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  1. Nov 1, 2024 · Low-interest student credit cards. Most credit cards in Canada carry a purchase interest rate around 20%, and student credit cards are no exception. Credit card interest rates on balance transfers ...

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    • Pay Bills in Full and on Time
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    One of the biggest advantages to owning a credit card early in life is the head start it gives you on developing a healthy credit score. The best way to achieve this is by ensuring your monthly statements are paid on time and in full. Set spending limits within your means and use automatic reminders to keep track of bill due dates. This way, you'll...

    Spending more than you can afford to pay off each month can quickly lead to compounded interest and debt, which can be difficult to overcome. Stick to a budget and maintain spending limits. This way, you can steadily build your credit without unnecessary stress.

    Excellent tool for building credit:Establishing a strong credit history and score early on is crucial for major life events such as getting a mortgage or small business loan. Landlords and even som...
    Easy monitoring of spending:Owning a credit card as a student helps you track your monthly expenses and spending patterns. While you can review your transactions on your monthly statement, certain...
    Earning rewards (point collection or cash back):One huge benefit of using a credit card is the opportunity to earn rewards. While not all credit cards provide rewards, have a rewards card allows yo...
    Being prepared for emergencies:Life is unpredictable, and unexpected events can lead to unforeseen expenses that exceed your available cash. Thankfully, having a credit card gives you the ability t...
    Interest can pile up:One major drawback of owning a credit card is the potential for accruing interest. If you fail to pay your statement on time, an additional percentage is added to your principa...
    Risk of overspending: Getting your first credit card is a significant milestone. The freedom and purchasing power it provides can be exhilarating, leading inexperienced users to overspend and treat...
  2. Nov 7, 2024 · BMO CashBack® Mastercard®* (Student) If you want to earn cash back on your essentials, like groceries. Rewards: 3% cash back on groceries, 1% on recurring bills and 0.5% on everything else ...

  3. Unlimited cashback and up to 2% back on groceries 1. Purchase security and extended warranty protection ***. View Card Details. Annual Fee: $0. Purchase Rate: 20.99%. Additional Card: $0. Cash Advance Rate: 22.99% *. Apply Now. View All Student Cards.

  4. CIBC Dividend® Visa* for Students. The CIBC Dividend Visa for Students is a great card for students interested in establishing their credit while earning cash back. Discounts of up to 30% on more than 450 top brands are available to cardholders through the SPC+ membership that comes with the card.

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  6. A no annual fee student credit card from BMO is a good way to start building a healthy credit history. Plus you can earn rewards every time you spend. Apply online.

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