The strategy of getting the first credit card As an international student, you will face more difficulties than other people who apply for a credit card for the first time because of your lack of credit history, income and permanent residence. In order to achieve the greatest possible success, you really need to do some work within your power. The following strategies will save you a lot of time and energy. As long as you follow these methods, you may get your first credit card in a few weeks. Strategy 1: Ask many schools and alumni associations in your school to provide branded credit cards for their students and alumni. These cards are standard credit cards issued by financial institutions attached to these schools. Don't forget to compare the interest rate with the terms of use before submitting the application. Strategy 2: Apply for student credit cards. Some credit card issuers will issue credit cards specifically for students. These credit cards do not require the cardholder to have income or work, but the initial credit limit allowed is generally relatively low. Most students' credit cards do not include annual fees, and their APR (abbreviation of Annual Percentage Rate) refers to the annual interest rate of loans on credit cards. If you pay the balance you owe on time every month, you generally don't have to pay any more, that is, an interest-free loan; Otherwise, APR applies to the outstanding balance of each month. ) is equivalent to a standard credit card issued by the same issuer. Besides the low initial credit limit, the student credit card can bring you convenience just like the standard credit card, and it is a good starting point for you to establish a credit history. You'd better attach a copy of your student ID card to prove your student status. Some of the most popular student credit card issuers are: .americanexexpress.at &; Tuuniversal. Bank of America. CapitalOne. Wells Fargo Bank Strategy 3: Open a premium bank account or investment bank account with credit card services. Some banking institutions provide a full range of financial services (including checks, investments, credit cards and payment services) under the same account. Such as American Express's Brokerage Account, Chase's Select Banking, Citibank's CitiGold and Wells Fargo Bank's Portfolio Management Account. It is more economical to open an investment bank account than a standard checking account if you can keep a high balance. Investment accounts can provide you with more choices and allow you to manage your financial assets better. Strategy 4: Apply for a secured credit card If none of the above methods work, you can apply for a secured credit card. Guaranteed credit card requires you to deposit an initial deposit in the bank account of the credit card issuer to guarantee the credit limit. Guaranteed credit cards have the same purposes as ordinary credit cards, are as convenient as them, and have the same flexible payment methods. This kind of card is a good "starting point card", which is helpful for you to establish a credit history. Strategy 5: Start with shopping mall credit cards or other single-purpose credit cards such as gas cards. Many retail stores such as Sears, Macy, Circuit City and others issue their own credit cards. A good way to apply for a credit card in a retail store is to buy a large commodity and choose the method of payment by credit card, so that your application may be approved within a few minutes, ensuring that it is enough to pay for the goods, and you can usually get some extra discounts when you make your first transaction with a newly effective credit card. Using this credit card responsibly can also help you build a credit card history. In case your application is rejected, don't worry. Federal laws, especially the Equal Credit Card Opportunity Act, require lenders to give a written notice if they refuse your credit card application. According to this law, when your credit card application is rejected, the written notice must contain the following two important information: a. The specific reasons for rejecting the credit card application (or the methods to find these reasons); B. If a credit report was used when making the decision, the name and address of the institution that issued the credit report. If your credit card application is rejected, you can take the following steps to increase your chances of success in continuing your application: Step 1: Find out why you were rejected. Lenders usually state the reasons for rejecting your application in the rejection letter. If you are still unclear about the reasons for rejection, you can ask for specific information. Sometimes it is difficult to find out the exact reason why your application was rejected, because these decisions involve a lot of different factors. Don't be shy to ask questions, because the information you get can help you improve your credit status, so that you may be eligible to apply for a credit card in the future. Step 2: Get your credit report. If the lender uses the credit report to decide whether to issue you a credit card, you have the right to get a copy of the report for free. You must request this report within 6 days of being rejected, don't wait to order it. Read the report carefully to ensure that it is accurate and complete. If you do find mistakes, you should argue with the credit card bureau directly. If necessary, errors will be required to be investigated and corrected. If you think that an error in the report caused the application to be rejected, you can ask the credit card bureau to send a corrected report to the lender to see if the lender can re-examine your application. Step 3: Try again and consider applying for a credit card with a lower initial limit. All lenders have different recognition standards. Failure to get recognition from one issuer does not mean that other issuers will not allow it. Try another financial institution, but be careful not to apply for more than four or five credit cards within six months. If too many companies audit your credit report in a short time, it will have a negative impact on your credit status. It's in the mail. If all goes well, you can receive the permission notice in three or four weeks. Detailed terms of use and user's guide are mailed together with the credit card that you have just obtained permission, but your credit card can't be used yet. Before you invite friends to celebrate your success, first complete the following things: a. Read the terms of use and make sure they are the same as when you signed them. B. sign on the back of the card. C. Make a phone call according to the instructions on your credit card, and then you can use it.