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chatr Secured Mastercard®
Credit cards

chatr Secured Mastercard®

Updated 29.11.2022

About chatr Secured Mastercard

The chatr secured Mastercard features guaranteed approval and a $60 annual fee. This card is considered a good option for people who want to build a credit history.

Purchases with chatr Secured Mastercard are rewarded with cashback.

In addition, the card can be upgraded to a chatr Mastercard if the cardholder meets the eligibility criteria.

chatr Secured Mastercard features

chatr secured Mastercard offers guaranteed approval if the applicant meets the basic requirements.

Spending on Rogers and Chatr products with the Chatr secured Mastercard is rewarded with 1% cashback. Other spending will be rewarded with 0.5% cashback. The chatr secured Mastercard is a good option for students and people who have recently obtained Canadian citizenship or permanent residency, allowing them to open a personal account at a Canadian bank.

Since it is a secured credit card, it requires an initial deposit of up to $2,500. The amount deposited determines the credit limit of the cardholder. However, the annual fee is not high: $5 per month, equal to $60 annually.

The chatr secured Mastercard has a fraud protection feature enabled through transaction monitoring and alerts to the cardholder. Although it is a prepaid credit card, it has zero liability and balance protection. 

There is no information that Chatr Secure Mastercard has a cap on receiving cash back rewards, so this would depend on spending within the limit or your available funds.

It is convenient to manage the card using a mobile App, seeing what amount is due and when, the minimum payment amount, collected cash back, and the possibility of redeeming it.

Pros and cons

The key benefits of chatr secured Mastercard are the following:

  • guaranteed approval even without credit history;

  • 1% cash back on spending in the Rogers’ or Chatr system;

  • 0.5% cash back on other purchases;

  • a convenient mobile App;

  • a tool to build a credit history.

There are some drawbacks of chatr secured Mastercard;

  • it is available for Canadian citizens and permanent residents;

  • a guarantee deposit is required, and once it is made, it determines the credit limit, which can not be flexibly changed right away;

  • the security deposit can amount to $2,500;

  • it has an annual fee.

How to apply for a chatr Secured Mastercard

Rogers Bank allows you to apply for a chatr secured Mastercard online. 

The applicant is required to enter the following information:

  • first name;

  • last name;

  • contact details;

  • birth date;

  • residential address;

  • social insurance number (SIN);

The chatr secured Mastercard is promoted as a guaranteed approval card, but at the same time, the applicant must meet the basic eligibility criteria:

  • Canadian citizenship or permanent resident status;

  • being at the age of majority within the province legislation;

  • legal capacity to sign documents and enter into contracts;

What credit score is required to be approved for a chatr secured Mastercard?

This credit card is intended to build credit scores, so no credit score, no credit history, or bad credit score, which would be considered a hindrance by other card issuers, would not hinder getting chatr secured Mastercard.
Does the chatr secured Mastercard have a credit limit?Yes, the credit limit is established based on the guarantee deposit, which is equal to the initial deposit amount credited by the cardholder.
Is it possible to upgrade chatr secured Mastercard to chatr Mastercard?Yes, once the cardholder meets the eligibility criteria, it is done automatically.

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