1.Secured Neo Mastercard
Neo Financial
- 15%Cash back at over 10,000 partners
- 1%Cash back on gas and groceries
The Secured Neo Mastercard offers new users a $25 to $60 cash bonus upon approval or with a qualifying purchase.
Earn up to 15% cash back at over 10,000 partners, and 1% cash back on gas and groceries.
19.99%-29.99%
22.99%-31.99%
The Secured Neo Mastercard stands out as the top choice because it offers guaranteed approval for individuals looking to build or rebuild their credit while still earning cash back rewards. With no annual fee and competitive cash back rates, it provides a unique opportunity for credit building.
Pros:
- Guaranteed approval
- No annual fee
Cons:
- Requires a security deposit
- Variable APR can be high
2.American Express Cobalt Card
American Express
- 5xPoints on eats/drinks
- 3xPoints on streaming
- 2xPoints on transit/gas
- 1xPoints on other purchases
Earn up to 15,000 Membership Rewards points by spending at least $750 in net purchases each month for the first 12 months.
Earn 5x points on eats/drinks, 3x on streaming, 2x on transit/gas, and 1x on other purchases.
21.99%
21.99%
What sets the American Express Cobalt Card apart is its exceptional earning potential, particularly for food and drink purchases, making it a favorite among those who dine out frequently. With a robust rewards structure and a significant welcome bonus, it offers substantial value for dedicated users.
Pros:
- High earning rates on dining and groceries
- Flexible rewards program
Cons:
- High annual fee
- Requires good credit
- 1.5Avion points on groceries, rideshare, gas, streaming, and digital gaming
- 1Avion points on all other purchases
The RBC ION Visa credit card currently offers a welcome bonus of 7,000 Avion points upon approval.
Earn 1.5 Avion points per $1 spent on groceries, rideshare, gas, streaming, and digital gaming.
20.99%
22.99%
The standout feature here is the RBC ION Visa's ability to earn Avion points on everyday purchases without an annual fee, making it an attractive option for those looking to maximize rewards on essential spending. Its straightforward rewards structure appeals to users who prefer simplicity in their credit card experience.
Pros:
- No annual fee
- Flexible redemption options
Cons:
- Limited high-earning categories
- Interest rates can be high
4.Scotiabank Scene+ Visa Card for Students
Scotiabank
- 2Scene+ points on groceries, entertainment, and home hardware
- 1Scene+ points on all other purchases
The Scotiabank Scene+ Visa Card for Students offers a welcome bonus of up to 10,000 Scene+ points within the first 3 months.
Earn 2 Scene+ points per $1 spent on groceries, entertainment, and home hardware purchases.
20.99%
22.99%
This card shines for its student-friendly rewards structure, allowing users to earn double points on essential purchases like groceries and entertainment. With no annual fee and a generous welcome bonus, it provides an excellent entry point for students looking to build credit while enjoying rewards.
Pros:
- No annual fee
- Great for students
Cons:
- Higher interest rates
- Limited to student applicants
Final Words
In choosing the best starter credit card with no credit history, it's essential to evaluate your options carefully to find a card that suits your financial goals. Take the time to compare features, fees, and rewards to make an informed decision that will help you build your credit effectively.
Frequently Asked Questions
The Secured Neo Mastercard offers new users a $25 to $60 cash bonus upon approval or with a qualifying purchase.
With the Secured Neo Mastercard, you can earn up to 15% cash back at over 10,000 partners, and 1% cash back on gas and groceries.
The American Express Cobalt Card has an annual fee of CA$191.88.
You can earn 5x points on eats/drinks, 3x on streaming, 2x on transit/gas, and 1x on other purchases with the American Express Cobalt Card.
The RBC ION Visa credit card currently offers a welcome bonus of 7,000 Avion points upon approval.
When selecting a starter credit card, consider factors such as annual fees, rewards rates, and whether the card reports to credit bureaus. Look for cards that offer cash back or reward points to maximize your benefits while building credit.
Most secured credit cards have minimal or no annual fees, making them accessible for new users. However, be aware of potential transaction fees and interest rates, which can vary by card.
To apply for a starter credit card, you'll typically need to provide personal information, income details, and may need to make a refundable security deposit for secured cards. Most applications can be completed online for convenience.
