Are you an international student in the USA looking to build your financial future? The world of credit cards can be a fantastic tool to help you with this. However, navigating the vast array of options and understanding what's best for you as a non-US citizen can be a challenge. That's why Flik Eco is here to provide you with all the information you need to know about credit cards for international students in the USA. So, let's dive in and discover the best options when it comes to credit cards for your unique situation.
Credit Cards In Usa For International Student Table of Contents
Why Credit Cards Matter for International Students
Why Credit Cards Matter for International Students
As an international student, you may not have a credit history in the United States. A credit card can help you start building one, enhancing your overall profile and making it easier to access loans and other financial products in the future. In addition, responsible credit card usage will teach you crucial money management skills that will benefit you long after you graduate.
Choosing the Right Credit Card
The first step in selecting the right credit card as an international student is understanding your specific needs and preferences. Here are some factors to consider:
- Annual Percentage Rate (APR): This is the cost of borrowing on your credit card. As a student, it's crucial to look for cards with a low APR to minimize your costs.
- Fees: Various fees can be associated with credit cards, such as annual fees, balance transfer fees, and foreign transaction fees. Be mindful of these when comparing offers.
- Rewards and Benefits: Many credit cards come with perks like cashback, travel rewards, and sign-up bonuses. Identify the rewards that align with your spending habits.
- International Acceptance: Make sure the card you choose is widely accepted, both in the United States and back home.
Best Credit Cards for International Students
Now that you know what to look for in a credit card, let's explore some of the best options available to international students:
- Discover it® Student Cash Back: This card offers 5% cash back on rotating categories and 1% on all other purchases. There's no annual fee, and it's widely accepted across the globe. Plus, it comes with a Good Grades Reward program, which gives a cashback bonus if your GPA is 3.0 or higher.
- Deserve® EDU Mastercard: Designed specifically for international students, this card doesn't require a Social Security number or credit history. It comes with 1% cashback on all purchases and no annual fee. Also, Amazon Prime Student membership is given as a perk.
- Capital One QuicksilverOne: While this card has a $39 annual fee, it offers unlimited 1.5% cash back on all purchases. Although it targets customers with average credit, international students with a limited credit history might still be eligible.
Credit Cards In Usa For International Student Example:
Let's say you're an international student from India studying in the United States. You enjoy traveling back home and exploring new destinations during semester breaks. In this scenario, a good option for you would be the Bank of America® Travel Rewards Credit Card for Students. This card offers 1.5 points for every dollar spent on purchases, with no cap on the number of points you can earn. Additionally, it has no annual fee, no foreign transaction fees, and a 0% introductory APR on purchases for the first 12 billing cycles.
And there you have it! Establishing a healthy financial foundation is key to success in the United States, and a credit card tailored to your needs as an international student can help with that. With so many great options available, you're sure to find the perfect fit. Remember to use your credit card responsibly, pay your bills on time, and keep an eye on your credit score. By doing so, you'll be setting yourself up for a bright financial future. Be sure to share this article with your fellow international students and explore other guides on Flik Eco to further enhance your financial knowledge.
