Credit Cards

Best student credit cards in Canada: the top 5 of 2022!

Are you looking for a student credit card to help you through college? If so, check out our post to find the best student credit cards in Canada!

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by Victória Lourenço

Published on 06/17/2022

Student credit cards in Canada: find the best cards for your student journey!

Find the best student credit cards in Canada! Source: Unsplash
Find the best student credit cards in Canada! Source: Unsplash

As a student, you know that managing your money is important. Between tuition, rent, and groceries, it can be tough to make ends meet sometimes. Also, a credit card can help you out in a pinch by giving you some extra spending power. So, we’ve compiled a list of the five best student credit cards in Canada for 2022!

bandeira do Canada com um céu azul ao fundo

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Student credit cards are an excellent way to start building your credit history. So, read on to find out more about each one of the best student credit cards and decide which one is right for you!

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Students can have benefits with this type of credit card!

If you are a new student who just started college, you might be looking for a credit card. Also, with a credit card, you can pay for groceries, gas, and other everyday regular purchases. Moreover, you can even get cashback whiles making your normal purchases.

However, if you go look for a regular credit card, you might find it difficult to get approved. This happens because regular credit card companies only allow those with high credit scores or at least a credit score. So, if you are a student, you probably don’t even have a credit score yet.

But, there is a way to solve this because there are many student credit cards that were created specifically to accept those with no credit score or low score. Plus, if you are a student, you can find this type of no credit score card with more benefits. So check out our selection of the best student credit cards in Canada!

5 student credit card options for you in Canada: choose the best!

See the best student credit card for you! Source: Unsplash
See the best student credit card for you! Source: Unsplash

There are many credit card options for students out there. But which is the best one for you? Well, we can help you find the best one for your situation. Also, you can find that even credit cards that are not specifically created for students can be great options! So, check out our list below of the best student credit cards in Canada!

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Scotiabank SCENE® Visa Card for Students

Credit ScoreThere is no official information about the score needed.
Annual FeeNo annual fee.
Regular APR*19.99% variable APR on purchases and 22.99% variable APR on cash advances.

*Terms apply.
Welcome bonus*As a new cardholder, you can earn 1,250 bonus Scene+™ points from your first purchase made with the card.

*Terms apply.
Rewards*You can earn 5 Scene+™ points for each dollar you spend at Cineplex theatres or on purchases made through the official website.

Earn 1 Scene+ point for each dollar you spend on regular everyday purchases.

*Terms apply.

This Scotiabank credit card can be one of the best ones considering cash back. Also, you can redeem your Scene+™ points for travel, entertainment, dining, and much more! Moreover, you can go to the official website and calculate how many rewards you can earn!

Also, there is a minimum credit limit of $500, which can be a very low requirement when compared to other credit cards. Plus, you can get all these benefits for no annual fee! So, check out our post below to know how to apply for the Scotiabank SCENE® Visa Card for Students!

Scotiabank SCENE® Visa Card for Students

How to apply for the SCENE® Visa Card for Students

Learn how to apply for a Scotiabank SCENE Visa for Students card and start earning points on every purchase you make.

CIBC Aeroplan® Visa Card for Students

Credit ScoreNot informed.
Annual FeeNo annual fee.
Regular APR*20.99% for purchases and 22.99% for cash (21.99% for Quebec).

*Terms apply.
Welcome bonus*$200 in value in your first year using the card.

10,000 Aeroplan points.

*Terms apply.
Rewards*1 point for every dollar you spend on gas.

1 point for every $1.50 you spend on any other purchase.

*Terms apply.

This CIBC credit card is also one of the best ones for students to pay for everyday purchases. Also, there are no minimum income requirements for you to qualify. Plus, you can earn 10,000 Aeroplan points as a new cardholder! And you can get all of this for no annual fee! However, there is a minimum credit limit of $1,000.

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Tangerine Money-Back Credit Card

Credit ScoreGood.
Annual FeeNo annual fee.
Regular APR19.95% variable APR.
Welcome bonus*Current welcome offer of 10% cash back on up to $1,000 for everyday purchases you make in your first 2 months.

*Terms apply.
Rewards*You can earn up to 2% cash back on eligible purchases.

*Terms apply.

With this Tangerine credit card, you can earn up to 2% cash back on eligible everyday purchases. Plus, you can get an amazing welcome bonus offer. Also, there are unlimited cash back rewards on your purchases. However, there is a $12,000 gross annual income requirement. So, check out our post below to know how to apply!

Tangerine Money-Back Credit Card

How to apply for the Tangerine Money-Back card?

You can get up to 2% cash back on your favorite stores in Canada, paying no annual fee for it. So, check out how to apply for the Tangerine Money-Back credit card!

KOHO Mastercard

Credit ScorePoor score or no score.
Annual Fee*You don’t have to pay an annual fee if you pick the prepaid Visa version and the joint version. But the premium version has an $84 annual fee.

*Terms apply
Regular APRN/A.
Welcome bonusN/A.
Rewards*Prepaid Visa and joint prepaid:
0.5% cash back on every purchase.
5% cash back on qualifying spending with PowerUps.

Premium:
Up to 2% cash back on groceries, restaurants, gas purchases, and others.
You can get 0.5% cash back on all other purchases.
And you can get extra cash back for eligible purchases.

*Terms apply

Even though the KOHO Mastercard is not a card created specifically for students, it can work great for them. Also, this credit card does not require any credit score to apply. This way, you can earn up to 5% cash back on eligible purchases with the PowerUps program. So, check out our post below to know how to apply for the KOHO Mastercard!

KOHO Mastercard

How to apply for the KOHO credit card?

If you need a credit card with cashback and a great platform to manage your finances? The KOHO card can be for you! So, read more to know how to apply!

BMO CashBack® Mastercard® card

Credit ScoreGood to excellent.
Annual FeeNo annual fee.
Regular APRFrom 19.99% to 22.99%
Welcome bonus*You can get up to 5% cash back in your first 3 months using the card.

*Terms apply.
Rewards*3% cash back on groceries.

1% cash back on bill payments, including streaming services.

0.5% cash back on any other purchase.

*Terms apply.

With this BMO credit card, if you are a more experienced student with credit cards, you can earn amazing cash back. Also, there is an incredible welcome bonus where you can earn up to 5% cash back on your first three months with the card. Therefore, read our post below to know how to apply for the BMO CashBack® Mastercard® card!

BMO CashBack® Mastercard® card

How to apply for the BMO Cash Back Mastercard card

Are you searching for a credit card that rewards you on purchases in your favorite grocery stores in Canada? Then, learn how to apply for BMO CashBack® Mastercard® card!

About the author

Victória Lourenço

Victória Lourenço is part of the finance writer team for The Mister Finance website. She is a translator and copywriter, having worked on finance topics for over four years. She has a goal to keep studying finances to help people learn more about how to use their credit cards, make loans, and use other money-related products in a way that they can find a more meaningful and healthy financial life!

Reviewed by

Aline Barbosa

Senior Editor

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