Student Credit Cards in Canada: How to Pick Your First Card
A student credit card is usually the easiest way to get your first card in Canada. Most have no annual fee and no minimum income, and using one well builds the credit history you'll need later for a car loan, an apartment or a mortgage.
Student credit cards in Canada
| Card | Annual fee | Top earn rate |
|---|---|---|
| CIBC Adapta Mastercard for Students | $0 | 1.5x in Your Top 3 Categories |
| CIBC Aeroplan Visa Card for Students | $0 | 1x on Groceries, Gas & Air Canada |
| CIBC Aventura Visa Card for Students | $0 | 1x on Groceries & Gas |
| CIBC Classic Visa Card for Students | $0 | No rewards |
| CIBC Dividend Visa Card for Students | $0 | 2% on Groceries |
| Scotia Momentum No-Fee Visa Card (for students) | $0 | 1% on Everyday Categories |
| Scotiabank American Express Card (for students) | $0 | 3x at Sobeys-family grocers |
| Scotiabank Scene+ Visa Card (for students) | $0 | 2x at Sobeys-family grocers |
Show all 11
| Card | Annual fee | Top earn rate |
|---|---|---|
| Student BMO CashBack Mastercard | $0 | 3% on Groceries |
| Scotiabank Value Visa Card (for students) | $29.00 | No rewards |
| Scotia Momentum Visa Card (for students) | $49.00 | 2% on Everyday Categories |
11 of the 139 cards CardTruth tracks. Built from each card's teardown, so it updates when a card changes.
Student cards are versions of each bank's regular cards, with the income requirement removed and usually a lower credit limit. The CIBC Dividend Visa for Students, for example, is the student version of CIBC's no-fee cash-back card. Each teardown covers the card's earn rates, fees and fine print.
How to choose your first card
- Stick to no annual fee. Your spending is likely low, and a fee would cancel out most of the rewards.
- Match the earn rate to what you buy. Groceries, transit, streaming or food delivery: pick a card that pays more where you spend most.
- Check the foreign transaction fee if you'll study abroad or shop in U.S. dollars. See cards with no foreign transaction fee.
- Bank where you already bank. Approval can be easier, and payments from your chequing account are instant.
International students
International students can usually apply for student cards too, sometimes with a lower credit limit and extra documents such as a study permit. Each card's teardown notes any differences the issuer states.
Build credit from day one
Your first card starts your credit file, so a few habits make a big difference:
- Pay the full balance every month. You'll never pay interest, thanks to the grace period on purchases.
- Never miss a payment. Set up an automatic minimum payment as a safety net. Here's what happens if you miss a payment.
- Keep your balance low. Using a small share of your limit, often suggested as under 30%, helps your score.
- Keep your first card open. The age of your oldest account counts, and a no-fee card costs nothing to keep.
After graduation
Once you have income and a credit history, you can move to a card with richer rewards. Many banks let you switch products without a new application. Use Card Match to see which cards fit your spending when the time comes.