Best Newcomer Credit Cards in Canada for 2026
Your first credit card is an important first step to a solid financial future.
If you're new to Canada, the Tangerine Money-Back Credit Card is the best newcomer credit card. Two other top choices are the Home Trust Preferred Visa and Neo Mastercard.
| Credit card | Annual fee | Income requirements | Average earn rate |
|---|---|---|---|
| Tangerine Money-Back Credit Card | $0 | $12,000 personal annual income | 1.14% |
| Home Trust Preferred Visa | $0 | $15,000 personal annual income | 1% |
| Neo Mastercard | $0 | None | 0.52% |
Even if they have a strong credit history in another country, lenders can't assess the creditworthiness of a Canadian newcomer because they typically don't have a Canadian credit history. Therefore, it's essential to find a card with low credit score requirements – and we used our data-driven Genius Rating to identify which easily accessible cards offer the best features for newcomers.
This article covers the top credit card features for newcomers, newcomer programs from major banks, and tips for choosing the right card.
Key Takeaways
- The Tangerine Money-Back Credit Card is the best newcomer credit card, though the Home Trust Preferred Visa and Neo Mastercard are competitive alternatives.
- Newcomers to Canada should look for credit cards with low credit score requirements.
- The big Canadian banks have dedicated programs that offer exclusive financial products, services, and benefits for newcomers to Canada.
- Using a credit card responsibly can help you build a great credit score over time.
Best newcomer credit cards in Canada
Our Gold award for the #1 newcomer credit card in Canada goes to the Tangerine Money-Back Credit Card for its customizable cash back system and low credit score requirements.
Our Silver award goes to the Home Trust Preferred Visa for its simple earn rate and lack of a foreign exchange fee.
And our Bronze award goes to Neo Mastercard for its simple eligibility requirements and high reward rates.
The #1 newcomer credit card in Canada: Tangerine Money-Back Credit Card
×2 Award winner 
$140 GC Boost + Up to $100 bonus cash back** + No annual fee.*
GC: $120 + $20
2x Award winner 
The Tangerine Money-Back Credit Card tops our list for newcomers, largely due to its cash back system. It's one of the very, very few credit cards that lets you choose your own cash back categories. You can choose two spending categories and earn 2% back on them – but if you also hold a Tangerine savings account and choose to deposit your cash back there, you can choose a third earning category, too.
Especially relevant for newcomers is that this card has relatively low credit score requirements, between 600 and 725. It's also a no-fee card that features prominently on our list of best no-fee cash back cards.
While this isn't necessarily targeted at newcomers, it's worth noting that the Tangerine Money-Back Credit Card has a noteworthy balance transfer promo: 1.95% for 6 months, with a low 1% fee.
The #2 newcomer credit card in Canada: Home Trust Preferred Visa
Especially if you often travel abroad – to your home country, perhaps? – you'll find savings with the Home Trust Preferred Visa thanks to its lack of foreign transaction fees. Where other cards charge the standard 2.5% fee, Home Trust users don't pay anything extra on purchases made outside of Canada.
However, it's important to note that foreign purchases don't earn rewards. Users get a convenient flat 1% cash back on all Canadian purchases, but not on purchases made outside the country.
There's no real insurance package included, but the Home Trust Preferred Visa does have purchase protection. This alone is worth about $39, so don't overlook this value.
The #3 newcomer credit card in Canada: Neo Mastercard®
The Neo Mastercard® is a cash back credit card that earns rewards in a few select categories, plus bonus rewards when shopping with Neo partners. You can earn up to 5% back at partnering retailers, and 1% on groceries, gas, and EV charging.
Yes, there are caps on your cash back earnings, but they're quite high. You can spend up to $6,000 on groceries, $10,000 on gas, and $20,000 on everything else before your cash back opportunities end.
Perhaps the most attractive feature for Canadian newcomers, though, is the simple eligibility requirements. Applicants don't need to worry about income at all and are only required to have a mid-level credit score, estimated between 560 and 659. Plus, there's no annual fee to worry about for this card.
Compare all newcomer credit cards by Genius Rating
We wanted to find the best credit cards that newcomers could qualify for, so we relied on our Genius Rating, which is a data-driven analysis of every credit card. Here's how the cards compare when arranged by Genius Rating:
×2 Award winner GC: $120 + $20 2x Award winner 
The Genius Rating methodology
To come up with each card's Genius Rating, we analyzed over 126 features of each card and broke them into seven main categories:
- Rewards: 31%
- Fees: 20%
- Insurance: 16%
- Perks: 16%
- Interest: 7%
- Approval: 5%
- Acceptance: 5%
Learn more about our Genius Rating methodology
How to choose the right newcomer credit card
In many ways, choosing a credit card as a newcomer isn't terribly different than choosing a credit card anywhere. For instance, you should always pay attention to how a credit card issues rewards (if any), weigh the interest rates and annual fee, and check the card's limitations.
As a newcomer, you may want to pay attention to income and credit score requirements. You might also consider transfer and foreign exchange fees if you plan to send money to family or travel abroad.
Rewards
The drawback of cards with low credit scores is that most don't offer any rewards – or if they do, they're pretty basic. All of our newcomer credit cards give you cash back on your purchases. While the return rates aren't amazing, the tradeoff is that you're building credit so you can qualify for a better card later on.
This chart compares the average earn rates of our top three newcomer credit cards:
The Tangerine Money-Back Credit Card has the highest earn rate, but the Home Trust Preferred Visa isn't far behind.
For more details, this table lays out the details of how each card's reward system works:
| Credit card | Rewards program | Rewards | Redemption options |
|---|---|---|---|
| Tangerine Money-Back Credit Card | Cash back | * 2% cash back on purchases in up to 3 Money-Back Categories * 0.5% cash back on all other purchases | * Statement credits * Bank account deposit |
| Home Trust Preferred Visa | Cash back | * 1% cash back on all purchases | * Statement credits |
| Neo Mastercard | Cash back | * Average of 5% cash back at partner retailers * 1% cash back on gas and EV charging, up to $500 spent monthly * 1% cash back on groceries, up to $500 spent monthly | * Statement credits |
Fees
Most credit cards with low credit score requirements don't charge an annual fee, including the top three cards on this list. This is an excellent feature that helps newcomers save as they get settled.
Another fee to consider is the cost for supplemental cards. Luckily, two of the three top newcomer cards won't charge anything if you want to add a card for a loved one. While the Neo Mastercard does charge a fee, it's a mere $10, making it just as convenient an option as the other two cards.
Approval
Since most newcomers to Canada are still building credit, it makes sense to avoid applying for credit cards that require a high credit score. All three of the best newcomer cards have reasonable credit requirements, and if you choose to go through a bank's specialized newcomer program, the cards they offer typically don't have credit requirements at all.
Income requirements are another critical part of the approval process. Especially if your employment status in Canada is still uncertain, applying for cards with low or no income requirements is a good idea.
Here's a list of the annual income requirements for the top three newcomer credit cards:
- Tangerine Money-Back Credit Card: $12,000 personal, $0 household
- Home Trust Preferred Visa: $15,000 personal, $0 household
- Neo Mastercard: $0 personal, $0 household
Perks
Credit cards for newcomers are meant to be accessible for people who haven't established strong credit histories, so card issuers don't include as many valuable perks to compensate for the risk.
While none of our top cards include travel perks or exclusive opportunities, there are a few small bonus features:
- You could certainly consider the opportunity to choose your own cash back categories a valuable perk. Plus, the Tangerine Money-Back Credit Card offers a nice welcome bonus: Earn an extra 10% cash back for the first 2 months, up to $1,000 spent.
- The Home Trust Preferred Visa's obvious perk is that it waives foreign exchange fees. There's more, though: it also provides guaranteed hotel reservations, anywhere in the world, even if you arrive late.
- Immediately after approval, you'll get a virtual Neo Mastercard to use. You can also add Neo Memberships to your account and unlock premium features – though these are new and Neo doesn't yet offer their full details.
Insurance
Premium credit cards often offer extensive insurance, but newcomer cards only provide basic insurance, if anything at all.
The Home Trust and Tangerine cards give you 90 days of purchase protection (which is standard for most credit cards), and the Tangerine card also includes one year of extended warranty.
Unfortunately, the Neo Mastercard doesn't include any insurance at all.
Interest rates
If you know there are times you might not be able to pay your credit card off in full, you'll want a card with low interest rates. And if you plan to get cash from your credit card's limit, pay attention to the card's cash advance rates.
These newcomer credit cards have fairly average interest rates, but the Tangerine Money-Back Credit Card offers an amazing promo balance transfer rate of 1.95% for 6 months.
This chart offers a side-by-side view of the top newcomer cards' interest rates:
Acceptance
Since Visa and Mastercard issue our top newcomer credit card picks, you shouldn't worry about retailers accepting your card. In fact, these cards are accepted across the globe, so you shouldn't have issues using them if and when you travel back to your home country.
Occasionally, smaller retailers may not accept American Express credit cards, and, unfortunately, they're not accepted at Costco or Loblaws-owned stores.
Bank-specific newcomer programs
Many of the big banks offer free programs designed to help newcomers adapt their finances to life in Canada.
| Bank and program name | Cost | Limited-time offers | Program benefits | Credit card(s) to consider |
|---|---|---|---|---|
| Scotiabank StartRight Program | * Preferred Package is free for the first year * $16.95 per month thereafter | * Monthly fees waived for the first year * Earn up to $700 when you bundle an eligible banking package, savings account, and registered account | * No credit history required * Educational blog posts * Specialized mortgage offers * New vehicle loans with 0% down * Free unlimited international money transfers | * Scotiabank Scene+ Visa Card ($12,000 personal income required) |
| CIBC Smart Account for Newcomers | * $0 monthly fee for two years if you qualify or maintain a daily balance of $4,000 | * Apply for Smart Account and credit card at the same time * Get a $100 Skip Gift Card plus $500 cash if you open a CIBC Smart Account and complete qualifying actions | * Ability to confirm eligibility before arriving in Canada * Tap to pay with your phone * Unlimited Interac transfers within Canada * $0 international money transfer fees | * CIBC Dividend Platinum Visa Card ($15,000 household
income required) * CIBC Adapta Mastercard ($15,000 household income required) |
| BMO NewStart Program | * Monthly fees waived for two years * $17.95 per month thereafter | * Up to $700 bonus for switching to BMO * $60 cash bonus for safety deposit box rental * Free 12-month Walmart Delivery Pass subscription | * Combines banking and credit-building products * Additional support for newcomers from Ukraine * Unlimited no-fee international transfers | * BMO CashBack Mastercard(no income requirements) * BMO eclipse rise Visa Card (no income requirements) |
| RBC Newcomer Advantage | * No-monthly-fee banking for a year with an eligible credit card | * Free safety deposit box for one year * Earn up to 12% back in the first three months with the RBC Cash Back Mastercard | * Customer service available in up to 200 languages * No credit history required * Transfer fees waived for international money transfers | * RBC Cash Back Mastercard (no income requirements) |
| TD New to Canada Banking Package | * No-monthly-fee banking for one year | * Up to $500 cash welcome bonus for a new chequing account * 4% bonus interest rate for a new savings account * Up to $150 or 15,000 Aeroplan points welcome bonus for a new credit card | * Customer support available in 80+ languages
* Dedicated support for newcomer entrepreneurs * One year of $0 transfer fees for international money transfers | * TD Cash Back Visa Card (no income requirements) |
| National Bank Newcomer Package | * Up to three years of free or discounted personal chequing | None | * Canadian Immigration guide on website * Free legal support service | * National Bank mycredit Mastercard (no income requirements) |
How to build credit with your credit card
Credit cards can be excellent tools for improving your credit score – but only if you use them responsibly. Here are some strategies to make your card work for you:
- Choose the right credit card for you: Look for a card that's tailored to students or newcomers. These usually have no or low income requirements, so they're easier to qualify for.
- Make on-time payments (and in full): Missing a payment can hurt your credit score, so make a point of paying your bill by the due date on your statement every month. If you can, pay off the entire balance so you're not charged interest.
- Keep your credit utilization low: Using your full credit limit can complicate your credit utilization ratio. This is the amount of debt you have compared to your income. Creditors start to worry when this ratio is over 30%.
- Monitor your credit reports: Sometimes, inaccurate information on your credit report can drag your credit score down. Make a point of regularly pulling up your credit report and checking for errors. If you spot an error, you can dispute it with the credit monitoring bureau, and they'll investigate.
How to apply for a newcomer credit card
There are several ways to apply for a new card, so choose the one that is most convenient for you.
Apply for a prepaid or unsecured credit card
If you think you'll meet income and credit score requirements for an unsecured card – like the Tangerine Money-Back Credit Card or Home Trust Preferred Visa – apply online or at a local branch.
The bank will review your eligibility requirements before issuing you a card.
You can open a prepaid card by filling out an application online or at a branch – and there's no need for a credit check. You'll then deposit money into the account and use the card as you would a typical one, making purchases at retailers, online, etc. Just top off the balance when it gets low.
If you prefer a secured credit card, you can apply online or at a bank branch, and you won't have to undergo a credit check. After filling out the forms and receiving approval, you'll submit an amount to be used as your deposit and credit limit. In other words, if you submit $1,000, your credit limit will be $1,000.
If/when you decide to close the secured card and account, you'll get that $1,000 back.
Apply for a newcomer package with a bank
Scotiabank, RBC, CIBC, BMO, TD, and National Bank all offer programs and accounts specifically designed for newcomers. Head to a local branch to sign up. You'll typically need to pay a fee, but many banks waive it for the first month or if you have an eligible banking product.
For example, if you sign up for RBC Newcomer Advantage and get a qualifying credit card, the chequing account fee is waived for the first year.
FAQ
What is the best credit card in Canada for newcomers?
The best credit card in Canada for newcomers is the Tangerine Money-Back Credit Card. It provides a low barrier to entry, with low income and credit score requirements, plus there's no annual fee. This card is unique in that users can select their own two cash back categories – even three categories if they also hold a Tangerine Savings Account.
Can new immigrants get a credit card in Canada?
Yes, there are several credit cards available with simple eligibility requirements that even newcomers can qualify for – the Tangerine Money-Back Credit Card is the best. Secure and prepaid credit cards are convenient and valuable options too, and they don't require credit checks. Alternatively, several banks offer exclusive newcomer programs, bundling credit cards, bank accounts, and other financial products and services.
Which Canadian bank is best for newcomers?
The best bank for Canadian newcomers is National Bank. Its newcomer program provides up to three years of free banking, free legal support, ATM services in six languages, and access to eligible credit cards, even if you don't have a Canadian credit history. There's also a very convenient and valuable Canadian Immigration Guide available on the National Bank website.
Does TD give credit cards to newcomers?
Yes, TD has credit cards for newcomers to Canada. TD offers a New To Canada banking package that makes it simple for people to open a TD Unlimited Chequing account, an eligible savings account, and/or a credit card. TD recommends newcomers choose either the TD Cash Back Visa Card, TD Rewards Visa Card, or TD Aeroplan Visa Platinum Card.
Editorial Disclaimer: The content here reflects the author's opinion alone. No bank, credit card issuer, rewards program, or other entity has reviewed, approved, or endorsed this content. For complete and updated product information please visit the product issuer's website. Our credit card scores and rankings are based on our Rating Methodology that takes into account 126+ features for each of 231 Canadian credit cards.
