- 3%Cash back on groceries, up to $500/month
- 1.5%Cash back on pre-authorized payments
CA$0
3% cash back on groceries, up to $500/month, and 1.5% on pre-authorized payments.
21.99%
23.99%
The BMO CashBack Mastercard for Students stands out as the top choice because it offers a strong 3% cash back on groceries, making it ideal for students who frequently shop for food. With no annual fee and no income requirement, it provides excellent value for those just starting their credit journey.
Pros:
- No annual fee
- Good first credit card for students
Cons:
- Cash back limit on groceries
- Limited to student applicants
2.Scotia Momentum No-Fee Visa Card for Students
Scotiabank
- 5%Cash back on all purchases for the first 3 months
- 1%Cash back on all other purchases
5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases).
5% cash back on all purchases for the first 3 months, then 1% on all other purchases.
20.99%
22.99%
What sets the Scotia Momentum No-Fee Visa Card apart is its generous 5% cash back on all purchases for the first three months, allowing students to maximize their rewards during their initial spending. This card is particularly appealing for those looking for a straightforward cash back option without an annual fee.
Pros:
- No annual fee
- High introductory cash back rate
Cons:
- Limited time offer
- Lower cash back rate after the introductory period
3.TD Cash Back Visa Card for Students
TD Canada Trust
- 3%Cash back on eligible gas, groceries, and drugstore purchases
- 1%Cash back on all other purchases
Earn CA$125 in Cash Back Dollars when you spend CA$1,000 or more within the first 3 months.
Earn unlimited 3% cash back on eligible gas, groceries, and drugstore purchases, and 1% on all other purchases.
21.99%
22.99%
The TD Cash Back Visa Card for Students shines for its robust welcome bonus of CA$125, which is a significant incentive for new cardholders. With a solid cash back structure that rewards everyday spending, this card is an excellent choice for students looking to earn rewards while managing their finances.
Pros:
- No annual fee
- Strong welcome bonus
Cons:
- Higher spending requirement for bonus
- Limited to specific categories for higher cash back
4.TD Rewards Visa Card for Students
TD Canada Trust
- 1%TD Rewards Points on all purchases
Earn 15,152 TD Rewards Points after you spend CA$500 in purchases within 90 days of account opening.
Earn 1 TD Rewards Point for every CA$1 spent on all purchases.
21.99%
22.99%
This card is appealing for its straightforward earning structure, allowing students to earn 1 TD Rewards Point for every CA$1 spent. While it may not offer the highest rewards rate, it provides a solid entry point for students looking to build their credit and earn points for future rewards.
Pros:
- No annual fee
- Simple rewards structure
Cons:
- Low earning rate
- Limited bonus categories
5.RBC ION Visa
RBC
- 1.5%Avion points on groceries
- 1%Avion points on all other purchases
Earn up to 14,000 Avion points.
Earn 1.5 Avion points per dollar on groceries and 1 Avion point on all other purchases.
20.99%
22.99%
The RBC ION Visa is a strong contender for students looking to earn Avion points on their everyday purchases. With no annual fee and a competitive earning rate on groceries, it provides a valuable option for those who frequently shop in this category.
Pros:
- No annual fee
- Good earning rate on groceries
Cons:
- Limited to Avion points
- Higher interest rates
- 3%Cash back on groceries
- 1%Cash back on all other purchases
Welcome bonus of up to CA$125 in total first-year value.
Earn 3% cash back on groceries and 1% on all other purchases.
20.99%
22.99%
The CIBC Dividend Visa Card for Students is an excellent choice for those who want to maximize their cash back on grocery purchases. With no annual fee and a solid welcome bonus, it provides a great starting point for students looking to build their credit.
Pros:
- No annual fee
- Strong cash back on groceries
Cons:
- Limited categories for cash back
- Higher interest rates
Did you know?
Student credit cards in Canada may require proof of enrollment. Compare purchase rates, fees, and whether you need a co-signer before you apply from this list.
Final Words
As you consider your options for the best college student credit cards this October, remember to prioritize features that align with your spending habits and financial goals. Take time to compare different cards to find one that offers the most benefits for your lifestyle, ensuring you make an informed decision that supports your financial journey.
Frequently Asked Questions
The BMO CashBack Mastercard for Students offers a welcome bonus of CA$0.
With the BMO CashBack Mastercard for Students, you earn 3% cash back on groceries, up to $500/month, and 1.5% on pre-authorized payments.
The Scotia Momentum No-Fee Visa Card for Students offers 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases).
After the initial 3 months, the Scotia Momentum No-Fee Visa Card for Students provides 1% cash back on all other purchases.
The TD Cash Back Visa Card for Students allows you to earn unlimited 3% cash back on eligible gas, groceries, and drugstore purchases, and 1% on all other purchases.
Eligibility for student credit cards typically includes being a full-time student and being at least the age of majority in your province. Some cards may also require proof of income or enrollment in a post-secondary institution.
Most college student credit cards come with no annual fees, making them budget-friendly options for students. However, it's important to check individual card offers, as some may charge fees for premium benefits.
To choose the best credit card as a student, consider factors like reward rates, fees, and any welcome bonuses. Additionally, evaluate your spending habits to find a card that maximizes your rewards based on where you spend the most.
