One of the biggest perks to having a credit card — besides being able to shop online — is the ability to collect rewards points with every purchase you make. While not all credit cards allow cardholders to earn points, many of them do. Once you’ve accumulated enough points, you can redeem them for travel purchases, merchandise, and other products and services.
Getting approved for a credit card can be tough if you don’t have the income nor the credit score needed to qualify. Luckily, there are secured credit cards available that work very much like a credit card, except, you’re required to top up the card with your own money before you can shop with it.
There are some drawbacks to secured credit cards; namely, they don’t typically come with a rewards system that allows you to collect points with every expenditure. That is until the Plastk Secured Credit Card came around.
With this secured credit card, you can easily get approved regardless of your credit score while taking advantage of points collection and redemption.
Let’s take a closer look at Plastk to help you determine if this is the right type of secured credit card for you.
Plastk is a secured Visa credit card. With a secured card, cardholders must fund the account with a certain amount of money before it can be used.
While the average secured credit card does not offer much in the way of rewards, Plastk is the only secured credit card that offers cardholders a premium rewards program. With every purchase made, you can earn points that can later be redeemed.
At the same time, you can build your credit score with every timely bill payment you make since your payments are reported to the major credit bureaus and noted on your credit report. Over time, this can help establish and build your credit score, and eventually, you may be able to qualify for a traditional unsecured credit card.
The Plastk Secured Credit Card is ideal for those who are having a tough time getting approved for a conventional credit card due to bad credit or low income. Students and new Canadians may also find Plastk a good option for similar reasons.
Every dollar you spend earns you at least 1 point, which can be redeemed toward any of the following:
| Purchase interest rate | 17.99% |
| Cash advance rate | 21.99% |
| Balance transfer rate | N/A |
| Sign up bonus | 5,000 points |
| Annual fee | $48 |
| Monthly maintenance fee | $6 |
The Plastk Secured Credit Card comes with a slew of benefits, including the following:
Before you apply for the Plastk Secured Credit Card, it’s important to consider some of its drawbacks as well:
Tired of secured credit cards? Make the switch and get a regular credit card.
Applying for the Plastk secured card is easy and requires you to follow 4 simple steps:
In order to be eligible for the Plastk Secured Visa credit card, you’ll need to meet the following criteria:
If you have poor credit and are struggling to get approved for a traditional credit card, then the Plastk Secured Credit Card may be perfect for you. Not only will it allow you to spend as if you have a traditional credit card, but it can also help you build credit while earning rewards points at the same time.
*Visa International and Digital Commerce Bank do not provide any of the services or benefits related to the Plastk rewards program. The terms and conditions applicable to these services or benefits are contained in the agreement between you and Plastk Financial & Rewards Inc.
All credit Issued by Plastk Financial & Rewards Inc. This card is owned and issued by Digital Commerce Bank, pursuant to license from Visa International. Use of the card is governed by the agreement under which it is issued. The Visa Brand is a registered trademark of *Visa International.
Lisa has been working as a personal finance writer for more than a decade, creating unique content that helps to educate Canadian consumers in the realms of real estate, mortgages, investing and financial health. For years, she held her real estate license in Toronto, Ontario before giving it up to pursue writing within this realm and related niches. Lisa is very serious about smart money management and helping others do the same.
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