The top new immigrant credit cards not only help you establish credit for the first time but come with rewards, maximizing the value of every dollar.
Newcomers to Canada should start building credit right away. A strong credit score helps secure loans for homes or cars. As an immigrant, you can easily access special programs that make it easier for newcomers to get credit cards. Here are the best credit cards for newcomers in Canada. And don't forget to check out our Best Credit Cards Canada list when you're done.
Summary of picks
7 best credit cards for newcomers to Canada
Card name
Card details
Get started
Scotiabank Momentum No-Fee Visa Card
◦ $0 annual fee
◦ 1% cash back at gas stations, grocery stores, drugs stores, and on recurring payments.
◦ 0.5% cash back on all other eligible purchases.
◦ $0 annual fee
◦ 3x Scene+ points at Sobeys, Safeway, Freshco and more
◦ 2x Scene+ points¹ on dining; eligible entertainment purchases; eligible gas and daily transit; eligible select streaming services
◦ 1x Scene+ point on all other eligible everyday purchases.
◦ $0 annual fee
◦ 2x Scene+ points at Sobeys, Safeway, Foodland & Participating Co-ops, FreshCo and more; home hardware; Cineplex.
◦ 1x on all other eligible everyday purchases
◦ $0 annual fee
◦ 3% cash back on groceries (up to a monthly max of $500)
◦ 1% on any recurring bill payments* (up to $500 per month)
◦ 0.5% on all other eligible purchases*
◦ $48 annual fee
◦ No required annual income
◦ 1% cash back on groceries and transportation
◦ 2.5% interest earned on your account balance
◦ Free ATM withdrawals and e-transfers
💳 How can I get a credit card in Canada as a newcomer?
You can easily get a credit card as a newcomer in Canada as banks have special offers for all newcomers. Banks offer two main types of credit cards: secured cards, which require an initial deposit to cover any unpaid balance, and unsecured cards, which can be obtained without any deposit requirements. Canada’s top banks offer special programs specifically designed for the needs of immigrants, including providing them with access to unsecured credit cards. Access to unsecured credit cards is a privilege that other Canadians without credit history typically do not have.
If a new immigrant is only interested in obtaining a credit card and does not wish to join a bank’s complete banking program for new immigrants, they can obtain a secured card instead.
Best Scotiabank
Scotiabank's best no fee credit card for Canadian newcomers
Welcome Bonus: Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases); Plus, get a 0% introductory interest rate on balance transfers for the first 6 months. Expires Oct 31, 2025
The Scotiabank Momentum® No-Fee Visa* Card is a no-annual-fee credit card offering cash back on everyday purchases, with elevated rates for spending at gas stations, grocery stores, drug stores, and on recurring bill payments. It also routinely comes with a generous welcome bonus.
No annual fee: The card does not charge an annual fee, making it cost-effective for users.
Cash back rewards: Offers 1% cash back on eligible gas, groceries, drugstore purchases and recurring bill payments.
Welcome bonus: There is a welcome bonus of 5% cash back on up to $2,000 in eligible purchases within the first three months.
Promotional balance Transfer Rate: A promotional 0% annual interest rate on balance transfers for the first six months (with a 2% balance transfer fee).
Rental car discounts: Cardholders can save up to 25% off base rates at participating AVIS and Budget locations in Canada and the U.S.
Cons
Limited insurance: No included insurance coverage, though optional insurance bundles are available for a fee.
Low base rewards rate: After exceeding the $25,000 spending cap, the cash back rewards drop to a base rate of 0.5%.
Rigid redemption process: Cash back is accumulated monthly but can only be redeemed once annually in November.
Balance transfer fee: There is a 2% balance transfer fee when utilizing the promotional balance transfer rate.
Foreign transaction fee: The card charges a 2.5% foreign transaction fee on purchases made in a foreign currency.
Limited perks: Compared to other no-fee cards, the Scotiabank Momentum No-Fee Visa Card offers fewer perks and lower reward rates.
Annual Interest Rates
19.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
0.00%
Balance Transfer (Introductory)
Fees
$0
Annual Fee
$2.5
Foreign Transaction
$5
Cash Advance
$29
Over The Limit Penalty
Rewards
cash back
1%
Cash back at gas stations, grocery stores, drugs stores, and on recurring payments.
0.5%
Cash back on all other eligible purchases.
25%
Off base rates at Avid and Budget locations in North America.
Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases); Plus, get a 0% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $0).
The 5% Cash Back and Introductory 0% Balance Transfer Rate Offer (the “Offer”) applies only to new Scotiabank Momentum No-Fee Visa credit card accounts (“Accounts”) that are opened by October 31, 2025 and is subject to the terms and conditions. All other terms and conditions of the Program Terms continue to apply during the Offer Period. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
Our Take
The Scotiabank Momentum® No-Fee Visa* Card is a no-annual-fee credit card offering cash back on everyday purchases, with elevated rates for spending at gas stations, grocery stores, drug stores, and on recurring bill payments. It also routinely comes with a generous welcome bonus.
No annual fee: The card does not charge an annual fee, making it cost-effective for users.
Cash back rewards: Offers 1% cash back on eligible gas, groceries, drugstore purchases and recurring bill payments.
Welcome bonus: There is a welcome bonus of 5% cash back on up to $2,000 in eligible purchases within the first three months.
Promotional balance Transfer Rate: A promotional 0% annual interest rate on balance transfers for the first six months (with a 2% balance transfer fee).
Rental car discounts: Cardholders can save up to 25% off base rates at participating AVIS and Budget locations in Canada and the U.S.
Cons
Limited insurance: No included insurance coverage, though optional insurance bundles are available for a fee.
Low base rewards rate: After exceeding the $25,000 spending cap, the cash back rewards drop to a base rate of 0.5%.
Rigid redemption process: Cash back is accumulated monthly but can only be redeemed once annually in November.
Balance transfer fee: There is a 2% balance transfer fee when utilizing the promotional balance transfer rate.
Foreign transaction fee: The card charges a 2.5% foreign transaction fee on purchases made in a foreign currency.
Limited perks: Compared to other no-fee cards, the Scotiabank Momentum No-Fee Visa Card offers fewer perks and lower reward rates.
Annual Interest Rates
19.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
0.00%
Balance Transfer (Introductory)
Fees
$0
Annual Fee
$2.5
Foreign Transaction
$5
Cash Advance
$29
Over The Limit Penalty
Rewards
cash back
1%
Cash back at gas stations, grocery stores, drugs stores, and on recurring payments.
0.5%
Cash back on all other eligible purchases.
25%
Off base rates at Avid and Budget locations in North America.
Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases); Plus, get a 0% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $0).
The 5% Cash Back and Introductory 0% Balance Transfer Rate Offer (the “Offer”) applies only to new Scotiabank Momentum No-Fee Visa credit card accounts (“Accounts”) that are opened by October 31, 2025 and is subject to the terms and conditions. All other terms and conditions of the Program Terms continue to apply during the Offer Period. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
As its name would suggest, the Scotiabank Momentum® No-Fee Visa* Card is inexpensive because it does not come with an annual fee. It’s unsecured, meaning you won’t need to give the bank a cash deposit in exchange for a credit limit. The card also comes with a welcome bonus. With this card, you can earn points on essentials like gas, groceries, drugstore purchases, and recurring bills
Earn a solid 1% cash back on all eligible gas stations, grocery stores, drug stores purchases and recurring payments. And for those looking to manage existing debt, take advantage of the promotional balance transfer offer of 0% for the first 6 months on transfers made, albeit with a balance transfer fee.
However, the Scotiabank Momentum® No-Fee Visa* Card has its limitations. Non-essential spending rewards are lower at 0.5%, and the redemption process is somewhat inflexible, allowing redemption only once a year in November. Additionally, the card lacks comprehensive insurance coverage, although optional insurance can be purchased, and a 2.5% foreign transaction fee may not be ideal for travelers or those making purchases in foreign currencies.
Who should consider this card? If you appreciate maximizing your dollar's value and seek a practical credit card that aligns with your budget, the Scotiabank Momentum No-Fee Visa Card could be the right choice. It's especially beneficial if your regular expenses primarily consist of groceries, gas, and recurring bills. This card is also suitable for newcomers to credit cards, offering a simple way to build credit and earn rewards, as well as students looking for a cash-back card without an annual fee and with a low introductory rate on balance transfers.
Disclosures:
*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Scotiabank's best Amex card for Canadian newcomers
The Scotiabank Platinum American Express® Card is a premium travel rewards credit card offering elevated earn rates on all eligible purchases, with additional benefits such as complimentary airport lounge access and comprehensive travel insurance. It charges no foreign transaction fees and provides access to exclusive events.
Earn up to three Scene+ points on everyday spending.
Earn points across five different categories, including food, travel, entertainment and streaming.
No annual fee.
Cons
The welcome bonus is lower compared to other rewards cards.
American Express isn’t accepted everywhere.
Limited insurance coverage.
Annual Interest Rates
19.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
$2.5
Foreign Transaction
Rewards
Scene+
3x
Scene+ points on every $1 you spend at Sobeys, Safeway, Freshcoand more
2x
Scene+ points for every $1 you spend on restaurants, fast food, drinking establishments and other eligible grocery stores. Includes popular food delivery and food subscriptions.
2x
Scene+ points for every $1 you spend on eligible entertainment purchases. Includes movies, theatre and ticket agencies stores.
2x
Scene+ points for every $1 you spend on eligible gas and daily transit. Includes ride shares, buses, subway, taxis and more
2x
Scene+ points for every $1 you spend on eligible select streaming services
4x
Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
Insurance Benefits
$500
Mobile device insurance amount
Earn up to 5,000 bonus Scene+ points within your first 3 months (that’s up to $50 towards travel).
To qualify for these offers make sure to open a new Scotiabank American Express credit card account (“Account”) between November 1, 2024 and July 1, 2025.
To qualify for the 5,000 bonus Scene+ points offer:
1. Earn 2,500 bonus Scene+ points by making at least $250 in everyday eligible purchases in your first 3 months.
2. You are eligible to earn an additional 2,500 Scene+ point bonus when you spend at least $1,000 in everyday eligible purchases in your first 3 months.
Once you qualify, we’ll credit your account in 2 instalments:
1. 2,500 bonus Scene+ points will be credited to the applicable account approximately8 weeks following the qualifying $250 in eligible purchases being posted to your Account within the first 3 months of Account opening.
2. An additional 2,500 bonus Scene+ points will be credited to the applicable Scene+ membership account approximately8 weeks after the qualifying $1,000 in eligible purchases being posted to your Account within the first 3 months of Account opening.
Note: For joint Accounts, the applicable bonus will be credited to the Scene+ account linked to the Account of the borrower that completed the last transaction to meet the qualifying amount of eligible purchases in the case of the 2,500 Point Bonus and the Additional 2,500 Point Bonus.
Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for this offer.
See terms and conditions for full details.
Our Take
The Scotiabank Platinum American Express® Card is a premium travel rewards credit card offering elevated earn rates on all eligible purchases, with additional benefits such as complimentary airport lounge access and comprehensive travel insurance. It charges no foreign transaction fees and provides access to exclusive events.
Earn up to three Scene+ points on everyday spending.
Earn points across five different categories, including food, travel, entertainment and streaming.
No annual fee.
Cons
The welcome bonus is lower compared to other rewards cards.
American Express isn’t accepted everywhere.
Limited insurance coverage.
Annual Interest Rates
19.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
$2.5
Foreign Transaction
Rewards
Scene+
3x
Scene+ points on every $1 you spend at Sobeys, Safeway, Freshcoand more
2x
Scene+ points for every $1 you spend on restaurants, fast food, drinking establishments and other eligible grocery stores. Includes popular food delivery and food subscriptions.
2x
Scene+ points for every $1 you spend on eligible entertainment purchases. Includes movies, theatre and ticket agencies stores.
2x
Scene+ points for every $1 you spend on eligible gas and daily transit. Includes ride shares, buses, subway, taxis and more
2x
Scene+ points for every $1 you spend on eligible select streaming services
4x
Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
Insurance Benefits
$500
Mobile device insurance amount
Earn up to 5,000 bonus Scene+ points within your first 3 months (that’s up to $50 towards travel).
To qualify for these offers make sure to open a new Scotiabank American Express credit card account (“Account”) between November 1, 2024 and July 1, 2025.
To qualify for the 5,000 bonus Scene+ points offer:
1. Earn 2,500 bonus Scene+ points by making at least $250 in everyday eligible purchases in your first 3 months.
2. You are eligible to earn an additional 2,500 Scene+ point bonus when you spend at least $1,000 in everyday eligible purchases in your first 3 months.
Once you qualify, we’ll credit your account in 2 instalments:
1. 2,500 bonus Scene+ points will be credited to the applicable account approximately8 weeks following the qualifying $250 in eligible purchases being posted to your Account within the first 3 months of Account opening.
2. An additional 2,500 bonus Scene+ points will be credited to the applicable Scene+ membership account approximately8 weeks after the qualifying $1,000 in eligible purchases being posted to your Account within the first 3 months of Account opening.
Note: For joint Accounts, the applicable bonus will be credited to the Scene+ account linked to the Account of the borrower that completed the last transaction to meet the qualifying amount of eligible purchases in the case of the 2,500 Point Bonus and the Additional 2,500 Point Bonus.
Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for this offer.
See terms and conditions for full details.
Looking for a rewarding credit card option as a new immigrant in Canada? Consider the Scotiabank American Express Card, tailored for those who want to earn Scene+ rewards without dealing with annual fees. Despite being fee-free, this card boasts an impressive rewards structure that rivals pricier options. Earn 3 points for every dollar spent at select grocery stores like Foodland, Sobeys and FreshCo, and 2 points for every dollar spent on dining, entertainment, gas, ridesharing, and streaming services. This card also offers mobile device insurance, typically reserved for premium cards, along with car rental discounts and a generous welcome bonus of Scene+ points, based on spending requirements.
Who's this card for? It's ideal for newcomers to the credit card world, especially young adults who've been building credit with basic offerings from their banks. If you're keen on exploring credit card rewards without committing to an annual fee, this card is for you. While its welcome bonus might not be the highest, the focus here is on starting your rewards journey affordably.
Key benefits:
◦ Up to 3x points per dollar spent.
◦ Mobile device insurance.
◦ Extended warranty protection and purchase security.
Insurance coverage:
In addition to mobile device insurance, enjoy purchase security, and extended warranty protection. Optional insurance packages are available for additional coverage.
If you're seeking a no-fee card with solid rewards and essential insurance coverage, this card offers a practical option. However, if you prioritize premium features like travel insurance and lounge access, you might consider other options.
Disclosures:
Conditions Apply. Visit here for the Scotiabank American Express® Card to learn more. *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Scotiabank's best Scene+ credit card for Canadian newcomers
want to collect SCENE points on everyday purchases
want a flexible rewards program
Annual Fee & Annual Interest Rates
$0
Annual Fee
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Our Take
The Scotiabank® Scene+™ Visa* Card is a no-annual-fee credit card designed for individuals who spend less than $10,000 annually, including students and those seeking to redeem rewards frequently without significant spending. It offers Scene+ points on everyday purchases, with elevated rates at Cineplex theatres and select grocery stores, making it ideal for moviegoers and frequent shoppers at participating retailers.
Generous rewards with 2X points at Cineplex and grocery stores
Low redemption thresholds for various rewards
7,500 bonus Scene+ points as a sign-up bonus
Points don't expire
Cons
Limited earning potential for high spenders
Limited travel-related benefits compared to travel cards
Focus on entertainment and dining rewards may not suit all users
Limited sign-up bonus compared to cards with annual fees
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
$2.5
Foreign Transaction
Rewards
Scene+
2x
Scene+ points on every $1 you spend at Sobeys, Safeway, IGA, Foodland, participating
Co-ops, Freshco and more
2x
Scene+ points for every $1 you spend on Home Hardware, Home Building Center, Home Furniture locations in Canada and online at homehardware.ca
2x
Scene+ points for every $1 you spend at Cineplex theatres or online at cineplex.com
4x
Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
Earn up to 7,500 bonus Scene+ points within your first 3 months.
To qualify for these offers make sure to open a new Scotiabank Scene+ Visa credit card account (“Account”) between November 1, 2024 and March 2, 2025.
To qualify for the 7,500 bonus Scene+ points offer:
1. Earn 2,500 bonus Scene+ points by making at least $250 in everyday eligible purchases in your first 3 months.
2. You are eligible to earn an additional 5,000 Scene+ point bonus when you spend at least $1,000 in everyday eligible purchases in your first 3 months.
Once you qualify, we’ll credit your account in 2 instalments:
1. 2,500 bonus Scene+ points will be credited to the applicable Scene+ membership account approximately 8 weeks after the qualifying $250 in eligible purchases being posted to your Account within the first 3 months of Account opening.
2. An additional 5,000 bonus Scene+ points will be credited to the applicable Scene+ membership account approximately 8 weeks after the qualifying $1,000 in eligible purchases being posted to your Account within the first 3 months of Account opening.
Note: For joint Accounts, the applicable bonus will be credited to the Scene+ account linked to the Account of the borrower that completed the last transaction to meet the qualifying amount of eligible purchases in the case of the 2,500 Point Bonus and the Additional 5,000 Point Bonus.
Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for this offer.
See terms and conditions for full details.
Our Take
The Scotiabank® Scene+™ Visa* Card is a no-annual-fee credit card designed for individuals who spend less than $10,000 annually, including students and those seeking to redeem rewards frequently without significant spending. It offers Scene+ points on everyday purchases, with elevated rates at Cineplex theatres and select grocery stores, making it ideal for moviegoers and frequent shoppers at participating retailers.
Generous rewards with 2X points at Cineplex and grocery stores
Low redemption thresholds for various rewards
7,500 bonus Scene+ points as a sign-up bonus
Points don't expire
Cons
Limited earning potential for high spenders
Limited travel-related benefits compared to travel cards
Focus on entertainment and dining rewards may not suit all users
Limited sign-up bonus compared to cards with annual fees
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
$2.5
Foreign Transaction
Rewards
Scene+
2x
Scene+ points on every $1 you spend at Sobeys, Safeway, IGA, Foodland, participating
Co-ops, Freshco and more
2x
Scene+ points for every $1 you spend on Home Hardware, Home Building Center, Home Furniture locations in Canada and online at homehardware.ca
2x
Scene+ points for every $1 you spend at Cineplex theatres or online at cineplex.com
4x
Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
Earn up to 7,500 bonus Scene+ points within your first 3 months.
To qualify for these offers make sure to open a new Scotiabank Scene+ Visa credit card account (“Account”) between November 1, 2024 and March 2, 2025.
To qualify for the 7,500 bonus Scene+ points offer:
1. Earn 2,500 bonus Scene+ points by making at least $250 in everyday eligible purchases in your first 3 months.
2. You are eligible to earn an additional 5,000 Scene+ point bonus when you spend at least $1,000 in everyday eligible purchases in your first 3 months.
Once you qualify, we’ll credit your account in 2 instalments:
1. 2,500 bonus Scene+ points will be credited to the applicable Scene+ membership account approximately 8 weeks after the qualifying $250 in eligible purchases being posted to your Account within the first 3 months of Account opening.
2. An additional 5,000 bonus Scene+ points will be credited to the applicable Scene+ membership account approximately 8 weeks after the qualifying $1,000 in eligible purchases being posted to your Account within the first 3 months of Account opening.
Note: For joint Accounts, the applicable bonus will be credited to the Scene+ account linked to the Account of the borrower that completed the last transaction to meet the qualifying amount of eligible purchases in the case of the 2,500 Point Bonus and the Additional 5,000 Point Bonus.
Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for this offer.
See terms and conditions for full details.
The Scotiabank® Scene+™ Visa* Card is a great option for newcomers who want to earn rewards and avoid a high annual fee. With this card, you can redeem your points for a variety of options, such as travel, shopping, entertainment, dining, and banking services. What makes the Scotiabank® Scene+™ Visa* Card stand out is its unique sign-up bonus offer, which is rare for a credit card that doesn't charge an annual fee.
Disclosures:
Conditions apply. Visit here for the Scotiabank® Scene+™ Visa* Card to learn more. *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
value the flexibility to redeem cash back at any time
value a great welcome offer
Annual Fee & Annual Interest Rates
$0
Annual Fee
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Our Take
The BMO CashBack® Mastercard®* is a no-annual-fee credit card that allows cardholders to earn cash back on everyday purchases, with elevated rates for categories such as groceries and recurring bill payments. It offers flexible redemption options and includes benefits like purchase protection and extended warranty.
No Annual Fee: A rare find in Canada for a cash back card
A generous 3% cash back on groceries (up to $500 monthly)
Easily redeem from $1, set up automatic redemptions, or use as a statement credit
Additional perks include discounts on rentals, free supplementary cards and show discounts
Cons
Outside of groceries and recurring payments, the standard earn rate drops to 0.5%
Monthly caps on top earn rates for groceries and recurring payments
A 2% balance transfer fee applies
The interest rate on the remaining balance transfer amount increases after the introductory period
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
0.99%
Balance Transfer (Introductory)
Fees
$0
Annual Fee
Rewards
cash back
3%
Cardholders earn 3% (up to a monthly max of $500) cash back on groceries
1%
Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*
0.5%
Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*
Get up to 5% cash back in your first 3 months‡‡ and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee.§§
Our Take
The BMO CashBack® Mastercard®* is a no-annual-fee credit card that allows cardholders to earn cash back on everyday purchases, with elevated rates for categories such as groceries and recurring bill payments. It offers flexible redemption options and includes benefits like purchase protection and extended warranty.
No Annual Fee: A rare find in Canada for a cash back card
A generous 3% cash back on groceries (up to $500 monthly)
Easily redeem from $1, set up automatic redemptions, or use as a statement credit
Additional perks include discounts on rentals, free supplementary cards and show discounts
Cons
Outside of groceries and recurring payments, the standard earn rate drops to 0.5%
Monthly caps on top earn rates for groceries and recurring payments
A 2% balance transfer fee applies
The interest rate on the remaining balance transfer amount increases after the introductory period
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
0.99%
Balance Transfer (Introductory)
Fees
$0
Annual Fee
Rewards
cash back
3%
Cardholders earn 3% (up to a monthly max of $500) cash back on groceries
1%
Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*
0.5%
Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*
Get up to 5% cash back in your first 3 months‡‡ and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee.§§
The BMO CashBack® MasterCard®* is an excellent choice for new immigrants looking for a no annual fee cash back card that rewards everyday spending. This card is especially beneficial for those who spend a significant amount on groceries and recurring payments, as it offers cash back on these common expenses, helping you save more with every purchase. Additionally, frequent travelers will appreciate the added benefit of discounts on rental cars, making it a versatile card for those who travel often. With its combination of no annual fee, cash back rewards, and travel perks, the BMO CashBack® MasterCard® is an ideal option for newcomers looking to maximize their spending and start building their financial future.
Disclosures:
*Terms and conditions apply.
BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
Best RBC
RBC's best credit card for newcomers
RBC offers new immigrants both a cash back and rewards card.
The RBC Cash Back Mastercard® is a no-annual-fee credit card that offers cash back on everyday purchases, with elevated rates for grocery store spending. Cardholders benefit from features such as purchase security, extended warranty protection, and savings on fuel at Petro-Canada.
Up to 2% cash back on groceries², up to 1% cash back on everything else²
No limit on cash back earned¹
Save money on gas at Petro-Canada⁵
Easy approval requirements
Cons
Cash back rewards on groceries drop to 1% after you accumulate $6,000 in grocery charges
No travel insurance or other perks
0.5% applies to the cash back on everything else up to $6,000 but what is impressive is that for all non-grocery spend the cash back rate actually goes up from the 0.5% to 1% on spend over $6,000, rewarding as your spend more instead of diminishing
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
$2.5
Foreign Transaction
5.00%
Balance Transfer
$5
Cash Advance
$45
Return Penalty
Rewards
cash back
2%
Up to 2% unlimited cash back on groceries
1%
Up to 1% unlimited cash back on everything else
$0.03
Link your card and instantly save 3¢/L on fuel and 20% more Petro-Points at Petro Canada
50
Get 50 Be Well points for every $1 spent on eligible products at Rexall
$0 Delivery Fees
Get $0 delivery fees for 3 months from DoorDash when you add your eligible RBC credit card to your DoorDash account
Get up to 7% cash back in the first 3 months up to a total of $1,000 purchases^.
5% bonus cash back up to $1,000 spend for all purchases^, plus
2% cash back on groceries and 0.5% on all other purchases**
Thereafter, unlimited cash back & up to 2% cash back on groceries and up to 1% cash back on all other purchases**
Apply by July 8, 2025.
^ This offer only applies to new applications for an RBC Cash Back Mastercard credit card received between Feb 27, 2025 and July 8, 2025 (“Offer Period”) and approved by Royal Bank of Canada (“Royal Bank”), subject to the conditions below. Additional cardholders(s) (co-applicant and authorized user(s)) on the RBC Cash Back Mastercard credit card account, as well as existing cardholders on any RBC Royal Bank personal credit card transferring to an RBC Cash Back Mastercard credit card during the Offer Period, are not eligible for this offer.
Refer to RBC page for up to date offer terms and conditions.
Our Take
The RBC Cash Back Mastercard® is a no-annual-fee credit card that offers cash back on everyday purchases, with elevated rates for grocery store spending. Cardholders benefit from features such as purchase security, extended warranty protection, and savings on fuel at Petro-Canada.
Up to 2% cash back on groceries², up to 1% cash back on everything else²
No limit on cash back earned¹
Save money on gas at Petro-Canada⁵
Easy approval requirements
Cons
Cash back rewards on groceries drop to 1% after you accumulate $6,000 in grocery charges
No travel insurance or other perks
0.5% applies to the cash back on everything else up to $6,000 but what is impressive is that for all non-grocery spend the cash back rate actually goes up from the 0.5% to 1% on spend over $6,000, rewarding as your spend more instead of diminishing
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
$2.5
Foreign Transaction
5.00%
Balance Transfer
$5
Cash Advance
$45
Return Penalty
Rewards
cash back
2%
Up to 2% unlimited cash back on groceries
1%
Up to 1% unlimited cash back on everything else
$0.03
Link your card and instantly save 3¢/L on fuel and 20% more Petro-Points at Petro Canada
50
Get 50 Be Well points for every $1 spent on eligible products at Rexall
$0 Delivery Fees
Get $0 delivery fees for 3 months from DoorDash when you add your eligible RBC credit card to your DoorDash account
Get up to 7% cash back in the first 3 months up to a total of $1,000 purchases^.
5% bonus cash back up to $1,000 spend for all purchases^, plus
2% cash back on groceries and 0.5% on all other purchases**
Thereafter, unlimited cash back & up to 2% cash back on groceries and up to 1% cash back on all other purchases**
Apply by July 8, 2025.
^ This offer only applies to new applications for an RBC Cash Back Mastercard credit card received between Feb 27, 2025 and July 8, 2025 (“Offer Period”) and approved by Royal Bank of Canada (“Royal Bank”), subject to the conditions below. Additional cardholders(s) (co-applicant and authorized user(s)) on the RBC Cash Back Mastercard credit card account, as well as existing cardholders on any RBC Royal Bank personal credit card transferring to an RBC Cash Back Mastercard credit card during the Offer Period, are not eligible for this offer.
Refer to RBC page for up to date offer terms and conditions.
For newcomers looking for a no-fee credit card that offers great rewards on everyday purchases and has simple qualification criteria, the RBC Cash Back Mastercard stands out as an ideal option. With this card, you can earn cash back on a variety of everyday expenses, including groceries, gas, and more, helping you save while you spend. The card’s easy approval process makes it accessible to a wide range of applicants, and there’s no annual fee, making it a cost-effective choice for those starting to build their credit history. Whether you're new to Canada or just new to credit cards, this card provides an excellent balance of rewards and convenience.
Disclosures:
Refer to RBC Page for up to date offer terms and conditions.
Best Koho
KOHO's best prepaid card for newcomers
Prepaid credit cards are simple to use: you load your own money onto the card before spending. With no debt incurred and no interest charges, it's a hassle-free way to shop. Plus, you earn points and can build credit history while enjoying unique card benefits.
prefer earning cash back with the flexibility of a prepaid card
want to build out your credit history
want to track your spending
Annual Fee & Annual Interest Rates
$48
Annual Fee
Our Take
The KOHO Prepaid Mastercard® is a reloadable card paired with a mobile app, offering features such as cash back on purchases, interest on account balances, and budgeting tools to help users manage their finances effectively. It provides options for credit building and has tiered plans to cater to different financial needs, making it a versatile alternative to traditional credit cards.
Accepted worldwide, wherever Mastercard is accepted
Three account tiers, so there’s something for everyone
Earn interest on your account
RoundUps feature helps you save
Financial coaching is available
Features like Credit Building (to help you build your credit history) and Cover (to protect you from overdrawing your account)
Compatible with Apple Pay, Samsung or Google Pay
Joint account option for families and couples
Cons
No physical branches or tellers
No RRSP, TFSA or RESP accounts
Customer service not on par with the big banks
Missing some banking features, like wire transfers, currency exchanges and multiple lines of business like financial planning, mortgages and insurance
Fees
$48
Annual Fee
$1.5
Foreign Transaction
Rewards
cash back
1%
cash back on groceries, eating & drinking, and transportation
50%
extra cash back from select merchants
2.5%
interest on both your spending and savings account (Your funds will also be eligible for CDIC insurance)
0%
Get access to a cash advance of up to $250 at 0% interest with Cover.
30-day trial
All KOHO plans come with a free 30-day trial so you can see if it suits you.
Get 30 days of free trial for any KOHO plan. Get a $20 sign-up bonus on your first $20 transaction.
Only the users who successfully register a new KOHO account and make their first $20 purchase using their KOHO card within 30 days of registration are eligible for the offer and may claim the one-time $20 bonus in their KOHO account. This offer is non-transferable and may only be used once per person. Offer is not applicable in conjunction with other KOHO offers or promotions. KOHO may, at its sole discretion, suspend, terminate or change the terms and requirements of the offer.
Our Take
The KOHO Prepaid Mastercard® is a reloadable card paired with a mobile app, offering features such as cash back on purchases, interest on account balances, and budgeting tools to help users manage their finances effectively. It provides options for credit building and has tiered plans to cater to different financial needs, making it a versatile alternative to traditional credit cards.
Accepted worldwide, wherever Mastercard is accepted
Three account tiers, so there’s something for everyone
Earn interest on your account
RoundUps feature helps you save
Financial coaching is available
Features like Credit Building (to help you build your credit history) and Cover (to protect you from overdrawing your account)
Compatible with Apple Pay, Samsung or Google Pay
Joint account option for families and couples
Cons
No physical branches or tellers
No RRSP, TFSA or RESP accounts
Customer service not on par with the big banks
Missing some banking features, like wire transfers, currency exchanges and multiple lines of business like financial planning, mortgages and insurance
Fees
$48
Annual Fee
$1.5
Foreign Transaction
Rewards
cash back
1%
cash back on groceries, eating & drinking, and transportation
50%
extra cash back from select merchants
2.5%
interest on both your spending and savings account (Your funds will also be eligible for CDIC insurance)
0%
Get access to a cash advance of up to $250 at 0% interest with Cover.
30-day trial
All KOHO plans come with a free 30-day trial so you can see if it suits you.
Get 30 days of free trial for any KOHO plan. Get a $20 sign-up bonus on your first $20 transaction.
Only the users who successfully register a new KOHO account and make their first $20 purchase using their KOHO card within 30 days of registration are eligible for the offer and may claim the one-time $20 bonus in their KOHO account. This offer is non-transferable and may only be used once per person. Offer is not applicable in conjunction with other KOHO offers or promotions. KOHO may, at its sole discretion, suspend, terminate or change the terms and requirements of the offer.
The KOHO Essential Mastercard® Prepaid Card allows you to earn cash back rewards and interest while you shop, which are rare perks for a prepaid card. You can earn 1% cash back on groceries and transportation and 2.5% interest on your total account balance. This reloadable card also comes with an integrated app that gives real-time insights into your daily spending.
Secured cards
Secured credit cards for newcomers
If you’re not interested in signing up for a complete immigrant banking program, but still wish to improve your credit score, we recommend getting a secured credit card. A secured credit card is an easy way to get access to credit without a credit history, or with bad credit. Banks simply ask applicants to match their desired credit limit (the maximum amount of money you can spend with the credit card) with a cash deposit beforehand.
Secured cards are great for improving your credit score, because their card issuers frequently report repayment performance to Equifax and TransUnion, the two Canadian credit bureaus that track Canadians’ credit histories. However, secured credit cards do have some drawbacks: they rarely offer the same level of rewards or cash back as unsecured cards, and they don’t have high credit limits unless you have a lot of spare cash to offer as the deposit. Some of the best secured credit cards in Canada are listed below:
want to take advantage of an interest-free grace period
Annual Fee & Annual Interest Rates
$0
Annual Fee
19.99%
Purchase
19.99%
Cash Advance
19.99%
Balance Transfer
Our Take
The Home Trust Secured Visa is designed for individuals aiming to build or rebuild their credit, offering two options: a no-annual-fee card with a standard interest rate or a low-interest version with an annual fee. Cardholders benefit from features such as purchase protection and extended warranty coverage, but are required to provide a security deposit, which determines the credit limit.
Reports to credit bureaus every month, helping to quickly build your credit rating.
Requires a $500 minimum deposit, with the credit limit scaling on a 1:1 basis all the way up to $10,000.
High approval rate
Monthly credit reporting to major credit agencies every month, expediting the credit repair or improvement process
Low foreign transaction fee
Cardholders get a 21-day no-interest grace period
Low monthly minimum payment options; pay either the greater of $10 or 3% of the monthly balance.
Cons
Standard interest rate although, if you opt for the annual fee version of the card, it comes down
No rewards or perks
Charges a monthly inactivity fee of $12 if the card is not used for a period of 12 months.
Despite a high approval rate, there are still chances of being denied based on deal-breaking factors
No welcome bonus offer as it is designed for credit building
Annual Interest Rates
19.99%
Purchase
19.99%
Cash Advance
19.99%
Balance Transfer
Fees
$0
Annual Fee
$2.5
Foreign Transaction
Our Take
The Home Trust Secured Visa is designed for individuals aiming to build or rebuild their credit, offering two options: a no-annual-fee card with a standard interest rate or a low-interest version with an annual fee. Cardholders benefit from features such as purchase protection and extended warranty coverage, but are required to provide a security deposit, which determines the credit limit.
Reports to credit bureaus every month, helping to quickly build your credit rating.
Requires a $500 minimum deposit, with the credit limit scaling on a 1:1 basis all the way up to $10,000.
High approval rate
Monthly credit reporting to major credit agencies every month, expediting the credit repair or improvement process
Low foreign transaction fee
Cardholders get a 21-day no-interest grace period
Low monthly minimum payment options; pay either the greater of $10 or 3% of the monthly balance.
Cons
Standard interest rate although, if you opt for the annual fee version of the card, it comes down
No rewards or perks
Charges a monthly inactivity fee of $12 if the card is not used for a period of 12 months.
Despite a high approval rate, there are still chances of being denied based on deal-breaking factors
No welcome bonus offer as it is designed for credit building
Annual Interest Rates
19.99%
Purchase
19.99%
Cash Advance
19.99%
Balance Transfer
Fees
$0
Annual Fee
$2.5
Foreign Transaction
Home Trust offers multiple versions of their secured card with differing fee and rate options depending on your budget and spending habits. We recommend the Home Trust Secured Visa with an annual fee of $0 and a Purchase APR of 19.99%. A higher interest rate isn’t detrimental as long as applicants are serious about paying off their card balances in full each month.
Benefits of using credit
Benefits of using a credit card in Canada as a newcomer
Newcomers to Canada can enjoy several benefits from using credit cards:
1.
Build a strong credit history: It's important to have a credit history in Canada. Using a credit card the right way helps newcomers build their credit score. This is important for loans or mortgages later.
2.
Earn rewards: Many credit cards have rewards that give you points or cash back on purchases. As a newcomer, these benefits can help you save money.
3.
Have emergency funds handy: Credit cards can help in emergencies. They give quick access to money without needing cash, which is useful for those new to the country.
4.
Enjoy convenience: Credit cards are accepted almost everywhere in Canada. They make everyday purchases, online shopping, and travel easier for newcomers.
5.
Fraud protection: Credit cards often offer better protection against fraud compared to cash or debit cards. This gives newcomers more security with their spending.
6.
Monitor your spending: Credit card statements show a clear record of spending. This helps newcomers manage their money and get used to a new currency.
7.
Take advantage of promotional offers: Many banks have special offers for newcomers, like lower interest rates or no fees for the first year. This makes credit cards more appealing.
Expert tip
As a newcomer, focus on getting a credit card with no annual fee and great rewards. Don’t worry too much about the credit limit—it will increase as you build your credit history. Some newcomers become too preoccupied with having a high credit limit instead of focusing on the card’s perks.
- Lubna Umar, Credit Card Expert at Money.ca
🍁 Welcome to Canada!
Canada is one of the most friendly and welcoming places in the world, and this characteristic extends to its treatment of new immigrants. Any of the above credit cards and banking programs will help you establish a healthy financial future in this country.
Yes, newcomers to Canada benefit from establishing a credit history. They can easily apply for credit cards, earning rewards for everyday purchases and online shopping while building credit.
How to get a credit card for the first time in Canada?
1- Ensure you're of legal age in your province (typically 18 to 19). 2- Hold permanent residence or citizenship in Canada. 3- Obtain a social insurance number. 4- Confirm no association with an undischarged bankruptcy.
Why is it difficult for newcomers in Canada to get credit?
As a newcomer to Canada, building credit poses challenges since your credit history doesn't transfer. You'll need to start anew by purchasing a cell phone, applying for a credit card, managing expenses diligently, and utilizing credit-building tools to establish a solid financial footing from scratch.
New immigrants in Canada begin with a blank credit slate. Upon arrival, they possess no credit, meaning their score isn't low but non-existent. It's crucial to note that Canada lacks a universal credit reporting system, emphasizing the need to establish credit from scratch.
Multiple Canadian banks accommodate non-residents, such as Royal Bank of Canada (RBC), Toronto Dominion Bank (TD), Bank of Montreal (BMO), and Canadian Imperial Bank of Commerce (CIBC).
Non-residents and newcomers can obtain Canadian credit cards. Despite lacking a credit history, you can apply for various options such as store cards, prepaid cards, and secured credit cards, facilitating access to financial services in Canada.
In Canada, Equifax typically considers a credit score of 660 to 724 as good. Scores from 725 to 759 are deemed very good, while 760 and above are excellent. The credit score range spans from 300 to 900.
Lubna Umar is an experienced writer in the field of personal finance, with over six years of expertise under her belt. Her portfolio features comprehensive guides on personal finance, mortgages, car insurance, and in-depth credit card reviews. Lubna has had the opportunity to work for several prominent brands in the finance sector, including RATESDOTCA, LowestRates, InsuranceHotline, and the Financial Post.
The content provided on Money.ca is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.
