Studying abroad is an exciting adventure that offers incredible opportunities for personal and academic growth. While planning your international journey, one essential aspect to consider is your financial strategy. Having the right credit card can make your overseas experience more convenient and cost-effective. In this article, we will explore the best credit cards tailored to students who are traveling abroad, offering benefits like no foreign transaction fees, travel rewards, and valuable perks.
Discover it® Student Cash Back:
No Annual Fee: The absence of an annual fee is a significant advantage for students, as it helps keep costs down while still enjoying the perks of a credit card.
Cash Back Rewards: Discover it® Student Cash Back offers a rotating 5% cash back bonus on various categories like restaurants, grocery stores, and gas stations, including travel-related expenses. This can translate to significant savings during your time abroad.
Cashback Match: One of the most appealing features is the Cashback Match program, which doubles all the cash back you earn in the first year. For a student traveler, this means extra funds to spend on experiences.
No Foreign Transaction Fees: When you’re exploring foreign countries, foreign transaction fees can quickly add up. With this card, you won’t have to worry about those extra costs.
Chase Sapphire Preferred® Card:
Travel Rewards: The Chase Sapphire Preferred card offers valuable travel rewards. You can earn points for every dollar spent, and these points can be transferred to airline and hotel partners or used directly for travel bookings through the Chase Ultimate Rewards portal.
Generous Sign-Up Bonus: New cardholders can benefit from a generous sign-up bonus, which often provides enough points to cover a round-trip flight or a significant portion of your travel expenses.
Global Acceptance: When you’re traveling internationally, having a card that’s widely accepted is crucial. The Chase Sapphire Preferred is recognized in numerous countries, making it a reliable choice.
Travel Protection: The card provides various travel protections, including trip cancellation/interruption insurance, rental car coverage, and baggage delay insurance. These features can be invaluable for students traveling abroad.
Bank of America® Travel Rewards Credit Card for Students:
No Annual Fee: For students who are budget-conscious, this card is an excellent choice as it doesn’t require an annual fee.
Travel Rewards: You’ll earn points on every purchase, which can be redeemed as statement credits towards travel expenses. This flexibility allows you to use your rewards for flights, accommodations, or other travel-related costs.
Introductory APR: The card offers an introductory 0% APR on purchases for a limited time. This can be advantageous for students who need to finance their study abroad expenses.
No Foreign Transaction Fees: Just like the other cards on this list, this one doesn’t charge foreign transaction fees, making it cost-effective for international travel.
Capital One® Quicksilver® Cash Rewards Credit Card:
Flat-Rate Rewards: This card offers a straightforward 1.5% cash back on all purchases, making it easy to earn and redeem rewards.
No Foreign Transaction Fees: Avoiding foreign transaction fees is a significant benefit for students traveling abroad because it means you won’t incur extra costs for making purchases in foreign currencies.
Cash Back Redemption: Capital One’s cash back rewards can be redeemed at any time. This flexibility allows you to use your rewards to offset travel expenses or treat yourself to experiences while abroad.
No Annual Fee: With no annual fee, this card is particularly suitable for students who are just starting to build their credit.
Citi® ThankYou® Preferred Card for College Students:
ThankYou® Points: As a cardholder, you’ll earn ThankYou® Points for every purchase. These points can be redeemed for travel, gift cards, merchandise, and more, offering flexibility in how you use your rewards.
Introductory APR: The introductory 0% APR on purchases is advantageous for students who may need to make significant upfront expenses for their study abroad programs.
No Foreign Transaction Fees: Like the other cards on this list, this card does not charge foreign transaction fees, allowing you to make purchases abroad without additional costs.
Student-Friendly: Designed with college students in mind, this card caters to the needs and financial situations of students, making it an accessible option for young travelers.
Each of these credit cards offers unique benefits that can enhance your experience as a student traveling abroad. When choosing the best one for you, consider your spending habits, travel plans, and preferences. Always remember to use your credit card responsibly, make on-time payments, and monitor your expenses to ensure you make the most of these financial tools while making memories during your international studies.