The so-called debit card is the function of the savings account. In the United States, almost every bank provides applications for debit cards, and it is not necessary for the applicant to have a credit record and SSN number, nor to refer to a series of conditions such as the applicant's job, salary, whether he holds an American green card or an American citizen, so opening a card is almost zero risk. The condition for opening a card is that you provide a certain down payment. Moreover, debit cards of big banks such as Bank of America, Chase and TCF are free of annual fees, and there is no handling fee for withdrawing money at designated ATMs, which is very convenient. Remittances to and from China are generally made by debit cards, because credit cards have no ability to save money.

Checking account (checking account)

Its main function is consumption, so there is generally no interest. Users can use this account to pay tuition, telephone bills, online shopping, writing checks and so on. In the United States, online banking is very common in life, such as online shopping, ordering food, takeaway, booking tickets and so on. In the United States, bank cards generally come with online banking after opening, and there is no need to apply for or install any software. When a user opens a new checking account, many big banks will give away some checkbooks. In China, people may have fewer opportunities to use checks, but in the United States, checks are very convenient and safe, because your name and information will be printed on the checks, and many banks will check the signatures, so it is rare to sign checks. Moreover, if the check is sent to the other party, the name of the payee will also be on the check, so there will be no fraudulent use. In America, checks can almost be used as cash. For example, you don't need to bring a lot of money to go shopping, just bring a check.

Savings account (savings account)

This is the main account for savings, because it has interest, but it is not commonly used in consumption, because general consumption is drawn from your current account. If the balance of your checking account is insufficient and there is money in your savings account, it is generally impossible to withdraw it. You must log in to the online bank of each bank and transfer the money in the savings account to the checking account before you can pay. You can choose which account to deposit according to your own situation. If you don't spend much money at ordinary times, it is suggested that you can deposit the extra money into a savings account, so that you can get some interest.

Apply for a credit card.

Credit cards are more troublesome than debit cards in application, consumption and repayment, but the biggest advantage is that they can be advanced in advance. Credit card application is really troublesome and the success rate is not high. It's just one of the payment methods for consumption, and most credit cards also need an annual fee. Therefore, whether international students apply for a credit card can be decided according to their own needs. There is no need to apply for a credit card for students who stay for a short time. For those who plan to stay abroad for more than three years or to settle down, using a bank card is also a guarantee for a better life in the future, because the convenience of credit cards for international students is not only "spending in advance", especially for those who plan to stay in the United States or Canada for a long time, the credit history of credit cards is an important basis for their future life. American credit records have a very strict and perfect record system, which is also one of the manifestations of people's integrity and financial management ability. If you are going to settle abroad, it will inevitably involve buying a car and a house. I believe it is more realistic for most students to buy a house or a car with a loan. Most domestic loans are secured by assets, but for international students who have almost no assets, the important reference index of loans is credit history. The accumulation of credit records is a long time, which is different from the bank's points. It doesn't mean that if you suddenly spend tens of thousands of dollars today, your credit history will increase greatly. Therefore, it is suggested that students must apply for a credit card as soon as possible, so that your credit history may be enough to buy a home loan in a few years.

Compared with debit cards, the success rate of credit card applications is much lower for international students. Most credit card accounts require applicants to have American Social Security Number (SSN), a stable job, a letter of introduction and a good credit record. But these conditions are difficult for international students to meet. Here are some ways for international students to apply for credit cards:

Apply for a secure credit card:

At present, the United States is in financial crisis. In order to stimulate consumption, major banks have lowered the threshold for credit card applications. Some banks do not need to have work or past credit records to apply for credit cards, but only need to open an account with a deposit of about 500 dollars. This $500 is required not to be used for half a year, and it will be automatically thawed after half a year. At that time, your credit card will have a corresponding credit limit of 500, so 500 is your overdraft limit. Of course, this limit can be increased with your good credit card record. The success rate of this credit card application is generally 100%.

Credit card based on debit card.

Many banks have additional preferential policies for debit card users, such as lowering the threshold when applying for credit cards. Especially in big cities with fierce competition and at the beginning of school, in order to win more deposits, banks will introduce measures such as "opening debit cards with credit cards". However, there is no guarantee that 100% of the applicants will succeed.

Apply for a student credit card:

This is a credit card specially opened by the bank for students, so there is no requirement for income and past credit history. However, when handling student credit cards, students are often required to show their student ID cards and other materials that can prove their identity. The success rate of this credit card application is very high, but the overdraft limit is relatively low, which will not exceed $ 1000.

Apply for a credit card from a department store or other merchants.

For example, Macy's, the largest department store in the United States, encourages consumers to apply for Macy's credit card in order to stimulate consumption. This card is only used in shopping malls and can enjoy certain discounts. Its advantage is that the credit record it establishes is universal, just like a regular credit card. Moreover, this kind of business credit card application threshold is low, and students can try it. For example, major airlines also have similar credit cards, such as United Airlines, whose credit cards can give away 30,000 points in flight accounts as long as they apply. If you often fly with this airline, you can exchange air tickets for domestic or international routes for free.

Please ask friends and relatives to guarantee the application.

The purpose of this method is that the bank can confirm that if you can't repay the loan, someone can guarantee repayment for you. The guarantor must have a good credit record and repayment ability.

In short, debit cards and credit cards are both necessities for students to live abroad. If you plan to stay in the United States for a long time, it is suggested that you can apply for 2-5 credit cards and don't spend money indiscriminately, so that credit will accumulate faster. Moreover, the advantage of credit card over debit card is that if your credit card is stolen, you can report the loss to the bank, and the bank can refund the lost money to you once it is verified. And even if the debit card is lost and the money is scratched, it can't be found back.