Credit scores
Best Credit Cards to Build or Rebuild Credit in Canada
The easiest Canadian credit cards to get approved for, secured and guaranteed cards, and the habits that raise your score fastest.
What is the easiest credit card to get in Canada?
Secured and guaranteed cards approve almost everyone, such as the Capital One Guaranteed Mastercard (29.9% interest). Among regular cards, no-fee cards with no stated income requirement are easiest: Scotiabank American Express, SimplyCash Card from American Express, BMO CashBack Mastercard, ATB Gold Cash Rewards Mastercard.
| Card | Annual fee | Net annual rewards |
|---|---|---|
| TopCapital One Guaranteed Mastercard | $0 | $0 |
| Scotiabank American Express | $0 | $364 |
| SimplyCash Card from American Express | $0 | $329 |
| BMO CashBack Mastercard | $0 | $282 |
| ATB Gold Cash Rewards Mastercard | $0 | $252 |
| ATB Gold My Rewards Mastercard | $0 | $248 |
| Tangerine Money-Back Mastercard | $0 | $246 |
How does a secured credit card work?
You give the issuer a deposit (often $75–$500) that becomes your credit limit. It reports to Equifax and TransUnion like any card, so on-time payments build your score. After about a year of good use, many issuers upgrade you and return the deposit.
What builds credit fastest?
Paying on time every month (the biggest factor), using under 30% of your limit, and leaving accounts open. Avoid applying for several cards at once; each hard inquiry stays on your Equifax report for 3 years.
How long does it take to build credit?
You can have a score after about 6 months of reported activity. A late payment stays on your report for up to 6 years, and a first bankruptcy about 6 years after discharge (7 in some provinces with TransUnion).
Official sources and further reading
Terms vary by product. Confirm the provider’s current terms before acting. This guide does not predict approval, realized value or credit-score changes. How WalletReturn calculates value