Credit card chip

What is the Minimum Credit Score for Credit Card Approval?

Loan Express does not require credit checks, decline a loan based off a credit check, nor do credit checks affect the minimum approved amount of the loan. The following article is purely for educational purposes.

If you’re hoping to get approved for a credit card, you’re required to meet all of the minimum criteria from the card’s issuer. Being declined for a credit card can be upsetting, however, you can improve your chances of approval. Applying for credit cards that are properly suited to your current credit score will help increase your chances of getting approved.

The less debt you have accumulated and the more often you make timely payments to your current credit card, the more likely you’ll qualify for lower credit card rates and higher rewards.

What Credit Score Is Needed to Apply for a Credit Card in Canada?

The minimum credit score to get a credit card in Canada does depend on the card company and credit score. 

Card NameMinimum Credit Score
Home Trust Secured Visa 300
Refresh Financial Secured Card300
HSBC +Rewards™ Mastercard®630
BMO AIR MILES Mastercard660
Scotiabank SCENE Visa Card660
Tangerine World Mastercard680
SimplyCash Preferred Card from American Express700
American Express Cobalt Card700
Scotiabank Passport Visa Infinite Card750

You can estimate your credit score with online credit card estimators. This helps you to avoid applying for a card with a minimum credit score requirement higher than what you have. It’s important to take the time to determine a credit issuer’s minimum credit score to get a credit card. Whether you apply for a credit card online or in-person at the bank, you will be able to identify what your credit score is. Therefore, if you have an average credit score of around 665, you should avoid applying for a credit card that requires a 700 minimum credit score. Whether you’re applying for your first or second credit card, the credit score you have will have an affect on your chances of getting approved.

Other Factors That Affect Your Credit Card Application

Credit card issuers consider a number of factors before they approve or deny your credit request. Those factors include the following:

Credit History

Credit card issuers review your credit history to identify whether you have good credit. The credit history is based on whether you make timely debt repayments and if you’ve avoided carrying a balance for an extensive period. This proves to the credit issuer whether or not you take your credit seriously and responsibly.


This is based on the current balance you have on a single credit card compared to the limit on the credit card. It’s important to keep your credit card debt below 30% of its spending limit.

Employment Status

Most credit card issuers prefer those applying to have secure, full-time employment. However, you can still be eligible for certain credit cards if you have a part-time job, pension, are self-employed or have a different source of income.

Income Vs. Expenses

When applying for a credit card, you have to provide the issuer with information regarding your existing income, current debts and spending habits to decide whether or not you can manage additional credit.

What Credit Cards Are Available for My Credit Score?

Most credit card issuers require people applying to have a good credit score. Even if you have the minimum credit score to get a credit card, you may still get denied. Being denied several times can harm your credit score further. If you’re asking, “what credit cards are available for my credit score,” we’ve laid out exactly which cards you can qualify for below.

Excellent Credit: 741+

If you have an excellent credit level of 741 or over, it means you have at least 10 years of timely payments and a number of accounts from credit cards to a mortgage and student loan. Even individuals with excellent credit for five years may not qualify for certain credit issuers. Once you have this credit score, you qualify for a number of top credit cards. Additionally, you can take full advantage of travel awards and promotions. With an excellent credit score, you can apply for:

Scotiabank Gold American Express® Card

The Scotiabank Gold American Express Card is a flexible rewards card with excellent spending categories for groceries, entertainment, gas, restaurant and transit. In addition, the reward rate is around 2.3%, and there’s a welcome bonus of up to 50,000 bonus points.

Minimum Credit Score for Approval of Popular Credit Cards in Canada

Good Credit: 713-740

The minimum credit score to get a credit card for popular credit cards must be at least in the 700s. The most popular credit cards in Canada include BMO, American Express, CIBC, Scotiabank and TD. These credit card companies often expect applicants to have a “Good” credit score to get approved. At this credit score level, you have a good income, debt levels and spending habits. When you get a good credit score, you can take advantage of this credit card:

BMO CashBack® Mastercard®

The BMO CashBack Mastercard is a no-fee BMO credit card that allows customers to select when they receive their cashback rewards. If you have a good credit score, you can apply for this card and enjoy 0 annual fees and a 1.01% rewards rate.

What Kind of Credit Card Can I Get If I Have Low or No Credit?

Low Credit: 300-659

If you have a low credit rating under 600, you may have missed payments or had collection accounts. If so, apply for a credit card to build up your credit again. You will likely need to apply for a secured credit card. This secured credit card can help you rebuild credit:

Secured Mastercard® from Capital One

The Capital One Secured Card can help bring your credit profile back up. After a year or two on this card, you may be able to upgrade to an unsecured credit card. Capital One does not charge annual fees as well.

New To Credit

If this is your first time getting a credit card, you do not have a credit score yet. This can make it difficult to get approved for a credit card. However, certain card issuers are designed for individuals new to credit cards that can help you build up your credit score quickly and responsibly. A great credit card for individuals new to credit is:

American Express® Aeroplan®* Card

With the American Express Aeroplan Card, individuals can earn up to 75,000 Aeroplan points. With a high credit limit with an annual fee of $120, this credit card can be helpful to new credit card holders in Canada. 

At Loan Express, we offer loans to individuals with any credit score! As long as you are over the age of 19 with appropriate documents, a stable income and a functional bank account, you are eligible. We offer instant loans across Canada to ensure individuals have instant, short-term, online loans available. Get up to $1500 in under five minutes with Loan Express wherever you live in Canada! Apply Today!