As students increasingly travel abroad for education or internships, an international credit card can be invaluable for managing expenses, building credit, and offering security. This guide explores the benefits of an international student credit card, how to choose one, and the top credit cards tailored to students studying abroad.
What is an International Credit Card for Students?
An international credit card for students is designed to make managing expenses abroad easier and safer. These cards are accepted globally, usually by any merchant that accepts major credit card networks (e.g., Visa, Mastercard), and often come with added benefits like lower foreign transaction fees, rewards, and student-specific perks.
Key Benefits of a Student International Credit Card
1. Global Acceptance
- International credit cards are accepted in most countries, making them convenient for daily expenses like food, transportation, and supplies.
2. Currency Conversion Benefits
- Many cards offer low or no foreign transaction fees, making it easier to manage costs without hidden charges from currency conversions.
3. Emergency Financial Backup
- Credit cards provide financial flexibility in emergencies, whether for unexpected travel, medical expenses, or academic needs.
4. Credit Building
- Responsible use of a credit card can help students build a solid credit history, which is beneficial for future financial goals.
5. Security Features
- Credit cards often have fraud protection and zero-liability policies, ensuring that students aren’t responsible for unauthorized charges.
Features to Look For in an International Student Credit Card
| Feature | Description |
|---|---|
| Low Foreign Transaction Fees | Look for cards with minimal or no fees on international purchases. |
| Rewards Program | Many cards offer cash back or points for purchases, which can offset some costs. |
| Student-Friendly Approval | Cards with flexible approval criteria are ideal for students with limited credit history. |
| Emergency Assistance | Some cards provide emergency cash advances and support if the card is lost or stolen. |
| Introductory APR and Fees | Cards with low or 0% introductory APR can reduce the cost of short-term borrowing. |
| Travel Benefits | Some student cards offer perks like free checked bags or discounts on flights. |
Top International Credit Cards for Students
1. Deserve EDU Mastercard for Students
| Feature | Details |
|---|---|
| Foreign Transaction Fee | None |
| Rewards | 1% cash back on all purchases |
| Credit History Requirement | None required |
| Additional Benefits | Amazon Prime Student credit (upon spending $500 in the first 3 months) |
Overview: Deserve EDU is ideal for students without a credit history and offers 1% cashback on purchases, plus perks like a free year of Amazon Prime Student.
2. Bank of America Travel Rewards Credit Card for Students
| Feature | Details |
|---|---|
| Foreign Transaction Fee | None |
| Rewards | 1.5 points per dollar spent on all purchases |
| Credit History Requirement | Limited credit is acceptable |
| Additional Benefits | Introductory APR, no annual fee |
Overview: This card earns unlimited 1.5 points per dollar, which can be redeemed for travel expenses. It’s particularly beneficial for students who plan to travel frequently.
3. Capital One Journey Student Rewards Credit Card
| Feature | Details |
|---|---|
| Foreign Transaction Fee | None |
| Rewards | 1% cash back on all purchases, with a 0.25% bonus for timely payments |
| Credit History Requirement | Limited credit is acceptable |
| Additional Benefits | Credit limit increase after 6 months of responsible use |
Overview: This card encourages good payment habits by rewarding on-time payments with extra cashback. With no foreign transaction fees, it’s a practical choice for students abroad.
4. Discover it® Student Cash Back
| Feature | Details |
|---|---|
| Foreign Transaction Fee | None |
| Rewards | 5% cash back on rotating categories (e.g., gas stations, dining) and 1% on other purchases |
| Credit History Requirement | None required |
| Additional Benefits | Cashback match for the first year, no annual fee |
Overview: This card provides generous cash back on rotating categories, which can be particularly valuable for students with varied expenses. However, it’s important to check its international acceptance since Discover may not be as widely accepted in some countries.
5. Chase Freedom Student Credit Card
| Feature | Details |
|---|---|
| Foreign Transaction Fee | 3% on foreign transactions |
| Rewards | 1% cash back on all purchases |
| Credit History Requirement | None required |
| Additional Benefits | Credit limit increase upon account review |
Overview: This card has a small foreign transaction fee but offers consistent rewards on all purchases. It’s a good choice for students who need a dependable card with opportunities to build credit responsibly.
Frequently Asked Questions (FAQs)
Q: Can international student credit cards help build credit history?
A: Yes, using a credit card responsibly helps build credit history, which can be beneficial when applying for loans or larger credit lines in the future.
Q: Are there any additional charges with international credit cards?
A: Some cards may have foreign transaction fees or annual fees, so it’s essential to check the terms before applying.
Q: Can international student credit cards be used anywhere?
A: Most major cards (Visa, Mastercard) are widely accepted worldwide. However, acceptance may vary by region, especially for cards like Discover or American Express.
Q: Is a Social Security Number (SSN) required to apply?
A: Some student credit cards, like Deserve EDU, don’t require an SSN, which is advantageous for international students without one.
Q: What should I do if my card is lost or stolen while abroad?
A: Contact your card issuer immediately; most provide emergency assistance services, including card replacement or cash advances.
Conclusion
International credit cards for students offer financial convenience, security, and flexibility, making them a great choice for students studying abroad. With features like no foreign transaction fees, rewards, and credit-building opportunities, these cards provide practical benefits. When choosing a card, consider factors like transaction fees, rewards, credit requirements, and any additional benefits specific to your needs. With the right international student credit card, managing expenses abroad becomes more manageable and secure.
