When you’re at a new restaurant, do you have to see the menu before you order? Or do you eat what your foodie friend says is good, knowing it’ll be amazing? The answer can help you decide how to pick a new credit card. Some people want the ability to compare their options side-by-side; others want just a few recommendations (from people who know what they’re talking about). This page offers both. Use the tool below to compare popular student credit cards, or keep scrolling for our editors’ top picks. Whichever you choose, we promise the end result will be delicious.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.
MoneySense editor picks
There’s an abundance of credit cards in Canada. But the options are a little more limited for students, who don’t necessarily have a credit score or an annual income (both of which are common eligibility criteria). That’s not a bad thing—in fact, it makes your life easier! Once you know what you want most out of a credit card, the choice becomes pretty clear. Let us show you…
| Best credit card by category | Who is it best for? |
|---|---|
| Best cash back credit card for students BMO CashBack Mastercard Annual fee: $0 |
You spend the most on groceries. And you prefer money back over travel points. |
| Best travel credit card for students CIBC Aeroplan Visa Card for Students Annual fee: $0 |
You have your mind on a travel destination, and need a cheap flight to get you there. |
| Best low-interest credit card Flexi Visa Annual fee: $0 |
You don’t expect to pay off your credit card balance every time. |
| Best secured credit card Home Trust Secured Visa Annual fee: $0 |
Your main goal is to build a credit history. |
| Best store credit card for students PC Financial Mastercard Annual fee: $0 |
You spend a lot of money on groceries, and it’s almost always at a store owned by Loblaw. |
| Best student credit card for entertainment Scotiabank Scene+ Visa Card for students Annual fee: $0 |
You love the big screen. |
Should you get your own credit card?
Having your own credit card and being an authorized user—also known as a supplementary cardholder—on a parent or partner’s account are two different things. As an authorized user, you’re able to access the credit of the primary cardholder to make purchases, often through a credit card with your own name on it. However, those transactions do not help you establish a credit history or credit score—you’re using someone else’s credit, after all! In order to build a good credit score, you’ll need your own credit card account and to pay off the balance on time.
—MoneySense editors
Best cash back credit card for students
At a glance: The BMO CashBack Mastercard is a top choice for students looking for easy cash back earnings. Combining no annual fee with an impressive 3% cash back rate on grocery purchases, this card offers students a chance to earn cash rewards in a high-spend category.
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BMO CashBack Mastercard
Annual fee: $0
Welcome offer: earn 5% cash back in your first 3 months Conditions apply.
Card details
| Interest rates | 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers |
| Income required | None specified |
| Credit score | None specified |
Best travel credit card for students
At a glance: The CIBC Aeroplan Visa Card is tailored to the needs of students, especially those who can take advantage of travel rewards. This student-friendly card has no annual fee, and it provides a free SPC+ membership that lets you enjoy savings of up to 30% across 450-plus brands.
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CIBC Aeroplan Visa Card for Students
Annual fee: $0
Welcome offer: earn 10,000 Aeroplan points when you make your first purchase ($200 value)
Card details
| Interest rates | 20.99% on purchases and 22.99% on cash advances (21.99% in Quebec) |
| Income required | None specified |
| Credit score | None specified |
| Point value | Aeroplan points are worth $0.02 on average. |
Best low-interest credit card
At a glance: While you won’t earn rewards with this card, the Flexi Visa from Desjardins credit union stands out as a low-interest, no-fee credit card for students looking to minimize credit card debt. It also features benefits like limited travel insurance, rental car discounts, a monthly installment payment plan and mobile device insurance.
Flexi Visa
Annual fee: $0
Low interest rates: 10.90% on purchases and 12.90% on cash advances
Card details
| Interest rates | 10.90% on purchases and 12.90% on cash advances |
| Income required | Not specified |
| Credit score | Not specified |
Best secured credit card
At a glance: The Home Trust Secured Visa is an effective tool for Canadians aiming to establish or rebuild their credit history. You set your own spending limit, which can range from $500 to $10,000. If you do occasionally have trouble paying off your balance, you can take advantage of selecting between two interest rates: 19.99% with no annual fee or 14.90% with a $59 annual fee. We like that this card lets you choose, but we recommend the low-rate option.
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Home Trust Secured Visa
Annual fee: $0
Rewards: None (designed for people looking to rebuild credit)
Welcome offer: None
Card details
| Interest rates | 19.99% on purchases and 19.99% on cash advances |
| Income required | None specified |
| Credit score | 300 or higher |
Pros
- This card gives you the option to choose a higher or lower interest rate. With no annual fee, the purchase APR is 19.99%. With a $59 annual fee, you’ll get a lower purchase APR of 14.90%.
- When you use your card, Home Trust will report payments to both of Canada’s credit bureaus, TransUnion and Equifax, which helps you build your credit rating. In contrast, the Neo Secured Card, for example, only reports to TransUnion, which means that your credit history might not show up properly for lenders that only rely on Equifax scores.
- Compatible with digital wallets like Apple Pay, Google Pay and Samsung Pay.
Cons
- Unlike with the Neo Secured Card, you won’t earn rewards on your spending. However, this is typical for secured cards, which prioritize low interest.
- The minimum deposit for the Home Trust is $500, whereas some cards require only $50. However, this is a negligible drawback, as most cardholders will likely need access to at least a few hundred dollars on their card.
- This card is not available to residents of Quebec.
Best store credit card for students
At a glance: Drugstores and grocery stores are where many students tend to spend the most. That makes the PC Financial Mastercard a strong pick for those who shop frequently at participating stores. With earn rates ranging from 10 to 30 points per $1, depending on the store, you can accumulate rewards quickly.
PC Financial Mastercard
Card details
| Interest rates | 21.99% on purchases, 22.97% on cash advances and 22.97% on balance transfers |
| Income required | None specified |
| Credit score | 560 or higher |
| Point value | 1 PC Optimum point is worth $0.001 (redeem 10,000 points for $10). |
Best student credit card for entertainment
At a glance: If you go to movie theatres to get away from dorm drama or to take a break from studying, consider this card. What you spend at the cinema can turn into some nice perks.
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Scotiabank Scene+ Visa for students
Annual fee: $0
Welcome offer: earn up to 5,000 bonus Scene+ points within your first 3 months. To qualify, apply by October 31, 2024.
Card details
| Interest rates | 20.99% on purchases, 22.99% on cash advances and 22.99% on balance transfers |
| Income required | Personal income of $12,000 |
| Credit score | 660 or higher |
| Point value | 1 Scene+ point = $0.01 when redeemed for travel, store purchases and food and drink at Cineplex and Scene partners. |
Pros
- Scene+ is a pretty versatile points program. For example, you can book flights with any airline without having to rely on a specific travel agency or portal. Plus, you can redeem for other travel items, such as Airbnbs. It’s one of the best points programs available to Canadians.
- The rewards are great for things outside of a typical student budget. Treat yourself for managing the stresses of school by using the rewards on things like movies, takeout, retailer gift cards, flights, hotels and more.
- You can save 25% off base rates for car rentals at participating Avis and Budget rental locations in Canada and the U.S.
Cons
- There are no bonus points for other common spending categories, like gas or dining, meaning fewer ways to maximize your returns. So, you would have to go to the movies regularly to really take advantage of the bonus earn rate.
- Not as flexible as a cash back program, but redeeming is straightforward for travel items.
How we determine the best student credit cards
Our editors apply their credit card expertise and knowledge of Canadians’ financial goals to come up with selection criteria that matches the needs of the intended cardholder. For students, the best cards should generally have no annual fee, and low income and credit score requirements—because building a credit history is a common goal for people who use these cards. Beyond that, we consider the return on spending (for rewards cards), the purchase APR (for low-interest cards) and other factors, based on the category. The addition of links from affiliate partners has no bearing on the results. Read more about our selection process and how MoneySense makes money.
Frequently asked questions
Unlike applying for a summer job, applying for a student credit card is pretty straightforward, although there are a few eligibility requirements to keep in mind.
- You’ll need to be the age of majority in your province. That’s either 18 (in Alberta, Manitoba, Ontario, Prince Edward Island, Quebec and Saskatchewan) or 19 (in British Columbia, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut and Yukon).
- If you don’t earn an income, you may need to provide proof that you receive some form of financial support, such as allowances from your family or a scholarship.
As a new credit card holder, it’s a smart idea to review your options before you apply. Check out what different banks are offering and choose a card that best matches your lifestyle and spending habits. Each application does affect your credit score, so you’ll want to avoid applying for multiple credit cards needlessly. Stick with one card as you learn the ropes and start building your credit history.
Yes, they can. Banks, credit card companies and financial institutions recognize the power of your business, so they’ve created “beginner” credit cards for young adults and students in Canada. These tend to be stripped-down versions of credit cards loaded with perks. But, as you can see above, there are still rewards to be had with secured and unsecured credit cards for students. Actually, having a credit card is how you build a credit history, which is part of how a credit score is calculated. Here’s how:
- Credit history: A longer history shows lenders you are able to repay debt, and finance experts recommend to apply for a card as a young adult, and use it responsibly.
- Debt load: This is the total amount of money you owe creditors—including credit cards, loans and mortgages. But mortgages are not often an issue for students, so your low debt load can work in your favour.
- Payment history: This is about how you well you pay your bills, meaning in full and on time, as well as if you’ve missed any payments and for how long you’ve carried any debt. At this point in your life, keep your bills low and pay them off on time.
- Types of credit you carry: The more creditors you owe money to, the higher risk you could pose to lenders. Stick with one credit card to avoid looking risky to lenders.
Can a high school student apply for a credit card?
Credit cards have an age restriction and, often, income requirements that high school students may not be able to meet. However, that doesn’t put all credit cards entirely out of reach. If a high school student is the age of majority (18 or 19 years old, depending on their province or territory), there are some options.
Credit card applicants in high school should look for cards that don’t require a credit history and have a low or no income requirement. They can consider starting with a secured card, where they apply a deposit that they can spend, as these help build a credit history. A solid option is a secured credit card.
What does a high school student need to apply for a credit card?
In general, applicants will need a piece of government ID, a social insurance number, a mailing address, an employment status, and income information to apply for a credit card.
I was declined for a student credit card—what can I do?
If you were declined for a card, it may have to do with your credit history or your income. Consider a secured card or a credit card that’s aimed at people with bad credit, as their requirements will be more modest. While you won’t get the perks and benefits attached to other cards, responsible use can help you build up your credit score so you can access better products in the future.
Credit card tips for students
You know you need to be responsible in how you use your credit card—but what, exactly, does that mean? Read on for tips on using your credit card to improve your credit score and avoid any problems.
- Check your payment due dates
You probably know that credit card bills arrive every month, but that doesn’t mean the due date for your payment is on the first day. The date that begins your billing cycle depends on when you are approved for the account, and it could be any day of the month. Make note of the due date and make sure you pay on time. Consider adding these dates to your school calendar, too. - Pay off your balance in full
If you’re going to be responsible with your credit card, you won’t use it to spend money you don’t have. Do not go into debt. It’s best practice to pay off your bill in full, on time, every month. Not only will this boost your credit score, but it will also help you avoid costly interest charges. - Heed the minimum balance
If you do overspend, you will still need to pay off some of your balance. Your bill will show a total balance and a minimum payment. You must pay at least the minimum payment, on time and every month, no matter what. Missing payments is one of the worst things you can do for your credit score. Paying only the minimum means that you’re accumulating interest on the unpaid balance. At an average of around 20%, this can add up quickly. - Don’t overspend
In case it’s not clear: Don’t overspend! Credit is borrowed money, and a credit card isn’t a debit card. All the money you charge to your card must be paid back. If you don’t or can’t, you’ll find yourself racking up interest charges in addition to wrecking your credit rating. - Don’t max out your credit card
Your credit card will have a credit limit; that’s the amount of money you can technically borrow on it. But spending all the way up to your limit—that is, maxing out your card—is reckless. It will be harder to pay off your balance. Use your card selectively for smaller purchases, at least initially, and consider using debit for almost everything else.
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