Are you an international student struggling to find the right credit card without an SSN? You're not alone! Finding a credit card as an international student without a Social Security Number (SSN) can be challenging, but it isn't impossible. With the right information and guidance, you can get your hands on a credit card that suits your needs and requirements. In this Flik Eco guide, we'll explore suitable credit cards and share some tips on how to make the right choice. So let's jump right in!
Credit Cards For International Students Without Ssn Table of Contents
Why is it Difficult for International Students to Get a Credit Card Without an SSN?
Why is it Difficult for International Students to Get a Credit Card Without an SSN?
While it may be relatively easy for domestic students to apply for and receive a credit card, international students often run into complications due to their lack of an SSN. Financial institutions use SSNs to evaluate an individual's credit history and assess their creditworthiness. Without an SSN, credit card issuers might be hesitant to approve your application.
Options for International Students Without an SSN
Don't worry – not having an SSN doesn't mean you can't get a credit card. Several options are available, and we'll go over a few of them here:
1. Apply for an Individual Taxpayer Identification Number (ITIN)
An ITIN is issued by the IRS and functions similarly to an SSN for tax purposes. Some credit card issuers may accept ITINs in place of an SSN during the application process.
2. Find a Credit Card Issuer that Does Not Require an SSN
Some credit card companies understand the challenges faced by international students and offer credit card options without SSN requirements. Such issuers often target international students specifically, and their credit products may cater to students' unique needs.
3. Apply for a Secured Credit Card
A secured credit card is backed by a cash deposit, which is typically equivalent to the credit card's limit. This type of card is often easier to obtain for those without a credit history or SSN because it lowers the issuer's risk.
Best Credit Cards for International Students Without an SSN
1. Deserve EDU Mastercard
- Designed for international students with no credit history or SSN
- No annual fee
- 1% cashback on all purchases
- Amazon Prime Student membership
2. Capital One QuicksilverOne Cash Rewards Credit Card
- May accept ITIN in place of an SSN
- No foreign transaction fees
- 1.5% cashback on all purchases
- $39 annual fee
3. Discover it Secured Credit Card
- May accept ITIN in place of an SSN
- 2% cashback at gas stations and restaurants, 1% cashback on all other purchases
- No annual fee
Credit Cards For International Students Without Ssn Example:
Let's say you're an international student who doesn't have an SSN, but you have just successfully obtained an ITIN. You're now ready to apply for a credit card. You can begin by looking into credit cards like Capital One QuicksilverOne Cash Rewards Credit Card and Discover it Secured Credit Card, which may accept ITINs during the application process. Additionally, you can also explore the Deserve EDU Mastercard, specifically designed for international students.
Navigating the world of credit cards as an international student without an SSN may seem daunting, but with the tips and information shared in this Flik Eco guide, you're now well-equipped to make an informed decision. International students have more options than ever before, so make sure to explore these opportunities and find the perfect credit card for your needs. Don't forget to share this guide with your friends and fellow international students – they'll appreciate the help! And make sure to check out our other guides on Flik Eco for more insightful personal finance and investing tips tailored to the millennial audience!
