12 Best Student Credit Cards in Canada for March 2025
Finding a student credit card with the right combination of features for your lifestyle can be daunting, especially if it’s your first time choosing a card. But spending a few minutes with the information below — consider it a mini cram session — should have you ready to compare the best student credit cards and confident that you can make a decision about which one is right for your needs.
Compare the best student credit cards in Canada
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BACK TO TOPNerdWallet Canada selects the best credit cards based on unique attributes, overall consumer value and suitability for specific kinds of consumers. Factors in our evaluation methodologies may include annual fees, rewards rates, interest rates and other noteworthy features specific to the card type. To learn more about how we evaluate and select financial products, you can review our credit card methodology.
Beginner’s guide to student credit cards in Canada
How do student credit cards work?
Student credit cards function similarly to regular credit cards: you make purchases and repay them by your statement due date. However, they are generally easier to qualify for and can help build your credit history.
Some financial institutions offer student-branded cards, but many general entry-level cards are also student-friendly. In other words, even if a card isn’t called a student credit card, you may still have a chance at approval.
If you have no credit history, or one with many negative marks, check eligibility requirements carefully — secured credit cards or prepaid options might be a better fit.
Student credit cards vs. regular credit cards
The key difference lies in qualification requirements.
Regular credit cards require a good credit score and stable income.
Student credit cards have relaxed or, in some cases, non-existent, income and credit score requirements.
Despite the name, most student credit cards are available to a wider range of applicants beyond post-secondary students.
Types of student credit cards
Each student credit card type offers unique benefits. Click below to explore your options.
- Cash-back student credit cards
A particularly attractive option for students who might want a “discount” on their credit card bill every now and then, cash-back credit cards reward your spending with points that can be redeemed for cash. These cash rewards are most often provided in the form of a statement credit, but in some cases, can also be transferred to a savings account.
- Low-interest student credit cards
Most credit cards in Canada carry a purchase interest rate around 20%, and student credit cards are no exception. Credit card interest rates on balance transfers or cash advances may be even higher. However, low-interest credit cards offer low rates as a way to attract cardholders who may not be as experienced with revolving credit products.
- No-fee student credit cards
Many Canadian credit cards charge an annual fee that must be paid regardless of how much you spend or how often you use the card — it’s like a membership fee just for having the card. Students who are working with a tight budget will be pleased to learn that there are exceptions to this rule, however.
No-fee credit cards waive the annual fee, allowing students to reap all the benefits of having a credit card — including bonuses and rewards — without an extra charge piled on top.
- Student travel credit cards
Among the best options for students are travel credit cards, which allow cardholders to earn travel rewards — points or miles that can be redeemed for discounted fares, merchandise, gift cards, and other perks.
- Student reward credit cards
Armed with a rewards credit card, students in Canada can earn valuable points by using their card to pay for everyday expenses, like gas, groceries and even furniture. Some student rewards credit cards even come with perks like purchase assurance or extended protection insurance on eligible purchases.
Pros and cons: Is a student credit card a good idea?
Even if you already have a joint credit card with your parents, getting a student credit card can still be beneficial. When used responsibly, credit cards can help manage expenses and build credit.
When a student credit card may be worth it:
To build credit as a student. Using your card and paying on time improves your credit score, making it easier to qualify for loans in the future.
To earn rewards. Some student credit cards offer cash back, travel points, or other valuable rewards that can make life a little less expensive.
To track spending. Many credit cards include budgeting tools that help monitor expenses — an important money management skill.
To gain financial flexibility. Dealing with an unexpected expense when you don’t have much cash can be extremely stressful, but a student credit card can help fill in those gaps for emergencies so you can still afford necessary expenses.
When a student credit card might not be worth it:
If it has higher-than-usual interest rates. Most credit cards charge around 19.99% interest if you don’t pay the full balance each month. It’s not hard to see how this can cause your debt to expand quickly if you don’t stay on top of payments.
If the spending limit is too low for your needs. Student cards typically have lower credit limits, which can prevent you from racking up a big credit card bill you can’t pay, but it can also leave you in the lurch if a major purchase becomes necessary and you’re already up against your maximum spending amount.
If you’ll end up in credit card debt. A maxed-out credit card can take years to pay off if you’re only making minimum payments, and can damage your credit score in the process. Thinking more long-term, if a situation arises where you need to take out a loan, lenders aren’t likely to give you the best interest rates or friendliest terms if you have a lot of credit card debt in comparison to your income.
When to consider other options
If you’re not ready for a student credit card or don’t qualify, consider these alternatives:
Secured credit cards
A secured credit card works like a regular credit card, but requires a refundable security deposit as collateral. Your security deposit typically acts as your credit limit.
For example, if you deposited $500 onto your secured credit card, you’d have a $500 spending limit. You can’t use that deposit to pay your credit card bill, but you’d get it back if you ever closed your account in good standing.
The best secured credit cards allow you to build credit history. Once you have a good credit score, you can try applying for a student credit card.
Which makes sense for you? Secured vs. Unsecured Credit Cards: How to Choose
Prepaid cards
A prepaid card is also worth considering as they provide the flexibility of cashless payment, but because you’re not borrowing money, there’s no interest or credit card debt to worry about.
Some prepaid cards, like the Wealthsimple Card, even earn interest. Many also claim to report to the credit bureaus so that you might be able to qualify for a student credit card in the future.
How to get a student credit card
Getting a student credit card involves four simple steps:
1. Compare your options
Review different student credit cards carefully — read pros and cons, understand product details, and check consumer reviews — to find one that best suits your needs.
2. Check eligibility requirements
Common criteria includes:
Age: 18+ (or legal age of majority in your province).
Credit core: Not always required, but some cards may require a score of 660+.
Income: Some issuers require proof of income (e.g., student loans, grants, scholarships, or part-time work).
Residency: Must be a Canadian resident or an international student with a Social Insurance Number (SIN).
3. Submit your application
Apply online (many issuers offer instant approval) or in person.
The issuer will check your credit history and may request additional information.
4. Activate and use
Once approved, your card will be mailed within 14 business days.
Activate it online or by phone before making purchases.
Can international students get a credit card in Canada?
Yes, international students can apply for credit cards in Canada. You’ll need a SIN, proof of enrollment, and government-issued ID (passport or Canadian driver’s license). Some banks offer international student-friendly credit cards.
How to make the most of your first student credit card
Maximize the benefits of your student credit card by following these key strategies:
Pay your bills in full and on time to avoid interest charges. If you can’t pay your full balance, at least make the minimum payment required.
Use your card strategically to earn rewards and build a positive credit history. Just make sure you’re spending within your means.
Monitor transactions by reading your credit card statement and paying attention to your purchases so you know where your money is going. Some credit cards suitable for students even have an app that analyzes your spending for you.
Take advantage of perks that come with your card, like free extended warranty, rental car discounts and purchase protection, which could help save money.
Secure your account by choosing a strong PIN and enabling alerts to protect against credit card fraud.
You can pay your bill whenever you want. Most people will wait for their bill to arrive and then pay it off all at once. Others will pay off their charges as they accumulate to help prevent overspending.
Frequently asked questions
Can I apply for student credit cards with a low credit score?
Can I apply for student credit cards with a low credit score?
Absolutely! Many student credit cards don’t require a strong credit history. If you’re just starting out, look for ones that accept students with limited or no credit. You might need to show some form of income (even if it’s a part-time job, scholarship, or student loan).
Why was my student credit card application rejected?
Why was my student credit card application rejected?
Some credit card issuers allow this, but many require proof of annual income. After all, you need some form of income to pay your bills.
Having an existing bank account with the financial institution where you’re applying can improve your chances of approval since they can verify your assets.
Can I pay tuition with my student credit card in Canada?
Can I pay tuition with my student credit card in Canada?
Even though student credit cards are easier to qualify for, approval isn’t guaranteed. Common reasons for rejection include:
Not meeting the age requirements.
Not residing in Canada.
Lack of proof of income.
Insufficient income.
Being an international student without permission to work in Canada (which prevents obtaining a Social Insurance Number).
A low credit score from previous credit history.
Failure to provide proof of enrollment (if required).
What should I do with my student credit card after graduation?
What should I do with my student credit card after graduation?
Some Canadian colleges and universities accept credit card payments for tuition, but not many. Even if they do, you may not be able to use a student credit card due to lower spending limits.
Additionally, post-secondary institutions often charge significant processing fees — sometimes as high as 3% of the total transaction. For example, a $5,000 tuition payment could come with a $150 fee.
Before using a student credit card for tuition, check what credit card fees apply and explore alternative payment methods, such as direct deposit or a cheque.
What happens if I miss a payment?
What happens if I miss a payment?
You can cancel your credit card after you graduate, but you have other options:
Keep it open. A long credit history helps your credit score, so keeping your student card open (even if you don’t use it often) can be beneficial.
Request a product upgrade. Some banks will let you switch to a non-student version of your card with better perks, like higher rewards or no foreign transaction fees.
Increase your credit limit. You should update your information with your credit card provider, especially if your income has increased. Ask about a limit increase to improve your credit utilization ratio.
Avoid closing your card right away (unless the card has an annual fee you don’t want to continue paying). Keeping it open — even if you don’t use it much — can help maintain a strong credit score.
Can you get a student credit card with no income?
Can you get a student credit card with no income?
If you miss a single payment, you’ll be charged interest and could see a small dip in your credit score. Missing two or more consecutive payments can have more serious consequences:
Your bank may increase your interest rate or classify your account as delinquent.
Your credit score may drop, making it harder to get loans in the future.
If you miss a payment by mistake, pay it as soon as possible. You can also call your credit card provider to ask if they’ll waive the interest charges. To prevent future missed payments, set up automatic payments or reminders.
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Shannon Terrell
Georgia Rose