My Rate Compass

Best Student Credit Cards in Canada for 2020

 
Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: 19.95%
Cash Advance Interest Rate: 19.95%
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?
  • No annual fee
  • Unlimited rewards
  • Automatic monthly cash back redemption
  • Flexibility
  • Get more rewards
Why we like it

Regarded as one of the best credit card in Canada, Tangerine provides no annual fee, a lucrative 2% cash back in up to 3 merchant categories, and 0.5% on all other purchases with no caps, tiers or limits. It provides choice, value and convenience to beginner credit card users and even works great as a secondary credit card.

  • Welcome bonus: Earn a $250 Bonus with a Tangerine Money-Back Credit Card.*
  • No annual fee -The no annual fee for both primary and secondary holders means that you are not paying for your cash back.
  • Unlimited rewards -Earn as much cash back rewards regardless of the category.
  • Automatic monthly cash back redemption -Every month, Tangerine will either apply your cashback dollars against your credit card balance or deposit it directly into your Tangerine Savings Account.
  • Flexibility - You can choose 2-3 categories for the 2% cash back and change categories once every 90 days to match your spending pattern.
  • Get more rewards -Maximize your credit card rewards by choosing another cash back credit card that has bonus categories and using your Tangerine card to expand and get more bonus categories.
Credit Card snapshot
Tangerine Money-Back Credit Card Review

Earn 2% Money-Back Rewards on purchases in up tp 3 categories of your choice, and 0.50% Money-Back Rewards on all other purchases.

  • 2% Rewards in your chosen categories
  • Get 0.50% money back on all other everyday purchases.

  • Money-Back Rewards are earned automatically and paid monthly, and can either be applied towards your Credit Card balance or redeemed into your Savings Account.

  • No limit on the amount of Money-Back Rewards you can earn.

  • Change your 2% Money-Back Categories to suit your everyday spending.

    • Optimizing your 2% Money-Back Categories to suit your everyday spending has never been easier. Choose your categories to earn the most money back.

    • During your first 6 months, transfer balances from your other high interest rate credit cards, and pay only 1.95% interest on the transferred balance for the first 6 months.

      Fees:

      • Annual: $0
      • Balance transfer: 3% with $5 minimum
      • Cash advance: $3.50 inside Canada, $5 outside Canada, plus 19.95% interest on overdue amounts
      • Foreign transaction: 2.5% per transaction
      • Missed or late payments: increased interest rates to 24.95% on all purchases
      • Over limit: $25 (Tangerine does not allow you to go over your limit unless the transaction was pre-approved)

       

Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?
  • No annual fee
  • Discounts on your favorite stores for more savings
  • Substantial welcome bonus
  • Chance to win a year of free tuition and books
  • No limits on cash back
  • Access to BMO Deals
Why we like it

The BMO SPC CashBack MasterCard delivers the best of both worlds – it’s a money-saving student price card (SPC) and money-earning cash back credit card in one. It’s the best student credit card you can get your hands into with its significant rewards, generous discount, and no limits on which purchases earn cash back.

  • No annual fee – It offers the same discount as an SPC without the usual annual fee.
  • Discounts on your favorite stores for more savings – Get 10 – 20% discount on top brands such as Forever 21, Gap, Pizza Hut, Apple and more.
  • Substantial welcome bonus – Earn up to $100 cash back rewards on the first three months when you take advantage of the limited-time 5% cash back.
  • Chance to win a year of free tuition and books – This could take a lot of financial and emotional burden of your shoulders.
  • No limits on cash back – It gives 1% cash back on all purchases and gives extended warranty and protection.
  • Access to BMO Deals – Get extra privileges, access to fun events and additional discounts on items in the Extra Deals catalogue.
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Get up to 5 percent cash back in your first 3 months.

Get 1 percent cash back on all credit card purchases

Spend $500 monthly on card purchases

Earn $60 cash back annually

Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?

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  • Free movies
  • No annual fee
  • Generous rewards
  • Redeem as soon as you can
  • Points don?t expire
Why we like it

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Great for students and individuals who love going to the movies, the SCENE Visa Card gives generous points for movie ticket purchases at Cineplex Theatres and rewards you for everyday purchases on top of it. In addition, this card has no annual fee for both primary and supplementary cardholders. Try it, completely risk free, for no other reason than getting free movies.

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Why We Like It:

  • Free movies ? For starters, the generous sign-up bonus gives you around 2 to 5 free movies simply by checking out this credit card.
  • No annual fee ? The zero-yearly fee means that you are free to test if this credit card is for you.
  • Generous rewards ? Earn an impressive 5 points for every dollar spent at Cineplex Odeon Theatres (i.e. Famous Players, SilverCity, Scotiabank Theatres, Cinema City, Galaxy, etc.) and 1 point everywhere else.
  • Redeem as soon as you can ? Redeem for music, movies and other rewards for as low as 1,000 points.
  • Points don?t expire ? You earn and get to keep your points for as long your account remains active.
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SCENE?* Visa* Card review

Earn 2,500 bonus points with your first $500 in everyday purchases in first 3 months

Earn 1 SCENE point for every $1 you spend on your everyday credit card purchases

Get SCENE points faster

Earn 1 SCENE point for every $1 you spend on your everyday credit card purchases

Earn 5 SCENE points for every $1 you spend on credit card purchases at Cineplex theatres or at cineplex.com

Get FREE movies

Redeem for a FREE movie with just 1,000 points.

Save at participating restaurants

Get $10 off at participating restaurants when you redeem just 1,000 points

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Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?

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  • No annual fee
  • Increased cash back rewards with each spend
  • Faster payment
  • Car rental savings
Why we like it

Students who are serious in building their credit history may find the L?earn Visa Card to their liking. It has no annual fee, gives 1% cash back and has easy-approval requirements. While this student credit card has no bells and whistles in terms of rewards, the straightforward cash back structure offers enough rebates for you to save cash when you shop and delivers the advantages of a credit card minus the high-income requirement.

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Why We Like It:

  • No annual fee ? Get started in building your credit history at no cost.
  • Increased cash back rewards with each spend ? The tiered cash back structure lets you earn more rebates with more spending. Cash is automatically applied to your next upcoming bill and there is no limit to the amount of cash back you earn.
  • Faster payment ? Perfect for on-the-go shopping, this credit card delivers Visa payWave convenience. Simply wave your card or use the app on the counter to pay for your purchase. This credit card is also compatible with Apple Pay, Android Pay, and My Mobile Wallet.
  • Car rental savings ? Similar to the Scotia Value Visa, this credit card gives 20% discount on Avis rental cars.
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Accelerated Moneyback Reward Program

Students can now get a VISA card that was designed with students in mind. The L'earn VISA card offers a Moneyback reward program and a host of other great benefits.

  • Get up to a 1% Moneyback reward
  • $0 annual fee
  • Spend wisely, earn valuable rewards
  • Build a good credit rating