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Introduction to Credit Cards for Students
What are Credit Cards for students?
Credit Cards for students are a helpful way for you to borrow money from the bank to pay for purchases whether they are for school, for travelling or simply, for yourself. There are a range of different cards with various benefits, depending on your needs.
- Best TD Cash Back Credit Card for students
The TD Cash Back Visa* Card allows you to earn Cash Back Dollars with every purchase to help pay down your account balance1. - Best TD everyday Rewards Credit Card for students
The TD Rewards Visa* Card earns you extra TD Rewards Points on eligible purchases which you can then redeem, at your convenience, to book your next big trip, to shop at Amazon.ca with Shop with Points and even cash back. - Best TD Credit Card with a low interest rate for students
With the TD Low Rate Visa* Card, you can save on interest at low annual interest rate and low annual fee on all your purchases and cash advance transactions.
How to manage your student Credit Card effectively
When it comes to managing your Credit Card effectively as a student, there are some helpful things you should take into consideration.
- Your Credit Card payments
Your Credit Card monthly statement shows your balance and minimum payment. Paying the entire balance amount on time saves you on interest and is a good way to maintain a high credit score. - Paying your balance
Never spend more than your credit limit and pay the entire balance of your Credit Card bill each month by the payment due date shown on your statement, not just the minimum payment. - Using your credit limit
Just because you have credit, doesn’t mean you should use all of it. It’s borrowed money, after-all. - Maintaining your credit score
Making timely payments builds and maintains your credit score. Missing payments can hurt it.
What are the benefits of using a Credit Card as a student?
From building your credit history and learning money management, to fraud protection and earning rewards, there are many ways a student Credit Card may be beneficial to you.
- Build credit history
By using any student Credit Card responsibly, you build a positive credit history – which may make it easier to qualify for a loan in the future. - Earn rewards or points
With some TD Credit Cards you can earn Cash Back Dollars to put towards your balance. Other TD Credit Cards let you earn points to be redeemed at Amazon.ca with Shop with Points or on other purchases through tdrewards.com. - Learn financial responsibility
By borrowing money and then paying off each month, it helps you develop the lifelong skill of good payment habits.
Choosing the right student Credit Card
There are many things to consider when choosing a student Credit Card.
If want to earn Cash Back Dollars that can be redeemed to help you pay down your account balance, you should consider the TD Cash Back Visa* Card.
Do you want to earn points that you can put towards additional school supplies on Amazon.ca? If so, you can consider the TD Rewards Visa* Card.
Or if you are carrying a balance on your Credit Card with a high interest rate, you could switch to a card with low interest rate and low annual fee like the TD Low Rate Visa* Card and pay less interest on all your purchases.
Choosing the best Credit Card for you as a student is a big deal, so take the time to research each card to figure out the best match for you.
How to apply for a TD Credit Card as a student
Once you’ve researched the various Credit Cards for students and decided which one is best suited for you, you can apply for that card, which is a simple three-step process.
Step 1: Choose your card
Select the student Credit Card that best suits you.
Step 2: Submit your application
Ensure all your information is correct and submit.
Step 3: Get an instant response
See if your application has been accepted or not.
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