Best Student Credit Cards in Canada

At OfferHub, we understand that offers on credit cards can change each year. Accordingly, we’ve done the research for you and have a comprehensive list of options that come with travel points, intro packages, low interest rates, and other special offers intended for students.




As a student, you can make savings using a personal student bank account just as you can with a student credit card. While some banking institutions offer cards designed for students, others have cards with various perks and advantages that students will find helpful.

Best Credit Cards for Students 

Interest Rate: 

19.99%

Balance Transfer: 

N/A

Annual Fee: 

$39

Card Type: 

Rewards, Student

Would you like to earn RBC Rewards in a variety of ways without paying a hefty yearly fee? That is exactly what the Signature RBC Rewards Visa will do. Not only does this card allow you to collect RBC Rewards by making purchases, but it also enables you to get insurance coverage and a few other benefits. Continue reading our review to find out if it is a good fit for your wallet.

Card Rewards

The RBC Rewards Credit Card allows users to gain a wide range of rewards that they can redeem to gain many other benefits. Some of the rewards this card has to offer include:

1. Collect the Welcome Bonus

Those who apply and get approval for this card by 2 May 2022 have a chance of gaining 7000 welcome points.

2. Get Rewards for Purchases

For every $1 you spend, you will automatically earn 1 point with no tiers, caps, or categories to consider. In addition, cardholders who purchase items from select stores receive a different number of extra points or cashback. For instance:

Collect More of Rexall’s Be Well Points with Your RBC Rewards Credit Card

Cardholders can link their RBC Rewards card with their Be Well Card when purchasing their preferred health and wellness products. In turn, they will earn 50 bonus points for every $1 they spend when buying select products at Rexall. Be Well points accrue quicker, allowing you to save more money in-store on qualified items. For instance, $10 equals 25,000 Be Well points.

3. Comprehensive Insurance Coverage

The card also features impressive coverage for purchase security, car rental, travel, and extended warranty.

4. Low annual fees

Students as well as RBC Signature No Limit Banking Clients pay no annual fees for this card. Furthermore, cardholders can opt to add another card to their account at no extra cost when it comes to annual fees.

5. Major Fuel Savings

Cardholders can save up to 3 cents a litre on gas and get 20% extra Petro-Points by connecting your RBC Rewards card to Petro-Canada.

6. Convert your Points

RBC Rewards cardholders who qualify can exchange their earned points for Hudson’s Bay, AAdvantage Miles, American Airlines, Cathay Pacific Asia Miles, British Airways Avios,  or WestJet Dollars Rewards points.

RBC Rewards Visa features an extremely versatile rewards program. Available rewards for your earned RBC points include paying off your account debt, gift cards, travel incentives, brand products, and Exclusive RBC Financial Reward coupons. It is vital to note that cardholders can use the RBC Financial Reward vouchers to buy specific investment products or even pay off their loans. The best part is that you can begin redeeming your earned points from 2,500 points.

Benefits of the Signature RBC Rewards Visa Card

  • Minimal annual charges: students and RBC Signature No Limit Banking clients and students pay no fee. Otherwise, the standard annual fee is $39, which is relatively low compared to other cards. Note that there are no extra annual costs for additional cards linked to the account.
  • Virtually anyone who is above the age of majority can get the card
  • Upon approval, you will receive 7,000 bonus welcome points.
  • Get rewards like those from a premium card. Collect 1 point for each $1 spent on eligible purchases, plus some additional points when you use your card to make purchases at certain merchants. Redeem your points for RBC Financial Rewards vouchers, gift cards, goods, and travel rewards. Starting with as little as 2,500 points, you may earn rewards!
  • Upon linking your Signature card to your DoorDash account, you qualify for $0 delivery costs for up to three months on unlimited orders. You also get a 3-month DoorPass subscription worth $30
  • Save up to $3 on every litre of gas from Petro-Canada when you use your card. Cardholders also gain 20% extra RBC Rewards Points and 20% more Petro-Canada points
  • Great insurance coverage.
  • Exceptional safety and security features. The card uses PIN and chip technology as well as Zero Liability Protection, which protects cardholders from fraudulent buys
  • The card offers a convenient and reliable payment method since you can use your Apple Watch and iPhone to pay with Apple Pay and RBC Mobile app

Cardholders can also opt to take full advantage of their card by subscribing to the optional add-on services to protect your family, your identity, and the balance in your credit card account. Such add-on services include:

  • Identity theft and credit protection
  • RBC Road Assist
  • Add-on Travel Insurance
  • Balance Protector Insurance

Details and Eligibility

The RBC Rewards Card strives to be a card that most Canadians can use; urging even students to enrol. You will need a “Good” credit score ranging from 660 to 724 to qualify for this card. However, there are no card application requirements that specify a minimal average wage limit.

When it comes to its fees and rates, the annual cost of the card is $39, which is relatively low compared to other credit cards. Students (terms and conditions apply) and RBC Signature No Limit Banking clients pay no fee. Note that there are no extra annual costs for additional cards linked to the account. On purchases, the rate of interest is 19.99 %, while balance transfers and cash advances have an interest rate of 22.99 %.

Insurance Coverage

This card also features great insurance benefits for cardholders. They include:

  • Coverage for car rental theft and damage
  • Coverage for travel accidents worth up to $500,000
  • Purchase protection for up to 90 days
  • Extended warranty insurance for up to 12 months

Signature RBC Rewards Visa FAQs

Interest Rate: 

19.99%

Balance Transfer: 

N/A

Annual Fee: 

$0

Card Type: 

Cashback, No-Fee

Interest Rate: 

19.99%

Balance Transfer: 

N/A

Annual Fee: 

$0

Card Type: 

Rewards, No-Fee

1 point/$1 On all purchases

Interest Rate: 

17.99%

Balance Transfer: 

17.99%

Annual Fee: 

$120

Card Type: 

Student, Secured

Welcome offer: Get 800 AIR MILES Bonus Miles

Interest Rate: 

19.99%

Balance Transfer: 

N/A

Annual Fee: 

$0

Card Type: 

Student No Fee Travel Rewards

  • Start off by earning 1 Mile for every $25 you spend on credit card purchases
  • Always get 3 Miles for every $25 you spend at participating AIR MILES Partners.
  • Earn Miles twice when you use your card at participating Partners

Welcome offer: Get 5% cash back in your first 3 months

Interest Rate: 

19.99%

Balance Transfer: 

N/A

Annual Fee: 

$0

Card Type: 

No Fee Cash Back

  • Earn more on groceries and get cash back for all kinds of purchases – even bill payments
  • Redeem your cash back when you want, for how much you want
  • Deposit your cash back into a BMO account (chequing, savings or InvestorLine) or get a statement credit

Get 5x the points on takeout, groceries and more

Interest Rate: 

20.99%

Balance Transfer: 

N/A

Annual Fee: 

$120

Card Type: 

Rewards

Signup/Welcome Bonus Offered from BMO Eclipse Visa Infinite

While the first requirement to earn the welcome bonus is a bit hefty, it will definitely pay off. If you can spend $3000 on your card within 90 days of activation, you’ll receive a staggering 25,000 bonus points just for that. On your 1st year anniversary of registering the card, another 15,000 bonus points will be added to your balance to be spent however you wish. On top of the 40,000 points you can earn in the first year, the annual fee will also be waived, so you will not need to spend the $120 dollars until your second year of card ownership.
  • Get up to 40,000 points and the $120 annual fee waived in the first year
  • 5x times the points for every $1 spent on groceries, dining in and out, gas and transit
  • Earn 10% more points on all purchases when you add an authorized user to your account
  • Diverse and inclusive insurance coverage
  • Affordable annual fee
  • High earn rate on frequent purchases
  • High earn rate with meaningful rewards

Welcome offer: Earn up to 20,000 bonus MBNA Rewards Points for cash back, gift cards and more. Conditions Apply.

Interest Rate: 

20.99%

Balance Transfer: 

20.99%

Annual Fee: 

$120

Card Type: 

Rewards

  • 15,000 bonus points after your first eligible purchase within the first 90 days
  • 5,000 bonus points once enrolled for e-statements within the first 90 days
  • Earn 5 points for every $1 spent on eligible purchases
  • Get up to 30,000 points (up to C$300 in travel value) as a welcome bonus within the first 90 days of opening the account.

 

Earn an extra 15% back (up to $150) on up to $1,000 of your everyday purchases in the first 2 months with a Tangerine Money-Back Credit Card

Interest Rate: 

19.95%

Balance Transfer: 

19.95%

Annual Fee: 

$0

Card Type: 

Cash Back

  • Monthly Money-Back Rewards
  • Unlimited Money-Back Rewards
  • Personalized Categories

Earn Scene+TM points on everyday purchases. Redeem Scene+ points for entertainment rewards like movies, meals and more.

Interest Rate: 

19.99%

Balance Transfer: 

22.99%

Annual Fee: 

$0

Card Type: 

Rewards

  • Earn 5,000 bonus Scene+ points with your first $750 in everyday purchases in the first 3 months
  • Earn 5 Scene+ points for every $1 you spend on credit card purchases at Cineplex™ theatres or at cineplex.com
  • Earn 1 Scene+ point for every $1 you spend on your everyday credit card purchases

Exclusively for Students – MBNA Rewards MasterCard Credit Cards

A university-specific credit card, the MBNA Rewards MasterCard provides you an opportunity to earn MBNA rewards points. The MBNA organization supports your alumni association and any other student programs by diverting a percentage of funds to them. You can find the complete list of associated institutions here. Here are some additional perks:

  • Zero annual fee
  • Interest on purchases: 19.99%
  • Ability to earn 1,000 MBNA Rewards Points on the first purchase by way of the welcome bonus
  • Interest on balance transfers: 21.99%
  • Interest on cash advances: 24.99%

Other Student-Friendly Credit Cards

Tangerine Money-Back Credit Card

Although not designed for students, the Tangerine Money-Back Credit Card has various perks that make it popular among students. Here are some of them:

  • Zero Annual fee
  • Interactive web and mobile apps
  • Ability to earn points for cash back
  • High-grade online banking services
  • Money-Back Rewards on specific purchases: 2%
  • Money-Back Rewards on other purchases: 0.50%
  • Option to have the money-back reward deposited into your credit card balance or Tangerine savings account.
  • Interest: 19.95%
  • Cash advances: 19.99%
  • And much more.

Scotiabank Scene Visa

The Scotiabank Scene Visa is another credit card that has a bunch of benefits that students find useful. Here are some of them:

  • Zero Annual fee
  • Ability to earn points redeemable for free movies on purchases using the card
  • Welcome bonus of 2,000 SCENE points that can be redeemed for 2 Free Movies
  • Offer of 5x points on every $1 purchase
  • Ability to redeem points for music downloads and WWE events
  • Ability to earn additional points when making purchases in the theatre

Student Credit Cards are extremely convenient for students attending college or university. A student credit card is a great way to start building a credit history. We can help you apply for the best student credit card for your daily expenses. You will find a list of all student credit cards available in Canada below. Compare and apply for the best student card that suits your requirements.

Below are some of the key features of a student credit card:

Easy to use the payment method

Student credit cards give you the freedom to pay your bills easy and fast and cover your daily expenses. They are modern and easy to use a payment method that will make your life easier, especially if you want to make online payments.

The starting point for your credit history

Student credit cards are the foundation for credit history and the best way to build a good credit score from an early age. As you probably know, a good credit score will define a great life, making it easier for you to buy a car or a house. They can also facilitate the way to get a new and better credit card that can bring you extra advantages and benefits.

A helpful tool to monitor your spending behaviour

Student credit cards are also a great tool to manage and get to know your spending habits. With access to online banking, you can analyze your expenses and plan to get rid of unnecessary expenditure.

Best Student Credit Cards according to offerhub.ca

Scotiabank Scene Visa

Should you opt for the student credit card from Scotiabank, here are the facilities provided:

  • No annual fee is applicable.
  • You can earn Scene points that you can redeem for watching movies. For instance, you earn 4,000 points on the first purchase you make. Given that 1,000 points can be redeemed for one movie ticket, you can get 4 free movie tickets in the general admission category.
  • Each time you spend $1 at a Cineplex theater on Scene Visa purchases at Cineplex Entertainment theatres of Cineplex.com, you can earn 5 Scene points.
  • Every purchase on the credit card earns you 1 Scene point.
  • You save 20% on the rental charges when renting a car at Avis locations.
  • By using the Sport Check facility, you can redeem your points on store purchases.

  • you don’t need to have a minimum income
  • you don’t need a credit history
  • you don’t need to pay an annual fee
  • you don’t need the co-signature of a parent or guardian
  • Besides student credit cards is the founding stone for your credit history. Having a good credit history goes a long way for future valuable investments, such as renting an apartment, get a student loan for higher education, buying a car or a house.

 

Money-Back Credit Card by Tangerine

Tangerine does not have specific cashback credit card for students, but the facilities on their cards can prove to be beneficial for students also.

  • No applicable annual fee
  • You can choose 3 categories in which you’ll earn 2% cash back according to your typical spending habits. Feel free to request for changes at any time.
  • All other purchases earn you 0.5% cash back.
  • There are no limits on the cash you can earn back.

 

SPC® CashBack® Student Mastercard® from BMO

BMO offers students the SPC CashBack Mastercard. Here are the typical facilities it includes:

  • You pay 0% annual fee.
  • You can earn 1% cash back on all your purchases without any conditions, prerequisites, or categories.
  • You are entitled to a $60 welcome bonus in the form of cash back within a fixed time.
  • You get a $10 no-cost SPC membership.
  • You’ll receive an extra 10%-15% student discount by way of the SPC Student Loyalty program. This discount is applicable on purchases from stores like Aldo, Forever 21, The Source, Thai Express, Old Navy, Pizza Pizza, Petro Canada, Applebee’s, Gap, and many more.
  • The company holds contests from time to time where you can win books and tuition.
  • By charging your purchases on the SPC Mastercard, you automatically receive double the manufacturer’s warranty for up to 1 year. You also get purchase protection for 90 days on items bought using the card. These items are insured against damage or theft.

Moreover, student credit cards will not burden your financial responsibilities with high annual fees. They simply make it easy for you to purchase the things you need regularly, and learn how to wisely manage your money and spending habits.

One of the other great things about student credit cards is that they are available to any person enrolled at academic institutions. This means it won’t be hard to get your approval for a student credit card.

A student credit card will be there for you when you need to pay your bills, cover transportation costs, and even pay for rent. Student credit cards are a helpful payment method for students who want to focus more on learning and less on the money.

Why do I need a student credit card?

A student credit card’s main purpose is to help you build a credit history and cover the absolute necessary living costs, such as rent, transportation, pay utility bills etc. Student credit cards are not to be used for things you could easily go without, such as shopping sprees.

Student credit cards always come with a credit limit, usually between $500 and $1000, and you should ensure not to spend over the limit. It is important to pay your balance monthly and not just the minimum amount specified to avoid any high-interest charges.

Once you will get the hang of using your student credit card wisely, and get better at managing your finances, you can even decide to switch to a rewards credit card, which will earn you more benefits. However, a rewards card could tempt you to use the card for more expenses to earn higher rewards. This could work against you if you are not careful or have the necessary resources to always pay the full monthly balance.

Compare the best student credit cards in Canada
By doing research and comparing the benefits and requirements attached to each student credit card available you will be able to choose the best student credit card for you. Offerhub.ca is here to help you with this. Here is what you need to take into consideration:

Annual fees

Always choose a student credit card that has no annual fee. This way, you can easily save a decent amount of money each year.

Possible rewards or cashback

There are student credit cards that offer students more than just a regular credit card, but also reward points, or even cash back for every dollar spent. Check out the student credit card’s policy and see if you benefit from points or cash back when you spend your money.

The importance of rewards

Before you get excited about the rewards your student credit card offers, make sure they really matter for you. For example, if the rewards you receive can only be used to purchase luxury services, they will probably won’t do much good to a student such as yourself.

Credit Cards for Students – Conclusion

Canadian students have a wide range of credit cards to choose from that can help them build a good credit history while they’re still in college. However, at the time of choosing and using your credit card, keep these factors in mind:

  • Pick a card after assessing your possibility of getting approval.
  • Pick a card that offers you an attractive welcome bonus and other ongoing perks.
  • Organize your payments and schedule so you make payments on time each month. Make sure you pay off the minimum balance each month so that you’re never late. Alternatively, you can set up the pre-authorized automatic payments system that deducts the bill amount automatically each month from your bank account.
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