Savanna Hoffman
As an international student, you may be able to get a credit card in the US, depending on your circumstances and the credit card issuer's policies. While it can be challenging, there are several options available to international students looking to apply for a credit card. This includes getting an Individual Taxpayer Identification Number (ITIN) or Social Security Number (SSN), opening a US bank account, and becoming an authorized user on someone else's account. Additionally, having a steady source of income, providing proof of income, and having a US permanent address will boost your chances of being accepted.
| Characteristics | Values |
|---|---|
| Social Security Number (SSN) | Required by most credit card companies, but some allow applications without an SSN. |
| Individual Taxpayer Identification Number (ITIN) | Can be used in place of an SSN for some credit card applications. |
| Credit History | A positive credit history may be necessary for approval. |
| Age | If under 21, an adult co-signer or proof of ability to repay debts may be required. |
| Income | A steady source of income will boost your chances of being accepted. |
| Bank Account | Having a U.S. bank account can help with approval. |
| Passport | Some credit card companies issue cards to students with a passport. |
| Visa | Students with an F-1 or other student visas may qualify for an SSN. |
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What You'll Learn
Passport
As an international student, you may face challenges when applying for your first credit card in the US. Most credit card companies will require you to have a Social Security Number (SSN) to open a credit card account. However, there are some companies that will allow international students to open one without an SSN. In such cases, you may need to provide your passport details.
A passport can be used as a form of identification when applying for a credit card, especially if you do not have an SSN or an Individual Taxpayer Identification Number (ITIN). Some credit card companies issue cards exclusively for students with a passport. This is a good option for those who do not plan to stay in the US long-term but want to use credit to pay for expenses.
To apply for an SSN, you must have employment in the US. For off-campus employment, you will need authorization from the Department of Homeland Security. You will need to complete an Application for a Social Security Card (Form SS-5) and show documents proving your work-authorized immigration status, age, and identity. Obtaining an SSN can take up to four weeks.
If you are not eligible for an SSN, you can apply for an ITIN from the Internal Revenue Service (IRS) by submitting IRS Form W-7. This can take up to seven weeks. With an ITIN, you can apply for a credit card with certain issuers.
It is important to note that having a passport, SSN, or ITIN does not guarantee approval for a credit card. Credit card issuers will also consider other factors, such as your credit history, income, and ability to repay debts.
Therefore, as an international student, if you do not have an SSN or ITIN, you can explore the option of applying for a credit card with your passport. Be sure to compare the requirements and perks offered by different credit card companies to find the best option for your needs.
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Proof of income
International students often face challenges when applying for their first credit card in a new country. One of the biggest obstacles is the lack of a credit history in the country they are applying in. Another common challenge is the requirement for a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN) for credit card applications, which international students might not have.
To overcome these challenges, international students can consider the following options:
When it comes to proof of income, international students can include the following in their credit card applications:
- Part-time jobs: If you are working part-time, whether on-campus or off-campus, be sure to list this as a source of income. Include any relevant details such as the number of hours worked or your monthly earnings.
- Assistantships: If you are receiving compensation for any assistantships, such as teaching or research assistantships, include this as part of your income.
- Student loan funding: Any student loans or financial aid you receive can also be considered as income. Include the relevant details and, if possible, provide financial aid award letters or other supporting documents.
- Bank statements: It is in your best interest to provide bank statements that show regular deposits. This demonstrates financial stability and the ability to make consistent payments.
By providing comprehensive information about your sources of income, you can strengthen your credit card application and improve your chances of approval. Remember to carefully review the requirements and guidelines provided by the credit card issuer to ensure you are submitting all the necessary documentation.
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Bank statements
As an international student, you may not have a U.S. credit history, which makes the application process for a credit card more challenging. One way to start building credit is by opening a U.S. bank account. This establishes a monetary base in the U.S. and signals to lenders that you have a source of income. It may also be easier to apply for a credit card with the same bank.
When opening a U.S. bank account, you will need to provide certain documents. While the specific requirements may vary depending on the bank, here are some general guidelines:
- Proof of income: Bank statements that show regular deposits can work in your favor when applying for a credit card. This can include listing any part-time jobs, assistantships, or student loan funding you receive. You can also include financial aid award letters if applicable.
- Transaction history: Your transaction history can provide evidence of your financial responsibility and ability to manage your finances. Regular deposits and timely payments can reflect positively on your application.
- Account activity: Maintaining a positive balance and demonstrating responsible financial behavior through your bank statements can enhance your creditworthiness. Lenders may evaluate your spending patterns, income sources, and overall financial stability.
- Account type: The type of bank account you hold can also be a factor. Having a checking account or a savings account at a U.S. bank demonstrates your commitment to financial management and can improve your chances of credit card approval.
- Account duration: The length of time you have held your bank account may be considered. A longer history with your bank can showcase stability and strengthen your credit card application.
- Account diversity: Having multiple accounts, such as checking and savings accounts, can provide a more comprehensive view of your financial habits and enhance your overall application.
By providing bank statements and other supporting documents, international students can take the first steps toward establishing their financial profiles and increasing their chances of obtaining a credit card in the U.S.
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Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)
International students may be able to get a credit card in the US, depending on their circumstances and the credit card issuer's policies. While most credit card companies will require a Social Security Number (SSN) to open a credit card account, there are some companies that will allow international students to open one without an SSN.
An SSN is a unique ID number assigned to people authorized to work in the US. It is used to report wages to the government and determine eligibility for Social Security benefits. International students with an F-1, M-1, or J-1 student visa who are authorized to work in the US can apply for an SSN. To apply, students must complete an Application for a Social Security Card (Form SS-5) and show documents proving their work-authorized immigration status, age, and identity. Approval for an SSN can take up to four weeks.
If an international student is not eligible for an SSN, they can apply for an Individual Taxpayer Identification Number (ITIN). An ITIN is a tax processing number issued by the Internal Revenue Service (IRS) to individuals who do not have an SSN and are not eligible to obtain one. It is typically used for tax purposes, but some credit card issuers will accept an ITIN for a credit card application if the applicant does not have an SSN. To apply for an ITIN, individuals must submit IRS Form W-7. Approval for an ITIN can take up to seven weeks.
It is important to note that, in addition to an SSN or ITIN, credit card issuers will also consider an applicant's credit history and income when evaluating a credit card application. International students may not have a US credit history, which can make it more difficult to get approved for a credit card. In such cases, students may consider alternative options such as becoming an authorized user on someone else's credit card account, applying for a secured credit card, or taking out a credit builder loan.
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Student visa
International students on a student visa face several challenges when applying for their first credit card in the US. The process is more difficult for them compared to working professionals. Most credit card companies will require a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN) to apply for a US credit card. However, international students can overcome this hurdle by taking the following steps:
Students with F-1 or other student visas may qualify for an SSN. However, they may need to get authorization and have a job lined up first. A part-time, visa-approved job at their school or elsewhere may be enough to qualify them for an SSN. Their student adviser or school's international student services office may be able to help them determine their eligibility.
Individual Taxpayer Identification Number (ITIN)
If an international student is not eligible for an SSN, they can apply for an ITIN. This number follows the same nine-digit format as an SSN and can be used in place of an SSN on credit card applications. To request an ITIN, students can submit IRS Form W-7 to the Internal Revenue Service (IRS). Some credit card companies, such as Capital One, offer cards that students can apply for with an ITIN, including the SavorOne Student Cash Rewards Credit Card and the Quicksilver Rewards for Student card.
Passport
Some credit card issuers may also accept a passport in place of an SSN or ITIN.
Secured credit card
International students can also build their credit history by applying for a secured credit card, which does not require a pre-existing credit score. After six to twelve months of responsible usage, they may have enough credit history to get an unsecured credit card.
Authorized user
Another option for international students is to become an authorized user on someone else's credit card account. This allows them to build their credit history without needing an SSN or ITIN. However, it is important to choose a primary cardholder with good credit habits, as their activity will impact the authorized user's credit score.
Overall, while there are challenges for international students on student visas when applying for a credit card in the US, there are several options available to them. By carefully reviewing the requirements of different credit card issuers and taking steps to build their financial profile, international students can successfully obtain a credit card.
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Frequently asked questions
The major requirement that banks have for applying for a credit card in the US is a Social Security Number (SSN). However, some issuers will accept an Individual Taxpayer Identification Number (ITIN) or even a visa.
If you don't have an SSN or ITIN, you can become an authorized user on someone else's credit card account, which precludes the need for an SSN or ITIN with some banks. You can also find credit card companies that issue cards exclusively for students with a passport.
Generally, you will need to provide proof of income, such as a part-time job, assistantship, or student loan funding. You may also include financial aid award letters if applicable. Bank statements that show regular deposits will also work in your favour. Additionally, you will need to provide a permanent address, which can be your school address.
Some recommended credit cards for international students include student credit cards, secured credit cards, and prepaid credit cards. Some companies that offer credit cards for international students include Discover, Capital One, Bank of America, and Deserve.
