Perhaps one of the most exciting opportunities open to college students is the chance to study abroad and immerse yourself in a brand new culture.
Of course, as exciting as it may be, living in a foreign place — even temporarily — comes with its own challenges, not the least of which is navigating new currencies and payment methods. Luckily, a good credit card can solve both of those problems.
The best travel credit cards can help you make purchases without worries of local currency conversions or unfamiliar cash and coins, and pricey foreign transaction fees. Let’s take a look at some of the best study abroad credit cards on the market today, including cards with no foreign transaction fees, chip & PIN cards, cards with dining rewards, and cards for those with little or no credit history.
No Foreign Transaction Fees | Chip & PIN | Dining | Poor Credit
Best “No Foreign Transaction Fee” Student Credit Cards
The very first thing to look at when considering a student credit card to use while studying abroad is whether the card charges foreign transaction fees. These fees are charged any time the banks or networks need to convert currency, and they can range from 3% to 5% of every transaction.
The simplest way to avoid foreign transaction fees is to choose a card that doesn’t charge them at all. And that’s not a hard task, given that some of the best student credit cards come without foreign transaction fees (or annual fees, for that matter).
If you want a little more bang for your buck, the Discover it® Student Cash Back offers quarterly rotating bonus categories that allow you to earn bonus cash back each activated quarter. This is a great way to earn more rewards at places many consumers shop frequently.
The Discover it® Student Chrome is a good option for making purchases abroad — and not just for its lack of hefty fees like some other cards carry. You’ll also earn cash back on every purchase, including at gas stations and restaurants, making it more affordable to explore your destination.
Best “Chip & PIN” Credit Cards for Those Studying Abroad in Europe
While your favorite chip-enabled credit card will work in many locations abroad, you may have the occasional hiccup, especially when trying to use unmanned terminals and kiosks in Europe. That’s because Europe uses PIN-based verification, rather than the signature verification commonly used here in the US.
To ensure you can use your card without issue while studying abroad in Europe, you can choose a PIN-capable credit card. There are a number of US credit cards that have the ability to use PIN verification, including several that charge no foreign transaction fees.
Additional Disclosure: Bank of America is a CardRates advertiser.
The Bank of America® Travel Rewards credit card for Students is a PIN-enabled card with no annual fee, plus it charges no foreign transaction fees.
You can request your four-digit PIN by logging into your online Bank of America account, through the mobile app, or by calling the customer service number on the back of your Visa credit card.
The Capital One Quicksilver Student Cash Rewards Credit Card is one of the best travel companions an international student could hope for. You can call and request a PIN to use for purchases, it charges no foreign transaction fees, and pay flat-rate cash back on every purchase you make.
It also has several protection features to keep your account secure while abroad. One knock against this card is its high purchase APR relative to other student cards, but the APR can be avoided by paying your balance in full each month.
Best “Dining Rewards” Cards to Use Abroad
Although every destination has its own sights and attractions, few things can compare with the ability to experience new foods and drinks as we travel.
To make the most of your foodie adventures, consider taking along a credit card that offers bonus rewards for your restaurant purchases. With the right cash back or points card, you can save on every culinary curiosity and perhaps make a little extra room in the budget for a second helping.
The Capital One SavorOne Student Cash Rewards Credit Card offers generous cash back rewards on dining purchases with no foreign transaction fees to negate the rewards you earn.
If your card is lost or stolen, you can lock your card in the Capital One mobile app to prevent fraudulent purchases. And if they do occur, you’ll never be held liable for unauthorized charges.
You’ll earn cash back rewards on every purchase with this card, with an elevated cash-back rate for dining purchases, making this a great choice if you’re looking to earn while you eat.
While not for the credit card novice, the Chase Sapphire Preferred® Card is a solid card for any trip abroad, offering 3X Ultimate Rewards points on dining purchases. Points can be redeemed at a solid rate for more travel to help you get out and explore.
Best “Poor/Limited Credit” Cards to Use Abroad
While it’s all well and good to look for a credit card with great rewards and low fees, the primary thing on your mind as a college student with a poor credit history may just be getting accepted.
But that may not be the challenge you fear. Many credit card issuers offer cards specifically designed to help students build their credit while offering the purchase rewards and low fees you want out of your card.
The Capital One Platinum Secured Credit Card doesn’t offer rewards, but you can get this card with as little as $49 down, even with bad credit. There’s no annual fee, and you can have your deposit refunded when you consistently make your monthly payment on time.
The Discover it® Secured Credit Card is a solid choice for rebuilding or establishing your credit. You may be able to transition to an unsecured Discover card in as few as seven months. The card’s lack of an annual fee or foreign transaction fees also makes it a good addition to your study abroad supplies.
The Deserve® EDU Mastercard is specifically designed for students who need to build their credit. The card offers 1% cash back on all purchases, and a credit limit of up to $5,000, depending on your creditworthiness.
You can take the Deserve Edu Mastercard® on the road and abroad, all without worrying about paying foreign transaction fees on your purchases. The card also comes with fraud protection for extra peace of mind.
Immerse Yourself in Local Culture with the Right Card
Studying abroad is one of the greatest perks of being a college student, not only offering the chance to explore a new culture — but to get college credit for it, too.
And while immersing yourself in a foreign land can have its challenges, being prepared is more than half the battle. Taking along the right credit card, for instance, can help you avoid the hassle of local currency conversions or payment method problems.
Before traveling with your new card, be sure to contact your credit card company to make it known that you plan to travel abroad with your card. This will help prevent your foreign purchases from being flagged as fraud and your card being frozen at an inopportune time.
Also, don’t let your adventure abroad cause financial trouble when you get home. Always make all of your necessary credit card payments on time — keeping time zone differences in mind — so you aren’t welcomed by expensive late fees or, worse, credit damage, when you get back.
Additionally, be sure to keep track of your budget as you go. While you may not have to make currency conversions yourself as you pay with hard money, you should still always be aware of how much you’re spending to avoid any painful surprises when your card bill arrives and you see your total in American dollars.
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