Studying abroad comes with many financial responsibilities, and managing your finances with a credit card is one way to navigate them. As an international student, finding the right credit card can help you build your credit score, earn rewards, and make purchases more manageable. This guide outlines the best credit cards for international students, tips on how to apply, and advice on managing your credit wisely.
How to Get a Credit Card as an International Student
As an international student, getting approved for a credit card can be a challenge, especially if you don’t have a local credit history or identification like a Social Security Number (SSN) or National Insurance Number. However, there are ways to increase your chances of approval:
- Look for Student-Specific Cards: Many credit card companies offer student credit cards designed for individuals with little or no credit history. These cards typically have lower credit limits and simpler approval processes.
- Provide Proof of Income: If you have a part-time job, scholarship, or financial support, show your proof of income. This helps demonstrate your ability to repay credit.
- Consider a Secured Credit Card: If you have difficulty qualifying for an unsecured card, a secured card is a great option. These cards require a deposit as collateral but function like regular credit cards and are a great way to start building your credit history.
Top Credit Cards for International Students
1. Deserve Edu Mastercard
Best For: International students with little to no credit history.
The Deserve Edu Mastercard is an excellent option for international students because it doesn’t require a Social Security Number (SSN) or credit history to apply. The card offers 1% cashback on all purchases and has no annual fee, making it an easy way to begin building credit.
Pros:
- No SSN or credit history required
- 1% cashback on all purchases
- No foreign transaction fees
Cons:
- Limited rewards compared to other cards
2. Petal® 2 Visa® Credit Card
Best For: Students looking for a no-fee credit card with a rewards program.
The Petal® 2 Visa® Credit Card is another great choice for students without a credit history. It uses your financial behavior, rather than just your credit history, to determine your eligibility. It offers 1% cashback on all purchases, with the potential to earn up to 1.5% cashback as you demonstrate good payment habits.
Pros:
- No annual fee
- 1% cashback on all purchases (up to 1.5% with positive payment history)
- No foreign transaction fees
Cons:
- High APR of 29.49% – 31.49%
3. Bank of America® Travel Rewards Credit Card for Students
Best For: Students who travel frequently.
The Bank of America® Travel Rewards Credit Card for Students is a great option for students who want to earn travel rewards. It offers 1.5 points for every $1 spent on all purchases and no foreign transaction fees, making it an ideal card for international students who travel or study abroad.
Pros:
- 1.5 points per $1 on all purchases
- No annual fee
- No foreign transaction fees
Cons:
- Rewards limited to travel redemptions
4. Tangerine Money-Back Credit Card
Best For: Students who prefer cashback and flexibility.
The Tangerine Money-Back Credit Card allows you to earn 2% cashback on up to three spending categories of your choice, such as groceries, gas, or entertainment, with no annual fee. It’s a great option for international students looking for a simple way to earn cashback on their everyday purchases.
Pros:
- 2% cashback on up to 3 spending categories
- No annual fee
- No foreign transaction fees
Cons:
- 0.5% cashback on non-category purchases
5. Citi Rewards+® Card
Best For: Students looking to earn flexible rewards.
The Citi Rewards+® Card offers a unique bonus: it automatically rounds up to the nearest 10 points on every purchase. You can earn 2 points per $1 spent at supermarkets and gas stations, and 1 point on all other purchases. This is a great card for students who want to accumulate points for travel or merchandise.
Pros:
- 2 points per $1 on grocery and gas purchases
- Points automatically rounded to the nearest 10
- No annual fee
Cons:
- Lower points earning rate on non-category purchases
<< Another Great Card By Citi >>
6. Capital One QuicksilverOne Cash Rewards Credit Card
Best For: International students looking to earn cashback on all purchases.
The Capital One QuicksilverOne Cash Rewards Credit Card is a straightforward cashback card that offers 1.5% cashback on all purchases. Although it has an annual fee, it’s still a great option for international students who want to earn cashback while building credit.
Pros:
- 1.5% cashback on all purchases
- No foreign transaction fees
- Easy approval process
Cons:
- Annual fee of $39
Tips for Making the Most of Your Credit Card
- Pay On Time: Always make sure to pay your bill on time. Setting up automatic payments is a great way to avoid missing payments, which could negatively affect your credit score.
- Build a Credit History: Using your credit card responsibly helps you build your credit score, which will be beneficial when you need larger loans in the future.
- Use Your Card for Everyday Purchases: To earn rewards or cashback, use your card for regular expenses like groceries, transportation, and entertainment.
- Monitor Your Spending: Regularly check your balance to ensure you’re staying within your budget and avoiding unnecessary debt.
- Avoid High-Interest Debt: Pay off your balance in full each month to avoid high interest charges. If you carry a balance, try to make more than the minimum payment.
Conclusion: The Best Credit Cards for International Students
The best credit cards for international students provide the opportunity to build credit while offering rewards that fit their spending habits. Whether you’re looking for cashback, travel rewards, or a no-fee option, there’s a card that can meet your needs. Consider cards like the Deserve Edu Mastercard or Tangerine Money-Back Credit Card for fee-free options, or the Bank of America® Travel Rewards Credit Card for Students if you’re planning to travel.
Start responsibly managing your credit, and you’ll be well on your way to building a strong financial future.
