Are you an international individual living in the United States with an ITIN (Individual Taxpayer Identification Number) and looking to build your credit history? You may be struggling to find a suitable credit card designed for your unique financial needs. Worry not, Flik Eco is here with a list of the best credit cards for ITIN holders. We aim to help you make informed decisions when it comes to your finances.
Best Credit Cards For ITIN Table of Contents
Finding the Right Credit Card with ITIN
Having an ITIN alone does not guarantee approval for a credit card. Financial institutions mostly require a Social Security Number (SSN) for their credit card applications. However, with the right approach and knowledge, you can still find credit cards tailored for ITIN holders. Here are several important factors to consider when seeking a credit card with ITIN:
- Approval requirements
- Annual fees and interest rates
- Rewards and perks
- Credit building opportunities
Best Credit Cards for ITIN Holders
Keeping these factors in mind, we've compiled a list of top credit cards suitable for ITIN holders. These credit cards cater to different financial needs and preferences, making it essential to choose one that aligns with your individual goals and spending habits.
Secured MasterCard from Capital One
A good option for ITIN holders looking to build their credit, this card requires a refundable security deposit before approval. The credit limit is determined by your deposit, which ranges from $49 to $200. This card also comes with a low annual fee and helpful credit-building tools, making it an excellent choice for newcomers to the credit world.
Discover it Secured
This secured card not only helps you establish credit but also offers cashback rewards. You can earn 2% cashback on restaurants and gas stations (up to $1,000 in combined purchases every quarter) and an unlimited 1% cashback on all other spending. Plus, Discover will match your first-year cashback earnings at the end of the year. The card requires a refundable security deposit and has no annual fee.
Deserve EDU Mastercard for Students
Designed specifically for international students, this card doesn't require a co-signer or a security deposit. Plus, it comes with a 1% cashback program and no international transaction fees. The annual fee is waived, making this a perfect fit for ITIN holders who are students.
OpenSky Secured Visa Credit Card
This card does not require a credit check, making it accessible to ITIN holders with no credit history. By offering a $200 to $3,000 credit limit based on the security deposit, this card can help cardholders build their credit score. However, the card comes with a $35 annual fee.
Best Credit Cards For ITIN Example:
Let's assume you're an international student who recently moved to the United States and obtained an ITIN. You want a credit card to help you build credit while enjoying some rewards. After reviewing the options, you decide to apply for the Deserve EDU Mastercard for Students. This card is specifically designed for students like you and offers 1% cashback on all purchases with no annual fee. Plus, you can use it without incurring any foreign transaction fees when traveling back home.
Navigating the world of credit cards can be challenging, especially for ITIN holders. However, thanks to Flik Eco’s extensive research, you now have a much clearer understanding of the best credit cards available to those with an ITIN, whether you're focused on building credit or earning rewards. We hope this guide helps you make informed decisions when it comes to managing your personal finances.
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