The top graduate credit cards come with lower rates, higher credit limits and rewards to supercharge your future plans.
Congratulations, today is your day. You're off to great places. You're off and away. Dr. Seuss had a way with words, and in 2020, his estate earned $33 million before taxes1, so maybe he was good with money, too.
Finding a great student card doesn't have to be tricky. Check out some of or top picks for best student credit card (and once you graduate, check out our Best Credit Cards Canada list).
Top 3 new grad credit cards
CIBC Dividend® Visa Infinite* Card
Get a first-year annual fee rebate for you and up to three Authorized Users† and earn 10% cash back for the first 4 statements on net purchases of up to $2,000†.
$120 Annual Fee
Good Recommended Credit Score
$60,000 Required Annual Personal Income
American Express Cobalt® Card
Earn up to 15,000 Welcome Bonus Membership Rewards® points* – that’s up to $150 in value.
$155.88 Annual Fee
Fair Recommended Credit Score
$0 Required Annual Personal Income
Scotiabank Momentum® Visa* Card
Get a 2.99% introductory interest rate on purchases and balance transfers for the first 6 months.
$39 Annual Fee
Fair Recommended Credit Score
Why recent grads should consider a new credit card
For new graduates, recent graduates or even if you're heading to post-grad, 51% of Canadian students with Bachelor's degrees, according to Statistics Canada, are in debt. Of those surveyed, 48% of students owe over $25,000, with the average debt at graduation being $30,600 from government and non-government sources2 (like credit cards).
Fortunately, 46% of graduates had non-government debt paid off at the time of the interview (I assume for their first job after graduation).
But how?
One effective strategy to manage high interest debt is to consider a balance transfer credit card. This type of card allows you to transfer your existing debt to it, often at a low interest rate, sometimes even 0% for 6-12 months, depending on the card you choose. This can help you save on interest and pay off your debt faster.
Then, there are those of you who aren't in debt, have landed a prestigious job, are looking to climb the ladder of financial stability and enjoy the perks that come with it.
You are no longer beholden to your University credit card, which may not be rewarding your new-grad level of creditworthiness.
For that, we've assembled a list of the best credit cards for grad students and new grads.
Best credit card for new grads: Cash back
10% back†
Welcome Bonus
$758
First Year Value
$558
Annual Value
Welcome Bonus: Earn 10% cash back for the first 4 statements on net purchases of up to $2,000†.
Get this card if you...
-
want high cash back rates on groceries, gas and recurring bills
-
value comprehensive insurance benefits
-
value a great welcome offer
Annual Fee & Annual Interest Rates
$120
Annual Fee
20.99%†
Purchase
22.99%†
Cash Advance
22.99%†
Balance Transfer
-
Our Take
The CIBC Dividend® Visa Infinite* Card is a cash back credit card offering elevated earn rates on categories such as groceries, gas, transportation, dining, and recurring payments. Cardholders benefit from features like purchase security, extended protection, and optional insurance coverages. It's a good option for those seeking to maximize cash back on everyday spending.
CIBC Dividend® Visa Infinite* Card ReviewEligibility
Good (620 - 670)
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
-
Pros
-
First-year annual fee rebate†
-
10% cash back welcome bonus up to $2,000† spend
-
4% cash back on gas, electric vehicle charging and grocery stores
-
2% cash back on transportation, dining and recurring payments
-
High annual spending cap on benefits ($20,000 in bonus categories or $80,000 total)
Cons
-
High income requirement
-
Sparse travel insurance offering
-
-
Annual Interest Rates
20.99%†
Purchase
22.99%†
Cash Advance
22.99%†
Balance Transfer
25.99%†
Penalty
Fees
$120
Annual Fee
$2.5
Foreign Transaction
$29
Over The Limit Penalty
$42.5
Return Penalty
-
Rewards cash back
4%
cash back on eligible gas, EV charging, and grocery purchases.†
2%
cash back on eligible transportation, dining purchases and recurring payments†
1%
cash back on all other purchases†
10 cents
save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
Insurance Benefits
$1,000
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
-
Get a first-year annual fee rebate for you and up to three Authorized Users† and earn 10% cash back for the first 4 statements on net purchases of up to $2,000†.
Our Take
The CIBC Dividend® Visa Infinite* Card is a cash back credit card offering elevated earn rates on categories such as groceries, gas, transportation, dining, and recurring payments. Cardholders benefit from features like purchase security, extended protection, and optional insurance coverages. It's a good option for those seeking to maximize cash back on everyday spending.
CIBC Dividend® Visa Infinite* Card ReviewEligibility
Good (620 - 670)
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Pros
-
First-year annual fee rebate†
-
10% cash back welcome bonus up to $2,000† spend
-
4% cash back on gas, electric vehicle charging and grocery stores
-
2% cash back on transportation, dining and recurring payments
-
High annual spending cap on benefits ($20,000 in bonus categories or $80,000 total)
Cons
-
High income requirement
-
Sparse travel insurance offering
Annual Interest Rates
20.99%†
Purchase
22.99%†
Cash Advance
22.99%†
Balance Transfer
25.99%†
Penalty
Fees
$120
Annual Fee
$2.5
Foreign Transaction
$29
Over The Limit Penalty
$42.5
Return Penalty
Rewards cash back
4%
cash back on eligible gas, EV charging, and grocery purchases.†
2%
cash back on eligible transportation, dining purchases and recurring payments†
1%
cash back on all other purchases†
10 cents
save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
Insurance Benefits
$1,000
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
Get a first-year annual fee rebate for you and up to three Authorized Users† and earn 10% cash back for the first 4 statements on net purchases of up to $2,000†.
If you were using Money.ca’s pick for best student credit card, the BMO Cash Back for students, you may get automatically updated to the non-student version, essentially the same credit card. Unfortunately, you can’t capitalize on its promotional balance transfer offer, nor can you simply transfer the balance to the “adult” version of the card.
So, switching to the best cash back credit card in Canada, the CIBC Dividend Visa Infinite has a $120 annual fee.
To qualify, you’ll need to make at least $60,000 and have a “Good” credit score of at least 660.
Read more: Best credit cards for good credit scores
With the CIBC Dividend Visa Infinite, the cap on your grocery spending is $20,000, meaning you’ll continue to earn cash back far more than BMO’s limit per statement cycle period.
Like BMO, you can redeem your cash back any time, so long as you have a minimum of $25 available. BMO allows you to deposit money into your BMO InvestorLine account or your BMO Chequing and Savings account, whereas CIBC issues a statement credit. With CIBC, you can also request cashback be paid out only once a year (as an adult with two kids, I’ll say post-Christmas may be ideal, but you do you).
Is it worth the $120 annual fee? Let’s do some cash back credit card math.
| Dollar values (for estimation purposes only) | BMO Student Cash Back Mastercard | CIBC Dividend® Visa Infinite* Card |
|---|---|---|
| Annual fee | $0 | $120 |
| Annual grocery spend: $6,000 | At 3%: $180 | At 4%: $240 |
| Recurring bills, streaming services, subscriptions and utilities: $1,200 | At 1%: $12 | At 2%: $24 |
| Gas or EV charging spend: $2,400 | At 0.5%: $12 | At Earn 4% cash back on eligible gas, EV charging, and grocery purchases†%: $48 |
| Transportation (e.g. rideshare, transit): $1,000 | At 0.5%: $5 | At 2%: $20 |
| Dining (eats & drinks): $1,800 | At 0.5%: $9 | At 2%: $36 |
| All other purchases: $12,000 | At 0.5%: $60 | At 1%: $120 |
| Total cash back earned | $278 | $488 |
| Less annual fee | $0 | $120 |
| Is it worth it? | $278 | $368 |
- †Terms and Conditions Apply. This offer is not available for the residents of Quebec.
- The information for the CIBC Dividend® Visa Infinite* Card has been collected independently by Money.ca. The card details on this page have not been reviewed or provided by the card issuer.
Other cash back credit cards for recent grads we love
BMO CashBack® World Elite®* Mastercard®*
$120 Annual Fee
Excellent Recommended Credit Score
$80,000 Required Annual Personal Income
Scotiabank Momentum® Visa Infinite*
$120 Annual Fee
Excellent Recommended Credit Score
$60,000 Required Annual Personal Income
CIBC Dividend® Visa Infinite* Card
$120 Annual Fee
Good Recommended Credit Score
$60,000 Required Annual Personal Income
Best credit card for new grads: Travel
up to 15k pts
Welcome Bonus
$679.02
First Year Value
$529.02
Annual Value
Welcome Bonus: Earn up to 15,000 Membership Rewards® points* by earning 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 on your Card in your first year as a new Cardmember. This could add up to 15,000 points in a year.*
Get this card if you...
-
quickly rack up rewards on dining and grocery purchases
-
want a flexible rewards program with travel rewards
-
want access to exclusive events and robust travel insurance
Annual Fee & Annual Interest Rates
$155.88
Annual Fee
21.99%
Purchase
21.99%
Cash Advance
-
Our Take
The American Express Cobalt® Card is a versatile rewards credit card designed for individuals who frequently spend on dining, groceries and travel-related expenses. It offers flexible redemption options and includes various travel and purchase protections, making it a comprehensive choice for those seeking to maximize rewards on everyday spending.
American Express Cobalt® Card ReviewEligibility
Fair (300 - 619)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
-
Pros
-
High earn rates (up to 5% return on spending!)
-
Flexible month-by-month fee structure
-
Free supplementary cards
-
1:1 points transfer with selected hotels, airlines and frequent flyer programs
Cons
-
Accelerated earn rates only apply to purchases in Canada (not to purchases made abroad)
-
Amex has a more limited merchant acceptance rate than Visa and Mastercard
-
Slightly higher than average annual fee
-
-
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
28.99%
Penalty
Fees
$155.88
Annual Fee
$2.5
Foreign Transaction
$2.75
Cash Advance
$29
Over The Limit Penalty
$45
Return Penalty
-
Rewards Membership Rewards
5x
the points on eligible eats & drinks purchases in Canada
3x
the points on eligible streaming subscriptions in Canada
2x
the points on eligible gas, transit & ride share in Canada
1x
the points on everything else
1
additional Membership Rewards point for every $1 you charge on eligible hotel or car rental bookings made with American Express Travel
$100 USD
Get up to $100 USD hotel credit to use on amenities like dining, spa or other leisure facilities when charged to the room
Insurance Benefits
$1,000
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$250,000
Travel accident insurance amount
$500
Hotel burglary insurance
$85,000
Rental car insurance amount
-
Earn up to 15,000 Membership Rewards® points* by earning 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 on your Card in your first year as a new Cardmember. This could add up to 15,000 points in a year.*
That’s up to $150 towards your next weekend getaway.
*Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
Our Take
The American Express Cobalt® Card is a versatile rewards credit card designed for individuals who frequently spend on dining, groceries and travel-related expenses. It offers flexible redemption options and includes various travel and purchase protections, making it a comprehensive choice for those seeking to maximize rewards on everyday spending.
American Express Cobalt® Card ReviewEligibility
Fair (300 - 619)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
-
High earn rates (up to 5% return on spending!)
-
Flexible month-by-month fee structure
-
Free supplementary cards
-
1:1 points transfer with selected hotels, airlines and frequent flyer programs
Cons
-
Accelerated earn rates only apply to purchases in Canada (not to purchases made abroad)
-
Amex has a more limited merchant acceptance rate than Visa and Mastercard
-
Slightly higher than average annual fee
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
28.99%
Penalty
Fees
$155.88
Annual Fee
$2.5
Foreign Transaction
$2.75
Cash Advance
$29
Over The Limit Penalty
$45
Return Penalty
Rewards Membership Rewards
5x
the points on eligible eats & drinks purchases in Canada
3x
the points on eligible streaming subscriptions in Canada
2x
the points on eligible gas, transit & ride share in Canada
1x
the points on everything else
1
additional Membership Rewards point for every $1 you charge on eligible hotel or car rental bookings made with American Express Travel
$100 USD
Get up to $100 USD hotel credit to use on amenities like dining, spa or other leisure facilities when charged to the room
Insurance Benefits
$1,000
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$250,000
Travel accident insurance amount
$500
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to 15,000 Membership Rewards® points* by earning 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 on your Card in your first year as a new Cardmember. This could add up to 15,000 points in a year.*
That’s up to $150 towards your next weekend getaway.
*Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
The tricky thing with the Cobalt is that people assume Amex isn’t accepted everywhere. However, that narrative changed after Amex launched its “Shop small” campaign to support small businesses.
Read more: Where is Amex accepted in Canada
Beyond being the winner of the best credit card in Canada for 2024, the Cobalt is loved for its high earning rate on food and drinks in Canada, including groceries and food delivery. You’ll also earn better than average rates on subscriptions (e.g., Netflix, Spotify), rideshares, transit and gas. It’s sure to fit your new grad lifestyle.
And all those reward points can be redeemed for great rewards.
American Express Membership Rewards points transfer 1:1 with Aeroplan, British Airways, and Hilton. You can also transfer them to Marriott Bonvoy, Asia Miles and Air France. As well, you can book directly with Amex travel online.
A colleague at work uses her points to redeem for statement credits whenever she wants a coffee but doesn’t feel right about spending the money that day.
While its annual fee is higher, it is divided into monthly payments, making it much more digestible. If you love this card but don’t have the income qualifications, don’t worry—with Amex, there are no income requirements.
Contact American Express for the most up-to-date referral bonus figures.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
Best credit card for 22-year-olds
2.99% intro rate
Welcome Bonus
$303
First Year Value
$0
Annual Value
Welcome Bonus: 2.99% introductory interest rate on purchases and balance transfers for the first 6 months
Get this card if you...
-
want to earn cash back on everyday purchases
-
don't mind paying a modest annual fee
-
value extended warranty and purchase protection
Annual Fee & Annual Interest Rates
$39
Annual Fee
19.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
-
Our Take
The Scotiabank Momentum® Visa* Card is a cash back credit card offering cash back on eligible gas station, grocery store, drug store purchases, and recurring bill payments and other eligible purchases. Cardholders benefit from purchase security and extended warranty protection, as well as discounts on car rentals at participating AVIS and Budget locations in Canada and the U.S.; however, the card carries an annual fee, and cash back is awarded only once per year as a statement credit, which may not suit those preferring more frequent redemption options.
Scotiabank Momentum® Visa* Card ReviewEligibility
Fair (300 - 619)
Recommended Credit Score
-
Pros
-
Cash back rewards: Earn 2% cash back on gas, groceries, drug stores, and recurring bill payments, and 1% on all other eligible purchases.
-
Annual cap benefits: The 2% cash back applies up to $25,000 spent annually in key categories, allowing for substantial rewards accumulation.
-
Purchase security and extended warranty: Offers protection for new purchases against theft, loss, or damage and extends the manufacturer's warranty.
-
Supplementary cards available: Although there's a fee, additional cards can be useful for shared expenses.
Cons
-
Annual fee: The card has an annual fee of $39.
-
High interest rate: The card has a high interest rate of 19.99% on purchases and 22.99% on cash advances.
-
Limited rewards categories: The card’s rewards categories are limited to groceries, gas, and recurring bill payments.
-
Rewards paid out annually: Cash back rewards are paid out annually as a statement credit.
-
$25,000 annual cap for 2% cash back: The 2% cash back rate applies up to the first $25,000 spent annually on gas station, grocery store and drugstore purchases, and on recurring payments.
-
-
Annual Interest Rates
19.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
2.99%
Purchase (Introductory)
2.99%
Balance Transfer (Introductory)
Fees
$39
Annual Fee
$2.5
Foreign Transaction
$5
Cash Advance
$29
Over The Limit Penalty
-
Rewards cash back
2%
cash back for every $1 you spend on all eligible gas stations, grocery store, drug store purchases and recurring bill payments.
1%
cash back on all other eligible purchases.
25%
savings off base rates at participating AVIS locations and at participating Budget locations in North America.
90
days of purchase security on most items purchased with your card.
1
extra year on top of manufacturer's warranty.
-
Get a 2.99% introductory interest rate on purchases and balance transfers for the first 6 months (19.99% on purchases/22.99% on cash advances including balance transfers after that).
Our Take
The Scotiabank Momentum® Visa* Card is a cash back credit card offering cash back on eligible gas station, grocery store, drug store purchases, and recurring bill payments and other eligible purchases. Cardholders benefit from purchase security and extended warranty protection, as well as discounts on car rentals at participating AVIS and Budget locations in Canada and the U.S.; however, the card carries an annual fee, and cash back is awarded only once per year as a statement credit, which may not suit those preferring more frequent redemption options.
Scotiabank Momentum® Visa* Card ReviewEligibility
Fair (300 - 619)
Recommended Credit Score
Pros
-
Cash back rewards: Earn 2% cash back on gas, groceries, drug stores, and recurring bill payments, and 1% on all other eligible purchases.
-
Annual cap benefits: The 2% cash back applies up to $25,000 spent annually in key categories, allowing for substantial rewards accumulation.
-
Purchase security and extended warranty: Offers protection for new purchases against theft, loss, or damage and extends the manufacturer's warranty.
-
Supplementary cards available: Although there's a fee, additional cards can be useful for shared expenses.
Cons
-
Annual fee: The card has an annual fee of $39.
-
High interest rate: The card has a high interest rate of 19.99% on purchases and 22.99% on cash advances.
-
Limited rewards categories: The card’s rewards categories are limited to groceries, gas, and recurring bill payments.
-
Rewards paid out annually: Cash back rewards are paid out annually as a statement credit.
-
$25,000 annual cap for 2% cash back: The 2% cash back rate applies up to the first $25,000 spent annually on gas station, grocery store and drugstore purchases, and on recurring payments.
Annual Interest Rates
19.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
2.99%
Purchase (Introductory)
2.99%
Balance Transfer (Introductory)
Fees
$39
Annual Fee
$2.5
Foreign Transaction
$5
Cash Advance
$29
Over The Limit Penalty
Rewards cash back
2%
cash back for every $1 you spend on all eligible gas stations, grocery store, drug store purchases and recurring bill payments.
1%
cash back on all other eligible purchases.
25%
savings off base rates at participating AVIS locations and at participating Budget locations in North America.
90
days of purchase security on most items purchased with your card.
1
extra year on top of manufacturer's warranty.
Get a 2.99% introductory interest rate on purchases and balance transfers for the first 6 months (19.99% on purchases/22.99% on cash advances including balance transfers after that).
A cash-back card that gives you a decent rewards rate on everyday purchases like gas, groceries, drugstores and recurring bills and a low annual fee of $39 is a sweet credit card now that you’ve graduated. The bonus is they also have a balance transfer offer, which is another nice perk: for the first 6 months
Conditions Apply. Visit here for the Scotiabank Momentum® Visa* Card to learn more. *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Best credit card for grad students who want to be smarter about money
$108
First Year Value
$0
Annual Value
Get this card if you...
-
want to avoid paying any foreign transaction fees
-
want to earn cash back on a prepaid card
-
have a fair credit score
Annual Fee & Annual Interest Rates
$0
Annual Fee
-
Our Take
The EQ Bank Card is a prepaid Mastercard that offers Canadian users cash back on all purchases and reimburses fees for domestic ATM withdrawals. It also provides free withdrawals from any ATM in Canada, with EQ Bank reimbursing any fees incurred. Additionally, the card does not charge foreign exchange fees, making it a cost-effective option for international transactions, however, users should be aware that ATM fees charged abroad are not reimbursed.
EQ Bank Card ReviewEligibility
Fair (300 - 619)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
-
Pros
-
No FX fees (up to 2.5%)
-
Earn 0.5% cash back on every purchase
-
Free ATM withdrawals in Canada (EQ will reimburse you)
Cons
-
ATM fees charged abroad (EQ will not reimburse)
-
-
Fees
$0
Annual Fee
$0
Foreign Transaction
-
Rewards cash back
0.5%
Cash back on purchases
1.75%
Interest on your balance
Our Take
The EQ Bank Card is a prepaid Mastercard that offers Canadian users cash back on all purchases and reimburses fees for domestic ATM withdrawals. It also provides free withdrawals from any ATM in Canada, with EQ Bank reimbursing any fees incurred. Additionally, the card does not charge foreign exchange fees, making it a cost-effective option for international transactions, however, users should be aware that ATM fees charged abroad are not reimbursed.
EQ Bank Card ReviewEligibility
Fair (300 - 619)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
-
No FX fees (up to 2.5%)
-
Earn 0.5% cash back on every purchase
-
Free ATM withdrawals in Canada (EQ will reimburse you)
Cons
-
ATM fees charged abroad (EQ will not reimburse)
Fees
$0
Annual Fee
$0
Foreign Transaction
Rewards cash back
0.5%
Cash back on purchases
1.75%
Interest on your balance
If you're looking for the best credit card post-graduation but still don't have the income qualifier most premium credit cards want to see, we figure the smart choice is the EQ Bank card.
It's a prepaid Mastercard, so you're not building credit, but the card has no fees and earns 0.5% cash back on all purchases. They'll reimburse you for any ATM withdrawals you make with the card.
While you must switch banks, EQ Bank is incredible for its customer service and high interest rates. You'll earn 2.5% cash back on your balance and an additional 1.5% if you direct deposit your pay.
Read more: Best robo advisors in Canada
Best credit card for grad students who want to pay off their student credit card debt
0% intro rate
Welcome Bonus
$0
First Year Value
$0
Annual Value
Welcome Bonus: Get 0% APR for 12 months on transfers
Get this card if you...
-
want a low interest rate with no annual fee
-
value extended warranty and purchase protection
-
want to pay down existing credit card debt
Annual Fee & Annual Interest Rates
$0
Annual Fee
12.99%
Purchase
24.99%
Cash Advance
17.99%
Balance Transfer
-
Our Take
The MBNA True Line® Mastercard® is a no-annual-fee credit card designed for individuals seeking a low-interest option for managing their finances. It offers a competitive interest rate on purchases and balance transfers, along with benefits such as fraud protection and discounts on car rentals.
MBNA True Line® Mastercard® ReviewEligibility
Good (620 - 670)
Recommended Credit Score
-
Pros
-
Solid welcome offer: 12 months of 0% APR† on balance transfers✪ made within the first 90 days (3% transfer fee applies)
-
No annual fee or minimum income requirement
-
Low standard interest rate of 12.99% for all new purchases charged to the card
-
Some extra perks like fraud protection and a discount on car rentals
Cons
-
3% balance transfer fee is comparatively high
-
Very high cash advance interest rate of 24.99%
-
No insurance benefits
-
Can’t transfer a balance owed to either MBNA or TD
-
-
Annual Interest Rates
12.99%
Purchase
24.99%
Cash Advance
17.99%
Balance Transfer
0.00%
Balance Transfer (Introductory)
Fees
$0
Annual Fee
$2.5
Foreign Transaction
3.00%
Balance Transfer
-
Rewards
0%
Promotional annual interest rate† (a 3% transfer fee applies) for 12 months on any balance transfer✪ completed within 90 days of opening the account.
100%
This card is made from 100% recycled plastic
Our Take
The MBNA True Line® Mastercard® is a no-annual-fee credit card designed for individuals seeking a low-interest option for managing their finances. It offers a competitive interest rate on purchases and balance transfers, along with benefits such as fraud protection and discounts on car rentals.
MBNA True Line® Mastercard® ReviewEligibility
Good (620 - 670)
Recommended Credit Score
Pros
-
Solid welcome offer: 12 months of 0% APR† on balance transfers✪ made within the first 90 days (3% transfer fee applies)
-
No annual fee or minimum income requirement
-
Low standard interest rate of 12.99% for all new purchases charged to the card
-
Some extra perks like fraud protection and a discount on car rentals
Cons
-
3% balance transfer fee is comparatively high
-
Very high cash advance interest rate of 24.99%
-
No insurance benefits
-
Can’t transfer a balance owed to either MBNA or TD
Annual Interest Rates
12.99%
Purchase
24.99%
Cash Advance
17.99%
Balance Transfer
0.00%
Balance Transfer (Introductory)
Fees
$0
Annual Fee
$2.5
Foreign Transaction
3.00%
Balance Transfer
Rewards
0%
Promotional annual interest rate† (a 3% transfer fee applies) for 12 months on any balance transfer✪ completed within 90 days of opening the account.
100%
This card is made from 100% recycled plastic
Get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer fee. You can’t beat that balance transfer offer and especially not with a card with a $0 annual fee. While you’ll have to pay a balance transfer fee of 3% of the balance transferred, it’s small relative to the amount you’ll save if you can’t seem to get ahead of your student debt.
Let’s say you owe $4,000. You’ll pay $120 to transfer your existing balance to MBNA and then pay $333.33 per month for the next 12 months, and your balance will be gone. Say hello to being debt-free (at least for your credit card).
†, ✪, Terms and Conditions apply.
This offer is not available for residents of Quebec. For residents of Quebec, please click here.
Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.
The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.
Scotiabank Value® Visa* Card
$29 Annual Fee
Fair Recommended Credit Score
$12,000 Required Annual Personal Income
CIBC Select Visa* Card
$29 Annual Fee
Good Recommended Credit Score
MBNA True Line® Mastercard®
$0 Annual Fee
Good Recommended Credit Score
Best credit card for recent college graduates with no credit
$153
First Year Value
$0
Annual Value
Get this card if you...
-
have a low credit score
-
want to improve your credit score
-
want to earn cash back on everyday purchases
Annual Fee & Annual Interest Rates
$59
Annual Fee
19.99% - 29.99%
Purchase
22.99% - 31.99%
Cash Advance
-
Our Take
The Neo Secured Mastercard is a secured credit card designed to help individuals build or rebuild their credit history. It offers cash back rewards on purchases, with earn rates that increase based on the balance maintained in a linked Neo Everyday account.
Neo Secured Mastercard ReviewEligibility
Poor (up to 299)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
-
Pros
-
Low minimum security deposit
-
Cash back rewards on purchases
-
No hard credit check
Cons
-
High APR range
-
$5 monthly fee
-
Best cash back offer requires high balance
-
-
Annual Interest Rates
19.99% - 29.99%
Purchase
22.99% - 31.99%
Cash Advance
Fees
$59
Annual Fee
-
Rewards cash back
Up to 4%
Earn up to 4% on gas and groceries
up to 1%
Earn up to 1% on everything else
$680
Earn up to $680 in annual cashback
Our Take
The Neo Secured Mastercard is a secured credit card designed to help individuals build or rebuild their credit history. It offers cash back rewards on purchases, with earn rates that increase based on the balance maintained in a linked Neo Everyday account.
Neo Secured Mastercard ReviewEligibility
Poor (up to 299)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
-
Low minimum security deposit
-
Cash back rewards on purchases
-
No hard credit check
Cons
-
High APR range
-
$5 monthly fee
-
Best cash back offer requires high balance
Annual Interest Rates
19.99% - 29.99%
Purchase
22.99% - 31.99%
Cash Advance
Fees
$59
Annual Fee
Rewards cash back
Up to 4%
Earn up to 4% on gas and groceries
up to 1%
Earn up to 1% on everything else
$680
Earn up to $680 in annual cashback
A secured card helps you build credit. The Secured Neo Mastercard earns cash back on gas and groceries, streaming ridesharing and food delivery services. In its app, Neo educates you about money and help you manage your money, too.
Neo Secured credit card is issued by Neo Financial™ pursuant to license by Mastercard International Incorporated.
Conclusion
It’s time to dump your university credit card and step up into the rewards game. Make your friends jealous, whether you’re jet-setting around the world, earning points at restaurants, or paying off your student debt faster.
FAQs
Tyler Wade has worked in personal finance for over 5 years writing for brands like Ratehub, Forbes, KOHO, and now Money.ca.
Investing Basics
Investing Basics
Best credit card guides
Latest Articles
Disclaimer
The content provided on Money.ca is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.
†Terms and Conditions apply.