Are you an international student looking for the perfect credit card to make your life easier? You're in the right place! In this guide, we'll explore the best credit cards for international students and why they should be part of your financial toolkit. With the right card, you can say goodbye to unnecessary fees, save money on your purchases, and build up your credit score at the same time. Let's get started!
Best Credit Cards For International Students Table of Contents
Factors to Consider when Choosing a Credit Card for International Students
Factors to Consider when Choosing a Credit Card for International Students
When looking for a credit card, it's essential to consider how well it matches your needs and priorities as an international student. Here are some crucial factors to keep in mind:
No Annual Fee
Since you're already on a tight budget as a student, it's best to find a credit card that doesn't charge an annual fee. This way, you can save more money for other important expenses.
Travel Rewards
As an international student, chances are you'll be traveling back and forth between your home country and your study destination. A card with travel rewards can help you save on flight and accommodation costs.
Foreign Transaction Fees
Look for a credit card with no foreign transaction fees. These fees are typically around 3%, which can add up over time, especially if you're often making purchases in a foreign currency.
Building Credit History
Select a card that reports your activity to major credit bureaus, so you can start building your credit history in your new country.
Top Credit Cards for International Students
We've compiled a list of the best credit cards that cater to international students' needs:
1. Discover it® Student Cash Back
- No annual fee
- 5% cashback on rotating categories, 1% cashback on all other purchases
- No foreign transaction fees
- Builds credit history
2. Deserve® EDU Mastercard for Students
- No annual fee
- 1% cashback on all purchases
- No foreign transaction fees
- Builds credit history
3. Capital One Journey® Student Rewards
- No annual fee
- 1% cashback on all purchases, with a 0.25% cashback boost for paying on time
- No foreign transaction fees
- Builds credit history
Best Credit Cards For International Students Example:
Imagine you're an international student from India pursuing your studies in the United States. You choose the Discover it® Student Cash Back card to help manage your expenses throughout the academic year. You make regular monthly purchases totaling $500, including groceries, dining out, and textbooks, with a portion of these falling under the card's 5% cashback category.
In a year, you could earn about $300 in cashback rewards (assuming $1,500 spent in the 5% cashback categories and $4,500 in the 1% cashback category). You've also saved money by avoiding annual fees and foreign transaction fees while building your credit score.
Congratulations! You're now equipped with all the knowledge you need to choose the best credit card for your international student journey. Take your time to compare the options and select the one that's perfect for you. Don't forget to share this article with fellow international students, and explore the plethora of other guides available on Flik Eco to continue making informed financial decisions. Good luck, and happy studying!
