Building credit as a newcomer
Last reviewed: October 19, 2026
Disclosure: Some links may earn us a commission. How we make money. A commission does not change which options we list or how we describe them.
Your credit history from another country usually doesn't follow you to Canada. Landlords, phone carriers and lenders may check your Canadian credit report, so it helps to start building one early.
How credit reports and scores work
- Canada has two main credit bureaus, Equifax and TransUnion. They keep your credit report.
- Your credit score is a number based on that report.
- You can get your own credit report, and checking it yourself doesn't hurt your score.
Official sources: FCAC, Credit reports and scores · FCAC, Getting your credit report and credit score · Bureaus: Equifax Canada · TransUnion Canada
Steps that build credit
- Open a bank account first. Many newcomer credit cards are offered once you bank with the issuer.
- Get a credit card you can manage, either a newcomer card or a secured card (below).
- Use it a little and pay the full statement balance on time, every month. Paying in full also avoids purchase interest.
- Keep your balance well below your limit.
- Check your report for mistakes once a year or so.
Official sources: FCAC, Improving your credit score · FCAC, Credit cards
Option 1: Newcomer credit cards from banks
Several big banks offer unsecured cards to newcomers without Canadian credit history. Approval and limits depend on each bank's criteria, such as income and status. Limits and rates change, so read the issuer's page.
| Issuer | What the issuer's newcomer page covers | Page |
|---|---|---|
| RBC | RBC says newcomers "can get an RBC credit card with up to a $15,000 credit limit, even with no Canadian credit history" (as of Oct 19, 2026). Per RBC's footnote, the offer is for permanent residents who arrived within the last 12 months, or temporary resident workers who arrived within the last 48 months. The limit is based on your income and other financial information. Approval isn't guaranteed. | rbcroyalbank.com |
| TD | TD says "up to a $15,000 credit limit without Canadian credit history when you bank with TD". TD Cash Back Visa: $0 annual fee, 21.99% purchases, 22.99% cash advances (21.99% in Quebec) (as of Oct 19, 2026) | td.com |
| Scotiabank | Scotiabank says "up to a $15,000 credit limit on an unsecured credit card", subject to its credit criteria including verifiable income, and the limit "is subject to change" (as of Oct 19, 2026). Optional Nova Credit is available for select countries only: Australia, Austria, Dominican Republic, India, Kenya, Mexico, Nigeria, Philippines, South Africa, South Korea, Spain, Switzerland, the United Kingdom, United States and Ukraine. Scotiabank says the list can change without notice (as of Oct 19, 2026) | scotiabank.com |
| BMO | BMO says newcomers "may apply for an unsecured credit card with a limit of up to $5,000 with no credit history", or a secured card if they don't qualify. Applications are made in a branch (as of Oct 19, 2026) | bmo.com |
| CIBC | CIBC's newcomer page names the CIBC Dividend Platinum Visa as an add-on to the newcomer account (as of Oct 19, 2026). The newcomer page doesn't list this card's annual fee, interest rate or limit, so check the card's own page before you apply. | cibc.com |
Disclosure: Some links may earn us a commission. How we make money. A commission does not change which options we list or how we describe them.
Option 2: Secured credit cards
With a secured card, you put down a deposit that usually sets your limit. You still have to pay your bill. These cards suit you if a bank says no or you'd rather not wait.
| Card | Notes | Page |
|---|---|---|
| Capital One Secured Mastercard | $0 annual fee; 29.9% standard rate for purchases, balance transfers and cash advances (21.9% for Quebec residents); security funds required; "guaranteed" approval subject to the conditions on its page (as of Oct 19, 2026) | capitalone.ca |
| Home Trust Secured Visa | No annual fee at 19.99%, or $59/year at 14.90%. Deposit sets your limit, from $500 to $10,000. Not available in Quebec. Requires permanent residency: Home Trust lists "You need to be a permanent Canadian resident" among its minimum requirements (Home Trust (as of Oct 19, 2026)). If you're a temporary resident (work or study permit), look at the Capital One Secured Mastercard above instead and check its conditions on Capital One's page. | hometrust.ca |
Disclosure: Some links may earn us a commission. How we make money. A commission does not change which options we list or how we describe them.
Watch out
- Cash advances (including paying for a money transfer with a credit card) usually start charging interest right away. See FCAC, Sending money to someone in another country.
- No one can "buy" you a credit score. Ignore offers to fix or build credit for a fee.
- Protect your SIN. A stolen SIN can be used for identity theft. Service Canada, SIN