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Best Student Credit Cards in Canada for September 2025

Aug 29, 2025
The best student credit cards in Canada have low fees and interest rates while still providing some perks and strengthening your credit profile.
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Written by Shannon Terrell
Lead Writer & Spokesperson
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Written by Georgia Rose
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Written by Shannon Terrell
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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.

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Best student credit cards in Canada

👇 Use the tabs below to see our best-overall card, explore top picks, or check out a summary of our selections.

Best overall student card
CIBC Dividend® Visa* Card for Students
CIBC Dividend® Visa* Card for Students
4.4
NerdWallet rating
Annual fee$0
Interest rates
21.99% / 22.99%
Intro offer
Up to $125
Recommended credit score760-900

Methodology

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NerdWallet Canada selects the best credit cards based on overall consumer value as well as their suitability for specific kinds of consumers. Factors in our evaluation methodology include each card’s earning rates, rewards structure (such as flat-rate or bonus categories), annual fee, redemption options, promotional APR period for purchases, bonus offers for new cardholders, and noteworthy features such as insurance, loyalty bonuses or the ability to choose one’s own rewards categories.
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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. Here's what to know:

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.

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Types of student credit cards

Each student credit card type offers unique benefits. Click below to explore your options.

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.

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.

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.

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.

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.

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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 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.

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How to get a student credit card

Getting a student credit card involves four simple steps:

1. Compare your options

2. Check eligibility requirements

Common criteria includes:

  • Age: 18+ (or legal age of majority in your province).

  • Credit score: 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

4. Activate and use

  • Once approved, your card will be mailed within 14 business days.

  • Activate it online or by phone before making purchases.

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How to make the most of your 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.

🤓Nerdy Tip

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.

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Frequently asked questions

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).

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).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.

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.

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.

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.

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.

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.

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