Check out these two Visa cards for students, which have insurance with no annual fees.
Key Comparisons
| CIBC Aeroplan Visa Card for students | Scotiabank Scene Visa Card for Students | |
| Estimated Credit Score | 300 | 300 |
| Annual Fees | N/A | N/A |
| Interest Rate | 20.99% | 19.99% |
| Insurance Coverage | Yes | Yes |
| Pros | 1. 1 point per $1 spent on gas, groceries, and with Air Canada. 2. 10,000 Aeroplan miles sign-up bonus awarded after your first purchase. 3. Earn 2x the points when you shop with partner retailers through the Aeroplan miles portal (including companies like Hudson’s Bay, Chapters, and Etsy). 4.No annual fee, no minimum income requirement, and comes with a sweet sign-up bonus of 10,000 Aeroplan miles. | 1. Earn 1 point for every $1 spent. 2. Earn 5 points for every $1 spent at Cineplex. 3. Earn 1,250 bonus points after your first purchase. 4. Redeem your rewards for movie tickets or Sport Chek gift cards. 5. Enjoy a 20% discount at Avis locations worldwide. |
| Cons | 1. High purchase interest rate at 20.99%. 2. It doesn’t have the most attractive point earning rates. 3. Only available to post-secondary students. | 1. Does not include any type of insurance. 2. Redemption options are limited to movie tickets or Sport Chek gift cards. 3. Limited options for restaurant redemptions. |
Key Benefits of CIBC Aeroplan Visa Card for Students
Rewards and Insurance
With Aeroplan EliteTM Status, your travel experience will be improved.
Your travel experience with Air Canada will improve the more flights you take, including access to premium services at the airport and your choice of upgrades. Primary cardholders can frequently book flight rewards for even fewer points. Air Canada also doesn’t charge any extra airline costs for flight rewards. When renting a car, additional protection is offered by collision and loss damage insurance for auto rentals. When making new purchases, Purchase Security and Extended Protection Insurance provide additional security.
Aeroplan Points
For each dollar directly spent with Air Canada, including through Air Canada Vacations, on gas, groceries, and other purchases, 1 point is given. Participiating gas stations will give you up to 10 cents off every liter when you use Journie Rewards. You earn 1 point for every $1.50 you spend on all other purchases. Through the Aeroplan eStore, you can double your points at more than 170 online retailers and 150 Aeroplan partners. Utilizing the Aeroplan Family Sharing feature, you can quickly earn your next flight reward by combining points with other Aeroplan household members. When using Aeroplan points to purchase any seat on Air Canada, there are no restrictions. Additionally, you can pay for flight rewards using both cash and points.
Card Protection
CIBC is committed to maintaining the Visa Zero Liability policy, which sets the standard for what you may expect when doing business with us. For additional information, go to Visa Purchase Protection Opens in a new window. You won’t be held responsible for fraudulent purchases made via the Visa network if your card, card number, or other card details are stolen as long as you keep your promises and take efforts to protect your card and PIN. Along with regular debit and credit card usage, we keep an eye on fraud trends. If we discover any clues that a transaction might be fraudulent, we’ll contact you via phone, text, or email and request confirmation.
Key Benefits of Scotiabank Scene Visa Card for Students
Annual Fee, Additional Cards, and Rates
You are not required to pay for the card because there is no annual fee, even if your tendency to watch movies decreases. Furthermore, it costs nothing to add additional users to your account who have their own cards. When you make a transaction with your SCENE Visa card, you can also save up to 25% off base rates at participating AVIS and Budget locations in Canada and the US.
Rewards and Points
You can receive a welcome bonus of up to 5,000 Scene points if you spend $750 within the first three months of having the card. If you frequently visit the movies to escape roommate conflict or to decompress, you might want to use this card. The money you spend at the movies can have some fantastic advantages. Earn 5 Scene points for every $1 spent at Cineplex theaters or on cineplex.com. You will get 1 Scene point for every $1 spent with a standard credit card. Tickets for UltraAVX, IMAX, Prime seats, and D-Box cost 2,000 points, while tickets for general admission or 3D movies cost 1,250 points.
Other Perks and Welcome Bonus
Another advantage is that the rewards are fantastic for purchases outside the average student budget. Spend the prizes as a reward for handling the pressures of school on things like movies, takeout, gift cards to stores, excursions, hotels, and more. In Canada and the US, participating Avis and Budget shops are offering 25% off the base rates for car rentals. The welcome bonus is also excellent. 1,250 more Scene+ points are available when making the initial purchase. Despite the absence of an initial APR, the interest rates are thorough and follow the market. An acceptable credit limit is $500, which is the minimum.