Best student cards 2012 - MoneySense

Best student cards 2012

We looked at all major student credit cards in Canada, searching for those with the best combination of low annual fees and generous rewards.

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When students first set foot on campus, they’re often pitched by credit card companies. Don’t sign up just because you’re offered a free Frisbee or box of cookies. Find a card to meet your needs and—since none of these are true low-rate cards—strive to pay off balances each month. Handle your card with care and you’ll build a good credit score that will help you buy a first car or home in the future.

To find the card that best matches your spending and re-payment patterns, try our Credit Card Selector Tool.

In the meantime, here’s our list of best low-cost cards that provide the highest average percentages of cash back for every dollar you spend:

1.


RBC
Cash Back MasterCard
Annual Fee: $0
Current Interest Rate: 19.99%
Card Details: Includes purchase security and extended warranty.

2.


Scotiabank
L’earn Visa
Annual Fee: $0
Current Interest Rate: 19.99%
Card Details: Includes car rental discounts.

3.


TD
Rebate Rewards Visa
Annual Fee: $0
Current Interest Rate: 19.99%
Card Details: Includes car rental discounts.

4.


Scotiabank
Scene Visa
Annual Fee: $0
Current Interest Rate: 19.99%
Card Details: Includes discounts on car rentals and movie snacks.

5.


TD
Classic Travel Visa
Annual Fee: $19
Current Interest Rate: 19.99%
Card Details: Includes car rental discounts.

6.


BMO
SPC Air Miles MasterCard
Annual Fee: $0
Current Interest Rate: 19.5%
Card Details: Includes discounts at various retailers, extended warranty, purchase protection.

7.


RBC
Signature Rewards Visa
Annual Fee: $39
Current Interest Rate: 19.99%
Card Details: Includes travel and car rental collision insurance, purchase security and extended warranty.

8.


RBC
Rewards VISA Gold
Annual Fee: $0
Current Interest Rate: 19.99%
Card Details: Includes travel and car rental collision insurance, purchase security and extended warranty.

What will you pay for your student credit card?

Here we show the net cost of the cards, assuming your unpaid balance is equal to your monthly spending.

Learn how we crunched the numbers for Canada’s Best Credit Cards 2012 by reading our methodology.

Have trouble paying off your balance month after month? Try one of these low-rate cards. Students who manage to pay off their balance every month are ahead of their class and ready for bigger rewards. Check out our Best cash-back cards 2012, Best travel cards 2012 and Best merchandise cards 2012 lists.

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