Back to learn
Should new Canadian residents get a debit or credit card?
Rounding it up
Both credit cards and debit cards are fantastic financial tools for new Canadian residents.
Debit cards are electronic payment tools that allow you to use money that you have in the bank for daily purchases.
You can think of credit cards as a type of mini loan for your purchases that you have to pay off each month.
New residents in Canada often find that it’s easier and more practical to get a debit card first because you need a good credit history to get a credit card.
Gaby Pilson
Gaby Pilson is a writer, educator, travel guide, and lover of all things personal finance. She’s passionate about helping people feel empowered to take control of their financial lives by making investing, budgeting, and money-saving resources accessible to everyone.
Recent Articles
Upcoming trip? Here's why you should use a prepaid Visa card for travel purchases
Do I need renter's insurance in Canada?
How much should Canadians save for retirement?
What is value added tax? Is there VAT in Canada?
Is it more expensive to live in Canada or the US?
Should I keep accounts at multiple banks?
Related articles
Can a non-resident get a credit card in Canada?
5 mins
Dan BuchererNon-residents and newcomers can get a credit card in Canada. Make sure you know that’s what you want before signing the dotted line!
Can a non-resident get a credit card in Canada?
5 mins
Dan Bucherer
Non-residents and newcomers can get a credit card in Canada. Make sure you know that’s what you want before signing the dotted line!
#credit
#credit card
#newcomer
#immigration
How much money do you need to move to Canada?
7 mins
Ryan SeveranceAre you thinking about moving to Canada? Here’s how much money you’ll need to qualify for a visa and thrive once you arrive.
How much money do you need to move to Canada?
7 mins
Ryan Severance
Are you thinking about moving to Canada? Here’s how much money you’ll need to qualify for a visa and thrive once you arrive.
#newcomer
#immigration
#visa
#savings
What credit score do new Canadians start with?
8 mins
Jennifer WekslerMoving to Canada? Here are a few easy tips to help you establish and build credit from scratch.
What credit score do new Canadians start with?
8 mins
Jennifer Weksler
Moving to Canada? Here are a few easy tips to help you establish and build credit from scratch.
#newcomer
#credit
#credit history
#immigration
What should new Canadian residents look for in a credit card?
5 mins
Ryan SeveranceFinding the right credit card for you is never easy. Here’s what you should look for when signing up for your first Canadian credit card.
What should new Canadian residents look for in a credit card?
5 mins
Ryan Severance
Finding the right credit card for you is never easy. Here’s what you should look for when signing up for your first Canadian credit card.
#newcomer
#credit
#credit card
#immigration
Does your credit score matter for Canadian immigration?
6 mins
Ryan SeveranceCredit scores and the Canadian immigration process—what’s the deal? Read up on Canadian credit before making the move to the Great North.
Does your credit score matter for Canadian immigration?
6 mins
Ryan Severance
Credit scores and the Canadian immigration process—what’s the deal? Read up on Canadian credit before making the move to the Great North.
#newcomer
#credit
#credit score
#immigration
What are the most common credit card perks?
8 mins
Ally StreelmanDon’t leave free money on the table—these credit card perks can mean extra change in your pocket in no time.
What are the most common credit card perks?
8 mins
Ally Streelman
Don’t leave free money on the table—these credit card perks can mean extra change in your pocket in no time.
#credit
#credit cards
#cash back
#points