Main Offers for Student Credit Cards in Canada
Student Credit cards are great to have when you need to make purchases such as textbooks, online purchases, school materials, food, and other things. However, not all student credit cards are the best to have. When looking for the one that fits you the best, look for cards that have low interest rates, no annual fee, student benefits, and a point system so that you can get some of your money back. Here are some of the main offers for student credit cards in Canada.
Credit Cards from TD Canada Trust
TD Canada Trust has Visa credit cards that are specifically designed for students. Some of the benefits that their cards have include no annual fee, balance protection insurance, rewards cards, point systems, and sometimes travel medical insurance. Exact benefits and services depend on which card you have. Some student credit cards that are available through TD Canada Trust are TD Classic Travel Visa Card, TD Rebate Rewards Visa Card, TD Green Visa Card, and the GM Card. These cards are designed to account for the differences in needs between each student.
National Bank of Canada MasterCard MC1 Credit Card
This credit card, provided for you by National Bank of Canada, has no annual fee and low interest on purchases. The interest on purchases is only around 19.50%. This bank does not allow balance transfers or cash advances on this credit card. However, it has several other student benefits. It is specifically designed to help you build a credit history while you are in school. It has MasterCard zero liability and purchase insurance that can be used until 90 days after the purchase date.
Desjardins Visa for Students Only Credit Card
This credit card also has no annual fee and has the option of balance transfers and cash advances. The interest on all purchase, balance transfers, and cash advances is 19.40%. You can take out a cash advance anywhere in the world at an amount of up to $2,500 a day. If you would like to have a lower interest rate of 11.8%, you can pay $30 annually for this rate. This card also includes free cell phone insurance and Accord D Desjardins financing.
Each student has different financial needs and therefore will need different student credit cards. Pick the card that is right for you by thinking about how often you will need to use the card, how quickly you are able to start repayment, and whether you will need a balance transfer or cash advance option.