Choose an Insurance Quote
2026's Best Credit Cards for Newcomers to Canada
Are you searching for credit cards as a newcomer to Canada? We've shortlisted the best options for you.
Best Credit Cards for Newcomers to Canada
Settling in a new country can be an exciting, but challenging experience. Canada has some of the most lucrative credit card offers for newcomers to the country, who may be on the lookout for deals to save the last dollar. What’s better than finding the right credit card that helps you save while meeting all your needs? Here's our pick for the best credit card for newcomers to Canada in 2026.
| Top Features | Annual Fee | First-Year Value* | |
|---|---|---|---|
Winner: | No annual fee. A generous 5% cash back in the first 3 months. | $0 | $388 |
Runner up: | 20,000 PC Optimum™ points after your first purchase (worth $20). 25 PC Optimum™ points earned for every $1 spent at Shoppers Drugmart and 10 points spent everywhere else. | $0 | $320 |
Runner up: | 5x the BMO Rewards points for every $2 spent on groceries, dining and takeout, and recurring bills. Annual bonus points for responsible credit use. | $0 | $431 |
Winner: BMO CashBack® Mastercard®
The BMO CashBack® Mastercard® is the best newcomer card because of a generous welcome offer: 5% cash back in your first 3 months. Newcomers can also get a 0.99% introductory interest rate on balance transfers for 9 months, 2% fee applies to balance amounts transferred. Users also get 3% cash back on grocery purchases, 1% on recurring bill payments, and 0.5% unlimited cash back on all other purchases. There is zero annual fee and newcomers can enjoy the most cash back on groceries in Canada without paying an annual fee. As per our Best of Finance methodology, newcomers get a $388 first-year value.
Runners-up: Best Credit Cards for Newcomers to Canada
2. PC® Mastercard®
3. BMO eclipse rise Visa Card*
Rates, product information and reward estimates are subject to change at any time and do not constitute financial advice. This post was not sponsored. Rates.ca may receive a referral fee from our partners or affiliate links featured on the site; however, our editorial choices are objective and free from bias. The opinions expressed in this article are purely those of Rates.ca; thus, the credit card issuers and partners are not responsible for any editorials or reviews that may appear. Please visit the associated brand’s website for complete and current terms and conditions on any product or service mentioned. The information in this article is accurate as of the date of this posting, January 28, 2026. Read our full disclaimer.
Latest Credit Card Articles:
Services like Plastiq and Rentmoola allow you to pay bills – and even rent – with your credit card. But should you? We break down the pros and cons of paying for more with your plastic.
With the loonie so low, is it a good idea to open a U.S. dollar bank account? Depending on your needs, it could save you on exchange fees. You also won’t have to ever worry about converting funds…
Grocery prices are going up 4-6% in 2026. Learn the best credit cards for grocery store purchases and rewards to make your money count.
Closing a credit card may feel like the right thing to do, especially if you find yourself overspending. But before getting out the scissors, understand the risks, and follow the right steps to make a clean cut.
If you're overwhelmed by your credit card debt, consider switching to a balance transfer card. This credit card can let you roll over all your existing balances into one card, while paying significantly less interest. However, like any credit card, this one doesn't come without risks.
Before you purchase optional insurance for your rental car, check your credit card, as it may already offer coverage for rental cars. Here are our picks for the best credit cards for rental car insurance in Canada.
