Back to learn

Can I get a credit card with no job?

4 min read

person reading something on their phone

Written By


Can I get a credit card with no income?

Good news: it’s entirely possible to get a credit card with no income in Canada. Most financial companies will consider a few factors aside from your income when assessing your credit card eligibility. These factors may include your credit score, employment history, and other financial assets. Credit card issuers want to make sure you have the resources to pay off any outstanding balance on your card.

For example, some banks may issue credit cards to unemployed individuals who have enough assets to cover the credit card's cost. This could include investments such as stocks and bonds, real estate, or other forms of liquid assets.

Banks may also sometimes consider alternative forms of income, such as government assistance or pension payments. These may be considered as part of the credit card’s eligibility criteria.

You need to demonstrate that you can make timely payments on your account even if you are approved for a credit card with no income. Late payments will incur additional fees and could lower your credit score.

You may contact your financial institution to provide you with information and options about the eligibility criteria and the process of applying for a credit card with no income.

How to get a credit card without a job?

There are a few options available to you in Canada if you are looking to get a credit card without a job. The first is to apply for a secured credit card. This type of credit card requires you to put down a deposit as collateral to secure the card. You may also get a prepaid card that requires you to load money before using it.

Another way to get a credit card without a job is by getting a student credit card. These cards are designed for those who are currently attending college or university and don’t have a regular job. However, the requirements for these cards can differ from one lender to another.

You may apply for a credit card that does not require a job if you are unable to qualify for any of these cards. These cards are usually designed for those with bad credit and may have higher interest rates and fees than other cards.

No matter what type of card you apply for, it is important to read the fine print and understand the terms and conditions before you apply. This will help you get the best possible credit card for your particular financial needs.

Does Unemployment Affect Credit?

Credit may be significantly affected by unemployment. When someone loses their job, they can find it difficult to cover their expenses. They may miss payments on existing debts, such as credit cards. Their credit score will drop if the missed payments are reported to the credit bureaus.

It is not impossible to qualify for new credit when unemployed. However, lenders may be more hesitant to approve applications from those without a regular source of income.

Even when someone is employed, it may still be difficult to rebuild their credit if they have previously been unemployed and have missed payments. This is because the negative transactions remain on their credit report for up to seven years.

If you are unemployed or facing unemployment, it is important to consider how this can affect your credit score and your ability to access new credit. It may be wise to focus on paying down existing debts and working with creditors to make alternative payment arrangements while you are out of work.

Note: KOHO product information and/or features may have been updated since this blog post was published. Please refer to our KOHO Plans page for our most up to date account information!


AboutAffiliatesCareersCommunity DiscountsCultureEnterpriseLearnNewcomersTravelStatusStudent & Graduate Discounts


The KOHO Mastercard® Prepaid card is issued by KOHO Financial Inc. pursuant to license by Mastercard International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

By using this website, you accept our Terms and Conditions. Follow these links for more information on our Privacy Policy and Accessibility Policy. © 2024 KOHO Financial Inc.