As an international student studying in the USA, managing your finances can be a challenging task. One way to simplify your financial life is by obtaining a credit card specifically designed for international students. A credit card can offer convenience, help you build credit history, and provide rewards for your spending. However, it’s important to choose the right card that suits your needs and circumstances.
In this guide, we will explore the benefits of using a credit card as an international student, provide important considerations when selecting a card, and present the top 10 credit cards for international students in the USA. By the end, you will have a clear understanding of your options and be ready to apply for a credit card that aligns with your financial goals.
Benefits of Using a Credit Card as an International Student
Using a credit card as an international student offers several advantages:
Build Credit History: Establishing a positive credit history is essential for future financial endeavors such as renting an apartment, buying a car, or even securing a loan.
Convenience: Credit cards provide a secure and easy way to make purchases, both online and in-store, without carrying large amounts of cash.
Rewards and Benefits: Many credit cards offer rewards programs that provide cash back, points, or travel miles for your spending. You may also receive other benefits such as travel insurance and purchase protection.
Emergency Funds: Credit cards can act as a safety net during emergencies, providing you with immediate access to funds when needed.
Important Considerations When Selecting a Credit Card
Before applying for a credit card, consider the following factors:
Eligibility: Check the eligibility requirements for international students, such as visa status and Social Security Number (SSN) requirements.
Fees and Rates: Compare annual fees, interest rates, and foreign transaction fees across different cards.
Credit Limits: Consider the initial credit limit and the potential for increases based on your creditworthiness.
Rewards and Benefits: Evaluate the rewards program and additional perks offered by each card.
Customer Service: Look for credit cards with reliable customer service, especially if you prefer to communicate in your native language.
Now, let’s explore the top 10 credit cards for international students in the USA and their key features:
Top 10 Credit Cards for International Students in the USA
Deserve® EDU Mastercard for Students
No SSN Required: Deserve offers this card to international students without an SSN.
Cash Back Rewards: Earn cash back on purchases.
No Annual Fee: This card has no annual fee.
Mobile Wallet: Use the card with popular mobile wallets.
Capital One Platinum Credit Card
Low Credit Requirements: Easier approval process for international students.
No Annual Fee: No annual fee to worry about.
Credit Building: Helps establish and improve credit history.
Discover it® Student Cash Back
Cash Back Rewards: Earn cash back on rotating categories.
Match Cash Back: Discover matches your cash back earned in the first year.
Good Grades Reward: Earn a cash bonus for maintaining good grades.
Bank of America® Travel Rewards Credit Card for Students
Travel Rewards: Earn points on every purchase.
No Foreign Transaction Fees: Ideal for international students who travel frequently.
Introductory Offer: Enjoy an introductory points bonus.
Chase Freedom® Student Credit Card
Cash Back Rewards: Earn cash back on all purchases.
Credit Limit Increases: Possible credit limit increase after 6 months.
No Annual Fee: No annual fee for the life of the card.
Citi Rewards+℠ Student Card
Rewards Points: Earn points on all purchases.
Round Up Points: Points are rounded up to the nearest 10 points on every purchase.
Introductory Offer: Get bonus points after meeting the spending requirement.
Journey Student Rewards from Capital One
Cash Back Rewards: Earn cash back on all purchases.
Boosted Cash Back: Increase cash back earnings with on-time payments.
No Annual Fee: No annual fee for this card.
Discover it® Chrome for Students
Cash Back Rewards: Earn cash back on gas and restaurant purchases.
Good Grades Reward: Earn a cash bonus for good academic performance.
First-Year Cash Back Match: Discover matches all cash back earned in the first year.
Petal® 2 “Cash Back, No Fees” Visa® Credit Card
No Annual Fee: No annual, late, or foreign transaction fees.
Cash Back Rewards: Earn cash back on eligible purchases.
Credit Building: Build credit responsibly with Petal’s guidance.
American Express® Gold Card for International Students
Rewards Program: Earn rewards points on all purchases.
Travel Benefits: Enjoy travel perks such as lounge access.
Global Acceptance: Widely accepted worldwide for seamless international transactions.
How to Apply for a Credit Card as an International Student
Now that you have an overview of the top credit cards for international students, here are the steps to apply for a credit card:
Choose the Right Card: Review the features of each card and select the one that best aligns with your needs and preferences.
Gather Required Documents: Prepare the necessary documents such as identification, proof of address, and SSN (if applicable).
Apply Online: Most credit card issuers offer online applications. Fill out the application form and provide accurate information.
Wait for Approval: The approval process may take a few days. Monitor your email for updates.
Receive Your Card: Once approved, your card will be mailed to your address.
Activate and Use: Activate your card according to the issuer’s instructions and start using it responsibly.
Conclusion
Obtaining a credit card as an international student in the USA can provide numerous benefits, including convenience, rewards, and the opportunity to build credit history. By considering the top 10 credit cards listed above, you can make an informed decision and select the card that suits your financial needs and lifestyle.
Remember to use your credit card responsibly by paying your balance on time and keeping your spending within your means. By doing so, you can enjoy the advantages of having a credit card while studying in the USA and set yourself up for a strong financial future.
If you’re ready to apply for a credit card, review the options, gather the required documents, and submit your application today!
