If you are someone that wants to use credit cards while you are studying abroad in the United States as an International student, you are going to likely want to get a credit card for international students at some point. After all, it is important to have the flexibility and security that a credit card can provide you when you are staying someone long term. The easiest way to do this would be to apply for a credit card for international students is in your home country prior to actually going to the U.S. With that being said, some might forget to do this and some might want to simply start building credit in the U.S since they plan on staying after their studies are complete. Below, we will be going over some of the top tips that you will want to apply when you are looking to find a credit card as an International student.
Top Credit Cards For International Students: 1. Find The Right Bank/Card. Once you get to the country, you are going to want to apply for a card that you are most likely to get approved for. While this can be a daunting task, you are going to want to be sure to make your first bank and card one from CitiBank. While most U.S banks will require you to have a social security number before they will issue you are credit card in your name, CitiBank does not. In fact, CitiBank offers a no annual fee credit card for International students without an SSN, along with no monthly fee bank accounts. Thus, you should be able to effectively open a credit card and even a bank account which can provide you with much more flexibility and accessibility with being able to send money back and forth between your accounts in the two different countries where you live.
2. Secured Credit Card. When it comes to applying for and getting a credit card as an International student, you should anticipate it being a secured one. You will be forced to get a secured credit card primarily because you will undoubtedly have a lack of credit history that would allow you to get a regular credit card. For this kind of credit card for international students, the bank will require you to deposit a specific sum of money equal to the credit line provided so their risk is essentially zero'd out. For instance, if the bank is willing and able to offer you a $500 line of credit, you will be required to deposit the same sum into your account. While it is not a pre-paid card, you will need to effectively 'prove' that you are going to be able to pay off the credit line provided. Your money will remain completely untouched and it will effectively earn interest in the meantime as long as you pay your bills each and every month on time. By doing this, you should be able to effectively build up a good credit history and around 6-12 months later you might even be able to apply for an unsecured credit card that doesn't require the same initial deposit.
By following the tips above, you should be able to find the best credit cards for International students. Be sure to not only find the right card for your use case, but also try to build credit as soon as you can.