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Know the process of getting a premium credit card as an international student in the US. Understand how to get a credit card in America by using your credit score in India.
Having a good credit score in the U.S. is important for everyday life - to get a postpaid mobile phone plan, rent a house, get insurance, buy a car, and sometimes even apply for a job! If you do not have a good U.S. credit score, you may have to pay a high-security deposit to access these services - for example, your landlord or your insurance company may ask you to pay a security deposit as high as $1,500. Sometimes, you may even be denied access to these services, if you do not have a credit score. Having a good credit score could also help you get more financial opportunities in the future, including lower interest rates and higher loan amounts.
Check Your Education Loan Eligibility
To start building a credit history in the U.S., you could take a credit card, student loan, car loan, mortgage, or other credit product. Typically, the easiest way to build a good credit score is to get a credit card and responsibly manage it. This includes things like making timely payments, utilizing a low percentage of your credit limit, maintaining credit cards for a long time period, etc.
However, usually, credit card providers ask for a U.S. credit score to give you a credit card. International students are therefore stuck in this chicken-or-the-egg problem! Students end up having to wait for several months and sometimes even a few years to get a high-quality credit card. Till then, they pay high-security deposits to access financial services.
Thankfully, you have some options to get a credit card without having a U.S. credit score:
Companies like Nova Credit help students with good Indian credit scores apply for premium U.S. credit cards, using their Indian credit history! That means you don’t have to pay a security deposit or settle for a beginner unsecured card with limited rewards.
Evaluate your Probability of Admission in US Universities
If you do not have a prior Indian credit history, your best bet could be beginner unsecured cards, to help you get started with building a credit history in the U.S. Over time, as you responsibly manage your card, you could become eligible for more premium cards. If you are open to paying a security deposit, asking your bank for a secured credit card could also be an option.
If you do have a good Indian credit history, your best bet could be using that credit history to apply for premium U.S. cards through Nova Credit. They give you personalized recommendations based on your Indian credit score and help you apply for premium cards using that score.
To apply for premium U.S. cards using your Indian credit history, you could use Nova Credit. They’ve partnered with Indian credit bureaus and premium credit card providers in the U.S. to help international students.
Check your eligibility and explore personalized recommendations - when you provide your personal information, Nova Credit can retrieve your Indian credit file, show you your U.S.-equivalent credit score, and provide you with personalized credit card recommendations based on your score
View step-by-step instructions to apply
Nova Credit has partnered with premium U.S. credit card providers to help them evaluate Indian applicants, using their Indian credit scores. Nova uses your Indian credit report to generate a ‘U.S.-equivalent credit report’ that is then used by its credit card partners to evaluate your application.
GyanDhan has partnered with Nova Credit to help Indian students like you, start their financial journey in the U.S. on the right foot. If you have a good Indian credit score, GyanDhan will help you apply for your premium U.S. credit card.
Check Your Education Loan Eligibility
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