Welcome to Student Tips

As of November 2024, international students in Canada are permitted to work up to 24 hours per week during regular academic sessions. During scheduled breaks, such as summer or winter holidays, students may work full-time.

Key Points to Remember:

• Working beyond the permitted hours may impact your study permit status.
• Always ensure your employment aligns with the conditions outlined on your study permit.
• For the most current regulations, please refer to Immigration Refugees and Citizenship Canada (IRCC) Opens a new window..

Student credit card credit limits typically range from $500 to $1,000, depending on the card type, your financial profile, and the issuing bank’s assessment. At CIBC, student credit cards are designed to help you build your credit history responsibly while managing everyday expenses.

Key Considerations:

• Your approved credit limit will be determined by factors such as your income, credit history (if any), and the specific card you apply for.
• Credit limits may be reviewed and increased over time as you demonstrate responsible use.
• For details on CIBC’s student credit card options and personalized advice, please visit the CIBC Student Banking page or speak with a CIBC advisor.

Start by exploring CIBC Student credit cards or CIBC Student Bank Accounts. Once you find the card or account that's right for you, you can apply online through the CIBC website or visit a banking centre.

You’ll need government-issued ID and proof of student status (like a student card or enrollment letter). For credit cards, a Social Insurance Number may be required.

Simply choose your preferred product, fill out the application, and submit your documents. If approved, you’ll receive your card or account details and can start using your account right away. For help, contact CIBC.

Most student loan providers do not accept direct payments from credit cards. Typically, payments must be made through online banking, pre-authorized debit, or by cheque. However, some third-party services may allow you to use a credit card to pay your student loan, but they may charge additional fees and are not always recommended due to higher interest rates on credit cards.

You can build your credit history by using your student credit card to cover everyday expenses but use it responsibly. Don’t spend more than you can afford to repay and pay off your balance each month in full — or at least make the minimum payment.

Building a strong credit history when you’re a student is important for your future goals. When you’re ready to buy a car or home, a good credit score can mean the difference between being approved or denied for a loan. Plus, a strong credit score can help you get a lower interest rate.

Yes, you can still use your student credit card after graduation, but you may want to consider upgrading your card to take advantage of higher credit limits and more reward perks.