The Best Credit Cards For Students In Canada

As a student in Canada, having a credit card can provide you with financial flexibility and convenience. It allows you to build credit, make purchases online, and even earn rewards on your spending.

With numerous credit card options available, it can be overwhelming to choose the right one. We will explore the top 10 credit cards for students in Canada and highlight their key features.

The Best Credit Cards For Students In Canada

1. Scotiabank SCENE Visa Card

• Annual fee: $0
• Interest rate: 19.99%
• Earn 5 SCENE points for every $1 spent at Cineplex theatres and partner locations
• Enjoy discounts on movie tickets, food, and merchandise at Cineplex theatres
• No income requirement for students

The Scotiabank SCENE Visa Card is an excellent choice for students who enjoy going to movies. You can earn SCENE points for every dollar spent, which can be redeemed for free movies, meals, and other entertainment options at Cineplex theatres.

The card offers discounts on movie tickets, food, and merchandise at Cineplex theatres, providing even more value for movie enthusiasts. With no income requirement for students, this card is accessible to a wide range of students.

2. RBC Rewards+ Visa

• Annual fee: $0
• Interest rate: 19.99%
• Earn 1 RBC Rewards point for every $1 spent
• Receive 500 bonus points upon activation
• No income requirement for students

The RBC Rewards+ Visa card allows students to earn RBC Rewards points on their purchases, which can be redeemed for flights, merchandise, or gift cards. With this card, you earn 1 RBC Rewards point for every dollar spent, allowing you to accumulate points quickly.

You receive 500 bonus points upon activation, giving you an instant head start towards your rewards. With no income requirement for students, this card is accessible to all students who want to earn rewards on their purchases.

3. TD Cash Back Visa Infinite Card

• Annual fee: $0 for the first year, $120 thereafter
• Interest rate: 20.99%
• Earn 3% cash back on eligible grocery purchases, 2% on recurring bills, and 1% on all other purchases
• Comprehensive insurance coverage included
• Minimum annual income requirement of $60,000 (can be household income)

The TD Cash Back Visa Infinite Card offers generous cash-back rewards on grocery purchases and recurring bills, making it an attractive choice for students who spend a significant amount on these categories.

With this card, you can earn 3% cash back on eligible grocery purchases, 2% on recurring bills, and 1% on all other purchases. Additionally, the card includes comprehensive insurance coverage, providing peace of mind during travels. The minimum annual income requirement of $60,000 (can be household income) may limit accessibility for some students, but it is worth considering for those who meet the requirement.

4. CIBC Dividend Visa Card for Students

• Annual fee: $0
• Interest rate: 19.99%
• Earn up to 2% cash back on eligible purchases
• No minimum annual income requirement
• Access to exclusive offers and discounts through the CIBC Dividend Program

The CIBC Dividend Visa Card for Students offers a competitive cash-back rate on eligible purchases. With this card, you can earn up to 2% cash back on your purchases, allowing you to save money on everyday expenses.

The card has no minimum annual income requirement, making it accessible to students from various financial backgrounds. Additionally, the card provides access to exclusive offers and discounts through the CIBC Dividend Program, giving you even more opportunities to save.

5. American Express Cobalt Card

• Annual fee: $120 ($10 per month)
• Interest rate: 19.99%
• Earn up to 5 points for every $1 spent on eligible purchases
• Points can be redeemed for travel, merchandise, and statement credits
• Minimum annual income requirement of $20,000

The American Express Cobalt Card offers a wide range of benefits to students who enjoy dining out and exploring new experiences. With this card, you can earn accelerated rewards of up to 5 points for every dollar spent on eligible purchases, allowing you to accumulate points quickly.

These points can be redeemed for travel, merchandise, and statement credits, providing flexibility in how you use your rewards. The minimum annual income requirement of $20,000 may limit accessibility for some students, but it is worth considering for those who meet the requirement.

6. Tangerine Money-Back Credit Card

• Annual fee: $0
• Interest rate: 19.95%
• Choose your cash back categories (up to 3) and earn 2% cash back on them
• Earn 0.5% cash back on all other purchases
• No income requirement for students

The Tangerine Money-Back Credit Card allows students to personalize their cash-back rewards by choosing their preferred spending categories. With this card, you can select up to three spending categories and earn 2% cash back on those categories.

You earn 0.5% cash back on all other purchases, providing a consistent cashback rate on all your spending. With no income requirement for students, this card is accessible to all students looking to earn cash back on their purchases.

7. Desjardins Cash Back Visa Card for Students

• Annual fee: $0
• Interest rate: 19.9%
• Earn 1% cash back on eligible purchases
• No income requirement for students
• Access to Desjardins Odyssey Lounge at Montreal-Trudeau International Airport

The Desjardins Cash Back Visa Card for Students offers a simple cash-back program, allowing you to earn rewards on your everyday purchases. With this card, you earn 1% cash back on eligible purchases, providing a consistent cashback rate.

As a cardholder, you have access to the Desjardins Odyssey Lounge at Montreal-Trudeau International Airport, offering a convenient and comfortable airport experience. With no income requirement for students, this card is accessible to all students who want to earn cash back on their purchases.

8. Capital One Mastercard for Students

• Annual fee: $0
• Interest rate: 19.8%
• No foreign transaction fees
• Credit limit increase after 6 months of responsible use
• No income requirement for students

The Capital One Mastercard for Students is an excellent choice for students who often travel outside of Canada. With this card, you can make purchases abroad without incurring additional charges, as it has no foreign transaction fees.

Responsible use of this card can lead to a credit limit increase, providing more financial flexibility. With no income requirement for students, this card is accessible to all students looking for a convenient and cost-effective option for international purchases.

9. HSBC +Rewards Mastercard

• Annual fee: $25
• Interest rate: 11.9% on purchases, 19.9% on cash advances
• Earn 2 points for every $1 spent on eligible dining and entertainment purchases
• Redeem points for travel, merchandise, and gift cards
• Minimum annual income requirement of $15,000

The HSBC +Rewards Mastercard is designed for students who value dining and entertainment experiences. With this card, you can earn 2 points for every dollar spent on eligible dining and entertainment purchases, allowing you to accumulate points quickly.

These points can be redeemed for travel, merchandise, and gift cards, providing flexibility in how you use your rewards. The minimum annual income requirement of $15,000 may limit accessibility for some students, but it is worth considering for those who meet the requirement.

Remember, before applying for a credit card, it is essential to consider your spending habits, financial situation, and the specific features and benefits offered by each card. Compare the options, understand the terms and conditions, and select the credit card that best suits your needs as a student in Canada.