It is the first choice of many students to study in the U.S., so credit cards are sometimes used for studying in the U.S. Here are the tips on using credit cards for studying in the U.S. collected by recent graduates
I. Tips on using credit cards for studying in the U.S. – Credit identity security issues need attention
As a last resort, try not to tell people your Social Security Number, birthday, birthplace, mother’s name, etc., including people close to your classmates.
Generally, only banks, insurance companies and state agencies such as the police, tax office, DMV, etc. have the right to ask for this information, but it is inevitable that hackers will attack your system and steal your information. But we must protect our respective credit identities, otherwise it will lead to trouble.
Second, the skills of using credit cards for studying in the United States – the number of 2-4 is good
You can apply for several credit cards of different banks and different purposes, preferably one each of Visa, Master and AE.
In addition, some credit card companies will offer you some small gifts to attract you, but students should not covet them to avoid long-term losses. Especially, some people who have more credit cards and spend money uncontrollably will be in debt after a few years, so students should be moderate in using credit cards.
Third, the skills of using credit cards for studying in the United States – the quality of the cards is not in the quantity, but in the quality
Many banks in the U.S. offer credit cards, and credit cards with credit limits of tens of thousands of dollars issued by big banks such as BOA, Case, American Express, Discover, etc. are more popular. There are many different kinds of credit cards from the same bank, so students should pick the one that suits them.
At first, the big banks only give students a credit limit of $1,000 or $2,000, and they will naturally increase the credit limit for everyone as they use it well. Sometimes students can call themselves to ask for an increase in the credit limit, and if they are using things like buying big items or traveling as a reason, the banks encourage them to spend more as long as their credit allows.
4. Tips for using credit cards in the U.S. – Build up a credit record
If students never default, their credit history can reach more than 700 within a few years. In this case, students can get the best interest rate when they go to buy a house or a car.
V. Tips for using credit cards in the U.S. – Credit card protection spending
In the United States, credit card payments can be delayed, so if students purchase unsatisfactory goods, they can notify the bank to refuse payment.
6. Tips on using credit cards for studying in the United States – 6 elements of credit score
1. Length of credit history: the longer the score, the higher the score. The length of use of each credit card is also important. If students jump around between different cards and keep applying for new cards to close old cards will damage your credit.
2. Credit limits: improve with points. Credit card companies will compete with each other, and if they find that other banks give students a credit limit increase they will do so in a timely manner.
3、Delinquency: the less points the higher.
4、Frequency of calls: Frequent calls to credit records in a short period of time will lower the students’ scores. If you want to apply for a new card, you have to call your records once for each application.
5, asset status: students’ loans will be shown on the credit record, if never in default and long history, the score is high.