Best Credit Cards In Canada For 2023 Were Revealed & This One Gets Students So Many Perks
The best student credit cards for rewards, gamers, Air Miles and more were also ranked.
Person paying with a credit card at a café. Right: Mastercard credit card.
The best credit cards in Canada for 2023 have been revealed and this new ranking includes the top credit card for students which has so many perks.
In the "2023's Best Credit Cards In Canada" ranking report from Credit Card Genius, more than 100 features of 175 credit cards were analyzed and put through an algorithm to get a rating that determined the award winners.
When it comes to students having credit cards, Credit Card Genius said that responsibly using them can give students a good start at building their credit history.
The ranking's best student credit card in Canada is the BMO CashBack Mastercard for students because it has no annual fee, cash back on every purchase and multiple redemption options.
When you pay by credit card with this one, you get 3% cash back on eligible grocery purchases, 1% on eligible recurring bill payments and 0.5% on all other eligible purchases.
The BMO CashBack Mastercard for students offers an extended warranty of one year and purchase protection of 90 days.
Also, you can choose when you want the cash back to be paid out and the minimum redemption requirement is only $1.
While this is the best overall student card, Credit Card Genius revealed the top credit cards for students in specific categories as well.
The best student credit card for flexible rewards is the Scotiabank Scene Visa Card for students, the best for gamers is the RBC ION Visa, the best for Air Miles is the BMO AIR MILES Mastercard for students and the best rewards prepaid card is the KOHO Easy Mastercard.
Since having a credit card for the first time can be stressful, Credit Card Genius suggested spending within your means, paying off your balance in full and on time, and researching your options.
If you're thinking of getting your first credit card, Canadian money expert and financial counsellor Jessica Moorhouse recently told Narcity that there are common mistakes people make including not screening surcharges and misinterpreting benefits!
This article's cover image was used for illustrative purposes only.
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