I am 24 and will be a senior in college next year. I plan to apply for my first credit card to start building credit. I am also planning on traveling so I would like a card that can be used abroad. However, looking into credit cards has been difficult. I am limited in what I can apply for because I don’t have a credit history or a steady income stream. I work during the school year only. Do you have any recommendations on where to research the best credit card for my situation? Mariah, email
Banks are adverse to risk and the credit industry has tightened. That has caused banks to pull back from offering credit to students with the kind of ease they once did. As of this writing, Capital One is one of the few cards I know of that does not charge conversion fees on purchases made in foreign countries. However, credit card features are changing rapidly. Look at what Capital One will offer you. Then, go to IndexCreditCards.com for a current list of credit card offers for students. Be sure to read all the fine print and know fully what you’re getting into before you submit an application.
If you plan to use a credit card abroad, I hope you are not planning to travel on credit—and come home with a load of debt. Make a personal commitment never to allow a balance to roll over from one month to the next. You cannot afford to do that. Read more