As an international student in the US, building a strong credit score is crucial for your financial future. A good credit score can help you secure loans, rent apartments, and even get better job opportunities. Using a US credit card responsibly is one of the best ways to build your credit score.
In this guide, we will explore the top five things you can buy to help build your credit score. We'll also show you how Zolve credit cards are perfect for international students, providing the benefits and features you need to establish and improve your credit history.
Why Building a Credit Score is Important
Building a good credit score in the US is essential for several reasons, especially for international students. A strong credit score opens up many financial opportunities and provides a foundation for your financial future.
- Securing Loans: Whether you need a student loan, car loan, or mortgage, lenders look at your credit score to determine your creditworthiness. A high credit score can help you secure loans with better interest rates.
Renting an Apartment: Landlords often check credit scores to ensure that potential tenants can be trusted to pay rent on time. A good credit score can make renting an apartment smoother and quicker.
- Employment Opportunities: Some employers check credit scores for their hiring process. A good credit score can give you an edge over other candidates.
- Lower Insurance Premiums: Insurance companies may use your credit score to set auto and home insurance premiums. A better credit score can lead to lower insurance costs.
- Better Credit Card Offers: With a strong credit score, you can qualify for credit cards with better rewards, higher limits, and lower interest rates. Applying for a US credit card becomes easier and more beneficial.
Best 5 Things You Can Buy to Build Credit Score
As an international student, making strategic purchases can help you build your credit score effectively. Here are the top five things you can buy using your US credit card to boost your credit score.
1. Everyday Groceries and Essentials
- Insight: Buying groceries and everyday essentials is a routine expense that every student incurs. Using Zolve credit cards for these purchases can help you build a consistent payment history.
- Benefits: Regular, manageable expenses like groceries help you demonstrate responsible credit use. Paying off these expenses on time can significantly boost your credit score.
- How Zolve Helps: With Zolve classic card, you earn cashback on every purchase, making it easier to manage your finances and build credit.
2. Course Materials and Software
- Insight: Purchase textbooks, online course subscriptions, and necessary software licenses for your studies.
- Benefits: These are essential academic expenses that show consistent payment behavior. Paying for these items with your US credit card helps build a solid credit history.
- How Zolve Helps: Use the Zolve Signature card to earn additional rewards on select brands, benefiting from purchase protections and extended warranties.
3. Public Transportation and Travel
- Insight: Use your credit card for public transportation passes, flights, and other travel-related expenses.
- Benefits: Regular payments for transportation are necessary and consistent, which helps in boosting your credit score over time.
- How Zolve Helps: Zolve credit cards, especially the Zolve Black card, offer cashback on transportation expenses, making your travel more affordable and rewarding.
4. Books and Educational Materials
- Insight: Investing in textbooks and other study materials is essential for your education.
- Benefits: Educational expenses are crucial and frequent, showing responsible spending and repayment habits. This helps in building a positive credit history.
- How Zolve Helps: Zolve Signature and Zolve Black cards provide benefits on educational purchases, including extended warranties and purchase protection, enhancing your buying experience.
5. Dorm Supplies and Small Electronics
- Insight: Buy dorm essentials like bedding, kitchen supplies, and small electronics such as headphones or smartwatches.
- Benefits: These purchases can be paid off over a few months, demonstrating your credit utilization and repayment ability.
- How Zolve Helps: Zolve credit cards come with extended warranty and purchase protection benefits, ensuring your purchases are safe and secure.
How Zolve Credit Cards Can Help Build Your Credit Score
Zolve credit cards are specifically designed to help international students build and improve their credit scores in the US:
- Easy Application Process: Apply online using your passport or I-20 form without needing an SSN.
- Cashback and Rewards: Earn generous cashback and rewards on everyday purchases.
- No Foreign Transaction Fees: Avoid extra charges when making international purchases.
- Comprehensive Protection: Enjoy purchase protection, extended warranty, and travel insurance.
- Building Credit History: Regular, manageable expenses and timely payments help build a solid credit history.
Quick Tips for Building a Good Credit Score
- Always Pay Your Bills on Time: Timely payments are crucial for maintaining and improving your credit score.
- Keep Your Credit Utilization Low: Aim to use less than 30% of your available credit limit.
- Monitor Your Credit Report Regularly: Check for any errors or fraudulent activities.
- Avoid Applying for Too Many Credit Cards: Apply only for the credit you need to avoid hard inquiries on your credit report.
- Use Credit Responsibly: Make sure to use your credit card for necessary expenses and avoid unnecessary debt.
Summing Up
Building a strong credit score is essential for international students in the US. Using a US credit card like Zolve for strategic purchases can help you establish a solid credit history. With no SSN requirement, generous rewards, and comprehensive protections, Zolve credit cards are the best choice for international students.
Start making smart purchases and watch your credit score grow, setting the foundation for a successful financial future in the US.
FAQs
Q. How do Zolve credit cards help build a credit score?
Zolve credit cards help build your credit score by allowing you to make regular, manageable purchases and pay them off on time. This demonstrates responsible credit behaviour to credit bureaus.
Q. What happens if I miss a payment on my US credit card?
Missing a payment can negatively impact your credit score and may result in late fees. Setting up reminders or automatic payments is crucial to avoid missing due dates.
Q. Are there any fees associated with US credit cards?
Many credit cards come with some annual fees but Zolve credit cards have no annual fees and no foreign transaction fees. This makes them cost-effective options for international students.
Q. Can I use Zolve credit cards internationally?
Yes, Zolve credit cards can be used internationally without incurring foreign transaction fees. This is ideal for students who travel frequently or make international purchases.
Q. How can I track my spending and rewards with Zolve credit cards?
You can easily track your spending and rewards through the Zolve app. The app provides detailed statements and insights into your credit card usage, helping you manage your finances effectively.
