Top 3

Best Student Credit Cards

MBNA Rewards Student Awards Card

1,000 bonus points towards cash back, travel, and more

On MBNA's Secure Website

Scotiabank SCENE VISA Card

2,000 bonus SCENE points, earn points towards movies

On Scotiabank's Secure Website

Scotiabank L'earn VISA Card

0.25%-1% cash back tiers

On Scotiabank's Secure Website

The best student credit cards help those who have little to no credit established themselves. Check out our picks of the best credit cards for students.These days, if you want to be able to buy a house later or get a good deal on your insurance rates, you need good credit.

One of the easiest ways to build good credit is with the help of a credit card. Credit cards allow you to use credit on a regular basis. Plus, issuers report to credit bureaus once a month. If you are responsible with your use of credit, making occasional purchases and paying them in full before you are charged interest, you can build a good credit history. And you can build it fast.

The best student credit cards in Canada help those who have little to no credit established themselves. You can start building a financial reputation with the right credit card. Below are the best credit cards for students.

On MBNA's Secure Website

Bonus: 1,000 points
Annual Fee: $0
  • Earn 1 MBNA Rewards point for every $1 you spend on eligible purchases.
  • 1,000 point bonus after you make your first eligible purchase.
  • Redeem points for cash back, travel, merchandise, gift cards, and more.
  • No limits on what you can earn in rewards.
  • APR: 19.99%.
  • No annual fee.

The MBNA Rewards Student Awards Card is a very straightforward credit card that can be used to build your credit history while earning rewards. You receive one point for each dollar that you spend. This is convenient, since you don't need to worry about rotating categories or tiers. You just make your regular purchases, wherever you normally shop, and receive the rewards.

The MBNA Rewards Student Awards card also provides you with 1,000 points after your first purchase. Points are flexible and can be redeemed for merchandise, travel, cash back, and even charitable donations.

This card comes with no annual fee. You are also not capped on how many rewards points you can earn. The interest rate is 19.99% for all transactions from purchases to balance transfers to cash advances.

On Scotiabank's Secure Website

Bonus: 2,000 SCENE points
Annual Fee: $0
  • Earn one point for every dollar spent anywhere.
  • Earn five points for each dollar spent at participating Cineplex locations.
  • Get 2,000 bonus points with your first eligible purchase.
  • Redeem points for movie admissions and concessions.
  • Purchase APR: 19.99%.
  • Cash advance and balance transfer APR: 22.99%.
  • No annual fee.

You can build your credit and earn cool movie rewards with the Scotiabank SCENE VISA Card. Earn one point for each dollar you spend anywhere. Then, redeem those points for movie admissions and concessions. You can earn extra points (five for each dollar spent) at participating Cineplex locations. This is a good way to boost your rewards and ensure that you spend less overall on entertainment.

There is no annual fee with this student credit card, and you get 2,000 bonus points with your first SCENE VISA card purchase. That’s enough for up to two free movies. Buy what you normally would, pay off the balance each month so you aren't paying interest, and then get your entertainment for free. (Full Review)

On Scotiabank's Secure Website

Bonus: –
Annual Fee: $0
  • Earn up to 1% cash back, once you spend $1,000 in a year with the card.
  • Tiered program starting at 0.25%.
  • Cash back is credited to your VISA statement.
  • Compatible with Apple Pay, Visa checkout, and payWave.
  • Purchase APR: 19.99%.
  • Cash advance and balance transfer APR: 22.99%.
  • No annual fee.

Earn up to 1% back every year with the Scotiabank L’earn VISA Card . There is a tiered rewards system, starting at 0.25% cash back and working up to 1%. If you use your card wisely, though, paying for things you would buy anyway, it’s possible for you to earn rewards quickly and get that cash back faster. You get 0.25% back on the first $500, and then 0.50% cash back on the next $500. You earn 1% on any amount over $1,000.

There is no annual fee with this credit card, which means that you don’t have to worry about extra costs. The interest rate is 19.99% on purchases and 21.99% on cash advances and balance transfers. You can also get special discounts with various partners. Scotia bank also offers student credit tips for free so that you can learn how to best manage your credit card. You need to apply for this card at a branch, or by calling 1-888-882-8958.

It's also nice that the L'earn card comes with Visa payWave, so you can wave your card and go. This credit card is also compatible with Apple Pay and you can use Visa Checkout. It's convenient for a student on the go.

You need to apply for this card at a branch, or by calling 1-888-882-8958. You can't actually apply online. There is also a secured version of this card for those who need a little extra credit help.

How to Use the Best Student Rewards Cards to Build Credit

Today, credit is a major part of financial planning. If you want the best interest rate when you buy a car with a loan, or when you buy a house, you need good credit. Good credit can save you thousands of dollars over your lifetime, just in the interest savings.

However, it's difficult to get credit if you haven't already built up your credit history. You can't just get a mortgage without a credit history for the lender to look at. This is where student rewards cards come in.

Credit card issuers know that you probably don't have a long credit history as a student. As a result, they are willing to issue you a card on a sort of trial basis. You won't have a very high spending limit on these cards. Many of them cap you at $500 or $1,000. However, the point of these cards isn't to spend a lot of money.

Instead, you use the card to build credit. You should only make purchases that fall within your regular budget. Carefully track what you spend and make sure you can afford to pay it off immediately. Every month, pay off your total balance. You'll avoid interest and stay out of debt. But the issuer will report your on-time payment to the credit bureaus and you'll start building a good history.

With smart student credit card use, you can start off on the right foot financially.

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