One of the most thrilling possibilities available to students at college is taking a semester abroad and immersing yourself in a completely new world.
Of course, as thrilling as it might be, living in a foreign location — even for a short period is not without some challenges. Not the least of which is dealing with new payment methods and currencies. A good credit cards for students studying abroad card will solve all of these issues.
For many American students at college, studying abroad is a way to mark their transition. In living in another country, students will gain more understanding and appreciation overtime for another culture and language instead of simply visiting.
In the case of most students, it will be their first introduction to travel on their own. A valid credit cards for students studying abroad is the crucial of all the things to bring with them for their travels. However, first, let’s tackle this question.
What’s the definition of a Foreign Transaction cost?
This is a charge charged when a purchase is made through an international bank or foreign currency. If you’ve got an average US credit card and make purchases in Spain, they’ll cost you a percentage of the total cost (around 3percent). Although it might seem like a small amount, these small fees could make a big difference.
Does one require credit cards for studying in another country?
Yes! Emergencies are all the time. You wouldn’t want to step on a plane carrying an enormous amount of cash (pickpocketers can be real), which means you’ll make money from an ATM. Imagine being stuck with no cash at the only ATM nearby, “Out of Service,” and having no other option to pay your bills! Here’s just one example of how a credit card is a lifesaver (it can also save the day if you do not have enough cash to pay for those extravagant presents you’re planning to purchase for your family or that one-of-a-kind opportunity to go skydiving or the occasion when you’re being treated in a hospital for Delhi Belly (you know the story).
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What do I take care of if I want to use a credit card but don’t want the foreign transaction fee?
Explore the wonderful World of Travel Credit Card without charges for foreign exchange and additional perks that go with your new lifestyle of studying abroad. But, among the ocean of co-branded and financial institutions cards, which is the best credit card for students studying abroad? Check out the article to discover what we believe to be the top choice for students in college who are traveling across the globe!
The Best Credit Cards For Students Studying Abroad
1. Discover It Student Chrome Credit Card
Another great credit cards for students studying abroad is because it, too, was created specifically for students! It also comes with account credit for outstanding marks! The only downside is that Discover It cards are not widely accepted in other countries, So you’ll need to visit the website to determine if the card can be used for your specific destination. They also don’t provide travel assistance beyond the US. But, Discover It is renowned for its customer service and is an excellent choice for those new to travel credit cards. It also comes with several security features.
- Benefits: No annual fee or foreign transaction charges Cashback of 2% at restaurants and gas stations–1 percent cash back on other purchases. They will match all your Cashback by the close of the year. For the first year. $20 statement credit per year for 3.0 GPA
- Charges the card is paid in complete and on time every month, there are no fees! Offers six months of zero APR for new purchases (so you can get the habit of making payments promptly before interest charges show up). Then, average interest begins to accrue.
2. Capital One Journey Student Rewards Credit Card
This is one of the top is one of the best credit cards for students studying abroad since it was created specifically for students. It means that your age and credit limitations will not affect your application process. This isn’t the ideal card to earn other benefits. Still, for the convenience of building an excellent credit record (hello, the adult realm!) and an immediate increase in your credit line when you’ve proven you can make your payments punctually, it’s a great card to start with! This is what you should be aware of regarding Capital One Journey Credit Card: Capital One Journey Student Rewards Credit Card:
- Benefits: No annual fee, No foreign transaction charges, 1percent cash back on all purchases. 1.25 percent cashback during the month with a timely payment, easy to use around the world with 24-hour travel assistance
- Charges If you settle your credit card entirely and on time each month, you will not be charged fees! (A month-long balance that is left over will result in APR interest, and late payments will result in an additional late fee)
3. Bank of America Travel Rewards Credit Card for Students
Bank of America is a perfect is one of the best credit cards for students studying abroad, it has a fantastic Visa Travel Rewards credit card perfect for those with good credit. However, don’t be concerned even if your credit score is climbing. There’s a “For Students” version of it as well! This is a fantastic option for an international study credit card for those who want to continue traveling for the future, as it will welcome you into the fantastic rewards points world! You earn points for every purchase, and you can use them to pay for travel costs like airfare, baggage fees, hotels, flights, and more. The device also features chip and pin technology to allow convenience worldwide.
- Benefits: No annual fee and no foreign transaction fee, 1.5 points earned per dollar spent 25 000 bonus points after spending $1,000 within the initial 90 days (definitely something you should do! ) More benefits are available when you’re a BOA banking customer.
- Charges the card is paid in the total amount and on time every month. You will not be charged any fees! Offers 12 months of zero APR for new purchases (so there are no fees for the whole year!)
4. Chase Sapphire Preferred
Although there’s no Chase bank study abroad credit card, the Sapphire Preferred credit card remains is one of the best credit cards for students studying abroad–that’s why it’s an option for a top credit card for study abroad students. Their rewards program is affiliated with the top names in travel (United and British Airways, to name a few), and you can directly transfer points–a fantastic value! It is necessary to conduct some research to determine what you can do to maximize the benefits of this credit card. But you’ll be extremely, very happy you did. Travel hackers who are beginners–this card are ideal for you!
- Rewards: Free foreign exchange charges, 2 points for every dollar on dining and travel expenses, 1 point per dollar on other purchases, 50k bonus points when spending $4,000 within the initial 90 days. trip-related insurance while using your card
- Prices: The annual fee is waived during the first year (meaning it’s free for the initial year!) Then, you pay an annual fee of $95 if you decide to keep the service.
5. Barclaycard Arrival Plus World Elite Mastercard
It is one of the best credit cards for students studying abroad, The Arrival Plus card provides broad access to foreign countries using Chip or Pin Technology. Rewards are simple to comprehend and use, which is why it’s perfect for students looking to test their skills at the game of points and miles. 2 miles (points) earned for every dollar spent can be applied to any travel expenses, and you’ll earn the equivalent of 5% of the miles you earn each time you make use of them.
- Rewards: There are no charges for foreign transactions 2 miles per dollar spent, 60 to 70k bonus points when you spend $5,000 within the initial 90 days. Complimentary concierge service just a few minutes away, and trip-related protection when you use your card.
- Prices: The annual fee is waived during the first year (meaning it’s free for the first year!) There is an annual cost of $89 if you choose to keep the service.
6. Discover It Student Chrome Credit Card
Another of the top student is one of the best credit cards for students studying abroad this is because it was also designed specifically for students! It also comes with the option of statement credit for those with good scores! A disadvantage is that Discover It cards are not widely accepted in other countries, and you should visit the website to see if it is compatible with your location. They also don’t assist with travel outside of the US. However, Discover It is renowned as a very accommodating customer and is an excellent choice for those who are new to travel credit cards. It also offers a variety of security features.
- Benefits: No annual fee and no foreign transaction fees Cashback of 2% at restaurants and gas stations percent cash back on other purchases; they’ll match all their cash back by the close of the year. For the first year, and a $20 credit on your statement for each year of 3.0 GPA.
- Charges it is paid for in the total amount, and on time each month, there are no fees! The offer is for six months of 0 APR on purchases made (so you can get the habit of paying promptly before interest charges show up). Then, average interest starts to kick in