For students who like to travel this is even better because all the expenses will be greatly covered by the right student credit card. It can not only let you better control your travel costs but also get you rewards, valuable travel insurance,
and establish your credit profile with the right student credit card. Whether you are a more experienced tourist or you are a student who is going to take their first international trip, this article will explain the features of the best travel student credit cards and how to use them.
Information on the Best Student Credit Cards for Travel
Students credit cards are especially made for those who have no credit history or those with bad credits. Some of these pull down many of the typical benefits of standard travel cards and generally possess flexible qualifying requirements. Here’s a breakdown of how they function:
Credit Limit: The majority of student credit cards have low credit limits ($500-$1’500) to avoid impulse purchasing.
Rewards Programs: The rewards range from points, which you earned for each dollar spent on the card to miles or cashback which can be used to offset travel expenses, or statement credit respectively.
Interest Rates: student cards normally have higher interest rates than standard credit cards therefore the best thing to do with such cards is to make payments on them monthly without failures.
Approval: While some of these credit cards must be backed by proof of income or a cosigner if one has no credit check at all, some are crafted for students with little or no credit history.
What’s the Value of Getting a Student Credit Card for Travel?
When you are a student it is normal to ask yourself why it is possible to have credit card that is designed for travel. Here are a few reasons:
Earn Travel Rewards: Most of the student credit cards include features such as rewards, that give certain points or miles for each dollar that is spent. These rewards can later be cashed in for a flight, accommodation or any other traveling expense.
Build Your Credit History: They also come in handy in credit building since credit cards are perhaps the easiest to use, especially in the future loans, renting apartments among others.
Travel Insurance and Protection: Other benefits include travel insurance that accosts with a credit card, purchase protection and no charges on foreign transaction on an international trip.
Emergency Funds: Traveling is always associated with certain emergencies; a credit card may come in handy in emergencies in terms of funding.
When choosing a student credit card for travel, focus on these features:
No Foreign Transaction Fees: Most student credit cards have foreign transaction fees where customers are charged 3% on any purchase they make out of the United States.
Saving money during your travels means that you will need a card with no charges on the transactions you make in a foreign country.
Travel Rewards or Cashback: Scan for the cards that promise reward in points, miles or cash back on a vacation related spending including airline tickets, hotel tariffs etc.
Low Interest Rates: This means as a student you do not want to be charged high interest rates to an extent of sky rocketing your fees balances. Search for a credit card that charges a small or $0 interest rate for the first year or has a small APR if it is a fixed rate card.
Easy Approval for Students: Student cards are particularly useful for people with poor or no credit history, so many applicants will be approved.
Sign-up Bonuses: Some credit card provides the card member with an initial or bonus points or miles after the card holder has charged a specific amount of money over the first few months.
Selecting the best student credit card for tripping
Picking the right student credit card for travel really depends on the card holders expenditure and travel aspirations. Here’s how to make the best decision:
Travel Frequency: If you are a frequent traveler, then choose the card that you will earn some of the best travel rewards or points level.
Spending Habits: Certain types of cards can boost your rewards for dining, gas or entertainment for example, so you should think about your spending habits.
Sign-Up Bonuses: If that is the case, go for a card that offers a rich sign-up bonus that matches the spending needed to activate it.
International Travel: If you intend to travel internationally consider going for a card that does not include these transaction fees.
Once you have your student credit card, here are some tips to make the most out of it:
- Always Pay Your Bill on Time: On top of it, failure to pay on time can attract interest as well as fees which are something we all would prefer to do without, moreover, timely payment can also increase your rewards with some cards.
- Use the Card for All Travel-Related Purchases: Get the most out of your credit card when you shop for your flights, hotel accommodations or your restaurant meal.
- Take Advantage of Sign-Up Bonuses: There are many student credit cards that come with freebie that can help you with the travel part: sign-up bonuses.
- Monitor Your Credit: In this case, it is also important to learn how to make the best of your student card if and when you do have one by only charging what you are able to pay for in a given month to ensure that when the companies are compiling their records for issuance of better cards/credits/loans in the near future they find you worthy.
More Privileges of Student Credit Cards for Travel
It is also noteworthy that student credit cards Travel may contain other significant valuable features and benefits. Here are a few key benefits that you should look for when choosing a card for your next adventure:
1. Travel Insurance
Various types of student credit card entitle the travellers to get free travel insurance including cancellation of the journey due to some emergencies or loss of baggage.
This may be especially useful if you have large trip on the horizon and cancellations might result in large losses. While these offers usually provide a minimum level of insurance, it’s still rather nice to have a guarantee.
For instance, Bank of America Travel Rewards for Students entitle travel insurance protection such as baggage delay or travel interruption.
2. Rental Car Insurance
To get insurance if you are going to hire a car at one or another point on your journey some student credit cards provide rental car insurance or as it is called, collision damage waiver.
This benefit can do so as it will also eliminate the need to buy top up insurance from car rental organizations. However, please do not stop here, read on until the fine prints to see if this eliminates you in the country where you intend to drive.
The Journey Student Rewards from Capital One provides auto rental insurance as a secondary which means that you can activate it after the primary coverage has been activated.
3. These coverages include Purchase Protection and Extended Warranties.
Often when travelling one buys items such as electronics or clothes which may get spoilt or even get stolen. There are student credit cards like the journey student card that come with purchase security,
in case your goods are stolen or destroyed the card will cater for the loss. This is in addition to, other cards offer to increase the manufacturer’s warranty on items purchased with the card.
For instance, Discover it Student Chrome offers a purchase protection feature, as well as doubles the manufacturer’s warranty of products bought with the chrome card.
4. Access to Airport Lounges
However more popular in travel-oriented cards, though often not associated with most student credit cards, it is a possibility for entrants either by points or membership based programs to access airport lounges.
Access to lounges can help pass time during the long lay over or when their flight was delayed there are amenities like free meals and drinks, free Wi-Fi, comfortable seats among others.
5. Credit Card Fraud Protection and No Liability
Since the travelling activity would entail the use of your card in these unfamiliar places, then the credit card has to have a good anti-fraud feature.
Most student credit cards entail zero liability for any fraudulent purchases, this means if for instance your card has been lost or stolen you will not be held responsible
The Deserve EDU Mastercard for Students has the appropriate layers of security to protect students while they are travelling.
Important Guidelines for Writing a Travel Log Using Your Student Credit Card
But having the right credit card is only half the journey. If it is properly understood and effectively applied when traveling, it will be very useful and no unnecessarily complications may arise with the card.
1. Informed Your Credit Card Issuer before travelling
But before you do all that, bear in mind that it is wise to inform your credit card service provider of your travel plans. Most issuers have a ‘travel notice’ provision which can be accessed via the card mobile application,
or an online banking account. That will ensure your card is not blocked whenever purchases are made from a location considered to be in another country.
2. Learn about the Exchange Rate and Dynamic Currency Conversion
In overseas travel, ALL our credit card transactions will take place in that country’s currency of the country of the transaction without conversion to another foreign exchange.
This is particularly helpful because usually the price is listed in some other currency and paying attention to the exchange rate can make an enormous difference.
Do not use DCC (Dynamic Currency Conversion) which includes situations where the merchants will offer to pay in USD rather than the local currency. This service attracts extra costs as well as an uncompetitive exchange rate.
3. In case the preferred form of payment is declined, there should be another one just in case.
However, a student credit card is very useful when traveling, another form of identification or another form of payment such as another credit card or local currency should be carried just in case the primary card is lost or not accepted.
4. Check for ATM Fees
If you intend to withdraw money during your trip, you need to have your credit card capable of the cash withdrawals but this usually attracts high charges and higher interest rates.
However, if you have the chance, it will be best to use the debit card or the credit card which does not charge any cash withdrawals overseas.
5. Track Your Expenses and Use of Your Money
When you are traveling, consider how much you are spending a lot and also check your account statement frequently to avoid being ripped off by someone else. Most credit card companies let you download mobile apps that will notify you instantly each time you make a transaction.
Pros and cons of employing a student credit card for travel.
Pros:
Earn Travel Rewards: Use your points or miles, for flights, hotels and other things.
Convenience: No introduction is necessary when you decide to shop with your card instead of having to carry cash around the world you need.
Security: Fraud protection makes it possible for you not to pay for charges you did not incur.
Build Credit: If properly managed, credit card is a tool that assists in construction of proper credit history, which is extremely important in one’s financial life.
Travel Benefits: Other additional benefits such as travel accident insurance or purchase protector and car rental insurance.
Cons:
High-Interest Rates: However, if you continue to carry your balance, then you end up paying very high interests.
Potential for Overspending: Huge budgets are very common when it comes to travelling for instance when you are using a credit card. Ensure that you work within a particular budget.
Credit Score Risk: Failure to manage this card well may even dent your credit rating giving creditors a hard time approving your subsequent credit applications.
Travel Smart: Essential Precautions and Lessons Learnt on How to Avoid Some of the Mistakes Associated with Credit Cards While in Other Countries
Some common pitfalls that students should avoid are as follows:
1. Avoid Cash Advances
When utilizing your credit card to make withdraws at bank ATMs (cash advances), you are charged exorbitant fees and steep interest charges that begin right from the time. Avoid it if at all possible; it is advisable to use it only when there seems no other solution.
2. Dynamic Currency Conversion
Some merchants will make an offer to charge you in your own currency, that is in the United States of America dollars. This sounds reasonable but sometimes you may get a very poor exchange rate. Whenever settle in the local currency to get the truest conversion rate provided by the master credit card body (Visa master, etc.).
3. Stick to a Budget
Travelers fall victims of this challenge because credit cards entice them to spend beyond their means. Most people know how to travel, but few know how to travel on a budget; therefore, it is advisable to set aside a traveling budget and look forward to a huge credit card bill after coming home.
4. Stay Aware of Exchange Rates
Its also important to note the exchange rate of the country that you are in or planning to visit any time you use the card abroad. Many credit cards have the possibility to convert money at good rates but it is always best to check out the rate before getting charged.
Conclusion: The Best Credit Cards for Student Travel
The right student credit card can make traveling easier, more affordable, and rewarding. From no foreign transaction fees to valuable rewards, the best student credit cards for travel offer a wealth of benefits for young adventurers.
By selecting the card that aligns with your travel habits, understanding its perks, and using it responsibly, you can not only enhance your travel experiences but
The Best Student Credit Cards FAQs
1. Can a student apply for a credit card with out the Social Security Number?
There are, but certain student credit cards such as the Deserve® EDU Mastercard for Students, that can be used by Internationals students do not ask for the SSN while applying for the credit card.
2. Should students apply for student credit cards for occasional travelers?
Absolutely. If you are not a frequent traveler, a student credit card also benefits you in terms of credit history and rewards and benefit. Should you travel, it can be helpful to have a credit card that charges you no foreign transaction fees.
3. Are going in miles different from cashback reward?
Many rewards include flights, hotels or car rental while others allow you to cash in your miles or points and get instant cash back depending on the percentage that you spend. Some of the cards allow you to redeem points to cash, but it is always worth the mentioning that redemption value varies.
4. What measures should be taken so as not to attract interest charges to my student credit card?
The only way to eliminate interest charges is to be able to clear the total statement
amount before the end of the billing period provided. Through its leverage, many student credit cards also offer 0% APR for a promotional period to make you pay off balances and not incur additional interest charges on the amount.