Getting your first credit card is a big deal. Not to mention stressful.

Think of it a powerful tool that needs to be handled responsibly. Welcome to adulting.

Straight talk here: credit cards are not a source of unlimited income. It’s borrowed money - and must be paid in full. Every. Single. Month.

If you don’t? Those hefty interest rates take full effect. And you can be hooked paying off your credit card balance plus interest for years.

Now that we got that out of the way…let’s talk pros.

One of the best times to get a credit card is when you’re a student. Because students are pretty much guaranteed to be approved, it’s a good time to start working on your credit history.

And then there’s these added benefits...

  • Rewards - Earn cash back, travel, or even movie tickets
  • Discounts - Get discounts and save money. For example, Scotiabank Student cards give you discounts on rental cars, making it easier to travel on spring break.
  • Insurance - Free coverage for shopping and travel. Check out our full list of included insurance coverage on each credit card (check the Insurance Coverage tab after clicking Learn More on a card below).

You get all of that for a low (or no) annual fee.

Top 10 Student Credit Card Rankings

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The Globe and Mail