After graduate from high school at age of 18, you are considered an adult in many of the provinces, and you should start taking your finances seriously. It might seem oppressing to apply for a credit card, but it’s never too early to start building good credit. If you’re looking to build a credit history, a simple no fee card that offers a great combination of generous rewards and low annual fees is exactly what you need. Here we have compiled few credit cards with their offers and best deals:
1. Tangerine Money-Back Credit Card: Tangerine credit card is one of the best credit cards in Canada when its all-embracing perks and ethos are considered. Unlike other credit cards, the Tangerine Money-Back Credit Card concedes you to attain limitless Money-Back Rewards on everyday purchases. When you deposit cash back earned into a free Tangerine Savings account, you get one extra 2% cash back category for a total of 3. To apply for the Tangerine Money-Back Credit Card you need to be a Canadian citizen or a permanent resident. Be at least 18 years of age, or the age of majority in your province or territory of residence.
Rewards:
You earn 2% cash-back on purchases you make in up to three different categories.
Additional Features:
Unlimited Cash-Back Paid Monthly.
0.50% Cash-Back on Other Purchases.
Low Balance Transfer Rate.
Pros:
Earn cash back on categories of your choosing with no cap.
Automatic reimbursement - Cash back is automatically deposited in your account each month.
Enticing welcome offer - 10% cash back on your purchases for the first two months (up to $100 earned).
Cons:
No travel insuranc.
No extra perks.
Need to be a Canadian citizen or a permanent resident.
2. BMO Cash-Back Master Card: BMO CashBack® Mastercard is multi-faceted. On the cash back rewards side, it earns list of the best no fee card in Canada. Respite from high credit card interest rates on your balance, this card offers a 1.99% rate on balance transfers and is one of the best low interest balance transfer cards in the country. To apply for the BMO Cash-Back MasterCard you need to be a Canadian citizen or a permanent resident. Be at least 18 years of age, or the age of majority in your province or territory of residence. You will also need to provide the following documents and information: Your name, residential status, and contact information.
3. Scotiabank Scene Visa Card: The SCENE Visa Card for students is a nice beginner card and great for assimilating free movies. The card has low qualifying requirements and car rental discounts.
4. PC Financial MasterCard: President’s Choice Financial Mastercards (PC Financial MasterCard) is an excellent way to earn rewards points. Gives cardholders the ability to earn points without an annual fee. There is no minimum annual income requirement. This benefits the borrowers who are new to credit cards or do not have high income to qualify for other cards.
5. BMO Air Miles Mastercard: BMO Air Miles Mastercard offers numerous chance to claim back your rewards. The miles earned on this card can be reclaimed for either Dream Miles which can be put towards free or discounted flights on selected airlines or Air Miles Cash can be redeemed for e-gift cards or discounts at Air Miles partner stores in addition of 95 miles for $10.
6. KOHO Prepaid Visa Card: KOHO Prepaid Visa card is a reloadable card. KOHO is not a bank, they have partnered with Visa and Peoples Trust to grip the funds loaded by the cardholders on their card. A prepaid card does not accumulate debt, but rather uses the money you already have. Anyone in Canada of the age of majority in their province (18-19 years or older). Anyone in Canada of the age of majority in their province (18-19 years or older).
7. Choice Card from American Express: American Express Canada is a primitive credit card that enables you to attain points when you make purchases. Rewards are flexile and the cardholders of American Express can get ingress to few exclusionary fringe benefits. There is no minimum income requirement for this card. Be a Canadian citizen or resident who is at least 18 years old (19 in some provinces). Have a Canadian credit file or credit history.
8. Triangle Master Card: Triangle Mastercard grant cardmembers to earn Canadian Tire Money on qualified purchases. There is income requirement on Triangle Master Card. To be eligible for the Triangle Mastercard, you must be:
A Canadian resident
Currently employed or retired
At least the age of majority in the province or territory where you live
9. TD Rewards Visa Card: TD Rewards Visa Card endeavours return on rewards at no extra fee. The card offers basic insurance to cover purchases and provides fraud protection. There is no minimum income requirement. Be a Canadian citizen or resident who is at least 18 years old (19 in some provinces).
Google Source: Credit Cards for Student in Canada
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