Best Credit Cards for New Immigrants

Building healthy credit is an inevitable task for all new immigrants in Canada. Good credit is a must for the future life of new immigrants of Canada. The banks in Canada would test or analyze the responsibility of the person on his earning and saving part. If you are good at maintaining a good credit score, then your chances of availing of credit cards are more from the banks. A lot of banks or financial institutions in Canada would come forward offering their credit cards to you without any hesitations. Obtaining a credit card and paying off the debt monthly basis without any delay and issue is an excellent choice for increasing the credit score of an individual for Canadian new immigrants.

A lot of Canadian banks are helping new immigrants for obtaining credit cards easily. The Canadian government is enhancing the methods of credit card facility to the new immigrants of Canada through banks. This is to improve the financial status of the Canadian government. The new immigrants have the advantage of obtaining both unsecured and secured cards from the banks. There are many banks in Canada that are ready to deliver unsecured cards to the applicant which we mean immigrants. These cards are very helpful to customers who feel difficult to pay an initial deposit. Also, this feature helps customers who do not have a credit history. Also, some of the new immigrants are offered secured credit cards easily by these banks even they are not willing to join the bank's program. These special features are specially meant for new immigrants to Canada by top banks. Utilizing the opportunity by the customers is inevitable. This is to encourage those newcomers by the government of Canada.

 Let us see various bank credits for new immigrants in Canada. They are

Scotiabank-No fee visa card

The credit card offered by Scotiabank is considered easy for immigrants as it costs less to them. The feature of the annual fee task is not present in this credit card. This unsecured credit card has many advantages when compared.

Customers can avail of a 1% cashback facility to the holder of the credit cards when they purchase items at grocery stores or gas stations.

The monthly interest for the customer is only 7.99% alone. This interest rate is applicable for the first six months to the customers.

Secondly, we shall sea bout American express card of Scotiabank

This credit card helps the holder to earn reward points. The reward points earned can be redeemed for travel purposes and gift cards. The following advantages are obtained by the customer after the approval by the officials

The customers gain 1 reward point for every dollar they spent

If the customers are able to spend 500$ within the first three months after approval, they are able to avail of 5000 points of reward easily

Next, we shall see about the Scene visa card

The cardholders can gain the following advantages after the approval of credit card

The above card namely scene visa card gives many advantages to the holders who love entertainment. This card is based on a reward system for the holders of the card. The main features and advantages are

One point for every dollar spent by the customer on music and movie

The customer can earn 5 points on their online ticket purchase in any cineplex theaters

the customers are eligible to receive bonus points for their purchase after spending 500$ within the first three months. The customers are able to get 2500 bonus points

The above merits of Scotia bank's credit cards are available to the customers who contact Scotia bank with proper documents.

The other versatile credit card is BMO cashback credit card. This credit card is specially meant for the Canadian new immigrants at the earliest after applying. The following are the major advantages for the cardholders

 0.5% cashback available to the cardholders only for the first three months

25% discount for car renting

cardholders can enjoy manufacture warranties

 RBC Rewards+ Visa: This card is also applicable to customers who do not want to pay an annual fee. The feature of the card is based on points earn by the customers. The customer has to spend at least 2$ for earning 1 RBC point. The customers can earn RBC points on travel and gift cards.

RBC cashback Mastercard

The cardholders of RBC Bank do not have the necessity of paying an annual fee. The customers can also get 1% back on every purchase. Especially when the customers purchase grocery item they can get a cashback of about 2$ for every 1$

The above credit cards offered to the new immigrants of Canada belong to unsecured card types. Let us see the secured card types for the customers who apply for the credit card.

As we discussed secured cards are meant for the customers who are not willing to join a bank program but they require a credit card. This is the best option for a person who does not have a good credit history in his life.

Home trust cards

The credit cards of home trust do not need any annual fee of the customers. The customers can avail of the limit of credit to the $500 and $10000 limit

Refresh financial

The cardholders of refresh financial have to pay an annual fee of about $12.95. However, the monthly and annual fee paid by this cardholder can be at $48.95. The customer's minimum deposit amount is 200$. One of the major advantages of the cardholders is guaranteed approval.

Bank requires certain formalities before disbursing credit cards to the customers

The above secured and unsecured credit cards offering banks need some basic eligibility from the customers who are willing to get credit cards. The basic identity proof, Canadian government prescribed documents for joining the bank and other papers or documents.

Based on the above features and advantages of credit card banks, the customers have to pick the best one from the group for their betterment