How International Students Can Get A Credit Card (2024)

Some banks or credit card companies offer specific products targeted at the student market. But many have requirements that all students, foreign or not, must meet.

A student’s age, for example, is a major factor. Credit card companies have stricter rules for applicants under the age of 21 because of the CARD Act of 2009: Young students will need proof of independent income or bank statements that show regular deposits and an income to indicate they can make payments. Having a co-signer is another beneficial way to assure the credit card issuer that payments will be made on time. However, not all banks allow co-signers.

Most credit card applications require an SSN or ITIN. International students with an F-1 visa that provides work authorization in the U.S. can apply for an SSN and thus be able to qualify for most student credit cards. Students not authorized to work in the U.S. can apply for an ITIN, which is for any individual in the U.S. who has taxable income paid out in the U.S., including taxable scholarships. An SSN or ITIN is essentially how you create your financial profile, as it allows the U.S. to identify you.

Conversely, if an international student only has income from foreign sources, they are not eligible for an SSN or ITIN and therefore cannot qualify for most credit cards.

Credit card issuers analyze an applicant’s credit history before approving an application. International students are not likely to have a U.S. credit history yet, which will make the application process more difficult.

Tips for Getting Approved for a Credit Card

Before applying for their first credit card, international students should start building a financial profile. The best way to begin this process is by speaking with the international student affairs office at their educational institution. The office can inform students of their eligibility to get an on- or off-campus job, which in turn determines their eligibility to apply for an SSN. If an individual is not eligible for an SSN, they can apply instead for an ITIN.

Approval for an SSN can take up to four weeks, and an ITIN can take seven weeks, so it’s best to do this right away once you determine which form of ID you are eligible for. Afterward, it’s time to build their credit. Methods of accomplishing this include:

• Opening a checking account at a U.S. bank. Having a checking account tells a credit card company that the applicant has monetary assets in the country. It may also be easier to later apply for a credit card with the same bank.
• Get a part-time, visa-approved job. If a student qualifies for a job according to their visa, a part-time job will not only qualify them for an SSN or ITIN but will also prove that they are capable of paying their credit card bill on time.
• Sign a lease with a roommate. While many apartments conduct credit checks on potential tenants, others may not. Some may be willing to accept tenants with no credit if they sign with roommates who have a good credit history. If the landlord or rental company reports rent activity to a credit bureau, this shows that the student is responsible and lives locally.
• Put utility bills in their name. If a utility company reports payments to credit bureaus, international students can put utility bills in their name to start building a responsible financial history.

Student Credit Cards

Student credit cards are designed specifically for young college students who are most likely applying for a first credit card. Most student cards have benefits such as no annual fees and some cash-back rewards.

Like domestic students, international students must have a credit history (or at least a co-signer) and an SSN or ITIN to apply.

Secured Credit Cards

If an international student doesn’t have a credit history, secured credit cards are the next best thing.

Secured cards require a deposit that becomes the cardholder’s credit limit (usually at least a couple hundred dollars). The card can be used like any other credit card to make purchases that don’t exceed the credit limit. Monthly payments will be reported to one of the major credit bureaus.

Cardholders should keep their credit utilization low and make payments on time in order to build their credit score. Most secured credit cards require an SSN or ITIN to apply.

Become an Authorized User

Becoming an authorized user on someone else’s credit card account precludes the need for an SSN or an ITIN with some banks. Anyone without a credit history can start building their credit score, but this can be risky for the original cardholder who will be financially responsible for all authorized user purchase activity.

If a student knows someone who’s willing to take this risk, setting up a spending and payment plan so that neither the original cardholder nor the authorized user ruins their credit is wise. Call the number on the back of the card to make sure that the credit card company reports authorized user activity to a credit bureau.

Read more: Best Credit Cards for International Students

American Express partners with the third-party service provider, Nova Credit, to check credit scores from a handful of other countries to better evaluate applications from those who may only have credit history outside the U.S. You’ll still need an SSN or ITIN to apply for an Amex card, but if you have credit from another country you can use it to qualify for a better card. This option likely will appeal more to older students in programs such as doctorates than younger students.

This option is available through online applications with Amex; you’ll find it after the box to enter a Social Security number. Amex can check credit scores from the following nations and says they are adding more in the future:

• Australia
• Brazil
• Canada
• Dominican Republic
• India
• Kenya
• Mexico
• Nigeria
• Philippines
• South Korea
• Switzerland
• United Kingdom

International students face challenges when applying for their first credit card. Typically, they must have an SSN or ITIN to apply, and a positive credit history may also be necessary to get approved.

Luckily, there are a few options. If they don’t qualify for a regular credit card, international students can apply for a secured credit card, become an authorized user on someone else’s account or build credit with a credit builder loan. After building a positive credit line and receiving an ITIN, a future cardholder can apply for a first solo credit card.