Are there Visa credit cards with instant approvals?
Yes, there are Visa credit cards in Canada designed specifically for students that often feature instant or quick approval processes within minutes (RBC, TD, Scotiabank, and BMO). These cards typically have lower credit limits and more lenient approval criteria to accommodate students who may not have extensive credit histories.
To qualify, you typically need to be a college student with proof of enrollment, and you might need to meet minimum income or credit score requirements, though these are often more flexible for student cards.
You can usually apply online through the bank’s website, and the application process is designed to be straightforward and quick.
Can international students apply for a credit card?
Yes, international students can apply for a credit card in Canada. You will need to provide proof of enrollment at a Canadian educational institution to qualify for a student credit card.
Building a credit history in Canada can be challenging for international students. Some banks offer credit cards specifically designed for newcomers or international students with minimal or no credit history.
Some credit cards may require proof of income or employment. International students who have part-time jobs or other sources of income may need to provide documentation of this.
In some cases, international students might need to apply for a secured credit card, where a deposit is required as collateral. This can help in establishing credit history.
As an alternative, you can also take out a personal loan. Your possible expenses:
Personal loan calculations for 1 year (example)
| Amount, $ | Rate, % | Accrued %, $ |
| 20,000 | 8.15% | 883 |
| 20,000 | 11.15% | 1,208 |
| 20,000 | 14.15% | 1,533 |
| 50,000 | 8.65% | 2,343 |
| 50,000 | 11.35% | 3,074 |
| 50,000 | 14.35% | 3,886 |
| 100,000 | 8.55% | 4,631 |
| 100,000 | 11.55% | 6,256 |
| 100,000 | 14.55% | 7,881 |
| 200,000 | 8.75% | 9,479 |
| 200,000 | 11.75% | 12,729 |
| 200,000 | 14.75% | 15,979 |
What are the best travel credit cards for students?
For students in Canada looking for travel credit cards, the options are somewhat limited compared to those available to more established credit card holders. However, there are still some good choices that offer travel rewards and benefits. Here are a few travel credit cards that could be suitable for students:
- Scotiabank Scene+ Visa Card
- RBC Avion Visa Classic
- TD Rewards Visa Card
- BMO CashBack Mastercard
- Capital One Platinum Credit Card
You can see the similar FAQ at the link:
- How do I apply for a Citibank credit card?
- How do I cancel my CIBC credit card?
- How do I check my CIBC credit card application status?
- How do I check my CIBC credit card balance?
- How do I defer my mortgage payment in CIBC
Details of companies offering the financial services:
CIBC
Head office’s address: 199 Bay St, 44th Floor Toronto
Contact center: 800-465-2422
Web-site: https://www.cibc.com/en/personal-banking.html
Swift code: CIBCCATT
Stock code: CM
BSB: 010
Bank Of Montreal
Head office’s address: 119, rue Saint-Jacques Montreal, Quebec H2Y 1L6
Contact center: 877-225-5266
Phone: 416-867-5000
Web-site: http://www.bmo.com/main/personal
Swift code: BOFMCAM2
Stock code: BMO
BSB: 001
CIBC
Head office’s address: 199 Bay St, 44th Floor Toronto
Contact center: 800-465-2422
Web-site: https://www.cibc.com/en/personal-banking.html
Swift code: CIBCCATT
Stock code: CM
BSB: 010
CIBC
Head office’s address: 199 Bay St, 44th Floor Toronto
Contact center: 800-465-2422
Web-site: https://www.cibc.com/en/personal-banking.html
Swift code: CIBCCATT
Stock code: CM
BSB: 010
Scotiabank
Head office’s address: Scotia Plaza, 44 King Street West Toronto
Contact center: 800-472-6842
Phone: 416-866-6430
Web-site: http://www.scotiabank.com/ca/en/0,,2,00.html
Swift code: NOSCCATT
Stock code: BNS
BSB: 002
Scotiabank
Head office’s address: Scotia Plaza, 44 King Street West Toronto
Contact center: 800-472-6842
Phone: 416-866-6430
Web-site: http://www.scotiabank.com/ca/en/0,,2,00.html
Swift code: NOSCCATT
Stock code: BNS
BSB: 002
RBC Royal Bank
Head office’s address: 200 Bay St, 9th Floor South Tower, Toronto
Contact center: 800-769-2511
Web-site: http://www.rbc.com/canada.html
Swift code: ROYCCAT2
Stock code: RY
BSB: 003
RBC Royal Bank
Head office’s address: 200 Bay St, 9th Floor South Tower, Toronto
Contact center: 800-769-2511
Web-site: http://www.rbc.com/canada.html
Swift code: ROYCCAT2
Stock code: RY
BSB: 003
RBC Royal Bank
Head office’s address: 200 Bay St, 9th Floor South Tower, Toronto
Contact center: 800-769-2511
Web-site: http://www.rbc.com/canada.html
Swift code: ROYCCAT2
Stock code: RY
BSB: 003
RBC Royal Bank
Head office’s address: 200 Bay St, 9th Floor South Tower, Toronto
Contact center: 800-769-2511
Web-site: http://www.rbc.com/canada.html
Swift code: ROYCCAT2
Stock code: RY
BSB: 003
RBC Royal Bank
Head office’s address: 200 Bay St, 9th Floor South Tower, Toronto
Contact center: 800-769-2511
Web-site: http://www.rbc.com/canada.html
Swift code: ROYCCAT2
Stock code: RY
BSB: 003
RBC Royal Bank
Head office’s address: 200 Bay St, 9th Floor South Tower, Toronto
Contact center: 800-769-2511
Web-site: http://www.rbc.com/canada.html
Swift code: ROYCCAT2
Stock code: RY
BSB: 003
TD Bank
Head office’s address: Toronto-Dominion Centre, Po Box 1 Stn Toronto Dom, Toronto
Contact center: 866-222-3456
Web-site: https://www.td.com/about-tdbfg/our-business/index.jsp
Swift code: TDOMCATTTOR
Stock code: TD
BSB: 004
TD Bank
Head office’s address: Toronto-Dominion Centre, Po Box 1 Stn Toronto Dom, Toronto
Contact center: 866-222-3456
Web-site: https://www.td.com/about-tdbfg/our-business/index.jsp
Swift code: TDOMCATTTOR
Stock code: TD
BSB: 004
Bank Of Montreal
Head office’s address: 119, rue Saint-Jacques Montreal, Quebec H2Y 1L6
Contact center: 877-225-5266
Phone: 416-867-5000
Web-site: http://www.bmo.com/main/personal
Swift code: BOFMCAM2
Stock code: BMO
BSB: 001
CIBC
Head office’s address: 199 Bay St, 44th Floor Toronto
Contact center: 800-465-2422
Web-site: https://www.cibc.com/en/personal-banking.html
Swift code: CIBCCATT
Stock code: CM
BSB: 010
TD Bank
Head office’s address: Toronto-Dominion Centre, Po Box 1 Stn Toronto Dom, Toronto
Contact center: 866-222-3456
Web-site: https://www.td.com/about-tdbfg/our-business/index.jsp
Swift code: TDOMCATTTOR
Stock code: TD
BSB: 004