Credit cards for temporary residents in Canada
Find out how you can get a credit card as a temporary resident, work permit holder or immigrant to Canada.
Can a non-resident get a credit card in Canada? Yes, there are Canadian credit cards for work permit holders, non-residents and new immigrants, plus the Big Six banks in Canada all offer special banking programs with discounts for newcomers to Canada. Find the best credit card for temporary residents in Canada, and apply online today.
- Get a regular credit card for temporary residents
- Get a secured credit card for temporary residents
- Buy a prepaid credit card
1. Get a regular credit card for temporary residents in Canada
Many big banks and some smaller financial institutions might allow you to sign up for a newcomer credit card for temporary residents as part of a “welcome to Canada” banking package. These credit cards are unsecured and can help you build credit.
What is the best credit card for temporary residents in Canada?
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2. Get a secured credit card for temporary residents
Secured credit cards for temporary residents require you to put money down in advance as collateral to secure the money you borrow. This deposit can be used by your provider to pay off your balance if you default on your payments. You’ll pay interest on any money you borrow with a secured card and your credit score can go up or down depending on how often you make regular payments.
Example: Capital One Secured Credit Card
3. Buy a prepaid credit card for non-residents in Canada
You need to load money onto a prepaid credit card for temporary residents to use it. Buy these cards from grocery stores, or apply at your bank or financial institution. Prepaid cards come with a 0% interest rate and don’t affect your credit score.
Example: Neo Money Account Prepaid Card
Alternative to credit cards: Use a Visa Debit or Debit Mastercard
If you need a credit card to shop online or pay bills, you may be able to get by with a Visa Debit or Debit Mastercard. These are debit cards that are affiliated with a credit card but only allow you to spend money out of your bank account.
Examples: ScotiaCard Visa Debit (earn Scene+ rewards points on your purchases) and the BMO Debit Mastercard
Key takeaways
- Credit card options for temporary residents in Canada include regular credit cards, secured credit cards and prepaid cards. Non-credit alternatives include Visa Debit and Debit Mastercard.
- To qualify, be prepared to show proof of residency, such as a work or study permit.
- BMO, CIBC, National Bank, RBC, Scotiabank and TD offer banking discounts and special perks for newcomers to Canada.
- A regular or secured credit card can help you establish a credit history in Canada and qualify for other credit products like loans and mortgages.
Explore discounted banking plans for newcomers to Canada
All six of Canada’s major banks offer banking programs designed to help newcomers manage their money and access credit. Perks of these programs typically include discounted account fees and opportunities to sign up for rewards credit cards. Here’s what you need to qualify.
BMO NewStart Program
Eligibility requirements
- Must have arrived in Canada within the last five years
- Deposit required (for a secured credit card) if you have no credit history
- Proof of your status like your Canadian Permanent Resident Card, confirmation of permanent residency or your work or study permit (IMM 1442)
- Two pieces of ID
- SIN number may be required
Credit card examples
CIBC Banking for Foreign Workers
Eligibility requirements
- Must show proof of entry into Canada with supporting documents, such as landing papers, a permanent resident card or a Canadian work permit
- Must have received landed immigrant status or permanent residency in the last five years or have a Canadian work permit for at least a 12-month term
- Government-issued photo ID
- Must be the age of majority in your province or territory
National Bank’s newcomer offers
Eligibility requirements
- Available to permanent residents, temporary workers and international students
- Be 18+ years old
- Be the only person using the account
- Can open an account from 90 days before arrival up to five years after arrival in Canada
Credit card examples
- National Bank Platinum Mastercard
- National Bank World Elite Mastercard
- National Bank World Mastercard
RBC Newcomer Advantage
Eligibility requirements
- Proof of your status
- Must have arrived in Canada within the past 12 months (for permanent residents and international students) or 48 months (for temporary resident workers)
- If you don’t qualify for an unsecured credit card, you might still qualify for a secured credit card (requires a deposit)
Credit card examples
- RBC Cash Back Mastercard
- RBC ION Visa
- RBC Avion Visa Platinum Card
- RBC US Dollar Visa Gold
Scotiabank StartRight Program
Eligibility requirements
- Proof of your status. Must be an international student, foreign worker or permanent resident from 0–5 years in Canada
- Other government-issued photo ID
- Foreign worker must provide a letter from their Canadian employer stating their annual income
- Must reside in Canada
- Be the age of majority in your province or territory
TD’s newcomer banking options
Eligibility requirements
- Be a permanent or temporary resident of Canada for five years or less
- Proof of your status
- Other government-issued ID
- Be the age of majority in your province or territory
Credit card examples
What do foreign workers & work permit holders need to apply for a credit card?
Eligibility requirements
The eligibility criteria you’ll need to meet to get a credit card for non-residents in Canada depends on the type of card you get.
- Newcomer to Canada credit card. You’ll usually need to provide proof of residency and a Canadian bank account to qualify for these cards. You’ll also need to be the age of majority in your province of residence.
- Prepaid credit card. Prepaid cards don’t typically have eligibility requirements, since cardholders must provide a deposit that becomes your credit limit (you don’t use borrowed funds). If you need a credit card for work permit holders in Canada, this can be a great option.
- Secured credit card. You typically need to show proof of residency and have a Canadian bank account to qualify. You also need enough money to secure your credit limit (usually between $500 and $10,000).
- Visa Debit or Debit Mastercard. Most Canadian banks issue a Visa Debit or Debit Mastercard when you open a bank account. So, you need to be eligible for a Canadian bank account to qualify for this type of card.
Required documents
You may need some or all of the following documents to qualify for credit cards for temporary residents:
- Visa or residency permit. Provide a copy of your valid temporary, student or work visa.
- Passport. Supply your passport number and/or a digital copy of your passport photo page.
- Address. You must have a valid Canadian address to apply for a credit card for temporary residents in Canada.
- School or employment details. You may need to provide information about your employment or school, including your expected income.
- Bank account information. Provide details of your Canadian bank account such as the transit (branch) number, institution number and account number.
What is a temporary resident or work permit holder in Canada?
A temporary resident is a non-citizen or non-permanent resident of Canada who is legally authorized to enter the country for work, study or tourism purposes. Most temporary residents have a work permit, visa or residency permit allowing them to stay in Canada for a specific time period ranging from one day to three years.
Using a credit card to build your credit score in Canada
Using a credit card for temporary residents in Canada can help you build your credit score as an immigrant. This makes it easier to get approved for low interest rates on future loans and mortgages. Building your Canadian credit history is important since banks will only look at this score—not your credit score in your home country—to determine your eligibility for financing in Canada.
If you have bad credit in your home country, this means you get a fresh start in Canada. But it can be a bad thing if you had good credit before coming to Canada, since you’ll have to reestablish your credit score. If you have good credit at home, you may want to provide proof of this to your credit card issuer in case it increases your odds of approval.
How do I check my Canadian credit score?
You can request a free copy of your credit report each year from Canada’s main credit bureaus, Equifax and TransUnion. Requests can be submitted by phone, email, online or by visiting an Equifax or TransUnion office.
Be prepared to provide two pieces of ID, including Canadian government-issued ID like a Permanent Resident Card, Certificate of Indian Status, Citizenship and Immigration form or a provincial ID card. At least one piece of ID must show your Canadian address.
Does your credit score follow you to another country?
Banks and credit card issuers in Canada only consider your Canadian credit history. Having an excellent (or bad) credit score overseas won’t impact your application for a credit card in Canada.
But if you don’t have many details on your Canadian credit file as a temporary resident, providing accurate details and additional documents will help support your application and your chance of approval. Learn more about the credit score you need to get a credit card.
What to know about building credit as a new Canadian
If you don’t have permanent ties to Canada, you’ll likely be seen by credit card issuers as a high-risk borrower. Before you apply for credit cards for temporary residents, consider the following:
- You may be asked to provide reference checks. For some applications, you’ll be asked to supply names and contact information for Canadian residents who can confirm the details you provide on your application. This could include your landlord, employer or anyone else you have a financial relationship with.
- Your first Canadian card will likely have a low credit limit. As a temporary resident, you’ll probably be granted a much lower credit card limit than you might expect. Use the card regularly and make repayments on time to apply for a credit limit increase in the future.
- Pay your bills on time. Your payment history with Canadian phone, internet and electric companies might be reviewed for signs of late payments or defaults. If you want to qualify for other credit products in Canada as a temporary resident, aim to have excellent credit while you’re here.
- You might not find out why your application was denied. Card issuers might not explain why your application was rejected if you’re a temporary resident applying for a credit card. This can also be true for applicants who are Canadian citizens or permanent residents.
Pros and cons of getting a card as a temporary resident, work permit holder or foreign worker in Canada
Pros
- Build your credit. If you plan to become a permanent resident of Canada, getting a credit card as a temporary resident will help you build your Canadian credit history.
- Flexible payments. Credit cards for temporary residents allow you to make purchases in local stores using credit, which you can then pay off as you please.
- Increased borrowing power. It may be easier to get approval for loans or a mortgage if you already have a credit card issued by a Canadian bank and maintain a good credit history.
- Make bill payments. Getting a Canadian credit card for non-residents might make it easier for you to set up a mobile phone or utilities contract as you get settled in the country.
- Rewards. Some credit cards offer cash back, rewards points or special offers at specific retailers.
Cons
- Limited availability. Not all financial institutions offer credit cards to temporary residents, and those that do might only offer a limited selection of cards.
- Higher income requirements. You might need to meet high income requirements, since you don’t have a credit score to prove your creditworthiness.
- Credit history. Your credit score in Canada could go down if you apply for a credit card and you’re declined (since applying typically requires a hard credit check).
- Debt. If you don’t pay off your balance promptly, you’ll gain debt, pay interest and weaken your debt-to-income ratio, which could lower your credit score.
Bottom line
If you’re looking to find the best credit card for temporary residents in Canada, you have several options. These include signing up for a newcomer to Canada banking program credit card or using your Visa Debit or Debit Mastercard instead of a credit card.
You might also be eligible for a secured or prepaid credit card. Compare Canadian credit cards for non-residents to find the best fit for your needs and budget.
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