Student credit cards are mostly intended for professionals, and they have reduced premiums, minimal interest rates, and also a plethora of incentives and bonuses. It is the perfect first credit card for young students who do not have a credit background or ranking. There are many credit card choices available to foreign students, and it is okay if you do not have a credit background or an SSN. These best credit cards for international students will assist you in developing healthy payment behaviors and establishing a good credit background. So, without further ado let us start looking at the different credit card options for international students.
Discover it Student Cash Back
Discover it Student Cash Back is one of the best credit cards for international students in the United States due to the range of incentives it offers, such as rewards for retaining good grades and substantial benefits with no annual fees. An SSN, on the other hand, is needed for foreign student credit card applicants.
Rewards and Advantages
- Earn 5% cash back for up to $1,500 of cumulative quarterly sales in revolving purchasing buckets, with an unlimited 1% cash back for all other transactions. Discover doubles the cashback profits at the conclusion of the first year while cashback is matched after one year.
- If the grade point average (GPA) is at least 3.0, you can get a $20 statement payment per year.
- A free FICO credit score will be given on your financial statement or online at any time.
- Payment should be reported to the main credit bureaus of the United States.
- Discover it Student Cash Return is appealing to students due to its potential high bonus structure and cashback match for new card members. To take advantage of the 5% cashback on rotating expenditure groups, you must manually activate the rate. Otherwise, it is immediately set to 1% cashback on orders. Remember the Discover is not as universally known as Visa, Mastercard, or American Express.
Next on our list of top credit cards options for international students is Capital One Journey Student Rewards.
Journey Student Rewards from Capital One
The Capital One Journey Student Rewards credit card is the best credit card for international students who wish to begin developing their credit history. It provides bonuses to students for making on-time payments and receives additional cashback as a result. And making on-time payments is the first step in establishing good credit. For just six months with on-time billing, the credit cap will be increased.
This card is a decent first credit card from a big lender like Capital One because it has simple cash back perks, no annual charge, and no overseas transaction fee. International students can also apply.
Rewards and Advantages
- Earn 1% cashback for all orders plus an additional 0.25 percent Cash Back incentive for cashback for on-time payments.
- When you pay on time, you can get $5 a month over the next 12 months on Select Streaming Subscriptions. (There are several exceptions.)
- Enjoy full and unrestricted access to your credit report as well as software to track your credit history with CreditWise.
- After 6 months of on-time payments, the credit line will be reviewed automatically for a higher credit line.
- Eno, the Capital One assistant, is available 24 hours a day, seven days a week (Check balance, transactions and pay your credit card bill, etc.)
- Travel crash insurance and secondary rental car crash insurance are also available.
International students with no financial background have a higher probability of getting eligible for a Journey Student Rewards credit card, as well as the ability to create credit. Since the APR on a student credit card is very high, pay off the balance in full per month; otherwise, it may be very expensive.
Deserve Edu Mastercard for Students
The Deserve Edu Mastercard could be the best credit cards for international students studying in the United States, especially those with little to no credit background and no Social Security Number (SSN) (one might need to have a US bank account). There are no annual payments or protection deposits needed. Students born in the United States are eligible to qualify for this credit card.
Rewards and Advantages
- Earn 1% Cash Back for all orders.
- Receive up to $600 as mobile phone insurance.
- Take advantage of auto rental insurance, emergency assistance, price security, and an extended guarantee.
- Get Mastercard ID Theft Protection
- Use your own referral code to refer a peer to Deserve. And you’ll get $30 until your application is approved and enabled. You can also get lifetime referral benefits.
- Unauthorized Charges Have No Liability
Because of the low eligibility requirements, Deserve Edu Mastercard is among the great credit cards for international students. Since the APR on a student credit card is larger, you can pay off the balance in full per month and stop paying interest fees. If you’ve established a credit background and a good credit score, consider applying for a credit card from a major issuer that provides better rewards.
Bank of America Cash Rewards for Students
Bank of America’s Cash Rewards credit card is the best credit card for international students who want to collect cashback on regular transactions without paying an annual charge and thus develop a credit background. It provides a tiered incentive system for receiving cashback on transactions made by students such as snacks, restaurants, movies, and online shopping.
This card can even apply to students who already are Bank of America users and can be used to cover overdrafts on their checking account.
Rewards and Advantages
- Earn 3% cashback on your favourite purchases, such as online shopping, eating, travel, home renovation, and petrol.
- Earn 2% cashback at supermarket shops and wholesale clubs.
- Earn 1% cashback on all of your other orders.
- Earn 3% and 2% cashback on the first $2,500 in the consolidated segment per year, then earn 1%.
- FICO credit report is available for download.
- Digital wallet technologies and mobile/online banking are available.
- It isn’t the best student card for use in the United States since it imposes a 3% international transaction fee.
Overall, Bank of America’s Cash Compensation is one of the best student credit cards for students who invest the majority of their money on college costs due to the high cashback rewards, no yearly charge, and introductory incentive.
FAQs
1. Which credit card is the best for international students?
Some of the best credit cards for international students would be 1) Discover it Cash back, 2) Capital One Journey Student Rewards 3) Deserve Edu Mastercard and more. The aforementioned credit cards have the best offers and rewards for students who opt for them.
2. Which bank offers credit cards for students?
HDFC Bank, ICICI Bank, SBI, and Axis bank are amongst the top banks offering credit cards to students. Most of these banks have added facilities of low-interest rates, no annual fees, along with availing the benefits of reward points and more!
3. How do I find a good student credit card?
After thorough research on the best banks offering international student credit cards, you will have the option of either visiting the local branch or applying online for a credit card. Do keep in mind to submit necessary documents such as identity proof, enrollment proof & status, credit history & score (if asked), as well as your current income (if applicable).
4. How can a student with no income get a credit card?
You might need to provide proof of a regular income from a part-time or full-time job in order to apply for a student credit card, or you might need to take the help of a co-signer—someone over the age of 21 with a regular income who will be accountable for any late or missed payments—to cosign your application.
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