Getting a credit card while in school is an important step. For many young Canadians, this is their first experience with financing, thus helping to build their credit rating. But how do you choose the right one? Hardbacon provides a credit card comparison tool to help you choose from hundreds of options. We’ve also compiled this list of the best credit cards for Canadian students.

 

Best Student Cash Back and Rewards Cards

BMO Cash Back Mastercard

 

The BMO Cash Back Mastercard turns your purchases into cash. The rebate is 3% for grocery store purchases, 1% for monthly bill payments, and 0.5% on all other purchases. It comes with a welcome offer providing a 5% rebate during the first 3 months.

Points are redeemable for a deposit into your BMO chequing or savings account, a deposit into your BMO Investorline account or a credit on your monthly statement.

BMO’s website offers a rebate calculator to estimate the number of points you could earn with the card.

Its interest rate is 19.99% on purchases and 22.99% on cash advances.

Other benefits with this credit card include extended warranty and car rental discounts.

Apply now

 

Scotiabank L’earn Visa Card

 

The Scotiabank L’earn Visa card provides up to 1% cash back on purchases made with your card. It comes with an interest rate of 19.99% on purchases and 22.99% on cash advances. The minimum credit limit is $500.

If you use your card for around $200 in spending per week for a year, you will receive over $100 in cash back to your account.

The card also provides discounts on vehicle rentals with AVIS.

Apply now

 

Desjardins Student Cash Back Visa and Mastercard

 

Carte de crédit Remises pour étudiants Visa | DesjardinsThe Desjardins Student Cash Back Visa or Mastercard provides up to 2% cash back rewards on purchases in the following categories:

▪   Restaurants (Uber Eats, Ben & Florentine, La Belle Province, Restaurant ZIBO, etc.)

▪   Entertainment (Ticketmaster, Festival d’été de Québec, Piknic Electronik, Cirque du Soleil, Sépaq, etc.)

▪   Transportation (STM, Uber, Limocar, Lime Scooter, etc.)

▪   Pre-authorized payments

The discount is 0.5% for other expense categories.

Desjardins has an online calculator to estimate the amount of cash back rewards.

This card comes with an interest rate of 19.99% on purchases and 22.99% on cash advances.

Other benefits with this credit card include insurance to protect your mobile devices (cellphones and tablets) and travel insurance. You can also get an additional card free of charge for another member of your family.

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CIBC Dividend Visa Card for Students

 

Dividendes Visa pour étudiants | Banque CIBCThe Dividend Visa card for students offers 2% cash back on the first $6000 in grocery purchases in a single year. The discount changes to 1% after this amount. It is 0.5% on all other purchases.

The welcome offer is $25 cash back on your first purchase with the card.

A calculator is available on the CIBC website to estimate your cash back in your first year of use.

This credit card has a minimum limit of $1000. Its interest rate is 19.99% on purchases and 22.99% on cash advances.

It provides free membership to SPC, which saves you money with hundreds of merchants. It also includes $100,000 for accident insurance while using public transportation, as well as purchase protection and extended warranties.

Apply now

 

RBC Cash Back Mastercard

 

The RBC Cash Back Mastercard earns 2% cash back on your grocery purchases and 1% on eligible purchases and pre-authorized payments. You can also save on big brands with personalized offers.

The interest rate is 19.99% on purchases and 22.99% on cash advances.

This credit card provides access to fuel savings at Petro-Canada, in addition to offering 90-day protection against loss, theft or damage on certain purchases.

Apply now

 

Laurentian Bank Visa Black Reward Me

 

The Visa Black Reward Me card lets you to accumulate points redeemable for gift cards at more than 80 merchants, including gas stations, grocery stores and drug stores. You can also redeem them for Laurentian Bank gift cards applicable on investment products. Each dollar spent with your card earns you 1 point.

A reward calculator is available on the Laurentian Bank website.

Other benefits with this credit card include purchase insurance protection in the event of theft or accidental damage for 90 days following purchase of items paid with your card and an extended manufacturer’s warranty of up to one year.

The interest rate for purchases is 19.99% and 21.99% for cash advances. The $42 annual fee is charged as a $3.50 monthly fee which is reimbursed when you spend $350 on your monthly bill.

Apply now

 

Best cards for student in-store discounts

Scotiabank Scene Visa Card

 

The SCENE Visa card provides 1 SCENE point for every dollar spent on purchases with the credit card.

This is great news for moviegoers! You get 5 times more points for using it at CINEPLEX theatres or on cineplex.com.

At 1250 points, you get a free movie and 1000 points can be used as a $10 discount at several popular restaurant chains.

The current welcome offer gives you 1250 SCENE points (or a free movie!) upon your first purchase.

This card has an interest rate of 19.99% on purchases and 22.99% on cash advances. The minimum credit limit is $500.

Other benefits with this credit card include discounts for vehicle rentals with AVIS.

Apply now

 

RBC Rewards+ Visa

 

The RBC Rewards+ Visa card earns one RBC Rewards point for every dollar spent at gas stations, grocery stores and pharmacies. For everything else, it’s 1 point for every $2 in purchases.

You can get 3500 points if you go digital, by enrolling for electronic statements and using the RBC mobile app for money transfers.

The interest rate is 19.99% on purchases and 22.99% on cash advances.

Other benefits of this credit card include discounts on fuel at Petro-Canada, and up to 90 days of protection against loss, theft or damage on some of your purchases.

Apply now

 

Signature RBC Rewards Visa

 

The Signature RBC Rewards Visa earns 1 RBC Rewards point for every dollar of eligible purchases. You get bonus points when you shop at certain retailers.

You can choose your rewards from a wide range of options.

The interest rate on purchases is 19.99% and 22.99% on cash advances. It has an annual fee of $39.

This credit card also offers Petro-Canada fuel savings, travel accident insurance, rental car insurance and insurance on qualifying purchases.

Apply now

 

Best Student Card for Building Credit

Laurentian Bank Student Visa Black

 

The Laurentian Bank Student Visa Black gives you the opportunity to start building your credit now – a real advantage when the time comes to make important first purchases.

The interest rate is 19.99% on purchases and 21.99% on cash advances and there is no annual fee.

Apply now

 

Best student travel cards

BMO AIR MILES Mastercard for students

 

The BMO AIR MILES Mastercard for students gives you 1 mile for every $20 spent. The number of miles doubles when spending at partner retailers like IGA, Rona, and Staples.

The current welcome offer enables you to collect 5 times more miles at SHELL until December 31st.

You can redeem your AIRS MILES for hotel nights, flights, cruises or other travel related purchases. They are also redeemable for rewards, such as electronics and movie tickets.

An AIR MILES calculator is available on the BMO website.

The interest rate on purchases is 19.99% and 22.99% for cash advances.

It provides other benefits such as car rental discounts, reduced prices on Cirque du Soleil tickets and extended warranties.

Apply now

 

CIBC Aventura Visa Card for Students

 

Trouvez les meilleures cartes de crédit CIBC pour étudiants qui conviendront à vos besoins | Banque CIBCThe CIBC Aventura Visa Card for Students gives you points for all your purchases. You receive 1 point for every dollar spent at gas stations, grocery stores and pharmacies, as well as any travel purchased through the CIBC Rewards Centre.

The current welcome offer enables you to earn up to 5000 Aventura Points.

You can redeem these points for a flight worth up to $400 (10,000-20,000 points), a Petro-Canada gift card worth $25 (3500 points), a gift card for The Keg restaurant valued at $50 (7000 points) and more.

The CIBC website has a calculator to help you estimate the points you will accumulate with your credit card purchases.

This card comes with an interest rate on purchases of 19.99% and 22.99% on cash advances. The minimum credit limit is $ 1000.

Another neat tool on the CIBC website shows you the number of points you have left to accumulate for a flight, depending on your destination.

This credit card includes free membership to SPC, which saves you money through over 450 offers in-store and online. It also provides collision damage insurance for rental vehicles, $100,000 accident insurance while using public transportation, as well as purchase protection and extended warranties.

Apply now

 

CIBC Aero Platinum™ Visa Card for Students

 

Aéro Platine Visa pour étudiants | Banque CIBCThe CIBC Aero Platinum™ Visa Card for Students earns miles while shopping. You get 2 miles for every $3 spent with your card. If you buy from Aeroplan Partners (in-store or online), you earn double the miles.

The welcome offer is 5000 miles.

An Aeroplan Miles Calculator is available on the CIBC website. Enter your approximate total monthly purchases and it will give you an estimate of the Aeroplan Miles you will receive in your first year.

This card has an interest rate on purchases of 19.99% and 22.99% on cash advances. The minimum credit limit is $ 1000.

This credit card includes free registration to SPC, which saves you money through over 450 offers in-store and online. It also provides collision damage insurance for rental vehicles, $100,000 accident insurance while using public transportation, as well as purchase protection and extended warranties.

Apply now

 

WestJet RBC Mastercard

 

The WestJet RBC Mastercard gives you $50 WestJet dollars as a welcome bonus on your first purchase. You get 1% back in WestJet dollars for every qualifying purchase.

You can then use your credit card to purchase a WestJet ticket or any other airline vacation package.

This card has an interest rate on purchases of 19.99% and 22.99% on cash advances. The annual fee is $39.

Other benefits include fuel savings at Petro-Canada, travel accident insurance, protection for your hotel stays, insurance for rental cars and insurance for qualifying purchases.

Apply now

 

RBC Avion Visa Platinum

 

The RBC Avion Visa Platinum card earns 1 RBC Rewards point for every dollar spent. Upon enrolment, you’ll receive 15,000 bonus points, which equates to a free flight.

An Air Travel Rewards Redemption Schedule is available on the RBC website.

The choice of airline, departure date and choice of seat is yours.

This card has an interest rate on purchases of 19.99% and 22.99% on cash advances. There is an annual fee of $120.

Other benefits include Petro-Canada fuel discounts and insurance coverage.

Apply now

 

 

This top 15 of the best student credit cards in Canada was compiled by Hardbacon, which has designed a credit card comparator listing hundreds of Canadian credit cards. Hardbacon also helps you save on savings accounts, chequing accounts, online brokers, robo-advisors, life insurance, mortgages and personal loans. If you want to go one step further and take control of your finances, you should download Hardbacon’s mobile app, which links to your bank and investing accounts, helps you plan for your financial goals, create a budget and invest better.

How would you like to earn hundreds of dollars in rewards?

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