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.
What is a Student Credit Card?
A student credit card generally considers 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.
Best TD Student Credit Cards for 2024
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 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 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 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.
Alternatives to a TD Student Credit Card
The following student credit cards offer a nice combination of cash back rewards and 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
10% cashback
$0
19.95%
Fair/Good
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 12,000+ Neo partner stores and a 0.50% 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 Financial Mastercard
$25 Bonus
$0
19.99% – 24.99%
Fair/Good
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.
Scotiabank SCENE Visa Card
5,000 points
$0
19.99%
Good/Very Good
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 want 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
10% cashback
$0
19.99%
Good/Very Good
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 bank website 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.
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 various financial products and services, including chequing accounts, savings accounts, mortgages, personal loans, investing, insurance, and credit cards.
TD Student Credit Card FAQs
The credit limit on your TD Canada Trust student credit card depends 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.
If you want cash back rewards, the best no-annual-fee TD student credit card is the TD Cash Back Visa Card.
The Tangerine Money-Back Credit Card is our top choice for the best student credit card.
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