Below we highlight the benefits of student cards and provide you with a list of the best student cards currently available in Canada. If you’re looking for the ultimate for your students, look no further than the Canadian Student Credit Card Association.
Below, we highlight the benefits of student credit cards and provide a list of the best student cards currently available in Canada. The best student credit cards can save you money, but they contain late payments and risks.
If you’re interested in a cashback card, read more about the best student loan deals. In addition, we have compiled a credit card comparison from Hardbacon that lists hundreds of Canadian credit cards for you.
Best Credit Cards for Students in Canada
The finder compared more than 200 credit cards to identify the best student cards for 2021, singling out and evaluating financial characteristics that are important to students, including access to perks based on academic achievement and accessibility based on credit history. We examined 19 credit cards marketed specifically for students with an annual minimum balance of $10,000 and a maximum annual balance of $1,500. In addition, the best student credit cards offer the following features: a cashback card, a student loan offer and an interest-free balance transfer.
While credit cards with the best perks and rewards typically require a good or excellent credit history, some cards for people without credit cards are unsecured cards designed for borrowers. Such products generally include a secured credit card with a minimum balance of $10,000 and a maximum annual balance of up to $1,500. There is, however, a difference between an unsecured credit card and an unsecured credit card intended for people without credit. For example, there is no interest-free bank transfer, cashback card or student loan offer.
Applicants may not have a credit history for international students, so whether you apply for a secured card makes all the difference. Student cards have different advantages and disadvantages to secured cards, and where they are used can make a difference in terms and conditions. This doesn’t necessarily mean they will remain the best cards until you improve your credit rating and history. However, they are also great starter cards and will be the first credit card for a cardholder.
It’s not the only way to improve your credit card, but you should learn how student loans fit into your general credit world. If your son or daughter uses their credit card responsibly, this can be an excellent way for you to borrow.
A few credit cards are not explicitly referred to as student credit cards, but these are some of the Canadian students’ most popular credit cards. They are designed for students because such credit cards have low fees and low-interest rates and often offer many rewards and perks. However, the most significant advantage of student cards is that they give you the same benefits for non-students as their student card counterparts.
This is ideal for students who want to start building up their credit history, and it is a great place to start if you pick up a credit card for entering university or college. As well as building up your credit history, some of the best credit cards offer a range of other perks, including free or low interest, as well as rewards and bonuses.
Can I Get a Student Credit Card Easily?
A student card can also serve as a starter credit card, but it can be better if you’re coming dry or not qualifying for a student card. A fee-free credit card with excellent rewards and a low annual fee is a good option for students looking to build a credit history. However, if you try the route with student credit cards, a secured credit card may be the best option for you, and it may even be your best option if it is the only one available.
Students who maximize their credit card perks will appreciate this card more than a flat-rate card, just like any other card.
Citi Secured Mastercard is another secured credit card with benefits for students. Still, this card offers the same level of flexibility and earns more than Bank of America’s Cash Rewards, making it an excellent card for students who commit to playing the game of credit cards with rewards.
The best credit cards in Canada, both domestic and international, enjoy better purchasing power and quality of life. International students who do not have a credit history will also be allowed to build up their credit history and unlock their Journey Student Rewards credit card. Credit cards for students without credit tend to be more expensive than those students have on their side, but with lower eligibility standards, this is an earned Mastercard for students.