Best Student Credit Cards In Canada For September 2022 – Forbes Advisor Canada


Student BMO CashBack Mastercard

If you want to earn money back for your essentials like groceries.

Reward: 3% cashback on groceries, 1% on recurring bills and 0.5% on everything else.

Welcome offer: 5% cashback on your first $2,500 purchases in the first three months (up to a maximum of $125 cashback). Must be applied for by July 23, 2023.

Annual fee: $0

Other advantages and disadvantages: This card has the potential to earn a lot of cashback and it is flexible. You can redeem any amount at any time. However, the 2% grocery revenue and 1% recurring bill revenue are both capped at $500 per month, at which point you earn the low base rate of 0.5%.

RBC Cashback Mastercard

You can earn up to $358.39 in annual cashback with just average spending habits.

Reward: 2% cashback on groceries and 1% on everything else.

Welcome offer: none

Annual fee: $0

Other advantages and disadvantages: Since it offers a solid 2% earning rate in the food category and a base rate of 1%, cardholders can earn big with minimal planning. However, there is a 2% earnings cap ($6,000 annually) and your cashback earnings can only be redeemed on your January statement.

CIBC Aeroplan Visa Card for students

Earn Aeroplan points on gas, groceries, Air Canada purchases and everything else.

Reward: 1 Aeroplan point per $1 spent on gas, groceries and direct with Air Canada. 1 Aeroplan point for every $1.50 spent on everything else.

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Welcome offer: 10,000 Aeroplan Points with your first purchase (up to $200 travel value).

Annual fee: $0

Other advantages and disadvantages: This card offers an opportunity to earn Aeroplan Points, which can be especially valuable when studying far from home. However, they are not as flexible as cashback.

CIBC Dividend Visa Card for students

Make more money back on groceries, gas, transportation, dining and recurring bills.

Reward: 2% cashback on groceries. 1% refund on gas, transportation, food and recurring bill payments. 0.5% back on all other purchases.

Welcome offer: $60 cashback on your first purchase within the first three months.

Annual fee: $0

Other advantages and disadvantages: This card offers the opportunity to earn big cash back in key spending categories. However, spending is capped at $80,000 per year.

TD Cash Back Visa

Earn more cashback on groceries and gas, and more Starbucks Stars.

Reward: 1% on gas and groceries and 0.5% everywhere else.

Welcome offer: none

Annual fee: $0

Other advantages and disadvantages: While this card offers solid earnings as well as perks like purchase security, there’s a $5,000-a-year cap on the grocery and gas earning rate.

PC Mastercard

Earn PC Optimum points when you shop everywhere, plus even more points at partner stores.

Reward: 10 PC Optimum points per $1 spent at Loblaws-owned grocery stores, 25 points per $1 spent at Shoppers Drug Mart, 30 points per liter at Esso/Mobil gas stations, and 10 points per $1 everywhere else.

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Welcome offer: 75,000 PC Optimum Points ($75 value) after your first purchase at an eligible PC Points store within the first six months.

Annual fee: $0

Other advantages and disadvantages: While PC Optimum points are valuable, you’re limited as to where you can earn most points and what you can redeem them for – especially if you prefer to shop.

Scene+ Visa Card for students

Earn Scene+ points for all your expenses and more when you go to the cinema regularly.

Reward: 1 Scene+ point for every $1 you spend anywhere. 5 points for every $1 you spend at Cineplex theaters or on Cineplex.com.

Welcome offer: 1,250 Scene+ points with your first purchase.

Annual fee: $0

Other advantages and disadvantages: While Scene+ points can now be redeemed for a variety of things (like movie tickets, merchandise, and travel purchases), they’re still not as flexible as cashback.

BMO Air Miles Mastercard for students

Earn airline miles for all your regular expenses.

Reward: 3 miles for every $25 spent at Air Miles partners. 2 miles for every $25 spent at eligible grocery stores. 1 mile for every $25 spent elsewhere.

Welcome offer: 800 bonus Air Miles miles when you spend $1,000 in the first three months. (must be requested before July 21, 2023)

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Annual fee: $0

Other advantages and disadvantages: While Air Miles has a variety of uses, it’s not as flexible as cash and isn’t the easiest rewards program to use.

TD Rewards Visa Card

Earn TD Rewards points on all your spending and even more points at Starbucks.

Reward: 2 TD Rewards points for every $1 on grocery, restaurant and fast food purchases and recurring bill payments. 3 points for every $1 travel purchases made through ExpediaForTD.com. 1 point for every $1 you spend on all other purchases.

Welcome offer: $50 worth of TD Rewards points to use on Amazon.ca (must be requested by October 29, 2022).

Annual fee: $0

Other advantages and disadvantages: This card offers a decent TD Rewards points accrual rate and some valuable perks such as: B. Insurance for airlines. Whole TD Rewards points are not as flexible as cash, but can be redeemed for credit on your card.

CIBC Classic Visa Card for students

A simple card with a few key benefits.

Reward: none

Welcome offer: none

Annual fee: $0

Other advantages and disadvantages: This card comes last because while it offers things like shared carrier insurance and discounts on gas, it doesn’t offer rewards for spending. That means it still gets the job done.



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