What Are the Top Credit Cards for Studying Abroad?

Top Credit Cards for Studying Abroad: A Comprehensive Guide

Studying abroad is an exciting opportunity for students to gain new experiences, broaden their horizons, and immerse themselves in different cultures. However, it can also be a costly endeavor. That's where credit cards come in. With the right credit card, students can save money,earn rewards, and have access to emergency funds while they're away. In this article, we'll explore the top credit cards for studying abroad and provide you with some useful tips and tricks for managing your credit card while abroad.

1. Capital One Venture Rewards Credit Card

The Capital One Venture Rewards Credit Card is a popular choice for students studying abroad. With this card, you'll earn 2X miles on every purchase, which can be redeemed for travel expenses such as flights, hotels, and car rentals. In addition, there areno foreign transaction fees, making it a great option for students who plan to travel frequently. The card also comes with travel insurance and a concierge service, which can assist you in case of an emergency.

2. Chase Sapphire Preferred Card

The Chase Sapphire Preferred Card is another great option for students studying abroad. This card offers 2X points on travel and dining purchases, as well as a signup bonus of 60,000 points after spending $4,000 in the first three months. Points can be redeemed for travel expenses or transferred to partner airlines and hotels for even more value. The card also has no foreign transaction fees and offers travel insurance and trip cancellation coverage.

3. Bank of America Travel Rewards Credit Card

The Bank of America Travel Rewards Credit Card is a no-frills option for students who want to earn rewards without paying an annual fee. With this card, you'll earn 1.5X points on every purchase, which can be redeemed for travel expenses such as flights, hotels, and car rentals. The card has no foreign transaction fees and comes with travel insurance and emergency services.

Tips for Managing Your Credit Card While Abroad

1. Notify Your Bank

Before you leave for your trip, be sure to notify your bank that you'll be traveling abroad. This will prevent your card from being flagged for suspicious activity and potentially being blocked. You should also provide your bank with a phone number where you can be reached in case of an emergency.

2. Use ATMs Wisely

Using ATMs abroad can be convenient, but it can also be expensive. ATM fees and foreign transaction fees can add up quickly. To avoid these fees, try to withdraw larger amounts of cash at once and use your credit card for purchases whenever possible.

3. Be Mindful of Currency Conversion Rates

When using your credit card abroad, you may be given the option to pay in your home currency or the local currency. It's usually best to choose the local currency, as the conversion rate used by the merchant may not be favorable.

4. Protect Your Card

Be sure to keep your credit card safe while traveling. Avoid carrying it in your back pocket or leaving it unattended. You should also make a photocopy of the front and back of your card and keep it in a safe place in case your card is lost or stolen.

Conclusion

Studying abroad can be an incredible experience, but it's important to be financially prepared. By choosing the right credit card and following some simple tips for managing your card while abroad, you can save money and have peace of mind. Remember to always read the terms and conditions of any credit card before applying, and be sure to pay your balance in full and on time to avoid interest charges and late fees.