Student credit cards help you build your credit history, which makes you eligible for loans, mortgages, and more in the future. Although it usually has fewer benefits than traditional credit card modalities, on the other hand, it usually has lower rates.

If you are looking for a student credit card, check out this list of the four best options available on the market today.

1. Scotiabank SCENE VISA card

As one of the most modern digital banks, the Scotiabank SCENE VISA card is an option desired by students who want to have an easier time managing their personal finances. This card is a good option for students looking for a no annual fee card and an excellent earn rate. (See also: When Are Annual Fee Credit Cards Worth it?)

There is currently no annual fee for the primary card and no fee for each additional supplementary card. The current preferred annual interest rates for the Account are 19.99% on purchases and 22.99% on cash advances (including balance transfers, Scotia Credit Card Cheques and cash-like transactions).

2. SimplyCash Card from American Express

The Amex SimplyCash card is an excellent credit card for students who want to earn cash back on everyday purchases.

Despite the SimplyCash Card not being marketed as a student credit card, it can be a good choice. The card has no annual fee, and there is no minimum income requirement to be approved if you have a good credit score. Additionally, the earn rate is amazing. New SimplyCashfrom American Express Cardmembers can earn 4% cash back on purchases (up to $200 cash back) for the first six months of Cardmembership. After that, you can earn 1.25% cashback on purchases when your welcome rate ends. The good news is that there is no limit to the amount of cashback you can earn after your welcome rate ends.

3. CIBC Prepaid Visa Card

The CIBC Prepaid Visa Card is a no-fee prepaid card that lets you earn up to 1% cashback on purchase. Simply load the card with funds and start spending anywhere VISA is accepted.

Prepaid cards won’t help you build credit, but they are a good way to learn responsible credit usage. Since you have to load the card with your own money first, you won’t have to worry about spending money you don’t have, preventing credit card debt.

And the CIBC Prepaid Visa Card is one of your best options. It has no fees and offers great rates, so it’s ideal for online shopping and travel.

And even though it’s a prepaid card, you can still earn 1% cashback on domestic and international purchases.

4. Tangerine World Mastercard

Although the Tangerine World Mastercard requires an annual income of $12,000 to qualify, it is still arguably one of Canada’s best student credit cards due to its 2% cash back on up to 3 categories.

The beauty of this card is that you can choose the categories where you earn extra cash back. All other categories earn you 0.5% cash back. Another benefit of this card is that you can redeem your cash back monthly without any minimum balance required. No doubt, this card is also one of the best cash back credit cards in Canada.

In conclusion

You have plenty of options regarding student credit cards in Canada. However, the best one for you will depend on what you want to use it for and your finances. If you don’t want to build up a credit card debt, you might even consider a prepaid card instead.