Lana Oconnell
International students face several challenges when it comes to obtaining a credit card in the U.S. or Canada. While some credit card companies require a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), others accept alternative forms of identification, such as a passport. Additionally, international students may struggle to meet the income and credit score requirements of certain credit cards. American Express, for instance, typically requires a credit score of at least 670 and a year of credit history. However, American Express offers several benefits, including no annual fees, high rewards, and wider acceptability compared to some other payment networks. For international students in Canada, American Express is a viable option after starting with an entry-level card from one of the Big 5 banks.
| Characteristics | Values |
|---|---|
| American Express Student Credit Cards | No student credit cards available |
| Alternatives | Students with a good credit score can apply for a traditional Amex unsecured credit card |
| Credit Score Needed | FICO score of 670 or higher |
| International Students in the US | Need a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) or know someone willing to add them as an authorized user |
| International Students in Canada | Many opportunities with the Big 5 banks, followed by American Express |
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What You'll Learn
American Express requirements
American Express (Amex) does not offer any student credit cards. However, students with a good credit score can apply for a traditional Amex unsecured credit card. A FICO score of 670 or higher is required, which may be challenging for most college students to attain.
International students can obtain an Amex card, but the process is not straightforward. Here are the requirements and steps to get an Amex card as an international student:
Build a Financial Profile
Before applying for any credit card, international students should start building their financial profile. This includes putting utility bills in their name if the utility company reports payments to credit bureaus. Additionally, speaking with the international student affairs office at their educational institution is recommended. They can advise on eligibility for on- or off-campus jobs, which determines eligibility for a Social Security Number (SSN).
Obtain a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)
A Social Security Number is often required to apply for credit cards in the United States. International students can apply for an SSN if they are eligible for on- or off-campus jobs. This process can take up to four weeks. If an individual is not eligible for an SSN, they can apply for an ITIN, which can take up to seven weeks. Some credit card companies, like Capital One, accept an ITIN for credit card applications.
Build Credit History
Credit cards are essential for long-term stays and building credit. International students can start building credit history by opening a checking account at a U.S. bank. This demonstrates financial assets in the country to credit card companies. It is also recommended to apply for a secured credit card, which requires a deposit that becomes the cardholder's credit limit. This type of card can be used like a regular credit card and helps build credit history.
Apply for an Amex Card
After building a financial profile, obtaining an SSN or ITIN, and establishing some credit history, international students can apply for an Amex card. Amex typically requires about a year of credit history before approving a first card. The American Express Cobalt Card, American Express Gold Rewards Card, and American Express Aeroplan Card are good options for students with effective welcome bonuses and annual fees.
It is important to note that the process of obtaining an Amex card as an international student may vary depending on the country of residence and the specific requirements of American Express.
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International student options
International students can face challenges when trying to get an American Express card. While it is possible for international students to obtain one, American Express usually asks for about a year of credit history before approving a first card. This can be difficult for international students to achieve, as they may not have a Social Security Number (SSN) or credit history in the US. However, there are still some options for international students to get an American Express card or an alternative credit card.
One option is to build a financial profile and credit history in the US. International students can start by speaking with the international student affairs office at their educational institution to determine their eligibility for an SSN or an Individual Taxpayer Identification Number (ITIN). They can also open a checking account at a US bank, which may make it easier to apply for a credit card with the same bank later on. Putting utility bills in their name can also help build a responsible financial history, as long as the utility company reports payments to credit bureaus.
Another option is to apply for a secured credit card, which does not require a US credit history. Some international students may be approved for an entry-level secured credit card from one of the big banks without any prior credit history. Secured credit cards require a deposit, which becomes the cardholder's credit limit, and can be used like a typical credit card for purchases within that limit.
In Canada, international students have additional options. They can start by getting a credit card from one of the Big 5 banks and then, after about a year, move on to American Express. American Express cards such as the American Express Cobalt Card, American Express Gold Rewards Card, and American Express Aeroplan Card are good options for international students due to their effective welcome bonuses and spend multipliers that suit a student lifestyle.
Additionally, some credit card companies in the US accept an ITIN or a passport for identification instead of an SSN. For example, international students can apply for the Capital One SavorOne Student Cash Rewards Credit Card or the Capital One Quicksilver Rewards for Student Rewards with an ITIN. The Petal 2 Visa card is another option that accepts ITINs, but it is only available in the US. Citibank also offers student credit cards that do not require an SSN.
It is important to note that while American Express does not have any student credit cards, students with a good credit score can apply for a traditional Amex unsecured credit card. However, even the easiest American Express credit card requires a credit score of at least 670, which may be challenging for most college students to achieve. Discover it® offers student credit cards that are easy to get and have high rewards, with no annual fee or minimum credit requirement.
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Building a financial profile
International students can face challenges in obtaining a credit card, but it is not impossible. While American Express does not offer any student credit cards, international students can still explore other options to build their financial profile and eventually apply for an American Express card. Here are some steps to achieve that:
Check Your Eligibility for an SSN or ITIN
Before applying for a credit card, international students should assess their eligibility for a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). The international student affairs office at their educational institution can provide guidance on this matter. Obtaining an SSN or ITIN is crucial for building a financial profile and applying for credit cards.
Open a Checking Account
Opening a checking account at a U.S. bank is an essential step. It demonstrates to credit card companies that the applicant has monetary assets in the country. Additionally, it may simplify the process of applying for a credit card with the same bank in the future.
Build Credit History
International students can start building a credit history by putting utility bills in their name. If the utility company reports payments to credit bureaus, this strategy helps establish a responsible financial history. Students can also explore secured credit cards, which require a deposit that becomes the cardholder's credit limit. Using these cards responsibly can help build a positive credit history.
Explore Student Credit Cards
Student credit cards are specifically designed for young college students applying for their first credit card. These cards often come with benefits like no annual fees and cashback rewards. Discover it® Student Cash Back Credit Card is highly rated for students as it has no annual fee, offers cashback rewards, and does not require a minimum credit score.
Build a Relationship with Your Bank
When applying for a credit card, it is advantageous to have a relationship with your banker, especially if you have assets with the bank. This can increase your chances of approval and help you access exclusive opportunities.
Explore American Express Options
After establishing a credit history and building a financial profile, international students can explore American Express cards. The American Express Cobalt Card, Gold Rewards Card, and Aeroplan Card are approachable options with effective welcome bonuses and annual fees. However, American Express typically requires a credit score of at least 670 and a year of credit history.
By following these steps, international students can gradually build their financial profile, gain access to credit cards, and eventually become eligible for American Express cards. It is important to be diligent, patient, and informed throughout this process.
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Credit history and score
Credit scores are a rating given to your financial background when assessed by a lender. When you’re applying to borrow money (for example, through a loan or credit card), the lender will most likely look at your credit score to see whether you are eligible. Your credit score sums up how much of a financial risk you would be if you were loaned money.
It is challenging for international students to get a credit card, but there are a few options. While most credit card companies require a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), some issuers accept alternative forms of identification. However, even with alternative identification, you would still need to meet the minimum qualification requirements, which could include checking your credit history.
Credit history is an important consideration for credit card issuers. International students and other non-U.S. citizens may be "credit invisible", meaning that there is a lack of information to reassure credit card issuers that they are able to repay their debt. However, if you have established credit in your home country, you might be able to transfer your foreign credit history.
It is important to note that it takes time to establish credit in the U.S. as an international student. The length of your overall credit history is a primary factor in getting a higher credit score. It usually takes six months or so of financial activity in the U.S. to generate a FICO score, which is the most common measurement used to identify your credit rating inside the U.S. Having a longer history can help improve your score.
There are several ways to build your credit score as an international student in the U.S. One of the easiest ways is to use a credit card responsibly. This can be challenging for international students, but there are a few options. You can apply for a secured credit card or a credit-builder loan until you raise your credit score. You can also become an authorized user on a friend or family member's credit card in the U.S. Additionally, you can put utility bills in your name if the utility company reports payments to credit bureaus.
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Alternatives to American Express
International students can generally obtain a credit card, but it can be difficult. To get a credit card, international students should first build a financial profile. This can be done by speaking with the international student affairs office at their educational institution, who can inform them of their eligibility to get an on- or off-campus job, which determines their eligibility to apply for a Social Security Number (SSN). If an individual is not eligible for an SSN, they can apply for an Individual Taxpayer Identification Number (ITIN).
Once they have an SSN or ITIN, international students can start building credit. This can be done by opening a checking account at a U.S. bank, which tells a credit card company that the applicant has monetary assets in the country. It may also be easier to apply for a credit card later with the same bank. Another way to build credit is to put utility bills in your name if the utility company reports payments to credit bureaus.
American Express does not have any student credit cards, but students with a good credit score can apply for a traditional Amex unsecured credit card. However, even the easiest American Express credit card requires a credit score of at least 670, which may be challenging for most college students to attain.
- Discover it® Student Cash Back Credit Card: This card is rated highly for students, especially those just starting their financial journey, as it does not require a minimum credit score to apply. It also has no annual fee and offers various cash-back rewards.
- Bank of America® Unlimited Cash Rewards: This card offers unlimited 1.5% cash back on all purchases, with no expiration date, and can be redeemed in multiple ways. It also has a points reward system that awards 1.5 points for every $1 spent.
- CIBC Aventura Student Card: This is a rare no-annual-fee card that includes car insurance.
- Wells Fargo Propel American Express® Card: This card offers unlimited 3X points per dollar on gas purchases, as well as 3X points on other travel purchases like airfare and hotel stays.
For students seeking premium travel credit cards, the Platinum Card by American Express is one of the most well-known and sought-after options. However, its $695 annual fee may be a deterrent for some. Here are some alternatives to the Platinum Card:
- Chase Sapphire Reserve: This card has an annual fee of $550 and is the closest competitor to the Platinum Card. It offers a welcome bonus of 100,000 Ultimate Rewards points and $500 Chase Travel promo credit after spending $5,000 in purchases within the first three months. It offers 5x points on flights booked through Chase Travel and 10x points on hotels and car rentals purchased through the program.
- Citi AAdvantage: This card is best for those who prefer to travel with American Airlines. While the points earnings are better with the Platinum Card, the Citi AAdvantage card has a lower annual fee.
- Mastercard Black Card: This card has an annual fee of $495 and offers 1x points for every dollar spent in most categories. You'll get 2% value when you redeem for airfare and 1.5% value for cash back redemptions. It also includes Priority Pass Select, giving you access to over 1,300 lounges in over 500 cities worldwide.
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Frequently asked questions
Yes, international students can get an American Express card. However, American Express usually asks for about a year of credit history and a credit score of at least 670 for approval. International students can build their credit history by getting a job, signing a lease, putting utility bills in their name, or getting a secured credit card.
American Express cards offer relevant rewards and have flexible eligibility requirements. They are also widely accepted nationally and internationally. Additionally, they can help establish a good credit history.
American Express cards may have limited acceptability in some countries. They also have high income requirements and a chance of overspending due to their high credit limits.
