Credit can be a scary word. But, the good news is, it really doesn’t have to be! In fact, it’s now easier than ever to build, rebuild, or strengthen your credit in Canada thanks to this Calgary-born start-up. Plastk is the country’s first secured credit card that actually helps your credit and offers premium rewards. And guess what? It was founded right in Calgary and has been named preferred partner of the Vancouver Canucks. Seriously, can it get more Canadian than this?
Founder Motola Omobamiduro came up with the idea for Plastk while owning a pre owned car dealership in Calgary. He found that many well-meaning people were facing difficulties to improve their credit rating due to previous missteps. On top of that, he realized how hard it was for young people, students specifically, to build their credit history in a reasonable way. And the final key to Motola’s credit castle was the fact that the best rewards programs were reserved for exclusive cards.
That’s where Plastk was born. Motola envisioned a credit card to not only give people a chance to understand & improve their credit, but also a chance to get premium rewards perks that aren’t usually available for products like this.
So, here’s the scoop on Plastk.
First off, let’s get to secured credit cards. A secured credit card is a card that is secured by a cash deposit that’s used as collateral, so the card is only issued after a certain amount is paid. That amount usually acts as the credit limit of the card. Secured credit cards are great for customers who are looking to build, rebuild, or even just strengthen their credit profile.
Plastk offers one of the lowest interest rates in the market, at only 17.99%. Combined with an annual fee of only $48, a 25 day grace period with no interest, and being powered by Equifax, Plastk creates an easy, affordable, and accessible way for you to strengthen your credit.
All of these reasons make secured credit cards great, but they typically don’t come with the best rewards programs, if any at all. That’s where Plastk comes in. Plastk is the only secured credit card in Canada that offers a premium rewards program. They believe that everyone deserves access to premium rewards, and for that, we thank them.
Plastk’s reward program allows cardholders to earn points with their purchases to redeem for cash, exclusive member events and other perks. Plus, all new cardholders automatically received 5,000 bonus rewards points* and 0% interest rate for 3 months* (conditions apply). Can we get a heck ya?
And, we didn’t even mention the best part about rewards! You can actually use the points you earn to pay your balance. 250 points equals $1, and you just need a minimum of 2,500 points to redeem.
So stay tuned on Plastk’s IG for exciting news about their partnership with the Vancouver Canucks, and check out their site for how to get approved today. And don’t forget to keep an eye on Canucks home games, ‘cause you might just see Plastk up on the big screen!
Well friends, sounds like a pretty simple way to help strengthen and build your credit, while also supporting a Canadian startup. Happy spending!
*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.
¹ “Equifax Canada Co. (“Equifax”) is a registered Canadian credit bureau that maintains your Canadian consumer credit file, which has been used by Plastk Financial & Rewards Inc. as permitted by you, to provide you with your educational Equifax credit score. The Equifax credit score provided here is current as of the date indicated by Plastk Financial & Rewards Inc. ”
² “the Equifax Risk Score is based on Equifax’s proprietary model and may not be the same score used by third parties to assess your creditworthiness. The provision of this score to you is intended for your own educational use. Third parties will take into consideration other information in addition to a credit score when evaluating your creditworthiness.”
Read more in Lifestyle
Want more? Subscribe to our newsletter for exclusive deals, stories, info & more!