Plastk Secured Visa

The Plastk Secured Visa Credit Card is Canada’s first secured credit card with credit insights and a premium rewards program. It is designed solely for those with limited or no credit including students (Plastk Student Secured Card), young adults, or new immigrants. It can also help those with tarnished credit as well, as it gives access to free monthly credit reporting powered by Equifax. Thus credit insights provide the tools and knowledge needed to control your credit in full. Each purchase made with this innovative startup card is rewarded with points and cash back. You will also get premium rewards for referrals. Moreover, the card comes with an introductory offer as well as bonus cash back. However, make sure you are aware of the annual fee and monthly maintenance fee before you sight for it.

What are Plastk Secured Credit Card benefits?

• Introductory offer. New cardholders will receive 0% APR for 3 months and 5,000 Plastk bonus rewards after account opening.
• Premium rewards program. You can earn reward points on everyday purchases and when referring your friends, family members, or coworkers.
• Credit reporting. The Plastk reports your credit monthly to Equifax* and helps improve your credit score.
• Supports Vancouver Canucks. The Plastk Secured card is the preferred partner of the Vancouver Canucks
• Fast application. The application process for the Plastk a card is quick, easy, and done online within a few minutes.
• Worldwide acceptance. The Plastk card is a secured Visa credit card and widely accepted worldwide. However, keep in mind that the card has a high foreign transaction fee for purchases made outside Canada or in other currency than Canadian Dollars.

Are there any Drawbacks?

• High annual card price. The card’s annual price is $120. You will be paying the annual fee, which is set to $48, and a monthly maintenance fee of $6 ($72/yr).
• High foreign transaction fee. The card has a foreign transaction fee of 3.50%, which is well above the industry average.

Should you get the Plastk Secured Credit Card?

If you have limited, bad, or damaged credit, have the possibility to provide the minimum deposit required for approval ($300), want to have access to your credit score and credit building knowledge base you should definitely apply for the Plastk Secured Card. The good point is that the application is fast and easy, thus premium rewards are highly appealing. However, there is an annual fee and monthly maintenance fee that you need to cover if you decide to be part of the Plastk family.

Plastk Card Competition

• MogoCard with Mogo Credit Monitoring
• Refresh Secured Visa

Frequently Asked Questions