Credit Cards For International Students: Eligibility And Application

International students face several challenges when seeking credit cards in the US. Most applications require a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN), and not many international students are eligible for these. However, some credit card issuers accept ITINs, and some even accept visas. International students can also apply for credit-builder loans or secured credit cards, which do not require a credit history. Additionally, students can become authorised users on someone else's account or apply for student credit cards, which are designed for those with limited or no credit history.

International students can apply for a credit card with an SSN or ITIN

International students can face a number of challenges when seeking credit in the US. The majority of credit card applications require an SSN or ITIN, and not all international students will be eligible for these. However, there are options for international students to get a credit card in the US without an SSN.

SSN

International students who are eligible for an SSN can access most credit cards. Students on F-1 or M-1 visas with permission to work in the US from the Department of Homeland Security (DHS) can apply for an SSN. They will need to provide documents that show their work-authorised immigration status, age, and identity. F-1 or M-1 students must also provide Form I-20, which is a Certificate of Eligibility for Nonimmigrant Student Status. Students who work on campus are also required to submit a letter from their school confirming their current school status and their employment. Evidence like a recent payslip or a signed appointment letter must also be submitted.

ITIN

International students who are not eligible for an SSN can apply for an ITIN instead. An ITIN is a tax identification number from the IRS (Internal Revenue Service). To be eligible, you will need a "valid tax reason for needing an ITIN", such as filing a US federal tax return or being a dependent or spouse of a US citizen. To apply for an ITIN, you will need to submit Form W-7, a certification letter, a copy of your identity document, a copy of your foreign status document, and a copy of Form I-20.

Passport

Some credit card issuers will allow international students to apply for a credit card with their passport. Examples of lenders that may issue a student card based on your passport include Deserve® EDU and Bank of America.

Becoming an Authorised User

Another option for international students to get access to credit is to become an authorised user on someone else's credit card. A cardholder can add an eligible user with an SSN or ITIN to their credit account as an authorised user, without relying on the authorised user's credit score. As an authorised user, you will receive a credit card with your name on it, and any expenses made will be charged to the account owner.

Foreign credit history can be used in some cases

International students in the US can use their foreign credit history to apply for US credit cards, loans, housing, and more. Nova Credit is a cross-border credit bureau that allows newcomers to apply for US credit cards, phone plans, and loans using their foreign credit history. Nova Credit has partnered with American Express to help newcomers to the US use their foreign credit history from Australia, Canada, India, Mexico, and the UK to apply for Personal Cards. Nova Credit's lending partners will report credit performance to at least one of these credit bureaus: Experian, Equifax, and TransUnion. Over time, you will build your US credit history, improve your credit score, and be able to apply for a wider variety of products.

Additionally, some credit card issuers provide cards exclusively for students that only require a passport to submit an application. This can be a good option for students who don't plan on staying in the US long-term but want to build their credit. If you are unable to get a credit card in the US, you can ask a trusted family member or friend to add you to their existing credit card as an authorized user. Some credit card issuers may report the payment history of the credit card to credit bureaus for both the cardholder and the authorized user.

Becoming an authorized user on an existing account is an option

If you are an international student in the US, you can become an authorized user on an existing account. This is a good option if you don't have an SSN or ITIN, as it doesn't require a credit check. You will need to find a trusted friend or family member who is willing to add you to their account. The primary cardholder is responsible for any debts you accrue as an authorized user.

As an authorized user, you will receive a credit card with your name on it, and any expenses will be charged to the primary cardholder. This can be a good way to build your credit history, as some credit card issuers may report the payment history to credit bureaus for both the cardholder and the authorized user. However, it's important to note that not all issuers will report this information, and it may not affect your credit score.

If you are an international student with a steady income and plans to stay in the US, you may also qualify for a student credit card. These cards are designed for students with limited or no credit history and offer benefits such as modest rewards on dining, entertainment, and streaming services. You may also be able to apply for a US student credit card that only requires your passport or an Individual Taxpayer Identification Number (ITIN).

Secured credit cards are an option for students with no credit history

International students can face several challenges when seeking credit cards in the US. Most credit card applications require a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN), and not all international students will be eligible for these. Additionally, having a limited US credit history can make it difficult to get approved for a credit card.

One option for international students with no credit history is to apply for a secured credit card. Secured credit cards are designed to help individuals build their credit history and are often accessible to those without a credit history. They share many benefits with student cards, such as the chance to earn rewards and the availability of low introductory APR rates. They also provide an opportunity to build credit through responsible usage.

To apply for a secured credit card, you may not need an SSN or ITIN, as some card issuers will allow applicants to use their passport instead. Examples of secured credit cards include the Firstcard® Secured Credit Builder Card with Cashback and the Discover it® Secured Credit Card. The Discover it® Secured Credit Card offers a $0 annual fee and rewards cardholders with 2% cash back at gas stations and restaurants (up to $1,000 spent each quarter combined) and 1% back on all other purchases.

It is important to note that secured credit cards often have higher interest rates and lower credit limits compared to standard credit cards. Additionally, applicants for secured credit cards need to make a refundable security deposit to secure their line of credit.

A part-time job can help qualify for an SSN or ITIN

International students can apply for a credit card in the US, but it can be a challenging process. Most credit card applications require a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN). An SSN is a requirement for legal employment in the US, and it is issued to citizens, permanent residents, and temporary (working) residents. International students are not eligible for an SSN unless they have work authorization, which may be possible through on-campus employment.

This is where a part-time job can help. Working a part-time job as a student can help qualify for an SSN, as it provides proof of income. Depending on the student visa, international students may be able to secure part-time employment, which can then qualify them for an SSN. This, in turn, can be used to apply for a credit card.

However, if an international student is unable to obtain an SSN, they may be able to request an ITIN. An ITIN is issued by the Internal Revenue Service (IRS) for tax reporting purposes, allowing individuals who are not eligible for an SSN to comply with US tax laws. While an ITIN does not authorize employment, it can be used for other purposes such as opening a bank account and applying for a credit card. Some credit card issuers will accept an ITIN for a credit card application if the applicant does not have an SSN.

Therefore, a part-time job can help international students qualify for an SSN, which can be a crucial step in building credit history and improving their chances of getting approved for a credit card. Additionally, if obtaining an SSN is not possible, a part-time job can still provide proof of income, which is another factor considered by credit card issuers during the application process.

Frequently asked questions