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Desjardins Student Cash Back Visa review

Earn some cash back for next semester’s textbooks with this student credit card.

No longer offered in the market

The Desjardins Student Cash Back Visa is no longer available. However, we’ve kept the information online for those who are interested.

You can compare more Desjardins credit cards here.

The Desjardins Student Cash Back Visa is a good credit card option for Canadian college and university students because it carries no annual fee and offers up to 1% cash back on all purchases.

30-second take

  • Think about this card if you like getting cash back and don’t want to pay the annual fees.
  • Consider a different card if you’re looking for more robust benefits.
  • No minimum annual income is required to apply for this card.

The basics

It really is all about the no annual fee and getting cash back for your purchases, and if you’re a cash-strapped college student and just need a card to get by, this card just might be for you.

  • Good cash advances – receive up to $2,500 a day from anywhere in the world, which for a student, is a hefty amount.
  • Zero liability – in the event of a fraudulent transaction, you are free of any liability made against your card.
  • Purchase protection – offers coverage on select items for 90 days from purchase date in the event of loss or damage.
  • Financing – receive Accord D financing on items that are above your current spending habits.
  • No up-front fees – no annual fees and no supplementary card fees.

The perks

  • Mobile payments – easy, free and secure to pay using the Google Pay or Apple Pay tap feature with your mobile phone.
  • Visa Checkout – enjoy protection of privacy and faster checkouts when purchasing things online.
  • Mobile device insurance Get up to $1,000 back if your cell phone, smartphone or tablet is lost, stolen, damaged or has a mechanical failure.
  • Personalize your card – choose the image you want to have displayed on your card.
  • Free coverage for short trips – receive travel insurance on trips of 3 days or less outside your province of residence
  • Car rental discounts – receive up to 15% off select Hertz locations worldwide

What to watch out for

  • Limited travel insurance – you’ll only get 3 days of out-of-province coverage and you’ll have to purchase a separate travel insurance plan for longer trips.
  • High interest rates – at 19.90%, it is fairly high, especially for students where income might fluctuate.
  • Conversion fees – all transactions made in foreign currency will be converted to Canadian dollars and you will be hit with a 2.5% conversion fee of the transaction amount.
  • Very low return on cash back – offers up to 1% cash back on all purchases./li>
  • Few benefits – you won’t receive comprehensive travel insurance and roadside assistance.

What should I know before I apply

How to apply

  1. Head to the Desjardins website to begin your application.
  2. Complete the application online, which includes providing your complete name, email address, social insurance number, birth date, employment status, financial information and other pertinent details.
  3. Review and submit your application.

Compare other credit cards

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
RBC Cash Back Mastercard
N/A
Up to 2% cash back
19.99%
$0
Min. recommended credit score: 650
Get 2% cash back on grocery store purchases, and up to 1% cash back on all other qualifying purchases and pre-authorized payments.
BMO CashBack Mastercard
5% cash back
Up to 3% cash back
20.99%
$0
Min. recommended credit score: 660
Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,500). Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.
Tangerine World Mastercard
15% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 15% cash back (up to $150) when you spend $1,000 in the first 2 months Until December 29, 2022. Plus, get a 1.95% interest rate on balance transfers for the first 6 months (valid within the first 30 days of account opening, 1% transfer fee applies).
RBC Avion Visa Infinite
55,000 points
Up to 1 point per $1 spent
19.99%
$120
Min. recommended credit score: 650
Get up to 55,000 Welcome Points. Get 35,000 points on approval and 20,000 bonus points when you spend $5,000 in your first 6 months. Apply by January 31, 2023.
OFFER
Tangerine Money-Back Credit Card
15% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 15% cash back (up to $150) when you spend $1,000 in the first 2 months Until December 29, 2022. Plus, get a 1.95% interest rate on balance transfers for the first 6 months (valid within the first 30 days of account opening, 1% transfer fee applies).
EXCLUSIVE
Neo Financial Mastercard
Get $25.00
Average 5% cash back
19.99% - 26.99%
$0
Min. recommended credit score: 600
Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at thousands of partners and at least 0.5% cashback guaranteed.
BMO Preferred Rate Mastercard
0.99% rate on balance transfers for 9 months
N/A
12.99%
$0 annual fee for the first year ($20 thereafter)
Min. recommended credit score: 660
Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $20 annual fee waived in the first year.
RBC ION+ Visa
12,000 points
3 points per $1 spent
19.99%
$48
Min. recommended credit score: 660
Earn 12,000 Avion points when you get approved for the card. Apply by November 30, 2022.
RBC ION Visa
6,000 points
1.5 points per $1 spent
19.99%
$0
Min. recommended credit score: 660
Earn 6,000 Avion points when you get approved for the card. Apply by November 30, 2022.
American Express Cobalt Card
30,000 points
Up to 5x points per $1 spent
20.99%
$155.88
Min. recommended credit score: 700
Earn up to 30,000 Membership Rewards points in your first year. Earn 2,500 Membership Rewards points for each monthly billing period in which you spend $500 in net purchases on your card (up to 30,000 points). That’s up to $300 towards a weekend getaway or concert tickets.
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Bottom line

If you’re a student who is living on modest means and needs a no-frills kind of credit card, the Desjardins Student Cash Back Visa is a solid choice. You’ll earn up to 1% cash back on all purchases and while you may not rake in the cash back, getting something back is definitely better than nothing. It doesn’t really offer much in the way of travel perks but if you’re not planning on seeing the world anytime soon, this card will hold you over.

Frequently asked questions about the Desjardins Student Cash Back Visa

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