The minimum credit score for credit card approval in Canada depends on the card you want. Generally, you need a good score (660+) to apply for most cards with rewards and benefits, but there are options for bad and fair credit applicants. Find out what credit score is needed for a credit card in Canada, and review cards for bad, fair, good and excellent scores.
Minimum credit score for popular Canadian credit cards
What credit score is needed for a credit card in Canada?
There is no minimum credit score for credit card approval in Canada—you can apply with any score. But you won’t get approved for most cards unless your score is at least 660 (good). Many credit cards come with rewards points, cash back and free insurance. Credit cards for bad and fair credit are easier to get but may come with lower limits and less benefits.
Poor (300-559). Your credit needs work, but you might qualify for credit builder programs.
Fair (560-659). You can qualify for basic credit cards with little/no perks. Improve your score to qualify for cards with more benefits and higher limits.
Good (660-724). You can apply for most credit cards but may not get the lowest rates.
Very good (725-759). You can apply for most cards.
Excellent (760-900). You should have few problems getting a credit card, loan or mortgage. You can qualify for luxury cards with valuable benefits.
Get $25.00 when you apply for the Neo Credit Mastercard. Plus, get up to 15% cashback on your first purchases at Neo partners. Plus, you'll earn a solid cash back return on your everyday spending. With the Neo Credit Mastercard, earn an average cash back of 5% (or 6% with the Premium plan) at local and national Neo partners including food delivery, streaming and rideshare services as well as restaurants, bars, cafes and retail stores. Earn a guaranteed 1% cash back (or 3% with the Premium plan) on gas and groceries. Premium members earn 0.5% cash back on all other non-partner spending. Pay $0 or $9.99 per month for the Base or Premium plan. You can sign up for 3 different Neo credit card plans: Standard, Plus and Ultra. The card you choose will depend on how much cash back you want to earn and how much you're willing to pay for your monthly fee.
Rewards. Up to 5% cash back
Choose between 3 card types. The Standard, Plus and Ultra.
Annual fee. You'll have to pay a monthly fee if you opt for the Ultra or Plus cards
No insurance. You won't get any additional perks like travel insurance, roadside assistance or purchase protection.
Annual Fee
$0
Purchase APR
19.99%
Cash Advance Rate
22.99%-31.99%
Balance transfer APR
N/A
Welcome offer
Get $25.00 when you apply for the Neo Credit Mastercard. Plus, get up to 15% cashback on your first purchases at Neo partners.
Rewards
With the Neo Credit Mastercard, earn an average cash back of 5% (or 6% with the Premium plan) at local and national Neo partners including food delivery, streaming and rideshare services as well as restaurants, bars, cafes and retail stores. Earn a guaranteed 1% cash back (or 3% with the Premium plan) on gas and groceries. Premium members earn 0.5% cash back on all other non-partner spending. Pay $0 or $9.99 per month for the Base or Premium plan.
Use the Neo Secured Credit Card up to the amount of the security deposit you provide in advance. Apply with no credit check, and start using this card to build your credit score. Earn between 0.5% and 5% cash back on your purchases.
No annual fee. Enjoy a $60 annual fee.
Easy to qualify. Neo will not conduct a credit check, so you can apply with any credit score.
Cash back rewards. Earn between 0.5% and 5% on all your purchases.
Build credit score. Use your card and make payments on time to establish good credit. Check your TransUnion credit score in the Neo app.
Limited cash back. Rewards capped at $300 per category per month.
Security deposit. You can't use this card without providing a deposit, which becomes your credit limit.
Annual Fee
$60
Purchase APR
Cash Advance Rate
22.99%-31.99%
Balance transfer APR
N/A
Welcome offer
Get $25 when you sign up
Rewards
Earn up to 5% cashback at partner restaurants & bars, up to 4% on partner apps & streaming services, up to 3% on partner gas & grocery purchases and 0.5% back on everything else.
Credit card options for poor credit
Raising your credit score will help you qualify for more cards. In the meantime, here are your credit card options for bad credit:
Prepaid credit cards. Provide a deposit, which becomes your spending limit. Prepaid cards are good for controlling your spending, and just about anyone can qualify. Unlike secured credit cards, prepaid card activity isn’t reported to credit bureaus and won’t impact your credit score.
Secured credit cards. This type of card also requires a deposit that becomes your credit limit. Secured credit card activity is reported to credit bureaus and can impact your credit score. Your deposit is returned when you close the account unless there’s an outstanding balance.
Need money right now for an emergency? Ask friends or family for help, or get a short-term personal loan (this can lead to a cycle of debt and should be a last resort). If you’re really struggling, consider joining a credit counselling program to help you consolidate debt and get your finances back on track.
If you're looking for a $0 annual fee credit card with unlimited cash back rewards and a competitive balance transfer offer, then the Tangerine Mastercard could be right for you. Earn 2% cash back in two Tangerine credit card categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and 0.5% cash back on everything else.
Annual fee. This card has a $0 annual fee.
Earn rewards. Earn 2% cash back in two Tangerine credit card categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and 0.5% cash back on everything else.
Balance transfer. Get a 1.95% interest rate on balance transfers for the first six months. To take advantage of this offer, you must complete the Balance Transfer request within 30 days of account approval and activate your card within 45 days of approval. A balance transfer fee equaling the greater of 3% or $5 will be charged on each transferred amount (fee is waived by Tangerine if you're a resident of Quebec).
Foreign transaction fee. You'll face a foreign transaction fee of 2.5% every time you use your card overseas or online with international retailers.
Limited travel benefits. Though this card offers some nice travel perks, it doesn't come with many of the travel benefits offered by more premium credit cards such as complimentary travel insurance, free flight and hotel upgrades and discounted car rentals.
Annual fee
$0
Purchase APR
20.95%
Balance transfer APR
1.95% intro for the first 6 months (then 19.95% )
Balance transfer fee
$5 or 1% of the transaction, whichever is greater
Rewards
Earn 2% cash back in two Tangerine credit card categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and 0.5% cash back on everything else.
The BMO CashBack Mastercard strikes a better balance between cost and rewards than many no-annual-fee credit cards. Earn cash back at a standard rate of 3% on the first $500 spent on groceries, earn 1% on the first $500 spent on recurring bill payments and earn 0.5% on all other eligible purchases (unlimited). Plus, earn up to 5% cash back as a welcome bonus and get a balance transfer offer.
Signup bonus. Get 5% cash back on all eligible purchases in the first three months (up to a maximum spend of $2,500).
No annual fee. This card comes with a $0 annual fee.
Earn cash back. Earn cash back at a standard rate of 3% on the first $500 spent on groceries, earn 1% on the first $500 spent on recurring bill payments and earn 0.5% on all other eligible purchases (unlimited).
Balance transfer offer. For the first 9 months, new customers can get a 0.99% introductory interest rate with a 2% fee on balance transfers from non-BMO credit cards. After that, balance transfers are subject to a 22.99% cash advance interest rate.
Discounts. Save on car rentals at National Car Rental, Alamo and Enterprise as well as prepaid hotel or property rental bookings on Booking.com. Get discounts on Cirque du Soleil shows in Canada.
Low cash back. This card's cash back rates aren't the most competitive on the market. Outside of grocery purchases and recurring bill payments, you only earn 0.5% cash back.
Limited perks. You won't get benefits like complimentary travel insurance and airport lounge access.
Balance transfer fee. A 2% fee applies to balance transfers.
Annual fee
$0
Purchase APR
20.99%
Balance transfer APR
0.99% intro for the first 9 months (then 22.99% )
Balance transfer fee
2%
Rewards
Earn cash back at a standard rate of 3% on the first $500 spent on groceries, earn 1% on the first $500 spent on recurring bill payments and earn 0.5% on all other eligible purchases (unlimited).
Earn 5x the points on eligible groceries, dining, drinks and food delivery in Canada (spend cap applies), 3x the points on eligible streaming subscriptions, 2x points on eligible ride shares, transit & gas, 1 extra point per dollar spent on eligible hotel and car rental bookings via American Express Travel Online and 1 point for every other dollar spent. You'll also get a full suite of travel insurance and purchase protection when you sign up.
Welcome offer. Earn up to 15,000 points in your first few months when you spend a certain amount of money.
Accelerated rewards. Collect a higher return on rewards when you make grocery, dining, bar, gas and transit purchases.
Purchase and travel benefits. Take advantage of complimentary coverage like travel medical, flight and baggage delay insurance, car rental coverage and purchase protection.
No annual fee for extra cardholders. Get cards for up to nine more people with no monthly or annual fee for each additional card.
Annual fee. You'll have to pay $12.99 per month ($155.88 annually) for this card.
Credit score requirement. You need a good credit score to apply, so this card isn't for applicants with bad credit.
Annual Fee
$155.88
Purchase APR
21.99%
Cash Advance Rate
21.99%
Balance transfer APR
N/A
Welcome offer
Earn up to 15,000 Membership Rewards points in your first year. Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 in purchases. That’s up to $150 towards a weekend getaway or concert tickets.
Rewards
Earn 5x the points on eligible groceries, dining, drinks and food delivery in Canada (spend cap applies), 3x the points on eligible streaming subscriptions, 2x points on eligible ride shares, transit & gas, 1 extra point per dollar spent on eligible hotel and car rental bookings via American Express Travel Online and 1 point for every other dollar spent.
The BMO eclipse Visa Infinite Privilege benefits high spenders and jet-setters. Earn 5 points per $1 spent spent on gas, groceries, dining in & out, drugstore and travel purchases. Earn 1 per $1 spent everywhere else. Plus, access airport lounges, enjoy golf club discounts around the world and get a $200 lifestyle credit annually to spend however you like.
Earn accelerated rewards. Earn 5x the BMO Points for every $1 spent on groceries, dining in and out, drugstore purchases, gas and travel. You'll earn 1 point per $1 spent on everything else.
Travel insurance. Cardholders get complimentary insurance for medical emergencies, trip cancellations/delays, baggage theft/damage, hotel burglaries, common carrier accidents, car rental theft/damage and more.
Annual lifestyle credit. You'll receive a get a $200 lifestyle credit annually to spend however you like.
Sign up bonus. Get up to 120,000 welcome points. Earn 50,000 points after you spend a minimum of $6,000 within the first 3 months, plus earn 30,000 points when you spend at least $30,000 in the first 6 months. Get an additional 40,000 points when you spend at least $75,000 by your first anniversary.
Annual fee. You'll pay $499 annually for this card.
Currency conversion fee. Pay a 2.5% fee for non-CAD transactions.
Minimum income requirement. To be eligible for this card, you need a personal income of $150,000 or a household income of $200,000.
Annual Fee
$499
Purchase APR
20.99%
Cash Advance Rate
23.99%
Balance transfer APR
23.99%
Welcome offer
Get up to 120,000 welcome points. Earn 50,000 points after you spend a minimum of $6,000 within the first 3 months, plus earn 30,000 points when you spend at least $30,000 in the first 6 months. Get an additional 40,000 points when you spend at least $75,000 by your first anniversary.
Rewards
Earn 5x the BMO Points for every $1 spent on groceries, dining in and out, drugstore purchases, gas and travel. You'll earn 1 point per $1 spent on everything else.
What is a good credit score in Canada?
Credit scores in Canada range from 300-900 points. A “good” credit score is considered to be 660+. Scores ranging from 725 to 759 are considered “very good,” while “excellent” scores are 760 and above. If you have a good credit score, you can qualify for most credit cards.
What is the average credit score in Canada?
In Canada, the average credit score is around 650-750. Most borrowers in Canada have a good credit score between 660-724. A 2023 FICO report reveals that Canadians on average have a credit score of 762, a figure that has remained unchanged since 2022.
How can I check my credit score?
Every year, you can get a free copy of your credit report, which shows your credit score and details of your borrowing history, from Canada’s two main credit bureaus: Equifax and TransUnion. You can apply online or via the mail, and there’s no fee unless you order subsequent copies.
Choose a credit bureau. Apply on the bureau’s website.
Fill out a request. Provide personal information like your name, address and previous addresses from the last 3-5 years.
Provide proof of ID. Submit a copy of two pieces of government-issued ID like a driver’s license or passport.
Choose a delivery method. View your credit report online or receive a hard copy in the mail.
You can also get an approximation of your score through third-party platforms like Borrowell, Credit Karma, Credit Verify or the Marble Financing Score-Up program. Some banks and financial institutions let customers view their credit scores.
How to improve your credit score
Use credit often. It might seem counterintuitive, but the more you use your card, the faster your credit score will rise if you keep up with payments.
Make payments on time. Your payment history accounts for roughly 35% of your credit score, so it’s important to be consistent.
Pay off your balance monthly. Pay off your balance fully every month to improve your score and avoid interest charges.
Use different types of credit. Using different types of credit products like credit cards, mortgages, loans and leases provides multiple opportunities to boost your score. But don’t take on more debt than you can handle.
Avoid applying for too much credit. Make sure you only apply for credit you absolutely need, since every credit check on your account will drag down your score.
Keep your balance low. Your credit utilization ratio affects your credit score. Ideally, you shouldn’t use more than 30% of your available credit.
Don’t cancel old credit cards. Instead of cancelling a card you no longer use, freeze your account but keep it open. Having unused (or underused) credit makes you look financially responsible to creditors.
Correct errors in your credit report. Promptly contact the credit bureau if you notice an error to ensure an accurate score.
Other factors that affect your credit card application
Credit card issuers weigh a range of other factors before approving or denying your request for credit, including:
Credit history Make debt repayments on time and in full, avoid carrying a balance indefinitely and use varying forms of credit responsibly.
Utilization This is the proportion of your available balance that you’re currently using on your credit card. good rule of thumb is to avoid using more than 30% of your spending limit.
Employment status Credit card issuers typically prefer full-time employed applicants, but you can still get some cards if you work part-time, are self-employed or have non-employment income like a pension.
Income vs. expenses When you apply for a credit card, you must provide information about your income and credit history to help card issuers determine if you can handle more credit.
Compare minimum credit scores for credit cards in Canada
Take a look at minimum credit scores needed for credit cards available through Finder.
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Who is most likely to be researching the minimum credit score for credit card approval?
Finder data suggests that men aged 25-34 are most likely to be researching this topic.
Response
Male (%)
Female (%)
65+
2.63%
1.60%
55-64
5.49%
3.15%
45-54
8.91%
6.70%
35-44
13.64%
9.72%
25-34
16.89%
12.24%
18-24
11.01%
8.01%
Source: Finder sample of 3,806 visitors using demographics data from Google Analytics
FAQs: Credit score needed for credit card approval in Canada
In Canada, a good credit score ranges from 660-724. Credit scores above this are very good or excellent, while scores below this are fair or poor. If you have a good score, you can apply for most credit cards and loan products (approval depends on various factors).
You can apply for a line of credit with a decent chance of approval if your credit score is very good (725-759) or higher.
The minimum credit score you need to apply for most AMEX credit cards in Canada is around 700. However, a variety of factors are considered on your application, including your income, current debt load and debt repayment history.
Your credit score is just one of many factors credit card companies use to assess your eligibility for a card. So, your application could be denied if you don't meet criteria, like:
The most important way to rebuild your credit is to make all of your payments on time. Even one missed payment can damage your credit score. Consider credit builder credit cards as an option.
Getting a credit card is tough—but not impossible—when you're a newcomer to Canada or too young to have credit in your name. Getting a secured credit card is one way to build up credit history and qualify for a card with perks and competitive rates. If you have other forms of debt, make payments on time to boost your score.
Claire Horwood was a writer at Finder, specializing in credit cards, loans and other financial products. She has a Bachelor of Arts in Gender Studies from the University of Victoria, and an Associate’s Degree in Science from Camosun College. Much of Claire’s coursework has focused on writing and statistics, with a healthy dose of social and cultural analysis mixed in for good measure. In her spare time, Claire enjoys rock climbing, travelling and drinking inordinate amounts of coffee. See full bio
Stacie Hurst is an editor at Finder, specializing in loans, banking, investing and money transfers. She has a Bachelor of Arts in Psychology and Writing, and she has completed FP Canada Institute's Financial Management Course. Before working in the publishing industry, Stacie completed one year of law school in the United States. When not working, she can usually be found watching K-dramas or playing games with her friends and family. See full bio
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