4 Best Scotiabank Student Credit Cards In Canada (Feb 2023)

January 15, 2023
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There are quite a few good Scotiabank student credit cards in Canada, but some stand out above the rest for their impressive rates, high points earn rates and zero annual fees. I constantly keep up with the latest options and policy changes and make my recommendations below based on my years of experience.

The Scotiabank Scene+ Visa Card for Students is an excellent credit card option if you're a student looking to start building your credit history. This credit card comes with the option to upgrade to a regular credit card after you graduate, and offers an excellent welcome bonus, discounts on car rentals, and interest-free grace periods.

What Is A Scotiabank Student Credit Card?

Scotiabank Student Credit Cards are a type of credit card designed for students. With these credit cards, students can earn rewards and start building a credit history without paying annual fees – and there are no credit score or minimum income requirements. Some of the perks and benefits include car rental discounts and generous welcome bonuses.  

Getting a student credit card can be very beneficial for college students looking to take their first steps into the credit card world and start building a solid credit score. Additionally, most of these credit cards offer the option to upgrade to a standard credit card, which may come with a higher annual fee, but more than makes up for it with improved earning rates and benefits.

The Best Scotiabank Student Credit Cards In Canada

1. Scotiabank Scene+ Visa Card For Students – Best Overall

Pros

  • Flexible redemption options for banking, dining, travel, and more
  • No annual fee for primary and additional cards
  • Save up to 25% discount from Avis and Budget car rentals
  • Generous welcome bonus on the first purchases
  • Get an interest-free grace period on purchases

Cons

  • No complimentary insurance coverage protection
  • Low earning points for only 1 point on all daily purchases 

2. Scotiabank American Express Card – Best For No Foreign Transactions

Pros

  • Earn up to 3 points from eligible purchases
  • The generous welcome bonus (up to 12,000 Scene+ points)
  • New Mobile Device Insurance and Purchase Security & Warranty Protection
  • Get up to 25% car rental discount from Avis and Budget participating branches
  • No foreign transaction fees

Cons

  • Less insurance coverage than other credit cards
  • Low earning points for only 1 point on all everyday purchases 

3. Scotia Momentum No-Fee Visa Card – Best For Balance Transfers

Pros

  • No annual fee
  • 0% introductory interest rate on balance transfers in the first six months
  • Earn up to 5% cash back in the first three months (only for card membership made until October 31, 2022)
  • Get up to 25% discounts from Avis and Budget car rentals
  • Earn at least 1% cashback from other eligible purchases

Cons

  • No exclusive perks and fewer benefits
  • No complimentary insurance coverage protection

4. Scotiabank L'earn Visa Card – Best For International Students

Pros

  • No annual fee 
  • Get up to 20% car rental discount from Avis participating branches
  • Convenient access to Scotia Credit Card Cheques & Instant Cash Advances
  • Chances to win promos ($30,000 prizes until January 31, 2023, only)
  • No credit history needed

Cons

  • No complimentary insurance coverage protection
  • Low cash back earn rate

Why Get A Scotiabank Student Credit Card?

You should get a Scotiabank Student credit card if you're a student and want to earn reward points or cashback from purchases. It may not offers as many benefits as standard credit cards, but it's a great way to start building your credit to qualify for a premium credit card. Scotiabank student credit cards offer benefits like car rental discounts and generous welcome bonuses and don't require a minimum income to apply. 

Rewards To Look For In A Scotiabank Student Credit Card

Scotiabank Student Credit Card carries amazing rewards offered to its cardholders. Here are some of the rewards you can get:

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  • $1 spent can earn up to 3 points or up to 1.5% cashback
  • Redeem rewards from the Scene+ program for travel, groceries, retail, dining, and more
  • Earn decent welcome bonus points

Types Of Scotiabank Student Credit Cards in Canada

#1 Cash Back Credit Cards

One of the Scotiabank Student Credit Cards types is the cashback type. Like other cashback cards, it provides specific money back for every eligible purchase charge on the card. One of the best examples is the Scotiabank L'earn Visa Card.

#2 Rewards Credit Cards

The Scotiabank Student Credit Cards also offer rewards. It works by earning points from eligible purchases. You can then redeem your points for rewards. Scotiabank's rewards program is called the Scene+, which offers various rewards options for travel, groceries, banking, and more. 

How To Choose A Scotiabank Student Credit Cards In Canada

Welcome Bonus

One of the early benefits of the Scotiabank Student Credit Card is the welcome bonuses. These are commonly posted on their website or during your signing up. However, some offers require a specific purchase amount to qualify for the bonus. 

Earn Rate

The earning rate of credit cards is an essential feature you must consider. The Scotiabank Student Credit Card earning rate is lower than other credit cards. Whether it makes cash back or points, ensure a valuable rate that fits your needs. 

Annual fee

Student or not, some Scotiabank credit cards can qualify you as long as you pass the criteria. Take note that student credit cards don’t usually have annual fees. It is a significant advantage you must consider to reduce your fees. 

Rewards 

Make sure you choose a student credit card with flexible rewards redemptions or without any requirements. Blackout dates may apply to the rewards you will redeem. Inquire more information from Scotiabank. 

Insurance Coverage

Some student credit cards offer primary insurance coverage, but most do not. Ensure that the credit card you choose carries a few insurance coverages. That depends on your preference and needs. 

Unique Features 

Most student credit cards are just straightforward cashback or rewards credit cards. However, some may possess unique features such as exclusive access to Scotiabank, American Express, Visa, or Mastercard programs. 

How To Redeem Your Scotiabank Student Credit Cards Rewards

The Scotiabank Student Credit Card holders are registered to the Scene+ Rewards program. You can redeem the rewards by signing up and logging in to the sceneplus.ca website or the Scene+ mobile app. After that, offers are immediately posted in the app, which you can redeem using your credit card. 

Scotiabank allows cardholders to choose travel, dining, shopping, movies, and more. It is also partnered with valuable stores and brands such as Best Buy, Expedia, Best Buy, and more. You can also view your available points in the Scene+ mobile app.

All the offers eligible for your student credit card are only accessible to the website and the app. The deals and rewards may change over time. 

How To Apply For A Scotiabank Student Credit Card in Canada

Eligibility

The Scotiabank Student Credit Card doesn’t require any minimum annual requirement, credit score, or history. It only needs a few eligibility requirements, which are the following: 

  • You must be a Canadian resident.
  • You must possess the majority of the age in your province or territory. For reference, the age of the majority in Manitoba, Alberta, Ontario, Quebec, Saskatchewan, and Prince Edward Island is 18 years old, while 19 years old in all other provinces.

In Summary

There are quite a few good Scotiabank student credit cards in Canada, but some stand out above the rest for their impressive rates, high points earn rates and zero annual fees. I constantly keep up with the latest options and policy changes and make my recommendations below based on my years of experience.

The Scotiabank Scene+ Visa Card for Students is an excellent credit card option if you're a student looking to start building your credit history. This credit card comes with the option to upgrade to a regular credit card after you graduate, and offers an excellent welcome bonus, discounts on car rentals, and interest-free grace periods.

Scotiabank Student Credit Cards FAQs

Are Scotiabank student credit cards worth it?

The Scotiabank Student Credit Cards are worth it for students and new Canadian immigrants without a credit history. It is specifically designed to have a few eligibility requirements since most students don’t have stable incomes yet and need to focus on school. The rewards points and cash back are decent for a credit card without an annual fee. 

Scotiabank Student Credit Cards are typically straightforward but offer welcome bonuses and rewards. The Scene+ Rewards Program is accessible to the cardholders of Scotiabank. Regardless of your credit card, the rewards you can redeem are based on the points you earn. 

The major drawback of student credit cards is the lack of insurance coverage and exclusive benefits. Students who seek coverage protection from their purchases can still opt to get insurance, but it will have costs and fees. 

Can I increase my credit limit as a student at Scotiabank?

The credit limit for students in Scotiabank is subject to credit approval. Your credit limit may increase annually based on your program. The personal total credit limit will not surpass the maximum credit limit of your program. 

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