Introduction to Credit Card for New Immigrants Canada — Moving to a new country brings a whirlwind of changes, and one of the most essential tools for establishing a financial foothold in Canada is a credit card.
For new immigrants, understanding the nuances of credit cards is crucial in navigating the Canadian financial landscape. Let’s delve into key information about credit cards tailored to newcomers to Canada.
Types of Credit Cards Available
There are three main types of credit cards available: secured credit cards, which require a deposit and are ideal for building credit; unsecured credit cards, which do not need a deposit but rely on credit history and income; and student credit cards, designed with lower limits and benefits for students to establish credit responsibly.