Credit cards for temporary residents in Canada

There are a number of Canadian credit cards for non-residents that you might be able to qualify for if you’re new to Canada. These include unsecured, secured and prepaid credit cards. Compare credit cards for non-permanent residents and find out more about which type of credit card for temporary residents could be the best fit for you.

What is a temporary resident?

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. Visits for temporary residents usually last up to six months or longer, and most temporary residents have a visa or residency permit that allows them to stay in Canada for a specified period of time.

4 ways for non-residents to get a credit card in Canada

There are a few options for Canadian credit cards for non-residents that you can look into if you’re immigrating to Canada or staying in the country for an extended period of time.

1. Sign up for a newcomer to Canada credit card for temporary residents

Many big banks and some smaller financial institutions may allow you to sign up for a newcomer credit card for temporary residents as part of a comprehensive “welcome to Canada” banking package. These credit cards are unsecured and can help you build your credit.

Examples: RBC Cash Back Mastercard and the HSBC Advance Mastercard

• Expand to compare newcomer banking programs and eligible credit cards in this table below

  Provider	Credit card eligibility requirements include:	Examples of Credit Cards	Additional information for temporary residents
  BMO	Be a foreign worker with valid work permit (IMM 1442) Must have arrived in Canada within the last 5 years Approval may require deposit or collateral worth the full amount of the credit card	BMO CashBack Mastercard BMO AIR MILES Mastercard BMO Rewards Mastercard	Find out more information about BMO’s NewStartTM Program
  CIBC	Temporary resident in Canada with a valid work permit (IMM 1442) Reached age of majority in your province or territory	CIBC Aventura Gold Visa Card CIBC Aventura Visa Card CIBC Dividend Visa Card CIBC Dividend Platinum Visa Card	Find out more information about CIBC’s Smart for Foreign Worker Program
  HSBC	You’ve been a resident for less than 5 years. Must be a work permit holder Have not had any HSBC account or product in the past.	HSBC +Rewards™ Mastercard® HSBC Advance Mastercard HSBC Mastercard	Find out more information about HSBC Canada Newcomers Program
  National Bank	Credit card only available in year 2 and 3 of enrollment in Newcomer Banking Package Be 17 years of age or older Apply to open an account from another country or within 5 years after arriving in Canada	National Bank mycredit Mastercard National Bank MC1 Mastercard National Bank Allure Mastercard	Find out more information about National Bank’s offer for newcomers to Canada
  RBC	Available to international students who arrived in Canada within the last 12 months, and temporary resident workers who arrived in Canada within the last 48 months If you don’t qualify for an unsecured credit card, you may still be eligible for a credit card if you provide a security deposit	RBC Cash Back Mastercard RBC Rewards+ Visa Card RBC Avion Visa Platinum Card	Find out more information about the RBC Newcomer Advantage
  Scotiabank	Must be an international student or a foreign worker Foreign worker must provide a letter from your employer in Canada stating your annual income	Scotia Momentum No-Fee Visa Card Scotiabank American Express Card Scotiabank Value Visa Card	Find out more information about the Scotiabank StartRight® program
  TD	Be a temporary resident of Canada for 5 years or less Provide proof of your status through your Temporary Permit Have never opened or held a TD chequing account Are the age of majority in your province or territory of residence	TD Cash Back Visa Card TD Rewards Visa Card	Find out more information about TD’s New to Canada banking package

  The information in this table is current as of March 10, 2021

2. Purchase a prepaid credit card for non-residents in Canada

You need to load money onto a prepaid credit card for temporary residents before you use it. You can buy these cards from grocery stores or apply for them from your bank or a financial institution. Prepaid cards don’t come with interest and using them won’t affect your credit score.

Examples. KOHO Prepaid Visa Card or Mogo Visa Platinum Prepaid Card

Compare prepaid credit cards for temporary residents

3. Sign up for 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.

Examples: Refresh Financial Secured Card and the Capital One Secured Credit Card.

4. Compare secured credit cards for temporary residents

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: Scene Scotiacard Visa Debit and the BMO Debit Mastercard

How to apply for credit cards for non-permanent residents in Canada

• Eligibility requirements

  The eligibility criteria you’ll need to meet to get a credit card for non-residents in Canada will depend on which 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 require you to meet any eligibility requirements since you load money onto them and don’t get direct access to credit.
  • Secured credit card. You’ll typically need to show proof of residency and a Canadian bank account to qualify. You’ll also need to have enough money set aside to secure your credit limit (which could be between $500 and $10,000).
  • Visa Debit or Debit Mastercard. You’ll have to register for a Visa Debit or Debit Mastercard with your Canadian bank account. This means you’ll need to meet the requirements to hold a Canadian bank account in order to qualify for this type of card.

• Required documents

  You may need some or all of the following documents in order to qualify for credit cards for temporary residents:

  • Visa or residency permit. You’ll need to provide a copy of your valid temporary, student or work visa.
  • Passport. You’ll have to supply your passport number and/or a certified copy of your passport for the application.
  • Address. You must have a valid Canadian address in order to apply for a credit card for temporary residents in Canada.
  • School or employment details. You may need to provide information about your school or employment, including how much income you’ll make during your visit.
  • Bank account information. You’ll likely be required to provide details of a Canadian bank account to qualify.

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 a new immigrant. This can make it easier for you to get approved for lower interest rates on future loans or mortgages. Building your Canadian credit history is important since banks will only look at this score – and not your credit score from back home – to determine your eligibility for financing in Canada.

This can be a good thing if you have bad credit at home because it means you get to start fresh. It can be a bad thing if you had good credit before coming to Canada since you’ll have to build your credit score all over again. If you have good credit at home, you may want to provide proof of this just in case your credit card issuer is able to factor this into their approval process.

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6 Easy ways new Canadians can build credit fast

If you don’t have permanent ties to Canada, you’ll likely be seen by credit card issuers as a higher risk borrower. Before you apply for credit cards for temporary residents, make sure you 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 the person from whom you rent your home, your employer or any other individual that you have financial obligations with.
• Your first Canadian card will likely have a low credit limit. As a temporary resident, you’ll likely be granted a much lower credit card limit than you would normally expect as a Canadian citizen. If you use the card regularly and make your repayments on time, you’ll be able to apply for a credit limit increase at a later date.
• Pay your bills on time. Your Canadian payment history with phone, Internet and electricity companies may also be reviewed to check for late payments or defaults. If you want to qualify for other credit products in Canada as a temporary resident, you should aim to have excellent credit while you’re here.
• You might not find out why your application was denied. You may not be notified as to why your application was rejected if you’re a temporary resident applying for a credit card.

Pros and cons of getting a card as a temporary resident

Bottom line

You have several options to get a credit card as a temporary resident in Canada. 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 may also be eligible for a secured or prepaid credit card. Compare Canadian credit cards for non-residents to find the best fit for your unique set of needs and budget.

Frequently asked questions

• Can a non-resident get a credit card in Canada?

  Yes. Non-residents can get a credit card in Canada if they sign up for a newcomers banking package or put money down to get a secured or prepaid card.

• Can a US citizen get a Canadian credit card?

  A US citizen can get a Canadian credit card if they are living temporarily in Canada and can show proof of a Canadian address. They won’t typically be eligible to apply if they’re trying to get a Canadian credit card while still living in the US.

• What's the best credit card for international students in Canada?

  That depends on whether you want access to credit or you would prefer to prepay your card. If you want to keep your interest rates down, you might like to choose the Scotiabank Value Visa Card. To earn rewards, you could sign up for the TD Rewards Visa Card. If you would prefer a prepaid or secured credit card for international students in Canada, you may want to look into the KOHO Prepaid Visa Card or the Refresh Financial Secured Card.

• What's the best credit card for work permit holders in Canada?

  Similar to international students, the best credit card for work permit holders in Canada will depend on what type of credit card you want. Your best bet is to compare credit cards and newcomer to Canada banking programs to find the best fit for you. You can also explore secured or prepaid credit cards if you’re having trouble qualifying for an unsecured card.

• What happens if I default on my credit card and leave the country?

  Collections proceedings will begin against you and will remain in place if you ever decide to return to Canada.