Get a credit card as a newcomer with no Canadian credit history. We compare secured cards, newcomer Visa and Mastercard options, and fintech alternatives.
Your Canadian credit score is one of the most important financial assets you'll build as a newcomer. It affects your ability to rent an apartment, get a mortgage, qualify for a car loan, and even land certain jobs. The single most effective way to build credit quickly is to get a credit card and use it responsibly — paying your balance in full every month.
In Canada, credit history is reported by two bureaus: Equifax Canada and TransUnion Canada. Your credit score ranges from 300 to 900. Most lenders want to see a score above 660 for standard products, and above 720 for the best mortgage rates.
The key metric is account age — the longer your accounts have been open, the better. This means you want to open your first Canadian credit card on Day 1, not after 6 months of settling in.
Annual Fee: $0 (waived year 1, then $0)
Credit History Required: None for StartRight members
Offered exclusively through Scotiabank's StartRight newcomer program. Earns Scene+ points on purchases (2x at Sobeys, 1x elsewhere). No credit check for new Scotiabank newcomers. Credit limit starts at $500–$2,000.
Annual Fee: $0
Credit History Required: None for TD newcomers
Earns 1% cash back on all purchases. TD offers this as part of their New to Canada Banking Package. Available to newcomers within their first 2 years in Canada. Straightforward, no-frills cash back.
Annual Fee: $20/year
Credit History Required: None for new RBC clients
RBC's newcomer Visa has a low purchase interest rate (12.99%) vs. the standard 20.99% — useful if you occasionally carry a balance. Comes with basic travel insurance and extended warranty coverage.
Annual Fee: $0 (or $59 for no-interest option)
Credit History Required: None (secured)
You deposit $500–$100 as collateral, and your credit limit equals your deposit. Reports to both Equifax and TransUnion. No income verification required. One of the best-known secured cards in Canada.
Annual Fee: $0 (base plan)
Credit History Required: None
KOHO is a fintech that offers a prepaid Mastercard with cash back AND a separate "Credit Building" subscription ($7–$10/mo) that reports a small installment loan to Equifax monthly. Excellent for newcomers who want to build credit fast without risk of overspending.
Annual Fee: $0
Credit History Required: None for BMO NewStart members
3% cash back on groceries (up to $500/mo), 1% on everything else. BMO's NewStart newcomer package includes this card with a credit limit starting at $500. Simple, rewarding card for everyday spending.
| Feature | Secured Card | Unsecured Newcomer Card |
|---|---|---|
| Credit Check Required | No | Sometimes (soft check only) |
| Deposit Required | Yes ($200–$100) | No |
| Credit Limit | = Your deposit | $500–$5,000 typically |
| Builds Credit? | Yes (if reports to bureaus) | Yes |
| Best For | No banking relationship yet | Newcomers with a bank account |
| Annual Fee | $0–$59 | $0–$20 |
Having a credit card isn't enough — you need to use it strategically. Here are the key rules:
Unfortunately, Canadian credit bureaus cannot access credit history from most other countries. Your US credit history is a partial exception — Nova Credit has a partnership to translate US credit history for Canadian lenders, and some Canadian banks can request a US credit report directly.
For most other countries, your foreign credit history is invisible to Canadian lenders. However:
KOHO's Credit Building subscription reports to Equifax every month. Combine it with the KOHO prepaid Mastercard for cash back on everything. New users get $100 cash with our referral link.
Get $100 with KOHO →