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Frequently Asked Questions
Let's start with the basics
How does a secured card work?
A secured card works like any other credit card, with one big difference: Your credit limit will be determined by the amount of money you put into a deposit account to guarantee the credit line.
Does EP Financial have a mobile app?
Yes – our EP Financial mobile app can be found in both the Apple App and Google Play stores.
What is a secured card?
A secured credit card is often recommended for anyone who has trouble getting a traditional credit card due to an unestablished credit history or a damaged credit score. A secured credit card functions very much like an unsecured credit card; the major difference is that you’re required to make a deposit against the card’s credit limit in order to access funds through the card. Your credit limit will be the same as your deposit amount.
Who is Everyday People Financial?
EP Financial is a Canadian-based Fintech founded on the belief that everyone deserves access to credit, instant payments and the opportunity for homeownership. Our team of financial service experts is dedicating ours lives to helping everyday people become their best financial self.
How long does it take to create an account?
The application and approval turnaround times are fast, but their completion depends on the response time of clients to apply a security deposit to establish the account.
Why do I need to provide identification?
In order to ensure EP Financial is compliant with Canadian financial regulations, we are required to know our clients and validate their identity.
What if I do not have any credit history?
You don’t need an established credit history to get an EP Financial Secured Credit Card. If you do not have any credit, a secured card is the perfect start for you. Not only will you learn how credit works and how to use it responsibly, you’ll also build your credit history by using it and making payments on time.
What other products are available?
We currently offer a home facilitation product through our EP Homes program called “Bridge to Own™” and a health and wellness financing product called EP Care. We also have several other products in development to assist our expanding client base.
How can I contact EP Financial?
You can email us at [email protected], or simply call us at 1-888-825-9808 to speak to one of our client support agents.
Do you have branches?
No, EP Financial is a Fintech that operates through a proudly Canadian call center.
Using your card
Dive deeper into the details
When will my card arrive?
Your card and PIN are sent to you separately through the mail, via Canada Post. Once you have fulfilled the security deposit requirement of the card, we will immediately ship your card. Delivery through Canada Post will take roughly 5-15 business days.
Is there a limit on my card?
The limit on your EP secured card will be equal to the amount of the security deposit you pay towards the card. You can raise the limit on your card by increasing the security deposit. The minimum limit on a secured card is $300 and the maximum limit is $5,000.
Where can I use my card?
Anywhere Visa is accepted.
Does the card have any fees or interest?
You can view the full list of card fees here.
– Page 2 of the card agreement: https://www.epfinancial.com/static/EPFINANCIAL%20CARDHOLDER%20AGREEMENT-86fd5db41ecbd37e62959a5f70b5f36e.pdf
Can I withdraw money from my secured card?
Yes, once your card is activated, you can withdraw money from your EP Secured Credit Card through any applicable ATM by using your card’s PIN number.
How does the secured card help me improve my credit?
It’s easy. Simply use your card for regular day to day expenses. Make your monthly payments on or before your due date, every month. EP Financial will report your account and your payment status to two major credit bureaus. This will help you on your way to building up a positive credit history.
How can I increase/decrease my limits?
To learn more about increasing or deceasing your credit limit, simply reach out to one of our client support representatives at [email protected] for more details.
Deposit, bill payments, and more
How do I pay my security deposit?
You can pay your security deposit through any major bank or credit union as a bill payment or by sending a money transfer via email. Talk to one of our client support agents if you need any assistance with this important step.
Do I get my deposit back?
Yes, you will get your deposit back if you close your EP Secured Credit Card, after any outstanding account balances are paid in full. Reach out to one of our client support representatives at [email protected] for more details.
How do I pay my card statement?
You can pay your card statement through any major bank or credit union as a bill payment or by sending an email money transfer. Reach out to one of our client support representatives at [email protected] for more details.
Can I pay bills with my secured card?
Yes, you can use your card to pay most bills, such as utilities, cell phone, health insurance, car and home insurance, and subscription services. Simply login to your EP Client Portal and select “Pay Bill”. Reach out to one of our client support representatives at [email protected]ancial.ca for more details.
Do you report my payments to the credit bureau?
Yes, EP Financial reports all payments to two major credit bureaus, to help our clients improve and build their credit.
How long does it take for a payment to apply to my account?
When making a payment to your EP secured card, it is important to account for processing time. Depending on your financial institution, a bill payment transaction may take up to 5 business days to process.
Take a look into your account details
Can I change my card’s PIN?
At this time, PIN numbers cannot be changed, but this feature is coming soon! If you lose or forget your PIN, reach out to one of our client support agents at [email protected] for assistance.
What if I forget my EP Client Portal password?
Click on the “Forgot Password” link available on the EP Client Portal login page. Reach out to one of our client support agents at [email protected] for more details.
How do I change my EP Client Portal password?
Login to the EP Client Portal, go to “Settings”and select “Security (Change Password)”. Or, you can use the “Forgot Password” link on the EP Client Portal login page. Reach out to one of our client support representatives at [email protected] for more details.
How do I update my contact information?
Login to the EP Client Portal, go to “Settings” and chose “Profile”. Here you can update your contact and personal information. If you need any assistance, please give us a call at 1-888-825-9808 to update your contact information.