Unsecured options to build credit during a consumer proposal.
Hi everyone! This is my first ever Reddit post by the way. Next month I will be filling a consumer proposal, I am just waiting for the trustee to come back on vacation. Like many other people in this situation I would like to build my credit again during this time but I am in a pickle. Currently I do have two secured credit cards with a total of 500$ limit since December. Neo Financial made it clear to me that they do not have a determined amount of time when I will be offered an unsecured credit card and it may take years or it may never happen at all and I have to wait 6 years when everything is all said and done and apply on my own. I have thought about it heavily and at length that I do not want to wait years and this 500$ is not life changing money but it can be helpful and I do not like this idea about being locked for an undetermined amount of time. Since December as well I have subscribed to the KOHO credit building program and when the proposal will be filed I will subscribe to another credit building program that I’m looking into. Here’s the deal as well. Capital One and Canadian Tire will be included in the consumer proposal and capital one I would have to wait one year after the proposal is filed to apply for a card from them and in that time frame it will most probably be secured as well so I was going to wait 2-3 years after the proposal is filed. I have heard through the grapevines that Canadian Tire does sometimes approve people during a consumer proposal and sometimes they don’t. Canadian Tire holds a majority debt load and it is a pretty significant amount so even though they do give out their credit cards like hot cakes I’m not expecting a miracle anyways. When the proposal will be filed I will close the two secured cards that I currently have and apply for the second credit builder. I refuse to lock away money and not knowing when I’ll get it back so I was wondering if there’s anybody out there with the same situation like me what unsecured options they had to rebuild their credit and the likelihood that Capital One, Canadian Tire and orang other bank (I heard Tangerine as well is easy) is forgiving and believes in second chances?
Posted Feb 21, 2026, 5:29 PM UTC