2025's Best Student Credit Cards for Canadians

Student credit cards 101

If you’re a post-secondary student, you may be eligible for a student credit card. Student credit cards help you build your Canadian credit history, which is necessary to become eligible for a car lease, mortgage and much more down the line. Student credit cards not only help you complete day-to-day financial transactions, but they also allow you to enjoy certain student advantages such as sign-up bonuses, low-to-no annual fee, and great rewards programs.

Best Student Credit Card of 2025

Students are often overloaded with expenses and costly fees throughout their post-secondary education. Tuition? Expensive. Student housing? Expensive, too. Textbooks? You get the drift. Not to mention the cost of smartphones and the mile-long list of program requirements like laptops.

The list continues with cost-of-living expenses like groceries or transportation. Fortunately, students have a few options to score cash back or points with a rewards credit card.

Student credit cards usually have no fee and few eligibility requirements. Some cards require proof of enrollment in a post-secondary institution, but typically do not require a credit check and have high approval rates.

We compared the leading student credit cards using our Best of Finance methodology and ranked the cards that provided the highest value.

Pros and cons of student credit cards

As a student, having a credit card comes with a lot of great perks and benefits. But there are also some cons that you should be aware of. Here’s what you need to know about having a student credit card.

Pros of using a student credit card

1. Building credit history: When you use your student credit card responsibly, you get the benefit of building your credit history, bit by bit. Once you graduate, a positive credit history will help you finance a car, rent an apartment, or buy a house. A strong credit history that shows timely bill payments increases your creditworthiness and helps you secure a loan in the future.
2. Student perks: Unlike other credit cards, student credit cards come with perks that are specific to campus life, entertainment and dining rewards in the form of movie tickets, dining discounts, and more. Plus, many student credit cards don’t carry an annual fee. As a student, not only do these perks come in handy, but they’ll also allow you to save money throughout the semester.
3. Emergency funds: Being a student involves lots of new costs, such as necessary books and device purchases, items which can be quite expensive for a typical student. When you have a student credit card, you can easily pay for such costs and not compromise on your necessities and then responsibly pay off the credit card bill on time. Please remember, when you rely on your credit card for emergency purchases, make sure you can afford to pay off the credit card balance. If not, you’ll face heavy interest charges for any missed payments.
4. Track your student spending: When you make payments using your student credit card, you can conveniently track your spending through your credit card statements. This will help you analyze your student budget and see if you should make any changes to it.
5. Secure and convenient: Paying with a credit card gives you the flexibility of going cashless. Best of all, any transaction you make through your student credit card is secured through your payment network. This means you are protected against credit card fraud if your card is misused by someone else. This makes paying through a credit card safer than using cash.
6. Eligibility: As a starter credit card, student credit cards don’t require a high credit score like other rewards credit cards. If you have no credit history at all, you can still quality for one as long as you are a student.
   
   

Cons of using a student credit card

1. Interest charges: If you carry a balance from month-to-month, you’ll be hit with heavy interest charges on your credit card statement. Interest rates can be as high as 20% on most student credit cards. To avoid paying any interest charges on your student credit card, just ensure that you are signed up for bill alerts, so you never miss any credit card payments.
2. Temptation to spend: When you get a credit card for the first time, it can be quite easy to go overboard with your spending because of easy credit access. Don’t max out your credit card and, as much as possible, pay the entire balance each month. Check your credit card statement regularly to see what you’ve spent your money on and your credit utilization rate. The rule of thumb is to not use more than 30% of your credit allowance.
3. Negative effects on your credit history: Any missed payments can negatively affect your overall credit rating. If you don’t think your credit card spending through, you can easily fall into debt and face heavy interest charges. If you think you can’t responsibly handle a credit card as a student, then maybe a student credit card isn’t the right option for you.
4. Lower limit than regular credit cards: While looking at student credit cards, you’ll notice that they have a lower spending limit compared to other credit cards because they are seen as “starter” credit cards. With time, if you continue to make responsible credit card payments, you can request for a spending limit increase by contacting your credit card provider. If you don’t want to wait for that to happen, you can try opting for a higher limit credit card if you’re eligible.
5. Lesser perks as compared to other rewards credit card: Most student credit cards come with no annual fee and as a result they have far lesser rewards that are mostly aimed at students. On the other hand, popular rewards credit cards may come with an annual fees but also have far more lucrative rewards such as travel rewards, gas rewards, cash back, and more. If you’re looking to earn more rewards, a student credit card may not appeal to you.
6. May require a co-signer: If you are under the minimum age requirement, the credit card provider may require you to have a co-signer on your credit card application. The minimum age requirement for a credit card depends on the province you live in. In provinces such as Alberta, Manitoba, Ontario, Quebec and PEI, the minimum age is 18. In all other provinces and territories, the minimum age for a credit card application is 19.