A blank credit file is one of the biggest financial hurdles new immigrants face in their first year, since it can affect everything from apartment approvals to phone plans to car financing, not just future credit card applications.
The good news is that a real, well-established set of credit products now exists specifically to solve this problem, ranging from prepaid cards that skip credit checks to secured cards with guaranteed approval to big bank programs that explicitly waive the Canadian credit history requirement.
This guide covers 10 of the best no-credit-history credit card options for new immigrants, starting with three strong picks: KOHO, the Neo Secured Mastercard, and the PC Financial Mastercard.
No-Credit-History Credit Card Compared
| Card | Approval Method | Deposit / Requirement | Reports To | Annual/Monthly Fee |
| KOHO | No credit check (prepaid) | None; optional Credit Building add-on | Equifax | $0 (also has paid plans) |
| Neo Secured Mastercard | Guaranteed approval | Deposit from $50 | Equifax and TransUnion | $9.99/month |
| PC Financial Mastercard | Income-based, accessible to newcomers | No stated minimum income for base tier | Equifax and TransUnion | $0 |
| Home Trust Secured Visa | Guaranteed approval | Deposit $500 to $10,000 | Equifax and TransUnion | $0 (or $59/year for a lower rate) |
| Capital One Guaranteed Secured Mastercard | Guaranteed approval | Deposit $75 to $300+ | Equifax and TransUnion | $0 |
| Scotiabank StartRight (no-fee cards) | Newcomer program, no Canadian credit history required | Proof of newcomer status (PR, work/study permit) | Equifax and TransUnion | $0 |
| BMO CashBack Mastercard | No Canadian credit history required | No stated minimum income | Equifax and TransUnion | $0 |
| National Bank mycredit Mastercard | No minimum income | Age of majority, legal resident | Equifax and TransUnion | $0 |
| Vancity enviro Secured Visa | Guaranteed approval (BC credit union) | Term deposit/savings/TFSA from $500 | Equifax and TransUnion | $0 (fee-free option available) |
| ATB Alberta Mastercard – Secured | Guaranteed approval (Alberta) | Deposit from $500 | Equifax and TransUnion | $49/year |
Fees, deposit requirements, and approval criteria change periodically. Confirm current terms directly with each issuer before applying.
1. KOHO
KOHO is the most accessible starting point on this list because it isn’t a traditional credit card at all, it’s a reloadable prepaid Mastercard, so there’s no credit check involved in getting approved. You load funds onto the account and spend from your own balance, which means no debt risk and no barrier tied to a credit file that doesn’t exist yet.
The credit building feature is what makes KOHO relevant to this specific list. KOHO offers an optional Credit Building add-on for $5 to $10 a month, which reports a positive payment history to Equifax.
In practice, this works by treating your monthly subscription-style payment as a small credit obligation that gets reported, giving you a track record on your credit file without ever needing approval for a traditional line of credit.
KOHO’s base account also pays cash back on groceries, transportation, and dining, plus savings interest on your balance, making it a genuinely useful everyday spending account on top of its credit-building function.
KOHO Prepaid Mastercard
$40 welcome bonus after your first purchase of $20 or more (use GETCASH promo code during sign-up)
$0 monthly fee
Earn up to 5% unlimited cash back
Get up to 3.50% savings interest on your balance
Unlimited Interac e-Transfers and debit transactions
Low cost international money transfers
Free budgeting app
Top Canadian personal finance app
Easy access to low-fee crypto trading
2. Neo Secured Mastercard
The Neo Secured Mastercard is one of the most accessible true secured credit cards in Canada, with a minimum deposit starting at just $50, dramatically lower than most competitors. Approval is effectively guaranteed regardless of your credit background, and Neo reports your account activity to both Equifax and TransUnion monthly.
Cardholders earn up to 15% cash back at Neo’s network of partner merchants. The card carries a $9.99 monthly fee, which is worth factoring in, since it’s not a fee-free product even though the deposit requirement is low.
Why it fits this list: the combination of a $50 minimum deposit and credit bureau reporting makes it one of the fastest, most accessible ways to start building a complete Canadian credit file from a small upfront cost.
Neo Secured Mastercard
Rewards: Earn up to 15% boosted cashback at thousands of partners across Canada.
Welcome offer: $25 welcome bonus.
Interest rates: 19.99%-29.99% for purchases; 22.99% – 31.99% for cash advances.
Annual fee: $9.99 monthly
Credit limit: Starts at $50.
Credit score required: Poor or bad credit score.
3. PC Financial Mastercard
The PC Financial Mastercard charges no annual fee and earns PC Optimum points (1,000 points equal $1 in value), redeemable at Loblaw-owned grocery and pharmacy banners across the country. It’s accessible to newcomers with limited Canadian financial history, and applicants may automatically be considered for higher-tier versions of the card based on income once that history develops.
It’s also worth knowing that PC Financial is now part of Equitable Bank’s EQ Bank following an acquisition that closed in July 2026
Why it fits this list: for newcomers who already shop at Loblaw-owned stores e.g. Real Canadian Superstore, which are widespread across Canada, this card offers a useful rewards structure while also working as a credit-building tool.
4. Home Trust Secured Visa
Home Trust’s Secured Visa remains one of the most established secured cards in Canada, with a deposit range of $500 to $10,000 that sets your credit limit directly. The no-fee version charges no annual fee at all (with a 19.99% interest rate), or you can opt into a $59-a-year version for a lower 14.90% rate.
Approval is close to guaranteed regardless of credit background, and Home Trust reports to both Equifax and TransUnion every month.
5. Capital One Guaranteed Secured Mastercard
Capital One’s Guaranteed Secured Mastercard offers one of the lowest entry points among secured cards, with a deposit starting as low as $75 (up to $300 or more for a higher credit limit, up to $2,500).
It charges no annual fee and includes benefits not always found on secured cards, including purchase assurance, extended warranty coverage, price protection, and travel-related insurance like baggage delay and rental car collision coverage.
6. Scotiabank StartRight Program
Scotiabank’s StartRight program is widely regarded as the strongest big-bank newcomer pathway in Canada, and it allows applicants to qualify for its no-fee credit cards, including a no-fee Visa and a no-fee American Express, without Canadian credit history.
In some cases, StartRight extends eligibility toward Scotiabank’s premium travel cards for newcomers who meet other qualifying criteria.
Why it fits this list specifically: it’s a pathway that gives newcomers access to rewards cards, rather than starter or secured products, from the very beginning.
7. BMO CashBack Mastercard
BMO explicitly markets this card as available to new permanent residents with no Canadian credit history, and it carries no stated minimum income requirement.
It earns 3% cash back on groceries, 1% on recurring bill payments, and 0.5% on everything else, with no annual fee, and redemption options include a statement credit, deposit to a BMO account, or investing through BMO InvestorLine.
8. National Bank mycredit Mastercard
The National Bank mycredit Mastercard has no minimum income requirement, only asking that you be the age of majority in your province and a legal resident of Canada.
It earns 1% cash back on restaurants and eligible recurring bill payments, and 0.5% on everything else, applied automatically as a statement credit. National Bank also operates its own broader newcomer program alongside this card.
9. Vancity enviro Secured Visa
Vancity, a BC-based credit union, offers its enviro Secured Visa specifically to people who immigrated to Canada more than 2 years ago with limited or no Canadian credit history, as well as those rebuilding credit after past financial difficulty.
Approval is secured through a term deposit, high-interest savings account, or TFSA starting at a minimum of $500, which also earns interest while it backs your credit limit.
10. ATB Alberta Mastercard – Secured
ATB, Alberta’s provincially owned financial institution, offers a Secured Mastercard with a $49 annual fee and a 19.99% purchase interest rate, matching Home Trust’s standard rate, backed by a minimum $500 deposit.
It also includes a benefit not common among secured cards: up to 25% off car rentals at participating Avis and Budget locations.
How Credit Building Actually Works From Here
Whichever card you choose, the mechanics of building credit are the same. Use the card for small, regular purchases, pay the full balance every month rather than carrying a balance, and keep your utilization (the share of your credit limit you’re using) below roughly 30%.
Many newcomers see a usable credit score emerge within about 6 months of consistent activity, with 12 to 18 months generally being enough to qualify for mainstream credit products, including more competitive mortgage rates, once your file has enough history behind it.
FAQs
Which card is easiest to get approved for with zero credit history?
KOHO requires no credit check at all since it’s a prepaid card, making it the single easiest option to start with immediately. Among true secured credit cards, the Neo Secured Mastercard’s $50 minimum deposit is the lowest barrier to entry.
Do I need a Canadian credit history to get approved for BMO or Scotiabank’s newcomer cards?
No. Both BMO’s CashBack Mastercard and Scotiabank’s StartRight program explicitly state they’ll approve applicants with no Canadian credit history, provided you meet other basic eligibility criteria like legal residency status.
What’s the difference between a secured card and a card like KOHO?
A secured card is a credit card backed by a refundable deposit that sets your credit limit; it reports to the credit bureaus as a real credit product. KOHO is a prepaid card, not a credit product, so its everyday use doesn’t build credit unless you specifically add the optional Credit Building feature, which functions differently from a standard secured card.
How much money do I need upfront to start building credit as a newcomer?
It varies significantly. KOHO requires no upfront deposit at all. The Neo Secured Mastercard starts at a $50 deposit. Most other secured cards on this list, including Home Trust, Vancity, and ATB, require a minimum deposit of $500.
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