Best credit cards for newcomers to Canada

See the best credit cards for newcomers in Canada and apply today to start building a strong credit score.

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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.
Apply Now
Scotiabank American Express ◦ $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.
Apply Now
Scotiabank® Scene+™ Visa* ◦ $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
Apply Now
BMO CashBack® MasterCard®* review ◦ $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*
Apply Now
RBC Cash Back Mastercard ◦ $0 annual fee
◦ 2% unlimited cash back on groceries
◦ 1% unlimited cash back on everything else
Apply Now
Home Trust Secured Visa ◦ No annual fee
◦ No required annual income
Apply Now
KOHO Essential Mastercard® Prepaid Card ◦ $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
Apply Now
Newcomers and credit

💳 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

5% cash back

Welcome Bonus

$271

First Year Value

$171

Annual Value

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

Learn More Apply Now On Scotiabank's Secure Site

Scotiabank's best Amex card for Canadian newcomers

up to 5,000 points

Welcome Bonus

$471

First Year Value

$421

Annual Value

Welcome Bonus: Earn up to 5,000 bonus Scene+ points within your first 3 months (that’s up to $50 towards travel). Expires Jul 01, 2025

Learn More Apply Now On Scotiabank's Secure Site

Scotiabank's best Scene+ credit card for Canadian newcomers

up to 7,500 points

Welcome Bonus

$351

First Year Value

$276

Annual Value

Welcome Bonus: up to 7,500 bonus Scene+ points within your first 3 months Expires Mar 02, 2025

Learn More Apply Now On Scotiabank's Secure Site

Best BMO

BMO's best credit card for new immigrants

5% cash back

Welcome Bonus

$526

First Year Value

$401

Annual Value

Welcome Bonus: Get 5% cash back in your first 3 months* Expires Jun 01, 2025

Learn More Apply Now On BMO's Secure Site

Best RBC

RBC's best credit card for newcomers

RBC offers new immigrants both a cash back and rewards card.

up to 7% cash back^

Welcome Bonus

$307

First Year Value

$237

Annual Value

Welcome Bonus: Get up to 7% cash back in the first 3 months up to a total of $1,000 in purchases^. Expires Jul 08, 2025

Learn More Apply Now On RBC's Secure Site

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. 

$20 sign-up bonus

Welcome Bonus

$0

First Year Value

$0

Annual Value

Welcome Bonus: Get a 30-day free trial for any KOHO plan. Get a $20 sign-up bonus on your first $20 transaction.

Learn More Apply Now On Koho's Secure Site

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:

$0

First Year Value

$0

Annual Value

Learn More Apply Now On Home Trust's Secure Site

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. 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. 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. 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. 4.

    Enjoy convenience: Credit cards are accepted almost everywhere in Canada. They make everyday purchases, online shopping, and travel easier for newcomers.

  5. 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. 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. 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.

Interested in additional personal finance tips for new immigrants? We’ve set up a page that provides an overview of all the major financial concerns for new immigrants. Check it out and let us know if you have any other questions that we didn’t cover.

Disclosures:

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.

FAQs

FAQs about credit cards for new immigrants in Canada

  • Can newcomers get a credit card in Canada?

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    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?

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    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?

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    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.

  • What is the credit score of a newcomer in Canada?

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    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.

  • Which Canadian banks allow non-residents?

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    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).

  • Can a non-resident get a credit card in Canada?

    +

    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.

  • What is considered a good credit score 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 Credit Card Expert

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.

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