Best TD Student Credit Cards in Canada in 2022

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by Enoch Omololu

Updated

Advertiser Disclosure

TD Canada Trust offers a selection of four credit cards specifically designed with students in mind.

While all the TD student credit cards on this list are issued under license by Visa, students can also access Mastercard and American Express Student cards at other financial institutions.

Read on to learn about the best TD student credit cards in Canada, including their features, pros, cons, fees, and alternatives.

About TD

The TD Bank Group is one of the largest financial institutions in the world with more than 26 million customers.

It was established in 1855 and offers a wide array of financial products and services including chequing accounts, savings accounts, mortgages, personal loans, investing, insurance, and credit cards.

What is a Student Credit Card?

A student credit card generally takes into consideration that the applicant may have limited income and credit history.

These cards often have low or no annual fees and like regular credit cards, they can help you build credit history since the bank reports your transactions to the credit bureaus.

A student credit card may offer a lower credit limit and in some cases, you may need a co-signer to qualify.

TD Student Credit Cards

The four TD Bank Student credit cards in Canada are:

TD Cash Back Visa Card

  • Annual fee: $0
  • Purchase interest: 19.99%
  • Cash advances: 22.99%

The TD Cash Back Visa Card has no annual fees and is one of TD’s entry-level credit cards for students and newcomers to Canada.

You earn 1% cashback rewards on gas, groceries, and recurring bill payments. There is a maximum annual spending limit of $5,000 for the 1% cash back category spending.

On all other purchases with the card, you earn 0.50% cashback.

Cardholders can redeem their earnings as a statement credit starting at $25 and other benefits of this card include purchase security and extended warranty coverage.

Cons: The 1% cash back rate is limited to a $5,000 spend per year for the three categories.

td cashback visa

TD Rewards Visa Card

  • Annual fee: $0
  • Purchase interest: 19.99%
  • Cash advances: 22.99%

This credit card offers TD Reward Points as follows:

  • 2 TD Rewards Points per $1 spent on grocery, restaurant, and fast food purchases, and recurring bill payments
  • 3 TD Rewards Points per $1 spent on travel purchases via ExpediaForTD.com
  • 1 TD Rewards Point per $1 spent on all other purchases

Cardholders of the TD Rewards Visa Card enjoy a discounted Priority Pass membership, purchase security and extended warranty protection.

You can redeem TD Rewards Points for gift cards, cash back, and merchandise.

Cons: The maximum cashback rate is lower than what is offered by the Tangerine Money-Back Credit card, another no-annual-fee student credit card.

td rewards visa

TD Platinum Travel Visa Card

  • Annual fee: $89
  • Purchase interest: 19.99%
  • Cash advances: 22.99%

The TD Platinum Travel Visa Card offers 3 TD Rewards points per $1 spent on grocery purchases and recurring bill payments; 5 points per $1 on eligible travel via ExpediaForTD.com, and 2 points per $1 on all other purchases.

It also offers travel insurance benefits, a discounted Priority Pass membership, car rental insurance, purchase security, and extended warranty protection.

Cons: A supplementary card costs an extra $35.

Here are some of the best travel credit cards in Canada.

td platinum travel visa

TD Emerald Flex Rate Visa Card

  • Annual fee: $25
  • Purchase interest: 4.50% to 12.75% + TD Prime
  • Cash advances: 4.50% to 12.75% + TD Prime

If you have a great credit score, you may be able to save money on interest fees with the TD Emerald Flex Rate Visa Card.

Its interest rates vary with the prime rate which was 3.20% as of this writing.

Apart from being a low interest credit card, the TD Emerald Flex Rate Visa has little to show in the form of rewards.

Cons: It does not offer cash back rewards on your spending.

td emerald flex rate visa

Alternatives to a TD Student Credit Card

The following student credit cards offer a nice combination of cash back rewards coupled with zero annual fees.

1. Tangerine Money-Back Credit Card

This no-annual-fee Tangerine credit card pays up to 2% cashback on your purchases. Learn more in this review.

Summary

The Tangerine Money-Back Credit Card is one of the best no-annual-fee cash back credit cards in Canada. It offers 2% unlimited cash back on two categories of spending of your choice or three if you have a Tangerine bank account. You also earn 0.50% cash back on all other purchases. New cardholders can take advantage of a 1.95% balance transfer rate in their first 6 months. Lastly, it includes purchase protection and extended warranty insurance.

Tangerine Money-Back Credit Card

4.5
Welcome Bonus

10% cashback

Annual Fee

$0

Regular APR

19.95%

Credit Score

Fair/Good

No annual fee

Up to 2% competitive cashback rate

Unlimited cashback rewards

1.95% promotional balance transfer

Limited insurance benefits

2% rate not available at Costco or Walmart

2. Neo Mastercard

The Neo Mastercard is another student credit card and TD alternative if you don’t want to pay annual fees.

Cardholders earn an average of 5% cash back at thousands of Neo partner retailers and 1% minimum cash back across all purchases, subject to a maximum spend of $5,000 per month.

Learn more in this review.

Summary

The Neo Financial Mastercard (Neo Card) is an excellent cash back rewards credit card with no annual fees. It offers up to 5% cash back when you shop at 7,000+ Neo partner stores and a 1% minimum cash back across all purchases, subject to a $5,000 max. spending each month. There is also a 15% cash back bonus when you make your first purchases at participating partners.

neo secured credit card

Neo Financial Mastercard

4.5
Welcome Bonus

$25 Bonus

Annual Fee

$0

Regular APR

19.99% – 24.99%

Credit Score

Fair/Good

No annual fee

Up to 5% competitive cashback rate

15% first-time cash back bonus at select stores

Includes a virtual Neo Card

No insurance benefits

Monthly fee for higher rewards tiers

3. Scotiabank SCENE Visa Card

The SCENE Visa Card is one of Scotiabank’s student credit cards.

Cardholders earn Scene+ points on everyday purchases and can redeem these points for free movies, travel, food, shopping, gift cards, and more.

Learn more in this review.

Summary

The Scotiabank SCENE Visa Card is a student credit card that is easy to qualify for. It offers 5 Scene+ points per $1 spent at Cineplex theatres or at cineplex.com, and 1 Scene+ point per $1 spent on everyday purchases.

SCENE Visa Card

Scotiabank SCENE Visa Card

4.0
Welcome Bonus

5,000 points

Annual Fee

$0

Regular APR

19.99%

Credit Score

Good/Very Good

No annual fee

Save on car rentals

No insurance benefits

Low cash back earn rate on everyday purchases

4. Simplii Financial Cash Back Visa Card

The Simplii Financial Cash Back Visa Card is well suited to students and newcomers. It has no annual fees and pays 0.50% to 4% cash back depending on what you are paying for.

Learn more in this review.

Summary

The Simplii Financial Cash Back Visa Card is an entry-level cash back credit card if you are looking to earn rewards without paying annual fees. It offers 4% cash back on dining ($5,000 annual spend limit); 1.50% cash back on gas, groceries, drugstore, and recurring bill payments ($15,000 annual spend limit), and 0.50% cash back on everything else.

Simplii Financial Cash Back Visa Credit Card

Simplii Financial Cash Back Visa

4.5
Welcome Bonus

10% cashback

Annual Fee

$0

Regular APR

19.99%

Credit Score

Good/Very Good

No annual fee

Competitive cashback earn rates

9.99% promo purchase interest for 6 months

Limited insurance benefits

Cap on 4% and 1.5% cashback rates

Benefits of a Student Credit Card

A student credit card helps you build credit history so you can access loans and other credit facilities at competitive rates in the future.

If your credit card pays cash back rewards, it means you save a bit of extra cash every time you spend.

Not to be ignored is the insurance coverage offered by a good student credit card.

For example, purchase protection coverage means items you buy are protected against theft, loss, or damage for up to 90 days.

And extended warranty coverage increases the manufacturer’s warranty for up to 1 extra year.

If you use your credit card responsibly, you learn the ropes on how to use and spend money you don’t have and pay it back on time without incurring interest fees.

How To Apply For a Student Credit Card

To be eligible for a student credit card, you must be the age of the majority in your province of residence (i.e. 18 or 19 years old).

Visit the website of the bank using the links provided to complete their online application form.

When applying as a student, you may need to show proof of enrollment in a post-secondary school.

If you are an international student with no credit history or you do not meet minimum income requirements, you can apply for a secured credit card or qualify for banking via a Newcomer program.

Check your credit score for free.

TD Student Credit Card FAQs

What is the credit limit of a TD student credit card?

The credit limit on your TD Canada Trust student credit card is dependent on several factors including your credit score and history. If you are applying for a secured card, your credit limit is equivalent to your security deposit.

What is the best TD credit card for students?

If you are looking for cash back rewards, the best no-annual-fee TD student credit card is the TD Cash Back Visa Card.

What is the best student credit card in Canada?

The Tangerine Money-Back Credit Card is our top choice for the best student credit card.

Related:

Best Credit Offers in July 2022

Earn up to 10% cash back for a limited time ($100 bonus)

One of the best no-fee credit cards in Canada.

Get 2% unlimited cash back on up to 3 purchase categories.

Get 0.5% unlimited cash back on all other purchases.

Get 10% bonus cash back in first 2 months ($100 value).

1.95% balance transfer offer for 6 months.

Get up to 10% cashback and grow your savings ($20 bonus)

Free prepaid reloadable Mastercard (use referral code CASHBACK during signup for $20 free).

Access to a portion of your paycheque 3 days early.

Free budgeting app with automatic savings features.

1.20% savings interest on every dollar balance.*

Compare the best personal loan rates in Canada

Get the best rates from multiple lenders.

Borrow up to $50,000 regardless of your credit score.

Pre-approvals are available in as fast as 5 minutes.

Low-interest rates start at 1.99% and terms from 4-60 months.

The NeoCard pays up to 5% cash back at select retailers

Get a $25 bonus when you apply for the Card.

Up to 5% cash back at participating stores.

No annual account fees and 1% minimum cash back guaranteed.

Guaranteed instant approval credit card.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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  • 10% cashback on $1,000 spent in first 2 months ($100 value).*
  • Earn 2% unlimited cashback in 2 categories and 0.50% back on everything else.
  • No annual fees!
*Limited time offer. Terms and conditions apply.
Best No Annual Fee Cash Back Credit Card
Best No Annual Fee Cash Back Card
Get 10% cashback on up to $1,000 spent in first 2 months ($100 value).* No annual fees!
*Limited time offer. Terms and conditions apply.
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