Benefits of credit cards for study abroad
Every student should get a credit card before studying abroad.
Better protection against fraud. Unfortunately, pickpocketing and identity theft Credit cards offer much greater security than debit cards thanks to the Truth in Lending Act, which is a federal statute that guarantees that the customer will not be held responsible for more than $50 in any instance of fraud. In most cases, your bank will cover 100% of fraudulent charges on a credit card and immediately notify you of suspicious activity. This is far less likely to happen if your debit card is stolen. Though you should always report an suspicious activity on a debit card, are welcomed to debate fraudulent charges on a debit card, your report will be reviews Banks don't monitor activity on a debit card with the same intensity and so there i. Pickpocketing is a serious issue in many big cities across Europe and so it is very important to plan
No foreign transaction fees. Though not all credit cards offer this, there are several really excellent ones that do. A 1-3% added fee might seem like a small amount, but if you're studying abroad for multiple weeks or months, that number can really add up.
Potential to start earning cash back or air miles. ** **Better exchange rate.
+ Things to consider when choosing your credit card
- Chip and/or Pin
- no foreign transaction fees
- air miles
- Protection against fraud
- low apr
- No ATM withdrawal fees
- sign up bonus
- Notify your bank
- back up cards
- Bank of AmeriCard Travel Rewards for Students
- Chase Sapphire
- Capital One Venture Rewards Credit Card
- Capital One Journey Student Credit Card
- Discover it®for Students Card