Student Credit Cards
Student credit cards, Student credit card reviews and credit card application details.
The
Canadian credit card market features some great products intended for the student population enrolled in universities and colleges in the country. Some financial institutions offer
student credit cards with flexible terms,
low interest rate, no annual fee, and other beneficial features. These financial products are well-suited for individuals who seek to establish
credit history.
In order to choose the best suited product, it is wise to consider your needs and priorities. For instance, if you often travel home to visit your family, sweetheart, and friends, a credit card that goes with
frequent flyer miles might be the best for you. These cards entitle holders to receiving bonus points on purchases charged to the card, and you can use the accumulated amount towards airfare.
If you brought your vehicle on campus and spend your days driving your friends and roomies around, you might consider applying for a
gas credit card. This product allows you to earn free gas for purchases made at gas stations, supermarkets, and some malls, with these being charged to the card. With some gas cards, you get up to a 5 percent rebate in gas money. With all the free gas, you won’t complain about gas prices next time you head on a road trip.
If you are not a frequent flyer and don’t own a vehicle, you can opt for a
cash back credit card. The amount of cash you will get back varies from card to card, but you can normally expect between 1 and 5 percent on purchases charged to the card. The points you accumulate can be spent at a variety of places such as Gap, Pizza Hut, Blockbuster, Footlocker, and many others.
Among the student credit cards available on offer, a good product is advertised by the
Royal Bank of Canada. The
Visa Classic Student Card goes with no annual fee, interest rate of 19.99 percent, supplementary cards at no added cost, and additional features. Some of these are $1000 minimum credit limit, up to $500 daily access to cash worldwide, Visa payWave, and commission-free travellers cheques.
Scotiabank L'earn VISA® Card for Students, featured by the
Bank of Nova Scotia, is another credit card tailored to the needs of students. The product goes with no annual fee, interest rate of 18.59 percent, grace period of 21 or more days, and minimum credit limit of $500. Additional features include instant cash advances, rental car discounts at AVIS car rental, and VISA balance protection in the event of involuntary unemployment, disability, health crisis diagnosis, or death. The Scotia VISA cheques can be used to pay for utility and medical bills, insurance premiums, and large purchases, as well as for balance transfers from retail and gas credit cards that come with high interest rates.