Savanna Hoffman
International students can get credit cards in the US, but it can be challenging. The best option for international students is to get a credit card that doesn't require a Social Security Number (SSN). Some credit card issuers offer options for international students that don't require an SSN, such as Zolve and Deserve Edu Mastercard. Other options include getting an Individual Taxpayer Identification Number (ITIN) or finding a trusted person who will add them as an authorized user on their card. International students can also get a part-time job to increase their income and qualify for better credit card terms and rewards programs. Building a US credit score is important for international students as it can help them apply for loans, get a credit card, or rent an apartment.
| Characteristics | Values |
|---|---|
| Difficulty | Getting a credit card as an international student can be difficult due to lack of credit history and other requirements. |
| Necessity | A credit card can be useful for purchases and building a credit history, which is essential for long-term residents intending to buy a car, take out a mortgage, or apply for a loan. |
| Requirements | Most applications require an SSN, though some issuers accept an ITIN, passport, or visa. Students may need to prove they can pay their credit card bills through part-time employment. |
| Options | International students can apply for a secured credit card, student credit card, or credit-builder loan. They can also become an authorized user on someone else's card or open a U.S. bank account to build their credit history. |
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What You'll Learn
International students without an SSN
International students without a Social Security Number (SSN) can still open a credit card account in the US. However, they may need to take some extra steps before applying. Here are some options for international students without an SSN:
Get an Individual Taxpayer Identification Number (ITIN)
If you don't have an SSN, you may be able to apply for an ITIN. Some credit card issuers accept ITINs as an alternative to SSNs on card applications. An ITIN can be obtained from the Internal Revenue Service (IRS) and may take up to seven weeks to be approved.
Use a Student Visa
International students with F-1 or other student visas may qualify for an SSN. However, they may need to get authorization and have a part-time job lined up first. Working a part-time job can increase your chances of credit card approval, as it shows that you have a source of income and can pay your bills.
Become an Authorized User
Another option for international students without an SSN is to become an authorized user on someone else's credit card. You can ask a trusted family member or friend to add you to their existing credit card account. As an authorized user, you will receive a credit card with your name on it, and any expenses will be charged to the account owner. Some credit card issuers may report the payment history to credit bureaus for both the cardholder and the authorized user, helping you build your credit history.
Apply for a Secured Credit Card
Secured credit cards are backed by collateral, typically a security deposit from the cardholder. This deposit often serves as the card's credit limit, reducing the risk for lenders. Secured credit cards can be easier to obtain than traditional credit cards and are an excellent tool for building credit history over time.
Open a US Bank Account
Opening a checking account at a US bank can be a positive signal to credit card companies, indicating that you have monetary assets in the country. It may also be easier to apply for a credit card with the same bank, as they may offer preferential treatment to existing customers.
While having an SSN can simplify the process of obtaining a credit card in the US, international students without an SSN still have several options available to access credit and build their credit history. It is important to carefully review the requirements and consider your individual circumstances when choosing the most suitable option.
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Secured credit cards
International students often face challenges when applying for their first credit card in the US. The majority of credit card applications require a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN). However, international students usually don't have an SSN, and getting an ITIN can be difficult as it requires a "valid tax reason" such as filing a US federal tax return.
- Firstcard® Secured Credit Builder Card with Cashback: This card was ranked as the Best Secured Card for International Students by Forbes Advisor.
- Capital One SavorOne Student Cash Rewards Credit Card: This card can be applied for with an ITIN and has no annual fee. Students can earn 3% cashback on purchases for dining, entertainment, streaming services, and grocery shopping.
- Capital One Quicksilver Rewards for Student: This card offers cash rewards and can be applied for with an ITIN.
- Discover it® Student Cash Back: This card does not accept ITINs but international students may qualify to receive an SSN. It offers a $0 annual fee and cashback rewards on every purchase.
It is important to note that while secured credit cards can help build credit history, it is recommended to keep credit utilization low and make timely payments. Additionally, international students can explore other options such as becoming an authorized user on someone else's credit card account or building credit with a credit builder loan.
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Student credit cards
To obtain a student credit card, you will likely need to provide proof of your student status, such as a current and unexpired student ID card, invoice from the college or university, or transcript. Some credit card issuers may also require a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). If you are an international student, you may need to use your student visa to help you get an SSN. Students with F-1 or other student visas may qualify for an SSN, but you may need to get authorization and have a job lined up first. A part-time job at your school or elsewhere may be enough to qualify you for an SSN and serve as proof of income. If you are unable to get an SSN, you may be able to request an ITIN from the Internal Revenue Service (IRS). Some credit card issuers will accept this in place of an SSN on card applications.
There are a variety of student credit cards available, each with its own unique features and perks. The Capital One Savor Student Cash Rewards Credit Card, for example, offers 3% cash back on dining, entertainment purchases, eligible streaming services, and purchases at grocery stores, and 1% back on all other purchases. It also has a $0 fraud liability policy, no annual fee, and no foreign transaction fees. The Bank of America® Travel Rewards credit card for Students is another option, offering travel rewards for those with established credit. The Firstcard® Secured Credit Builder Card is a good choice for international students as it does not require a hard credit check.
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Building a credit history
As an international student in the US, building a credit history can be challenging, especially if you don't have a Social Security Number (SSN) or an established credit history in the country. However, there are several strategies you can employ to start building your credit score:
Get a Credit Card
One of the most effective ways to build credit in the US is by obtaining a credit card and using it responsibly. Some credit card issuers offer student credit cards specifically designed for college students, allowing them to build credit with rewards and benefits. You can explore options for student credit cards or secured credit cards, which may have lower barriers to entry and help you establish credit.
Become an Authorized User
If you know someone willing to add you to their credit card, becoming an authorized user is a simple way to build credit. As an authorized user, you will receive a credit card in your name, and your payment history will be reported to credit bureaus, helping you establish a credit score.
Get a Part-Time Job
Consider getting a part-time job, which can provide you with an income to qualify for better credit card terms and rewards programs. Additionally, a part-time job can help you obtain an SSN, which is often required for credit card applications.
Open a Bank Account
Opening a local bank account is crucial for establishing your credit profile in the US. While your transactions might not be reported to credit bureaus, maintaining a healthy financial history with a bank can increase your chances of obtaining credit from them in the future.
Make Regular Payments
Ensure that you make regular and timely payments on your expenses, such as rent, utilities, and phone bills. These payments demonstrate your financial stability and responsibility, which is essential for building a positive credit history.
Build Credit Without a Credit Card
If obtaining a credit card is challenging, you can still build credit by taking out a loan, such as a student loan or a credit-builder loan. Repaying your loan instalments on time will help establish your creditworthiness.
Remember, building credit takes time, and the length of your credit history is a significant factor in achieving a higher credit score. Start building your credit history as soon as possible during your time as an international student in the US to reap the benefits in the long run.
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Workarounds for international students
International students can get credit cards, but it can be challenging. Here are some workarounds for international students to get a credit card:
Get a Social Security Number (SSN)
Depending on an international student's status, they may be able to obtain an SSN. Most student and academic visas, such as F-1, J-1, Q-1, M-1, or Q2, allow for employment. A part-time job can qualify an international student for an SSN and serve as proof of income for getting a credit card.
Apply for an Individual Taxpayer Identification Number (ITIN)
If an international student does not qualify for an SSN, they can apply for an ITIN. An ITIN is an identification number for international guests and has the same number of digits and format as an SSN. International students can apply for an ITIN by submitting IRS Form W-7 to the Internal Revenue Service (IRS). Some credit card issuers accept ITINs in place of SSNs on credit card applications.
Become an Authorized User
An international student can become an authorized user on a trusted friend or family member's credit card. This option provides access to credit without the need for an SSN, ITIN, or credit score. As an authorized user, you will receive a credit card with your name on it, and any expenses will be charged to the account owner. However, it is important to arrange with the cardholder how you will use the card and pay for any charges. Becoming an authorized user helps build a credit history, which includes the primary cardholder's payment history and balances.
Open a U.S. Bank Account
Opening a U.S. bank account can help international students access credit cards. Some credit card issuers offer cards exclusively for students with a U.S. bank account.
Apply for a Student Credit Card
Student credit cards are designed for college students and offer rewards and the ability to build credit with responsible use. Some student credit cards only require a passport for application, while others may require an SSN or ITIN. International students with no previous credit may qualify for cards like the Petal Card, which creates a 'money score' to determine creditworthiness based on income and expenses.
Apply for a Secured Credit Card
Secured credit cards are another option for international students without a U.S. credit history. These cards are backed by collateral, usually a security deposit from the cardholder, which serves as the credit limit. Secured credit cards can be used like any other credit card, and monthly payments are reported to major credit bureaus, helping build a credit score.
Get a Part-Time Job
Increasing income can give credit card issuers assurance that an applicant can pay their bills. A part-time, on-campus job can improve an international student's chances of credit card approval and help build a financial profile.
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Frequently asked questions
Yes, international students can open a credit card in the US, although it may take some work.
To apply for a credit card in the US, you will usually need a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN). Some credit card companies will also accept a passport or visa. You will also need to prove that you are creditworthy by demonstrating that you have a source of income.
There is no single best credit card for international students. However, some cards that international students can qualify for include the Deserve Edu card, the Discover It student card, and the Capital One Quicksilver Student card.
There are several ways to build your credit score as an international student. You can open a US bank account, establish credit with new credit reporting tools, or become an authorized user on someone else's credit card.
Having a credit card as an international student can help you establish a US credit score, which can improve your qualifications for renting a home, applying for a job, or taking out a loan.
