The Best Credit Cards for Students in Canada

Credit Cards May 23, 2020

What is the best student credit card in Canada?

As a student, getting a credit card is a great idea as it'll allow you to start building a credit history (and therefore credit score). But getting a credit card without history is difficult, which is why banks have started creating credit cards specifically to get students started. Choosing a great student card that rewards you can allow you to stretch your finances further by saving you money.

Best Overall Card for Students

Best Cashback Card for Students

Best Aeroplan Card for Students

Best Overall Card for Students

Our top pick for the best student credit card in Canada is the Scotiabank SCENE Visa Card. This is a no annual fee credit card available to students that provides at least a 1 SCENE point for every dollar spent. We value this at slightly above a 1% return rate, as SCENE points can be used at several restaurants at a rate of 1 cent per point, and when used on movie tickets at Cineplex they are worth slightly more than 1 cent per point.

Sign-up Bonus Earn 1,250 SCENE points upon first purchase
Rewards - Earn 5 SCENE points for every $1 you spend on credit card purchases at Cineplex
- Earn 1 SCENE point for every $1 you spend on everything else
Insurance - Scotia Credit Card Protection (optional)
Other Perks - Discounts on AVIS and Budget Rental Cars

Your Credit Score matters, even as a student.

Check out our guide on How to Get Your Credit Score for Free!

Best Cashback Card for Students

Although SCENE points can be used as a cash equivalent at several restaurants, some students may just want direct cashback. For them we recommend the BMO CashBack Mastercard. This no annual fee card provides 3% cashback on groceries, 1% cashback on recurring bill payments, and 0.5% on everything else. There's a reason it is one of our top picks for the best no-fee credit card in Canada.

Sign-up Bonus - Get 5% cashback in your first 3 months of card ownership (up to $100 cashback)
Rewards - Earn 3% cashback on all grocery purchases
- Earn 1% cashback on recurring bill payments
- Earn 0.5% cashback on all other purchases
Insurance - Purchase Assurance and Extended Warranty Benefits
Other Perks - Discounts at National Car Rental and Alamo Rent A Car
- Discounts on admission to Cirque du Soleil shows

Looking to begin investing but feeling overwhelmed, especially as a student?
Check out Our Guide to Investing.

Best Aeroplan Card for Students

If you are a loyal Air Canada and Star Alliance flyer, you may be looking for a way to accumulate Aeroplan Miles. Luckily, the CIBC Aero Platinum Visa Card for Students is an Aeroplan-branded card made available for students. It features an earn rate of 1 Aeroplan Mile for every $1.50 in purchases made on the card, and even comes with a welcome bonus of 5,000 Aeroplan Miles. All of this can be had for an annual fee of $39.

Sign-up Bonus 5,000 Aeroplan Miles welcome bonus
This sign-up bonus is worth a $100 value
Rewards - 1 Mile for every $1.50 spent on everything
Insurance Coverage See all insurance benefits
Other Perks - Free SPC Membership

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