Easiest Credit Card to Get in Canada

A secured credit card is often one of the easiest credit cards to get in Canada if you have no credit history or poor credit.

You provide a security deposit before receiving the card. This can make approval easier than with a traditional unsecured credit card.

If you mainly need a card for everyday purchases and do not need to borrow money, a prepaid Mastercard can also be an alternative.

KOHO Prepaid Mastercard

KOHO Prepaid Mastercard is a prepaid credit card that lets you spend money you already have.

With KOHO Prepaid Mastercard, you can:

• Get instant approval with no credit check

• Spend only the money you load onto your account

• Pay no interest on your purchases

• Earn up to 2% cash back

• Use your card for in-store purchases, online shopping, and recurring payments

What Credit Cards Are Easiest to Get in Canada?

There is no single card that everyone will qualify for. Your approval depends on the card issuer and your financial situation.

Some options can be easier to qualify for than standard unsecured credit cards.

Secured Credit Cards

Secured credit cards are designed for people who may have trouble qualifying for a regular credit card. They can also be useful if you have no Canadian credit history.

You provide a security deposit to the card issuer. Your credit limit is usually equal to or higher than your deposit.

For example, you might provide a $500 deposit and receive a credit card with a similar credit limit.

Student Credit Cards

Some financial institutions offer credit cards designed for students. These cards may have more accessible eligibility requirements for people who are just beginning to build credit.

Always check the income and eligibility requirements before applying.

Newcomer Credit Cards

If you recently moved to Canada, you may not have a Canadian credit history yet. Some financial institutions offer credit products specifically for newcomers.

A secured credit card can also be an option if your lack of Canadian credit history makes it difficult to qualify for a regular card.

What Is the Easiest Card to Get Without a Credit Check?

If you do not want a credit check, a prepaid card may be easier to get than a traditional credit card.

A prepaid card uses money you have already added to the account. You are not borrowing from a credit limit.

Keep in mind that a prepaid card is not the same as a credit card. It can handle many of the same everyday purchases without allowing you to carry a borrowed balance.

Can You Get a Credit Card With No Credit History?

Yes. Having no credit history does not automatically prevent you from getting a credit card.

A secured credit card is specifically identified as an option for Canadians who do not have a credit history.

Once you have a credit account, making payments on time can help you establish a positive payment history. Payment history is an important part of your credit score.

Does Easy Approval Mean Guaranteed Approval?

No. A credit card advertised as easier to qualify for can still have eligibility requirements.

Before applying, check:

• Credit score requirements

• Income requirements

• Annual fees

• Security deposit requirements

• Interest rates

• Whether payment activity is reported to the credit bureaus

Applying only for cards that fit your situation can also help you avoid unnecessary credit applications.

If getting approved for a traditional credit card is difficult, a secured credit card may be one of your most accessible credit options. If you simply need a card for spending without borrowing money, a prepaid Mastercard can provide another option.