Lana Oconnell
As an international student, you may want to get a credit card to build a local credit history, which can be useful for future loans and access to credit. While you will usually need a Social Security Number (SSN) and a US credit history to get a credit card, some providers have alternative application options. For example, you may be able to apply with an Individual Taxpayer Identification Number (ITIN) or by becoming an authorized user on someone else's account. Some of the best credit cards for international students include the Discover it Student Cash Back card, the Capital One Savor Student Cash Rewards Credit Card, and the Bank of America Travel Rewards Card.
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What You'll Learn
Credit cards without an SSN
Typically, a Social Security Number (SSN) is required to apply for a credit card in the United States. However, international students can face challenges in obtaining an SSN and thus may need to explore alternative options for obtaining a credit card. One alternative is to apply for a credit card using an Individual Taxpayer Identification Number (ITIN) instead of an SSN. Most international students can apply for an ITIN, which can then be used to apply for credit cards with certain lenders. Capital One, for example, accepts ITINs for most of its credit cards, including the Capital One Savor Student Cash Rewards Credit Card, which offers 1-8% cashback on purchases and has no annual fee.
Another option is to apply for a credit card with your passport. Bank of America, for instance, allows international students to apply for certain credit cards, such as the Bank of America Travel Rewards Card, with either an ITIN or a passport. This card has no annual or foreign transaction fees and offers unlimited 1.5 points for every dollar spent on purchases, which can be used for travel-related expenses. Similarly, Citibank and Discover also offer credit cards for international students without an SSN. Discover's Student Cash Back card allows students to earn up to 5% cashback on their spending, while the Chrome for Students card offers 2% cashback on specific spending categories.
Additionally, Zolve offers comprehensive benefits, an easy application process without an SSN, and high cashback rewards. The Deserve Edu Mastercard is another option that does not require an SSN and is designed specifically for international students. It is important to note that the eligibility requirements and application processes may vary by issuer, but generally include proof of identity, proof of enrolment in a US institution, and sometimes an ITIN.
While obtaining a credit card without an SSN is possible, it may be more challenging and have limited options. Building a solid US credit history is crucial for future financial endeavours, and a good starting point is to begin with a secured credit card and gradually build your credit score.
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Secured credit cards
International students in the U.S. may qualify for credit cards, which offer the opportunity to build a U.S. credit history. This can be valuable for future financial needs like student loans, auto loans, or apartment rentals.
Some credit card issuers provide cards exclusively for students that only require a passport for the application. However, if you are unable to get a credit card in the U.S., you can ask a trusted friend or family member to add you to their existing credit card as an authorized user.
If you have no credit or bad credit, you can consider applying for a secured credit card. Secured credit cards require you to put down a security deposit that serves as your credit line. This deposit amount is usually equal to your credit limit, so you will need to put down a $500 deposit for a $500 line of credit. This deposit is not a pre-payment, so your money will remain untouched and earn interest as long as you pay your bills. Your best option for a bank providing a secured credit card will likely be near your school, serving other students.
Some examples of secured credit cards include the Firstcard® Secured Credit Builder Card with Cashback, the Discover it Secured Card, the U.S. Bank Altitude® Go Visa® Secured Card, the Citi® Secured Mastercard®, and the Bank of America® Customized Cash Rewards credit card for Students.
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Student credit cards
International students can get credit cards, but they often need an Individual Taxpayer Identification Number (ITIN) or a Social Security Number (SSN). International students may want to apply for a credit card before graduation, as it can be more difficult to be approved for a standard, non-student version of a credit card after graduating.
Some credit cards for international students include:
- Discover it Student Cash Back card: No annual fee, earn up to 5% cashback on purchases, and reports to major credit bureaus, helping build a strong credit history.
- Discover Chrome for Students card: Earn 2% cashback on specific purchases, such as fuel and eating out.
- Capital One Savor Student Cash Rewards Credit Card: No annual fee, earn 3% cashback on purchases for dining, entertainment, streaming services, and groceries.
- Capital One Quicksilver Student Cash Rewards Credit Card: Get 1.5% cashback on every purchase and pay no annual fee.
- Zolve: Offers 1% cashback on all purchases, an Amazon Prime Student subscription reimbursement, and a range of financial services tailored to support international students.
- Chase Freedom Student Credit Card: One of the best available APRs at 17.99%, free access to your credit score, a limit increase if you pay on time, and a $20 bonus if you keep your account in good standing.
- Bank of America Travel Rewards Card: No annual fee, no foreign transaction fees, and rewards on spending.
- American Express: May be able to use your local credit history from your home country.
- Firstcard Secured Credit Builder Card with Cashback
- Bank of America Cash Rewards for Students: $200 initial bonus for purchases of at least $1,000 in the first 90 days, and 3% cashback in categories such as gas, online shopping, dining, travel, drug stores, and home improvement.
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Credit cards for international travel
International students can get credit cards, but there are usually more limited options. It is recommended that international students apply for a credit card before graduating, as eligibility requirements may change post-graduation.
Some credit cards require a Social Security Number (SSN), but there are options for those who don't have one. For example, international students can get a credit card with an Individual Taxpayer Identification Number (ITIN) instead of an SSN. This is offered by Bank of America, Capital One, and Petal 2.
Some other credit cards that do not require an SSN include:
- Discover it Student Cash Back
- Chrome for Students
- Chase Freedom Student Credit Card
- Zolve
- Firstcard® Secured Credit Builder Card with Cashback
- U.S. Bank Altitude® Go Visa® Secured Card
- Citi® Secured Mastercard®
Additionally, international students can consider getting a secured credit card, which requires a security deposit that acts as collateral for the credit line. This can help build credit history and may be a good option for those who don't have an SSN or ITIN.
It is also suggested that international students open a U.S. bank account, which can help establish a financial relationship and increase the chances of getting approved for a credit card.
When choosing a credit card, it is important to consider the benefits and rewards offered, such as cashback, travel points, or low foreign transaction fees.
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Building a credit score
International students in the U.S. may qualify for credit cards, which offer the opportunity to build a U.S. credit history. This can be valuable for future financial needs like student loans, auto loans, or apartment leases. While it is advisable to have a U.S. bank account as an international student, this alone will not impact your credit score. However, having a bank account can help you manage your finances effectively and make timely payments, which is crucial for building credit.
As an international student in the U.S., you will not have a U.S. credit score unless you actively build one. Your credit history from another country does not carry over, so it's essential to start establishing a U.S. credit history as soon as possible. Here are some steps to build your credit score:
- Get a Credit Card: One of the easiest ways to build credit is by using a credit card responsibly. Credit cards are widely used in the U.S., and having one can help you make daily purchases and build your credit history. Make sure to pay off your charges each month or week to maintain a good credit score.
- Secured Credit Cards: If you're just starting, consider applying for a secured credit card. These cards require a security deposit that serves as your credit line. Your deposit remains untouched and earns interest as long as you pay your bills.
- Report Your Rent: In the U.S., rent payments are not automatically included in your credit report. However, you can now register with Experian to ensure your off-campus housing costs count towards your credit score.
- Become an Authorized User: Another way to build credit is by becoming an authorized user on someone else's credit card. Ensure you have a conversation about responsibility and timely payments with the primary cardholder.
- Student Credit Cards: As an international student, you may qualify for student credit cards, which can be a good option for building credit. Some cards, like the Discover it® Student Cash Back, don't require a credit score to apply.
- Build Credit History Early: The length of your credit history is a significant factor in achieving a higher credit score. Start building your credit history early to reap the benefits in the long run.
- Make Timely Payments: Ensure you make all your payments on time, as payment history is a crucial factor in determining your credit score. Set up automatic payments to avoid missing due dates.
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Frequently asked questions
Here are some credit cards that are suitable for international students:
- Discover it® Student Cash Back
- Capital One SavorOne Student Cash Rewards Credit Card
- Capital One Quicksilver Student Cash Rewards Credit Card
- Bank of America Travel Rewards Card
- Chase Freedom Student Credit Card
- Petal 2 Visa Card
Getting a credit card as an international student can help you build a local credit history, which can be valuable for future financial needs like loans, renting apartments, or even job applications. It can also be a good safety net in case of emergencies.
The requirements for getting a credit card as an international student may vary, but typically you will need to provide proof of income, such as a part-time job, or a co-signer. Some cards may require an SSN or Individual Taxpayer Identification Number (ITIN), while others may accept a student ID, passport, or visa. It is also recommended to open a U.S. bank account and build a positive credit history before applying for a credit card.
