type
Cash Advance
Balance Transfer
Personal Income
Household Income
Canadian resident who has reached the provincial age of majority.
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Refresh Financial Secured Visa review

Have a poor credit score, and need some help getting it improved? The Refresh Financial Secured Visa can help. As a secured credit card, you have guaranteed approval, and you’ll get a credit card that you can use to help rebuild your credit score.

Here's the details on this card.

How to get a Refresh Financial Secured Visa

So how do you go about getting a Refresh Secured Visa? Simply complete an application form. But since it's a secured credit card, you'll also be required to submit a security deposit before a card will be issued to you.

The security deposit is why this card has guaranteed approval, and the amount of the security deposit you provide becomes your credit limit. Your deposit can be as little as $200, all the way up to $10,000. Your deposit covers Refresh in case you don't pay your credit card bill – they've got your security deposit as collateral.

When you go to close your account, and it's in good standing, your security deposit gets refunded to you.

Benefits of having the Refresh Secured Visa

So what kind of benefits can you expect to get with this card?

It's a secured credit card, so you won't be earning any rewards on your purchases. But that's not the purpose of this card. The whole point of a secured credit card is to help you improve your credit score.

But there are a couple of benefits this card provides.

First are the interest rates. Instead of the typical 20%+ interest rates you see on most credit cards, it has a slightly lower rate of 17.99% on cash advances and purchases.

The second is free financial coaching. With Refresh f.i.t, you'll gain access to a series of videos that will help you with every aspect of your finances.

Finally, you can access your credit score and report for free from your Refresh dashboard. You'll be able to keep track of the progress you're making towards improving your credit score.

The downsides

Are there any downsides? Unfortunately, there’s one.

And it's a big one. You’re going to have to pay some fees to keep this card in your wallet.

First, there's an annual fee. You'll pay $12.95 every year you have the card.

There's also a monthly maintenance fee of $3. Keep the card for a year, and that's another $36 you have to pay.

Altogether, in 1 year you'll pay $48.95 in fees. While it's not that much, every dollar helps.

There's also no complimentary insurance provided with this card, and it doesn’t earn you any sort of rewards at all.

Our own user reviews are also not kind to this card. You can see the issues others have head by clicking on the "Reviews" tab above.

A no annual fee secured credit card alternative

Want to improve your credit score for no annual fee? Then consider the . This card still has the benefit of helping to improve your credit score, but you'll save on fees which you can keep in your pocket instead.

The minimum security deposit required is $500, but it does include purchase protection insurance, and a slightly lower foreign exchange fee of 2% (compared to the usual 2.5%).

The benefits are different, but you'll pay no fees with this card.

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