Best Credit Card For Newcomers In Canada 2025

Lisa
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Lisa Rennie
Senior Contributor at Loans Canada
Lisa has worked as a personal finance writer for over a decade, creating unique content to help educate Canadian consumers. Expertise:
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Priyanka Correia, BComm
Senior Editor at Loans Canada
As a senior member of the Loans Canada team, Priyanka Correia is committed to empowering Canadians with the knowledge they need to make smart financial choices.
Expertise:
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Updated On: August 19, 2025
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British Columbia Residents: iCash offers payday loans in British Columbia (license number: 67639)

Ontario Residents: Loan amounts and repayment terms are subject to qualification requirements. The maximum allowable cost of borrowing under the payday loan agreement is $14 for every $100 advanced. On a $500 loan of 14 days, the total cost of borrowing is $70, with a total payback amount of $570 and an APR of 365%. On a loan of 62 days, the APR is 82.42%.

Manitoba Residents: To learn more about your rights as a payday loan borrower, contact the Consumer Protection Office at 1-204-945-3800 or 1-800-782-0067 or at www.manitoba.ca/cca/cpo

Nova Scotia Residents: Payday loans are High Cost Loans. The maximum allowable cost of borrowing under the payday loan agreement is 14$ per every 100$ received, which means on a 100$ loan for 14 days, the total cost of borrowing is 14$, with total payback amount of 114$ and an APR of 365.00%.

PEI Residents: Loan amounts and repayment terms are subject to qualification requirements. The maximum allowable cost of borrowing under the payday loan agreement is $14 for every $100 advanced. On a $300 loan of 14 days, the total cost of borrowing is $42, with a total payback amount of $342 and an APR of 365.00%. On a loan of 62 days, the APR is 82.42%.

The Cashback Program and Refer a Friend Program are not available in Manitoba, British Columbia and New Brunswick.

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Moving to Canada comes with a laundry list of to-do’s, and perhaps one of the most important things to take care of is your finances. In addition to opening a bank account, you might also want to look into applying for a credit card for newcomers in Canada.

The thing is, a good credit score is typically required to get a credit card in Canada. But newcomers typically come here starting from scratch in terms of credit history. In these cases, certain credit cards may be better than others. Read on to find the best credit cards for newcomers in Canada.  


Key Points

  • A credit card can help newcomers to Canada build the credit profile needed to unlock various financial products.
  • Some of the best credit cards for newcomers include the Secured Neo Mastercard, Scotia Momentum No-Fee Visa, and Tangerine Money-Back credit card.
  • If you’re unable to obtain an unsecured credit card, consider applying for and using a secured card first to build credit, then apply for a traditional card once your credit profile improves.
Note: Want to cancel your credit card for a new one? Make sure you know the consequences click here.

Best Credit Card For Newcomers In Canada 

Annual FeeRewards
Secured Neo Mastercard$5/ monthly– 1% on gas and groceries.¹
– Up to 5% with merchant partners.¹
Scotia Momentum® No-Fee Visa Card$0– Earn 1% cashback on all eligible gas, grocery, and pharmacy purchases and recurring payments.
– Earn 0.5% cash back on all other eligible purchases.
Tangerine Money-Back Credit Card$0– Earn 2% Money-Back Rewards in 2 categories.
– Earn 0.50% Money-Back Rewards on all other eligible purchases.
BMO CashBack® Mastercard®$0– Earn 3% cash back on grocery purchases.
– Earn 1% cash back on recurring bills.
– Earn 0.5% cash back on all other purchases
TD Cash Back Visa* Card 
$0– Earn 1% on groceries, fuel, & public transit 
– Earn 1% on recurring bill payments, streaming, digital gaming, & media purchases
– Earn 0.5% on all other purchases

Neo Mastercard

Secured Neo Mastercard

Secured Neo Mastercard is a secured credit card offered by Neo Financial, a fintech company in Canada that aims to change the way Canadians spend, save and build credit. 

While the Secured Neo Mastercard is a secured credit card, it comes with many perks of a traditional credit card, including cashback rewards and the ability to build credit. You can earn 1% on gas and groceries and up to 5% with participating merchants.

The card also has low requirements for approval. There is no credit check, and the minimum deposit is $50. Users can also take advantage of Neo’s real-time notifications to help budget and track expenses.

The Secured Neo Mastercard comes with a $5 monthly fee.

  • Annual fee: $0
  • Interest Rate:
    • Purchase rate: 19.99% – 29.99% (QC: 19.99% – 24.99%)
    • Cash advance rate: 22.99% – 31.99% (QC: 22.99% – 25.99%)
  • Earn rate:
    • 1% on gas and groceries.¹
    • Up to 5% with merchant partners.¹
  • Perks:
    • Can help build or rebuild your Canadian credit history.²
    • Guaranteed approval.
    • Change your limit at any time.
    • Upgrade to the premium plan for $9.99 to earn extra cash back on spending.
    • Add Neo Perks to customize your card benefits and cash back rate.

Scotia Momentum Visa Infinite Card

Scotia Momentum® No-Fee Visa Card

One of the best cashback credit cards available for newcomers is the Scotia Momentum No-Fee Visa Card. As the name suggests, there’s no annual fee to pay, which is a huge perk for those looking to keep costs to a minimum. 

This card is part of the Scotiabank StartRight® Program, which offers up to a $15,000 credit limit. Newcomers can choose from multiple credit card options and start building a Canadian credit score, even without prior credit history.

You’ll earn 5% cashback on all purchases up to $2,000 for the first 3 months. Then, you’ll earn 1% cashback on all eligible gas, grocery, and pharmacy purchases, and recurring bills. Earn 0.50% on all other eligible purchases. 

  • Annual fee: $0
  • Interest Rate:
    • Purchase rate: 19.99%
    • Cash advance rate: 22.99%
  • Earn rate:
    • Earn 1% cashback on all eligible gas, grocery, and pharmacy purchases and recurring payments.
    • Earn 0.5% cash back on all other eligible purchases.
  • Perks:
    • 0% introductory rate on balance transfers for the first 6 months.
    • Save up to 25% at participating AVIS locations and at participating Budget locations.

Tangerine credit card

Tangerine Money-Back Credit Card

Another great no-fee credit card that offers cashback rewards is the Tangerine Money-Back Credit Card. This card lets you earn unlimited Money-Back Rewards on purchases.

You’ll earn 2% cashback on everyday purchases in 2 different categories of your choice, and 0.50% cashback on all other eligible purchases. And if you open a Tangerine Savings Account, you can get a 3rd category added.

  • Annual fee: $0
  • Interest Rate:
    • Purchase rate: 20.95%
    • Cash advance rate: 22.95%
  • Earn rate:
    • Earn 2% Money-Back Rewards in 2 categories, including groceries, pharmacies, home improvement stores, and more.
    • Earn 0.50% Money-Back Rewards on all other eligible purchases.
  • Perks:
    • No limit to how many Money-Back Rewards you can earn.
    • Deposit your rewards into a Tangerine Savings Account and get a third money-back category.
    • For the first 30 days, you can take advantage of a 1.95% transfer balance rate for the first 6 months.
    • Add authorized users onto your account for free.
    • Mastercard Zero Liability.

BMO CashBack Mastercard

BMO CashBack® Mastercard®

The BMO CashBack Mastercard comes with no annual fee and allows you to earn cashback on everyday purchases. This card is a good option for newcomers due to its low requirements and high cash back rates.

Newcomers can apply for an unsecured credit card with a credit limit of up to $5,000 without credit history. This card is part of the three credit cards offered in the BMO newcomer program, allowing newcomers to qualify without prior Canadian credit history.

You can also take advantage of an introductory interest rate of 0.99% on transfer balances for 9 months, which gives you plenty of time to pay down any high-rate balances you might currently be carrying on other credit cards. 

  • Annual fee: $0
  • Interest Rate:
    • Purchase rate: 21.99%
    • Cash advance rate: 23.99% (21.99% for QC residents)
  • Earn rate:
    • 3% cash back on grocery purchases.
    • 1% cash back on recurring bills.
    • 0.5% cash back on all other purchases.
  • Perks:
    • Extended warranty and purchase protection.
    • Get up to 7¢ off per L at Shell gas stations.

TD Cash Back Visa

TD Cash Back Visa* Card 

The TD Cash Back Visa* Card is a no-fee credit card offered through the TD New to Canada Banking Package, designed specifically with newcomers in mind. When applying for this package, a TD banking specialist will guide you through the process of opening a chequing and savings account, and apply for a credit card. 

As an added bonus, you may qualify for a credit card with a credit limit up to $15,000 as soon as you arrive to Canada, with no Canadian credit history required. 

  • Annual fee: $0
  • Interest Rate:
    • Purchase rate: 21.99%
    • Cash advance rate: 22.99%
  • Earn rate:
    • 1% on groceries, fuel, & public transit.
    • 1% on recurring bill payments, streaming, digital gaming, & media purchases.
    • 0.5% on all other purchases.
  • Perks:
    • TD Payment Plans that allow you to spread your costs of large purchases
    • Save with Avis Rent A Car and Budget Rent A Car
    • Visa Zero Liability
    • Extended Warranty Protection
    • Fraud Alerts

What You Need To Apply For A Credit Card For Newcomers In Canada

As a newcomer to Canada, you’ll need the following to apply for a credit card:

  • Residency Status. You’ll need to provide information related to your residency status, including your visa details.
  • Home Address. You’ll probably require a residential address in Canada to secure a credit card.
  • Employment. Having a stable income and job is a requirement for credit card approval.
  • Financial Information. Different financial requirements may exist for newcomers to Canada compared to Canadian citizens. As such, you might need a certain amount of savings in your Canadian bank account for credit card approval.
Documents Required:

Newcomers applying for a credit card will need certain documents, depending on their status:

Permanent Residents:
– Permanent resident card or Confirmation of Permanent Residence (COPR) document
– Government-issued photo ID (ie. driver’s licence)
Foreign Workers:
– Work permit
– Government-issued photo ID 

Can I Still Qualify For A Credit Card With No Credit History?

Today, many banks offer newcomer programs that make it easier to get a credit card, even with no Canadian credit history. As long as you meet basic requirements — like proof of income or assets — you may be eligible to start building credit right away.

Some banks go a step further. For example, Scotiabank partners with Nova Credit to let you transfer your credit history from specific countries. This can help you qualify for a higher credit limit and is a great way to take advantage of the financial profile you’ve already built back home.


What Should You Look For In A Credit Card For Newcomers In Canada?

Before you set out to get yourself a credit card after immigrating to Canada, consider the following features of a financial product:

  • Annual Fee. As a newcomer to Canada, you’re most likely looking to keep all your expenses to a minimum. One way to do that is to look for a credit card that comes with a $0 annual fee, or at least a very low fee. If the card comes with a yearly fee, assess the rewards that it offers and make sure they’re worth it.
  • Rewards. Many credit cards offer some type of rewards system that allows you to earn points with every expenditure you make. Look for a card that offers high cashback rewards for the types of purchases you spend the most on.
  • Perks. Some credit cards offer other perks besides rewards points, including travel insurance, VIP airport lounge access, and purchase protection. Make sure the perks align with your needs and are worth any annual fee they may come with.
  • Eligibility Requirements. Find out what you need to qualify for the credit card you’re interested in and make sure you meet these criteria before applying.

Alternative Options When You Can’t Qualify For A Credit Card

If you can’t get a traditional unsecured credit card, consider the following alternatives:

Apply For A Secured Credit Card

An unsecured credit card is a lot more difficult to get approved for and typically requires more stringent approval criteria. If you’re unable to get approved for an unsecured credit card, you might want to consider a secured credit card instead, which is much easier to obtain. 

By using the card regularly and responsibly, you can build good credit to the point where you may eventually get approved for an unsecured card. 

Learn more: Top Secured Credit Cards In Canada

Apply For A Prepaid Card

Another option available is a prepaid card. These types of financial products let you load money onto them and then use them for making purchases. Keep in mind, however, that a prepaid credit card will not help you build credit.

KohoLearn More
Neo Money CardLearn More

Final Thoughts

There are so many loose ends to tie up when immigrating to Canada, and dealing with your finances is a big one. Having a credit card in your wallet can afford you many perks, but some are better suited for newcomers than others. Look into each of the cards mentioned here and choose one that best suits your needs. 


FAQs - Credit Cards For Newcomers To Canada

What should I do if I can’t qualify for a credit card as a new immigrant?

If you can’t get a traditional unsecured credit card, consider applying for a secured card. These cards are much easier to get approved for and can still be used much like a regular credit card, including to build credit.

Do I need a SIN card to apply for a credit card?

Most credit card issuers will require a SIN when you apply for a card. This allows them to check your credit to help them determine whether you’re eligible to get approved. Having said that, some banks offer products that are geared specifically toward immigrants, which often do not require a SIN.

Do I need a bank account to get a credit card? 

Not necessarily. Having a bank account is often not a requirement. However, a bank account might make it easier to get approved for a credit card.

Neo Credit and Neo Secured Credit cards are issued by Neo Financial™ pursuant to license by Mastercard International Incorporated.

¹Minimum balance in a Neo Everyday account required to earn the highest rate. Cashback earn subject to monthly maximum spend limits. Cashback may be limited and varies by perks, offer, and partner. There may be monthly limits for boosted cashback offers.

²When you make payments in full and on time each month

Lisa Rennie avatar on Loans Canada
Lisa Rennie

Lisa has been working as a personal finance writer for more than a decade, creating unique content that helps to educate Canadian consumers in the realms of real estate, mortgages, investing and financial health. For years, she held her real estate license in Toronto, Ontario before giving it up to pursue writing within this realm and related niches. Lisa is very serious about smart money management and helping others do the same.

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