Top 5 Best Credit Cards for Study Abroad: Which One is Right for You?

Studying abroad can be an exciting experience, but it can also be costly. One way to manage your expenses while studying abroad is by using a credit card that offers rewards and perks that are beneficial for your international student life. However, with so many credit cards available, it can be challenging to choose the right one. In this essay, we will discuss the top 5 best credit cards for study abroad and help you determine which one is right for you.

Top 5 Best Credit Cards for Study Abroad: Which One is Right for You?

The importance of choosing the right credit card for studying abroad

Choosing the right credit card for studying abroad is essential for several reasons. Firstly, international travel can be costly, and having a credit card that offers rewards and benefits specific to traveling abroad can help you save money. For example, some credit cards waive foreign transaction fees, which can save you up to 3% on each purchase you make while studying abroad.

Additionally, credit cards that offer travel rewards, such as airline miles or hotel points, can help you save money on flights, accommodations, and other travel-related expenses. This can be especially beneficial for students who may have limited funds for travel.

Another important factor to consider when choosing a credit card for studying abroad is safety and security. Many credit cards come with fraud protection and other security features that can protect you from identity theft and other types of fraud while traveling internationally.

Finally, choosing the right credit card for studying abroad can help you build your credit history. By using your credit card responsibly, making timely payments, and keeping your credit utilization low, you can establish a positive credit history, which can be beneficial when applying for loans, renting an apartment, or applying for a job in the future.

Top 5 Best Credit Cards for Students Studying Abroad

1. Discover it® Student Cash Back

The Discover it® Student Cash Back credit card is an excellent choice for students studying abroad because it offers 5% cashback rewards on rotating categories such as restaurants, gas stations, grocery stores, and Amazon.com. Additionally, the card comes with a $20 statement credit for good grades, and there is no annual fee. Moreover, Discover it® Student Cash Back does not charge any foreign transaction fees, making it an excellent option for students studying abroad.

2. Bank of America® Travel Rewards Credit Card for Students

The Bank of America® Travel Rewards Credit Card for Students is a fantastic option for students who travel abroad frequently. This card earns 1.5 points per dollar spent on purchases and provides 25,000 bonus points if you spend $1,000 within the first 90 days of opening your account. You can use the points to pay for travel-related expenses, such as flights, hotels, and car rentals. Additionally, this card does not charge foreign transaction fees.

3. Citi Rewards+℠ Student Card

The Citi Rewards+℠ Student Card is another excellent option for students studying abroad. This card earns 2x points at supermarkets and gas stations, and 1x points on all other purchases. Moreover, Citi Rewards+℠ Student Card rounds up every purchase to the nearest ten points, which means you can earn more points on smaller purchases. This card also offers a 0% intro APR for the first seven months, and there is no annual fee. However, it charges a 3% foreign transaction fee, which can add up quickly if you use it frequently while studying abroad.

4. Capital One® VentureOne® Rewards Credit Card

The Capital One® VentureOne® Rewards Credit Card is another great option for students studying abroad. This card earns 1.25 miles per dollar on all purchases, and you can use the miles to pay for travel-related expenses. Additionally, this card provides 20,000 bonus miles if you spend $500 within the first three months of opening your account. Moreover, it does not charge any foreign transaction fees, and there is no annual fee.

5. Chase Sapphire Preferred® Card

The Chase Sapphire Preferred® Card is an excellent choice for students studying abroad because it offers a wide range of rewards and benefits. This card earns 2x points on travel and dining purchases and 1x points on all other purchases. Moreover, you can earn 100,000 bonus points if you spend $4,000 within the first three months of opening your account. Additionally, this card provides trip cancellation and interruption insurance, primary rental car insurance, and does not charge foreign transaction fees. However, it has an annual fee of $95.

Choosing the right credit card for studying abroad is essential to manage your expenses and maximize your rewards. The Discover it® Student Cash Back, Bank of America® Travel Rewards Credit Card for Students, Citi Rewards+℠ Student Card, Capital One® VentureOne® Rewards Credit Card, and Chase Sapphire Preferred® Card are all excellent options for students studying abroad. Consider your spending habits and preferences to determine which card is the right one for you. If you're looking for money transfer services beyond credit cards, you can visit the website of DNBC Financial Group to learn more about their financial services that may be necessary to your study abroad experience.