Credit card is one of the most important payment tools abroad. Taking China as an example, the Bank of China has successively launched the Euro Credit Card, BOC Dual-currency International Credit Card, BOC JCB Yen Credit Card and other credit cards for overseas students in the UK. These types of cards can be used by international students.
Bank of China Great Wall International Credit Card has an interest-free repayment period. International students can spend first and then repay. Overseas credit cards are overdrawn within the credit limit. If there is no foreign currency to repay the overdraft directly, they can use RMB to purchase foreign exchange for repayment.
In addition to tuition fees, parents may also worry that their children will spend their living expenses abroad. Therefore, many parents choose to apply for international credit cards, that is, parents are the card owners and their children hold supplementary cards. Control children's expenses through international cards and help children develop good habits.
However, although there is no handling fee for overseas credit card spending, there is still a certain handling fee for handling cash withdrawal business at member banks organized by VISA and MAS-TERCARD, or withdrawing local legal tender from ATMs with the logo of PLUS and CIR-RUS all over the world.
In addition to paying tuition fees by credit card, students can also choose to pay tuition fees by remittance and telegraphic transfer. At present, many foreign schools require international students to pay tuition fees by telegraphic transfer. If students want to pay tuition by wire transfer, they must know the name and address of the payee, the payee's account number, and the payee's bank name and address. When you choose the remittance method, you only need to provide the correct name and address of the payee. At the same time, don't forget to leave your contact address with the bank so that the bank can contact you in time when there is a problem with remittance. Generally, the living expenses for studying abroad are mostly borne by bill exchange.
Skills of using credit cards when studying in Britain
The first trick: save money on conversion fees.
Expert advice: Choose a dual-currency card or a single-currency foreign currency card that matches the settlement currency of the destination.
Foreign currency credit card is the most useful and commonly used payment tool for international students. Before applying, international students must comprehensively evaluate the worldwide popularity of credit card products, the number of special merchants and the distribution of outlets, so as to ensure the convenience of swiping cards abroad to the greatest extent.
At present, foreign currency cards issued by domestic banks occupy the mainstream, and ICBC and China Merchants Bank, which have the largest number of domestic cards, have such products. In recent years, some banks have also begun to issue products in other currencies. For example, the Bank of China issued foreign currency card products such as pound card, euro card and Hong Kong dollar card, which provided the greatest convenience for international students to study and live in non-US dollar areas.
Experts suggest that international students can apply for a dual-currency credit card or a single-currency foreign currency card, and the currency of their foreign currency account should be the same as the destination currency, which can easily save the currency conversion fee. In this way, foreign students can use foreign currency when spending their credit cards abroad, and they can use RMB to purchase foreign exchange for repayment at home, which not only saves the currency conversion fee, but also avoids the exchange rate risk of a large number of foreign exchange exchanges in advance.
The second measure: the consumption of secondary cards is more rational.
Expert advice: the main card and the auxiliary card should be used together.
If the child is too young or has insufficient financial ability, parents can apply for a supplementary card under their own credit card name for their children to use abroad, and set an appropriate credit limit according to the consumption level of the destination country. In this way, students without credit records can also have their own credit cards, and gradually establish a financial management concept of controlling their own expenses within the credit limit. Parents can also learn about their children's consumption through transaction SMS tips and bank monthly statements to help them cultivate their awareness of rational consumption. At the same time, experts advise foreign students to develop a good credit concept, not only to ensure a good credit record through timely repayment, but also to check their credit status in time.
Bank card products are both safe and convenient, and it is also a consumption concept that international students must establish. They should keep rational consumption and only swipe their cards to buy things they can afford. If foreign students don't know much about their own expenses, experts suggest that they can control their own income and expenditure through written or online bookkeeping, reduce unnecessary expenses and better manage their personal property.
The third measure: security card anti-theft brush
Expert's suggestion: domestic application for foreign currency credit card should choose EMV standard upgrade chip.
When children live independently in a strange environment, parents' primary consideration is safety. Bank card experts suggest that international students take remittances out of the country in the form of bank cards, and their daily consumption is mainly by swiping cards, which can fully protect personal and property safety. In daily life, foreign students must take good care of their cards. When they lose their cards or encounter unauthorized transactions, they should report the loss to the issuing bank in time or immediately. In case of emergency, domestic parents can also apply to the issuing bank for temporary adjustment of the credit line.
At present, many countries have upgraded the EMV standard of bank card system. Therefore, when applying for foreign currency credit cards in China, we should try our best to choose a bank chip card that meets this standard to prevent the magnetic stripe from copying and ensure the safety of credit card swiping. For example, MasterCard has specially designed "security verification code" and "zero liability" clauses for online credit card consumption, so that overseas cardholders can enjoy the convenience of online payment with confidence.