Credit cards for newcomers and new immigrants to Canada

BMO, CIBC, RBC, Scotiabank and TD each describe a way for a newcomer to get a credit card without a Canadian credit history. The limits, the time since arrival that counts, and the documents differ by bank and by immigration status, so this page gives each bank’s terms on their own.

Newcomer credit card programs at the big banks

Here is what each of these five banks says about newcomers getting a credit card, with a link to the bank’s own newcomer page.

BMO

• BMO says a newcomer may apply for an unsecured credit card with a limit of up to $5,000 and no credit history, and may apply for a secured card, which needs a deposit, if the unsecured card isn't approved.

BMO’s newcomer credit card page has the current terms.

CIBC

• CIBC offers its Smart Account for Newcomers to people who received landed immigrant or permanent resident status in the last 5 years, or who are temporary resident workers with a Canadian work permit issued for at least a 12-month term. CIBC asks for proof of entry into Canada and supporting documents such as landing papers, a permanent resident card or a work permit (IMM 1442).
• CIBC says its newcomer credit cards need no security deposit or credit history. Its Higher Limit on Credit Card offer says a newcomer may be eligible for a limit of up to $15,000 on a first CIBC credit card without a secured deposit; the offer's terms say it is only available in a CIBC banking centre on showing immigration documents (IMM5292/IMM5688), only to someone new to CIBC with no CIBC products or an existing client with no CIBC credit card, only on the first approved CIBC credit card, as an unsecured card, with the final limit at CIBC's discretion.
• CIBC pairs a credit card with the Smart Account for Newcomers (permanent residents), the Smart Account for Foreign Workers (foreign workers) or student banking (international students).

CIBC's newcomer credit card page also describes annual fee rebate offers on the CIBC Dividend Visa Infinite, Dividend Platinum Visa, Aventura Visa Infinite and Aventura Gold Visa cards, with the conditions in the offers' terms on that page. CIBC says the monthly account fee on the Smart Account for Newcomers is rebated for two years, after which regular monthly account fees apply without notice. Accounts for newcomers are compared on newcomer bank accounts. CIBC’s newcomer credit card page has the details.

RBC

• RBC says newcomers can get an RBC credit card with a limit of up to $15,000 even with no Canadian credit history. Its terms for that limit name permanent residents who arrived in Canada within the last 12 months and temporary resident workers who arrived within the last 48 months, applying for a new RBC personal credit card other than the RBC Rate Advantage Visa, and say existing RBC personal credit card holders are not eligible; the limit is based on financial information about the applicant, including income, and higher limits are subject to higher income. Separately, RBC says a card with no credit history required is available to permanent residents and international students who arrived within the last 12 months and temporary resident workers who arrived within the last 48 months, who also meet RBC's eligibility and credit criteria.

RBC’s credit cards for newcomers page has the current terms.

Scotiabank

• Scotiabank's StartRight program is available only to permanent residents who have been in Canada 0 to 5 years, international students and foreign workers. A permanent resident brings a permanent resident card or Confirmation of Permanent Residence and a foreign passport or Canadian government-issued photo ID; a foreign worker brings a work permit and photo ID, and a foreign worker applying for a credit card also needs a letter from a Canadian employer confirming annual income.
• Scotiabank says a StartRight participant can get an unsecured credit card with a limit of up to $15,000 and that a credit history in Canada isn't required. To qualify the applicant must be a resident of Canada and of the age of majority where they live; approval and the limit depend on Scotiabank's credit criteria, including verifiable income and credit history if available, and Scotiabank can change the limit without notice.

Scotiabank’s StartRight offer page has the full conditions.

TD

• TD's newcomer page says its newcomer banking packages include unsecured credit cards for those without a credit history, and that its Newcomer Banking Program offers credit limits up to $15,000 even without any Canadian credit history yet. To be eligible, TD says, an applicant must meet criteria such as the appropriate landing status, a Social Insurance Number (SIN) and valid identification. The page says newcomer credit card programs typically cover permanent residents, holders of a valid Canadian work permit that allows them to work, and international students at a designated learning institution with a valid study permit, and that eligibility usually extends to people who arrived in Canada within the last five years.
• TD says it is always willing to consider new immigrants, people with little or no credit history and young people, including students, for a personal credit card, and that a person new to Canada should apply at a branch. TD's newcomer page says an applicant needs to be of the age of majority in their province and a Canadian resident.

TD’s page on credit cards for newcomers has its current terms.

Who qualifies: new immigrants, temporary workers and international students

The banks word the groups they serve differently, so the bank’s own entry above is the place to check a status. CIBC’s and RBC’s entries give the time since arrival or permit term that counts for the statuses they name, Scotiabank’s gives its own, and TD’s gives the usual time since arrival its page names; CIBC also pairs a card with student banking for international students. Temporary or foreign workers are named in CIBC’s, RBC’s and Scotiabank’s entries, and holders of a valid work permit in TD’s.

Cards for students are compared on student credit cards. Scotiabank and TD ask for the age of majority where you live, and the ages of majority the first-card page lists cover most provinces and territories.

What to bring

Scotiabank’s and CIBC’s document lists are in their entries above, including the letter from a Canadian employer that Scotiabank asks of a foreign worker applying for a card. BMO’s and RBC’s newcomer pages, linked in their entries, list what to provide, including proof of your status in Canada. TD’s entry names criteria its page lists, such as landing status, a Social Insurance Number and valid identification, and says a person new to Canada should apply at a branch.

Using credit history from another country

Scotiabank describes a way for some newcomers who already have one of its credit cards to use a credit history from their home country, on its Nova Credit page: Scotiabank says a client can use the credit history built in their home country, through the third-party service Nova Credit, to apply for a higher limit on a Scotiabank credit card they already have. It lists who can apply: a permanent resident, foreign worker, temporary worker or international student who is from one of the 15 countries it names (Australia, Austria, Dominican Republic, India, Kenya, Mexico, Nigeria, Philippines, South Africa, South Korea, Spain, Switzerland, the United Kingdom, the United States and Ukraine; a list it says can change without notice) and has been in Canada for less than two years, subject to credit approval and other conditions. Scotiabank isn't responsible for the service or its reports, and accessing the report may affect the home-country credit score.

If you aren’t approved: secured and prepaid cards

BMO’s entry above names a secured card as its fallback. FCAC describes when a secured card can help: A secured credit card may be an option if you don’t have a credit history or if you have bad credit. You must provide a security deposit to get a secured credit card. The issuers’ deposit and reporting terms are on secured credit cards. A prepaid card is different: purchases come out of a balance already on the card, and prepaid cards compares them.

Building a Canadian credit file from the first month

FCAC says that lenders use your credit history when deciding whether to lend to you, how much interest to charge and what credit limit to offer, and that a poor or limited credit history may make it harder to get a credit card. Secured card issuers’ statements on reporting to the credit bureaus are under reporting on the secured page. In short, Card issuers give an interest-free grace period to pay for the previous month's purchases, beginning on the last day of the billing period, and federally regulated financial institutions must provide at least 21 days. It doesn't apply to cash advances, cash-like transactions and balance transfers, and interest applies if the balance isn't paid in full by the due date. The full rule is on how credit card interest works. FCAC also notes that errors in a credit report can stand in the way of a card: Errors in your credit report may be the reason you couldn’t get an unsecured credit card. The steps for a new file are on building credit from scratch.

Related pages

• Newcomer bank accounts: bank accounts for newcomers.
• Money for newcomers: settling-in costs and money basics.
• Student credit cards: cards for students, international students included.
• Your first credit card: routes to a first card.
• Secured credit cards and prepaid cards.
• Getting approved: what card issuers check.