The 2 Best Credit Cards for College Students

 I can’t believe that I’m no longer in college. When I was a student I thought that college would never end. I never thought that the weekend would come. Now here I am in my late-20s writing about student credit cards as I think back to my first days with credit.

Why should students get a credit card?

To build up your credit and to learn a lesson in responsibility. It’s important to have credit because when you finish college you’re going to be applying for places to rent or even possibly a home mortgage.

Is every student ready for a credit card?

Absolutely not. If you don’t understand credit, don’t have self-control, or don’t feel ready, then you don’t have to rush. You have to do what’s best for your situation within your strengths and weaknesses.

What are good credit cards for students?

Sometimes the best credit card for students is the one that accepts you.

If you have a friend who travels often and has a fancy credit card, that’s fine. However, you’re not at that stage yet. You’re struggling to pay for your Friday night (or Tuesday night) and you likely only work a few hours per week.

I won’t analyze or break down student credit card offers because realistically, you won’t have many offers. There aren’t too many credit card companies excited about giving out credit. The offers are usually fairly the standard. The features I looked out for were:

• No annual fee.
• Easy to pay off.
• Fairly easy to get approved.
• Small credit limit to start with.

You don’t want to get too complex with your first credit card. I chose these two pieces of plastic because they both offer great rewards which is an added bonus when you're a college student applying for your first credit card.

MBNA (Insert Your School Here) Rewards MasterCard

I selected this MBNA Student Credit Card because you get the added benefit of earning rewards points while supporting your school. This credit card allows students to earn one MBNA reward point for every $1 spent on eligible purchases.

It's available for a variety of Canadian schools including the University of Toronto, York University, Ryerson University and Seneca College.

Rewards points are always a good thing to have when making everyday purchases such as groceries and textbooks.

Scotiabank Scene Visa (Rewards)

If you're an avid movie-goer like I am then you're probably already a member of the Cineplex Scene Rewards program. But did you know that there's a credit card to help you earn movies faster?

I chose this Scotiabank credit card because with your first card purchase, you get four free movie passes. Could you think of better credit card rewards than going to the movies for free? I can't.

Your first credit card won’t be your last credit card. You don’t want to get ripped off as a poor student struggling to get by. This is why I want you to make the best decision possible when you’re getting started with credit so that you don’t make any mistakes that your older self will be upset about.

Apply for your credit card right here online.

If you're a university or college student and need some help setting expenses and managing your budget this semester then check out our student guide.