Who it's for
Canadian newcomers wanting to start with a major bank
Scotiabank Secured Visa Credit Card
Secured card from Big Five bank for newcomers and credit builders.
Last checked on September 1, 2026. We may earn a commission when you click through.
Visa
Our Verdict Recommended
A secured card from one of Canada's Big Five banks. The big-bank backing means easy graduation to unsecured cards.
| Annual fee | No annual fee |
|---|---|
| APR Range | 19.99% – 22.99% |
| Minimum credit score | 300 |
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Canadian newcomers wanting to start with a major bank
You'll be redirected to scotiabank.com
American Express Cobalt Card
Annual fee: CA$191.88
T
SimplyCash Card from American Express
No annual fee
Who it's for: Canadians with bad credit wanting dual-bureau reporting
Who it's for: Best for those who dine out frequently and spend on groceries, maximizing their rewards potential.
Who it's for: TD Bank customers building credit
Who it's for: Canadians looking for the lowest barrier to entry for a secured card that also earns rewards.
Who it's for: Newcomers wanting to build credit with a major Canadian bank
Who it's for: Best for Canadians who frequently spend on gas and groceries and prefer straightforward cashback rewards.