While you won’t be able to get a real credit card as a teen under 18, depending on where you live, there are several options once you turn 18 or 19. For a payment card under 18, the Mydoh Visa prepaid card from RBC is a good option.
In this guide, I’ve listed some of the best credit cards for teens in Canada, their pros and cons, how to choose the best card, the age requirement, and more.
How Old Do You Have to Be to Get a Credit Card in Canada?
To apply for a credit card in Canada, you must be 18 or 19 years old, the age of majority in your province or territory.
| Age of Majority | Provinces or Territories |
| 18 | Prince Edward Island, Manitoba, Ontario, Alberta, Saskatchewan, Quebec. |
| 19 | Newfoundland, British Columbia, New Brunswick, Nova Scotia, Northwest Territories, Labrador, Nunavut, Yukon. |
Best Prepaid Credit Cards for Teens
Prepaid cards are slightly different because you must load them with your funds, but some good options are available.
1. KOHO Easy Mastercard
This card allows you to earn 1% cash back on groceries and transportation. You get a free account for spending and saving, and it also comes with a mobile app.
KOHO also offers paid plans with options to earn more cashback and build credit. You must be the age of majority in your province or territory to apply (18 or 19).
KOHO Easy Prepaid Mastercard
$20 sign up bonus after first purchase (use CASHBACK promo code during sign-up)
Earn up to 5% unlimited cash back
3.00% savings interest on your entire balance
Free budgeting app
$0 monthly fee
2. Mydoh Smart Cash Card
The Mydoh Smart Cash Card is a Visa prepaid card targeted at kids and teens. It’s a reloadable card, and you can set up tasks to earn for odd jobs. Parents can also track kids spending. It currently costs $2.99 per month after a 30-day trial.
Here are some Mydoh alternatives.
Mydoh
Reloadable prepaid Visa
Money management app for kids
$10 sign up bonus
$2.99 monthly & 30-day free trial
3. EQ Bank Card
This free prepaid Mastercard allows you to earn 0.5% cashback on all purchases. You also earn up to 4% interest on money in your account, and you get free ATM withdrawals in Canada and no FX fees.
You need to open a Savings Plus Account and then fund the account. It’s not currently available in Quebec, and you must be the age of majority to apply.
EQ Bank Card
Earn up to 4%* interest on your balance
0.50% cash back on purchases
No monthly account or FX fees
Free ATM withdrawals
4. Neo Money Card
Open a Neo Money account, and you will get this prepaid Mastercard. You can earn 2.25% interest on your savings and earn cashback when you spend, earning 5% on average at partner stores. There is no annual fee, and cashback is unlimited. You can also use the app to track your spending.
Neo Money Account
Unlimited 5% average cash back
No monthly fees + $20 bonus
2.25% non-promo interest rate paid on balance
Unlimited free transactions
Get a Mastercard for payments online and ATMs
Access to a no-annual-fee credit card
Best No-Fee Credit Cards for Teens in Canada
Don’t want to pay an annual fee to use your credit card? Here are the best options available.
5. Tangerine Money-Back Credit Card
You can earn up to 2% cashback with this free Mastercard on two spending categories like groceries and gas. You’ll also earn 0.5% on everything else, and cashback is paid monthly. It has an APR of 19.95% on purchases and cash advances.
Tangerine Money-Back Credit Card
Best no-fee cash back credit card
Annual fee: $0
Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases.
Welcome offer: Get an extra 10% cash back on up to $1,000 in spending in the first 2 months ($100 value).
Interest rates: 19.95% for purchases, balance transfers, and cash advances.
Minimum income requirement: $12,000
Recommended credit score:
Fair to Good
On Tangerine’s website
6. Neo Card
The Neo Card is a Mastercard that allows you to earn unlimited cashback with no annual fee. Earn an average of 5% at partner stores, and you can track your spending too. You’ll also earn 2.25% interest in your Neo Money account.
Neo Credit
Excellent credit card for cash back
Annual fee: $0
Rewards: Earn up to 15% cash back for first purchases at eligible partners, 5% average cash back at partner stores for subsequent purchases, and 0.5% cash back on average on all purchases.
Welcome offer: $25 bonus on approval.
Interest rates: 19.99% – 22.99% for purchases.
Minimum income requirement: None
Recommended credit score:
Fair
On Neo Financial’s website
Best Secured Credit Card for Teens
If you don’t have enough credit history or want to build your credit score, here are some of the best secured credit cards for teens I recommend.
7. Neo Secured Card
Neo also offers a secured credit card, which is similar to the standard card, but it has guaranteed approval with no hard credit check.
It’s free to apply, and you can earn unlimited cashback at 0.5%. It also has no over-limit fees and a flexible credit limit, so you can increase it when needed.
Neo Secured Credit
Best secured credit card for bad credit
Annual fee: $0
Rewards: Earn up to 15% cashback on first purchases at eligible partners, 5% cash back at partner stores, and 0.5% unlimited cashback on everything else.
Welcome offer: $25 bonus
Interest rates: 19.99%-22.99% for purchases, 22.99%-28.99% for cash advances.
Minimum income requirement: None
Recommended credit score:
None
On Neo Financial’s website
Best Student Credit Cards in Canada for Teens
There are several credit cards available to students in Canada. Here are some of the best credit cards targeted at students.
8. RBC ION Visa
This student card has no annual fee, and additional cards are also free. The main benefit is that you can earn Avion reward points on your spending.
For example, you’ll earn 1.5x points for every $1 spent on groceries, gas, transit, and streaming services and 1 point for every $1 spent on anything else. It’s a great option for students who want to earn points as they spend.
RBC ION Visa
Entry-level RBC rewards credit card
Annual fee: $0
Welcome offer: Get 3,500 bonus Avion points following approval.
Rewards: Earn 1.5x Avion points per $1 spent on groceries, rides, gas, streaming, subscriptions, digital gaming, and EV charging; 1 Avion point for every $1 spent on all other purchases.
Interest rates: 19.99% on purchases and 22.99% on cash advances.
Minimum income requirement: None
Recommended credit score:
Good or better
On RBC’s website
9. Scotiabank Scene+ Visa Card for Students
Targeted at students and with a $0 annual fee, this card allows you to earn Scene+ points. You’ll earn 2x points for every $1 spent at stores including Sobeys and Safeway, as well as at Cineplex, and 1 point for everything else.
Other perks include savings on car rentals. You can’t apply online and must book an appointment or apply over the phone.
Scotiabank Scene+ Visa Card
Excellent entry-level credit card for students
Annual fee: $0
Rewards: Earn up to 2X Scene+ points on everyday purchases.
Welcome offer: Earn 5,000 bonus Scene+ points with $750 spend in the first 3 months.
Interest rates: 19.99% on purchases and 22.99% on cash advances.
Minimum income requirement: $12,000
Recommended credit score:
Good
On Scotiabank’s website
10. RBC Cash Back Mastercard
You can earn unlimited cashback with this card without paying an annual fee. You’ll earn up to 2% on groceries and 1% on other purchases. You can also enjoy fuel savings at Petro-Canada and free delivery at DoorDash for three months.
RBC Cash Back Mastercard
Entry-level RBC cash back card
Annual fee: $0
Rewards: Earn up to 2% cash back on high-spend categories.
Interest rates: 19.99% on purchases and 22.99% on cash advances.
Minimum income requirement: $0
Recommended credit score:
Good
On RBC’s website
11. BMO CashBack Mastercard for Students
This award-winning card has no annual fees, and you can earn up to 3% cash back on groceries. You’ll also earn 1% on recurring bills like streaming services and 0.5% on everything else. It is for students between 18 and 24, and international students can apply.
BMO Cash Back Mastercard
Good entry-level card for students
Annual fee: $0
Rewards: Earn up to 3% cash back on groceries, 1% on subscriptions and utilities, and 0.5% on all other purchases.
Interest rates: 20.99% for purchases, 22.99% for cash advances.
Minimum income requirement: $15,000
Recommended credit score:
Good
On BMO’s website
Why Should Teens Get a Credit Card?
If you are aged 18 or 19, there are some good reasons why you may want to get a credit card.
For a start, a credit card provides you with a way to start building your credit history. Even if you only use it for a few monthly purchases, if you start making your payments on time each month, this can positively impact your credit score.
When you want to apply for other forms of credit in a few years, you will have a longer credit history, which can be beneficial.
In addition to building your credit history, you can use a credit card to get into good financial habits. For example, it’s important to learn about borrowing money and paying back your debts on time, and you can use your credit card to learn about the responsibilities that come with it.
You may also find credit cards that offer attractive rewards and premium perks. For example, you may earn cashback when you make purchases using your credit card, or they may come with discounts and reward points that you can benefit from.
How to Apply for a Credit Card for Teens
If you are 18 or 19 and able to apply for a credit card, the process of applying for a credit card is the same as for anyone else.
Simply choose the card you want to apply for, visit the website, and check the requirements. You may be able to apply online, and during this process, you will usually answer a few questions and submit documents, including your ID.
You may also be able to apply over the phone or in person, but it depends on the card. Some cards may only allow you to apply this way.
If you are applying for a prepaid card, you may or may not need to be the age of majority. Again, you can normally apply online by providing the required information.
Pros and Cons of Credit Cards for Teens in Canada
Pros:
- Start building your credit history from a younger age.
- There are several credit cards for teens to choose from.
- Many credit cards come with attractive rewards and perks.
- Credit cards for teens often have more lenient requirements.
- These cards are often free or have low annual fees.
Cons:
- It may be easy to get into debt when you first start using a credit card.
- Interest rates can be high if you don’t pay off your balance in full.
- The rewards are often not as attractive as those provided by premium credit cards.
How to Choose the Best Credit Card for Teens and Students
If you’ve decided that you want to get a credit card, the first thing I recommend you do is choose the right card to apply for. As you can see from my list above, there are many credit cards available for teens and students in Canada.
Decide whether you would prefer a credit card or a prepaid card. Look over the differences between them and choose the option that works best for you.
Next, consider the requirements. There may be minimum income requirements, but cards aimed at teens are less likely to have these.
When you know you can apply for it, look at the fees. Are there any annual fees? Again, student credit cards are often free. But check out the other fees, too, like FX fees.
The card may come with rewards or premium perks. If so, look over these and choose the card that offers the best rewards for your situation.
For example, if a credit card offers a higher rate of cashback for gas purchases and you buy a lot of gas, this could be a deciding factor.
Don’t forget to look at other factors like interest rates. The APR is different on all cards, and some are higher than others. If you end up carrying a balance, this can have a big impact on the overall cost.
FAQs
You cannot get your own credit card under 18 in Canada, but you could become an authorized user on someone else’s card. You could also apply for a prepaid card.
Yes, there are many credit cards in Canada that are targeted specifically at students. These often have more lenient requirements when it comes to factors like the credit history required.
Some credit card providers may ask about your income when you apply for a credit card, but there is nothing to say you cannot get a credit card. Your credit history is a more important factor.
As long as you are a Canadian resident, you should find that there are options available for international students, like the BMO CashBack Mastercard for Students.
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