STUDENT CREDIT CARDS

Last Updated: March, 2020

Student credit cards help first-time borrowers build a positive credit history and practice managing credit.

Establishing a good credit score early in life can also help students secure a more affordable mortgage or car loan down the line.

When searching for a student credit card, pay special attention to interest rates and fees. Since students typically have less disposable income, they need to be able to afford their credit cards.

CREDIT CARD

REWARDS PROGRAM

BONUS

PERKS

BMO Cash Back Mastercard

Cashback

5% cashback in your first three months up to $100

$60 welcome bonus

No annual fee

Purchase Insurance

Balance Transfer Promos

Scotiabank Scene Visa Card

Scene Rewards

2500 Scene Points

5 points for $1 spent at Cineplex

Tangerine Moneyback Credit Card

Cashback

$250 bonus if you spend $5000 in net purchases in the first three months

Balance Transfer Promos

Customized Cashback

BMO No-Fee AIR MILES for Students Mastercard

Air Miles

800 Air Miles

Car Rental Deals

Balance Transfer Promos

CIBC Dividend Visa Card for Students

Cashback

5% cashback on the first four statements up to $2000 in purchases.

2% cash back on groceries

A full suite of insurance

BMO CASH BACK MASTERCARD

When it comes to cashback credit cards for students, it is hard to beat the BMO Cash Back Mastercard. This card is a zero fee, no nonsense Mastercard with some great sign-up bonuses.

For a limited time, BMO is offering a $60 sign-up bonus and 5% cash back for the first three months up to $100. As well, after the welcome bonus ends, you will enjoy 1% cashback on all purchases.

Finally, the card also offers a great balance transfer promo rate of 1.99% for nine months. The BMO Cash Back Mastercard is an excellent option for any student. Plus, the fact you can pay for your tuition and get 1% cashback seems like a no-brainer.

SCOTIABANK SCENE VISA CARD

The Scotiabank Scene Visa Card has long deserved a spot on this list and is one of the gold standards in this niche. The card itself provides its client with a no-fee option with some great perks.

The card rewards partner is Scene Rewards, which provides movie and restaurant perks. As a welcome bonus, this card comes with 2500 Scene Reward Points, enough for two free movies. As well, the card offers 1 point per dollar on purchases and 5 points per dollar on Cineplex purchases.

Finally, the card does need at least $250 of income per month, or you will need a co-signer before opening the account. If you are a movie lover, then the Scotiabank Scene Visa Card is a fantastic option. As a student card, it is a solid choice, and worth a look at, even if you are not a cinephile.

TANGERINE MONEY BACK CREDIT CARD

If you are a student with a part-time job, then the Tangerine Money-Back Credit Card is worth a look. This card competes with some of the top cashback cards in the country, and yet is entirely free!

Also, the card allows you to choose what two categories you want for your 2% cashback. So, if you do not have a car, you will not lose out on gas rewards, for instance. As well, any categories you do not choose will have the base 1% cashback.

Finally, Tangerine is offering a balance transfer promo at only 1.95% interest for six months. From savers to spenders, the Tangerine Money-Back Credit Card is a good option for any student.

BMO NO-FEE AIR MILES FOR STUDENTS MASTERCARD

If you are a student who loves to travel or needs to fly home at the end of the semester, then we have the card for you. The BMO No-Fee Air Miles for Students Mastercard is a no-fee card that benefits those who love to fly!

The card comes with an 800 Air Mile bonus upon sign-up. As well, with 1 Air Mile per $20 spent, and an extra mile per $20 spent at select stores, this card has a great return rate.

Finally, the card also comes with some great perks, such as 25% off car rentals and other extra insurance.

If you are collecting Air Miles, or have a love of travel, then this card is fantastic. With no-fee and a great sign-up bonus, the BMO No-Fee Air Miles for Students Card is an excellent option for any student.

CIBC DIVIDEND VISA CARD FOR STUDENTS

The CIBC Dividend Visa Card for Students continues to be one of the underutilized cards in the niche. The card comes with no fees and is one of the best cashback regimes in this niche.
The card comes with a 5% cashback bonus for the first four statements and 2% on groceries after that.

As well, the standard rate for cash back on purchases is 0.5%, but that improves to 1% after the first $6000 in transactions.

Finally, the card also comes with a suite of perks, including a free SPC rewards card and extra insurance. The CIBC Dividend Visa Card is worth a look for any student looking for a new student credit card!

THE BOTTOM LINE

Finding the right student credit card is about finding the right fit for your needs. Whether that be travel, cash back or rewards, the right card is out there.

No matter your needs, we have the card on this list to fit your student lifestyle. The only thing left for you is choosing what credit card you want mailed to you!

Best overall student credit card: BMO Cash Back Mastercard
Best student credit card for travel: BMO No-Fee AIR MILES for Students Mastercard
Best student credit card for cashback: BMO Cash Back Mastercard
Best student credit card for perks: Scotiabank Scene Visa Card
Best student credit card for insurance: CIBC Dividend Visa Card for Students

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