You don't need income or a credit score to get a Canadian student card. Big-5 banks approve based on student status alone. Use one in school to build credit — your future self will thank you for the 720+ score by graduation.
Cashback auto-deposit to TFSA · Tangerine integration
SPC discounts free · 0% intro on balance transfers
Welcome 10% on first $2k spending (3mo)
Avion-style redemption flexibility
Free Scene+ membership · movie deals
Easy approval · TD integration
$500 deposit · 100% approval · reports to both bureaus
$75 deposit (lowest)· guaranteed approval
Not a card · installment loan that reports payment history monthly
Even just one $5 coffee. The card needs activity to report to the bureaus. No activity = no score building.
Don't pay on the due date — pay before the STATEMENT CLOSES. This shows 0% utilization, the best signal. Statement close = 21 days before due date.
Interest rates are 19-21%. Carrying a balance burns money AND raises your utilization ratio. Pay in full, always.
Each application drops your score ~5 points for 12 months. Pick ONE student card. Get a second only after 12 months.
Don't close it after graduation. Your first card becomes your oldest account — average age of accounts boosts your score over time.
Typically $500-$2,500 for student cards. Limits start low but can grow to $5k+ after 12 months of good use + a request for increase.
Yes. Many students upgrade their first card after graduation. Keep the student card open (zero balance) for the credit history boost.
Get a secured card (Home Trust, Refresh, Capital One Guaranteed). 100% approval rate with the deposit. After 6-12 months, reapply for unsecured.
No. Even if they help you apply, your transactions are private. Some parents add students as authorized users on their own card — this is different (parent sees activity).