Plastk Secured Credit Card Review 2024

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Written By
Julija A.
July 01, 2023
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A poor credit score significantly narrows your options when looking for credit. That’s why finding a way to improve your score first may be your only option. One way to attain a better score is by acquiring a secured credit card.

Secured cards are specifically designed for people with poor or no credit history. They work like regular, unsecured credit cards but require a security deposit that's typically equal to your credit limit. 

In this article, we’ll take a look at Plastk Visa Secured Credit Card. We’ll review general information about the product, compare it to similar products, provide an overview of Plastk reviews on Trustpilot, and more.

Regular APR:

No interest on purchases for 25 days

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Fortunly Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

0% APR for 3 months + 5,000 bonus reward points
pros thumb up Strengths
  • Great way to build credit score
  • Premium rewards
  • Generous welcome offer
  • No interest on purchases for 25 days
  • Free monthly access to the credit score
  • No minimum amount to take advantage of the cashback rewards
pros thumb up Weaknesses
  • High annual fee
  • Charges a monthly maintenance fee

Plastk Visa® Secured Credit Card Overiew

Plastk Financial was founded in 2018 with the simple goal of providing everyone with the opportunity to boost their poor credit scores while enjoying the benefits unsecured credit cards offer.

The company prides itself on offering the first and only secured credit card with premium rewards in Canada. It also allows users to view their credit scores every month for free. 

How Does Plastk Compare to Other Secured Credit Cards?

Plastk Secured Credit Card Logo
Plastk Secured Credit Card
Regular APR:


Annual fee:


Neo Mastercard® Secured Credit Card Logo
Neo Mastercard® Secured Credit Card
Regular APR:


Annual fee:


Capital One Guaranteed Secured Mastercard® Logo
Capital One Guaranteed Secured Mastercard®
Regular APR:

19.8% (21.9% for cash advances)

Annual fee:


Prerequisites for Applying

Given that this is a secured credit card, it comes as no surprise that there aren’t many eligibility requirements. Namely, the prerequisites are that you’re a Canadian resident and you’re 18 or older. Of course, you need to be able to pay the minimum deposit, which is $300, but that’s all.

Plastk Rewards

What sets Plastk apart from the competition is the rewards it offers. Firstly, there is a welcome offer which gives each first-time customer 5,000 Plastk bonus reward points, and three APR-free months. 

It’s not only new Plastk customers who get rewarded, as there are premium rewards for everyone. Namely, you earn points by making purchases with the card.

The points can be used to get cash back, pay for your flights, buy gift cards and merchandise, and donate to charity. When it comes to cashback, there is no minimum to get started. For 250 points, you get $1.

Plastk APR and Fees

As with most credit cards, using a Plastk Secured Credit Card comes at a cost. First of all, there is a 17.99% interest rate. This is not the cheapest APR we’ve seen, but there are many other secured credit card issuers that charge more.

There is an interest-free grace period on purchases which lasts for 25 days and a three-day grace period on cash advances. However, you should keep in mind that if you fail to make two payments, the APR increases to $29.99.

Plastk cardholders must pay a maintenance fee of $6 per month, which is not the case with some other secured cards. One of them is Neo Mastercard® Secured Credit Card, and it also doesn’t charge an annual fee, but it does have a higher APR. For a full comparison, you can read our review of Neo Mastercard® Secured Credit Card.

Apart from the monthly maintenance fee, there is also a conversion fee amounting to 4.5% and a $4.75 fee for international point-of-sale transactions.

Plastk App

It appears that Plastk invested substantially in the mobile app design, which does look quite impressive. On top of that, the interface is intuitive, allowing users to effortlessly navigate through the app. All in all, mobile users will have no trouble finding their way around this handy application.

Plastk User Experience

Plastk reivews on Trustpilot indicate that this credit card issuer has a large number of satisfied customers. The users cited the easy application process and quick transactions as some of the reasons they found this card worthwhile. They also praised the Plastk reward points system, claiming it’s easy to accumulate points.

It should be noted, though, that some users reported negative experiences. For instance, one customer complained that it had been two weeks and they still hadn’t received their card. On top of that, the customer service told them they would need to wait another two weeks.

However, the Plastk staff responded to the comment informing the customer that there had been a delay due to an issue with the manufacturer, which had since been resolved. The company also noted that the usual time it takes to receive the card is 10-15 business days upon verification of the customer’s security funds.

Plastk Customer Support

Plastk customer support is available via email, phone, and live chat. There is also a comprehensive FAQ section where users can search for solutions to the issues they might have encountered. The customer support agents are polite and helpful and quick to respond to queries.

While they aren’t available 24/7, the office hours are pretty long, and they also work during the weekend. For instance, on Saturdays and Sundays, you can contact them from 8 a.m. to 12 a.m, which we don’t see often with other companies, as their agents usually have shorter hours on Saturdays and aren’t available on Sundays.

We would like to point out that although the live chat feature is rather handy, it was difficult to find on the Plastk website. It didn’t appear when we clicked on the Contact Us button but when we selected the Login option. Other than that, we have no complaints about the customer service.

Reasons To Opt for Plastk Secured Credit Card

As is evident from our Plastk review, there are numerous reasons you might want to opt for the Plastk Secured Credit Card. First, it offers a great rewards program that lets you rack up points quickly. There is also an attractive welcome offer.

Another great thing about the Plastk card is that its relatively low APR. At 17.99%, it's not the lowest out there, but it's still competitive. Additionally, there is an interest-free grace period on purchases of 25 days and a three-day grace period on cash advances. The customer service is also quite satisfactory.

Reasons To Look Elsewhere

There are some drawbacks to Plastk, one being that it has a number of fees, including a $4.75 fee on international POS transactions and a 4.5% conversion fee. Additionally, the card has a $6 monthly maintenance fee, which some other secured credit card issuers don’t charge.

The minimum deposit is $300, which we consider quite high. To compare, the minimum deposit for the Capital One Guaranteed Secured Mastercard® is $75. However, keep in mind that some other secured credit card companies impose an even higher minimum deposit, which can be as much as $500.

If you find that Plastk credit card isn’t for you, you may check out some of the other top-notch secured credit cards that might be more suitable for you.

On a Final Note

If you're looking for a Canadian secured credit card with great rewards and a competitive APR, Plastk is certainly worth considering. However, you should look into all the fees associated with the card before applying. 

While there are many perks to this card that balance out the additional fees other credit card issuers may not charge, it’s still up to you to weigh the pros and cons and then make the final decision.


What is Plastk Sentinel?


Plastk Sentinel is a desktop and mobile platform that enables users to keep track of their credit.

Are secured credit cards accepted everywhere?


Secured credit cards can be used wherever specific credit cards are accepted. For instance, if you have a secured Visa credit card, you can use it in places that accept Visa cards. 

Is Plastk legit?


Yes, Plastk is a legit secured credit card issuer. Many positive Plastk reviews corroborate that this is a reputable company with a large number of satisfied customers. 

Does Plastk report to credit bureaus?


Yes, Plastk reports to credit bureaus every month. You may request a free Equifax report which contains your credit score.