Four Credit Cards Designed for Student LifeAugust 10, 2016
As your college or university bound student packs up their things and readies themselves for school in the fall, it’s a great time to sit down and take a look at the different student-friendly credit cards available. While toting plastic comes with great responsibility, it can also serve as a lesson in healthy debt management and the first steps on the road to establishing a good credit history.
Student Credit Cards
At Comparsave, you and your freshman can easily apply online for a student credit card with perks; whether it’s movies, discounts or cash back.
BMO® SPC® CashBack MasterCard®
The low-down: No annual fee and a 19.99 per cent interest rate. Student Price Card (SPC) discounts ranging from 10 to 15 per cent at hundreds of stores, plus CashBack on eligible purchases.
Why it may be the right pick: Not only will students get discounts at hundreds of their favourite stores, but they’ll also get 1.0 per cent CashBack on their purchases. For a limited time, new applicants may qualify to get up to $60 in a CashBack Welcome Bonus.
StudentAwards MBNA Rewards MasterCard® credit card
The low-down: No annual fee and a 19.99 per cent interest rate. Earn one MBNA rewards point for every dollar spent on eligible transactions, and get 1,000 bonus points after the first eligible purchase.
Why it may be the right pick: The MBNA rewards credit card is a well-rounded program. The points can be reimbursed for everything from cash back, charitable donations, retailer gift cards and travel experiences to merchandise. What’s more, students get 1,000 bonus points each year on the anniversary date of the credit card account. That gets an A+ for school spirit.
BMO® SPC® AIR MILES® MasterCard®
The low-down: No annual fee and a 19.99 per cent interest rate. Collect one AIR MILE for every $20 spent, and enjoy Student Price Card (SPC) discounts that range from 10 to 15 per cent at hundreds of stores.
Why it may be the right pick: Combining top tier reward programs AIR MILES and SPC, this credit card is perfect for the freshman lifestyle. Designed with students in mind, cardholders can “double dip” and earn even more AIR MILES by showing their collector card in addition to their credit card, where eligible. For a limited time, new applicants may qualify to get 500 AIR MILES bonus miles.
Specialty Cards for Students
Is your student a movie buff? The following specialty rewards credit card available through ComparaSave.com may pique the interest of your college-bound student.
Scotiabank SCENE® VISA Card
The low-down: No annual fee, 19.99 per cent interest rate, one SCENE point for every dollar spent and five SCENE points for every dollar spent at participating Cineplex theaters or online at Cineplex.com. Redeem for free movies, music and other entertainment rewards.
Why it may be the right pick: With no annual fee and a limited time offer of 4,000 introductory points (that’s four free movies), the SCENE card is a great starter rewards card for the movie buff. But like any rewards card, getting the most bang for your buck falls on not carrying a balance. Not too hard to do when the films pay for themselves, right?
Earn High Marks with Smart Decisions
The first steps of independence as a student can be a challenge. School debt accumulates and the costs associated with being away from home for the first time can add up. But smart decisions – and a little savvy credit card sleuthing – can help students find that perfect first credit card and pave the way to fiscal responsibility. It’s the ComparaSave.com way.