Credit Cards For Students With No Credit In Canada

by Thomas Vargo

If your a student and don't have a established credit history in Canada because you never had a loan or credit card before, a student credit card may be a great option for you. Banks offer these cards to students with no to limited credit history to help college students get started on the right path to having good credit when graduating from school. These Canadian student credit cards can also be helpful when in need of books, traveling, and other college expenses. Our guide has listed the banks in Canada that offer students either a Visa or MasterCard below. Please note: A co-signer may be required for the following cards.

TD Canada Trust - They have a Visa card designed especially for students and can be practical for everyday purchases such as movie rentals, video game rentals, books, travel and other student needs. This card can be a great way for a student in Canada to establish a important credit rating for the future. Credit cards available for students in Canada include the TD Classic Travel Visa card, TD Rebate Rewards Visa card, and the TD Green Visa card. Optional Visa card benefits includes card assist, balance protection insurance, TD Auto Club, and travel medical insurance. A student in Canada can apply for a student Visa credit card at any TD Canada Trust branch.

RBC Royal Bank - They offer a no annual fee Premium Gold Visa card for college students. Other credit cards available to students include a Visa Cash Back card and a Signature RBC Rewards Visa card. Insurance protection includes auto rental collision/loss damage insurance, travel accident insurance, purchase security insurance, and extended warranty protection. These Canadian student Visa cards also come with chip and pin technology for enhanced security and zero fraud liability. Further information can be found at their website at http://www.rbcroyalbank.com.

Scotiabank - Students in Canada can get a Visa credit card that was designed with students in mind. Cards available for students include the L'earn Visa card that offers an accelerated Moneyback reward program and a minimum credit line of $500. Another Visa card available for students includes the Scene Visa card that earns one scene point for every $1 in credit card purchases and 5 Scene points for every $1 in credit card purchases at participating Cineplex theatres. These points can be redeemed for movies and music. This card also comes with a minimum credit line of $500. Both these cards also come with Visa cheques, rental car discounts, Visa payWave that works by waving your card over the card reader and going, Visa zero liability protection, and a optional balance protection. Further information on their Canadian student credit cards can be found at http://www.scotiabank.com.

CIBC - They offer a Classic Visa card for full-time students in Canada enrolled in a recognized college or university that has no minimum income requirements and no annual fee. Benefits of this Visa card include a automatic $100,000 Common Carrier accident insurance, Purchase Security and Extended Protection insurance, emergency card replacement, and CIBC CreditSmart that lets you manage, track and organize your credit card activity. Optional benefits includes CIBC Payment Protector, CIBC Trip Cancellation/Trip Interruption insurance, and CIBC Emergency Travel Medical insurance. Further information on this Canadian student credit card can be found at https://www.cibc.com.