Yes, you can get credit cards without credit checks in Canada and there are several types of no-credit-check credit cards to choose from, which include secured, prepaid and student credit cards. You can also avoid a credit check if you sign up as an authorized user on someone else’s account.
Unfortunately, it can be very difficult to get a regular unsecured credit card without submitting to a credit check. Our guide below explains the four ways you can get credit cards without credit checks.
Credit cards with no credit check allow you to get a credit card without needing to submit to a hard inquiry on your credit file. Many people want to get no-credit-check credit cards because they have bad credit or no credit history. Others want these types of cards to avoid damage to their credit scores from a hard inquiry. Some of the main types of credit cards with no credit check you may want to consider include:
Secured credit cards require you to put a deposit down to secure your credit limit. Your provider can use this deposit to pay off your balance if you default on your payments. Otherwise, you’ll get it back when you close out your card and make your last payment. You can use secured credit cards to build your credit score, but you have to pay interest on them and they usually don’t come with benefits or rewards.
Prepaid cards are available from financial institutions as well as at your local grocery store in some cases. All you need to do is buy or sign up for one, and preload money onto your account to start spending. When that money runs out, you simply load in more (kind of like making payments in advance). These cards don’t charge interest or come with rewards and they won’t help you build credit.
If you can’t find a suitable no-credit-check credit card in Canada or you’d like a more premium credit card without needing to meet eligibility criteria, you can become an authorized user on a friend’s or family member’s account. This will let you spend money on their card without the need for a credit check. Just be aware that the benefits and rewards on the card will remain in the primary cardholder’s name.
Many student credit cards don’t require you to submit to a credit check, or at the very least they will accept you with little or no credit history. These cards tend to come with few benefits and you’ll have to be a post-secondary student at an eligible institution in order to qualify. You can use these cards to build your credit score and you’ll have to pay interest on them. They are also more likely than other no-credit-check credit cards to come with benefits and rewards.
You can compare the following features to find the best no-credit-check credit cards for your personal situation:
It depends on the credit card, but most providers require you to meet these basic eligibility criteria:
You can follow these steps to apply for credit cards with no credit check:
It can take minutes up to a week to find out if you’ve been approved. If so, you’ll likely receive your card in the mail within 10 business days. Login to your card account online or phone your provider to activate your card, so you can start spending.
While each provider’s criteria is different, there are some general things you can do to increase your chances of getting approved for credit cards with no credit check:
Credit scores in Canada range from 300 up to 900, and credit card providers typically look for a credit score of 660 or higher when approving the most popular cards at higher limits. That said, whether or not you have a low credit score or no credit history at all, there are still credit cards on the market you can apply for – including secured credit cards or a prepaid card.
Credit scores are based on your credit report from one of the two credit bureaus in Canada, Equifax and TransUnion. Your credit report has information about all of the different debts you currently have, your payment history, any recent credit inquiries and more. It’s meant to give potential creditors a snapshot of how well you manage debt.
There are many credit cards with no credit check you can choose from if you have bad credit or no credit. You may also want to consider these cards if you’d like to protect your credit report from a hard inquiry. Compare different types of no-credit-check credit cards and find out which one could make the most sense for your personal situation.
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