Studying abroad is expensive, so a safe and convenient way to pay tuition is very important for international students. Many people choose to pay tuition fees by credit card for studying in the UK. Next, the editor of Tiandao Study Abroad will introduce to you how to pay tuition fees by credit card for studying in the UK.

Credit cards are one of the most important payment tools abroad. Taking Bank of China as an example, Bank of China has successively launched Euro Credit Card, BOC Dual Currency International Credit Card, BOC JCB Japanese Yen Credit Card and other credit cards targeted at people studying in the UK. International students can choose to apply for these types of cards.

The Bank of China Great Wall International Credit Card has an interest-free repayment period. Students studying abroad can consume first and repay later. Overseas card holders can overdraft consumption within the credit limit. If there is no foreign currency to repay the overdraft directly, they can use RMB to purchase foreign exchange. Repayment.

In addition to tuition fees, parents may also worry about their children spending extravagant living expenses abroad. Therefore, many parents choose to apply for an international credit card, that is, the parent is the card owner and the child holds the supplementary card. Control your children's spending with international cards and help them develop good habits.

However, although there is no handling fee for swiping international cards overseas, cash withdrawals must be made at member banks of VISA and MAS-TERCARD organizations, or at ATMs with PLUS and CIR-RUS logos around the world. To withdraw local legal currency, you still need to pay a certain handling fee.

In addition to paying tuition fees by credit card for studying in the UK, students can also choose to pay tuition fees by bank draft, wire transfer, etc. Currently, many foreign schools require international students to pay their tuition fees by wire 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, the name and address of the payee's bank, and other information. When choosing the draft 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 if there are problems with the remittance. Generally, living expenses for studying abroad are mostly carried by money transfer.

Tips for using credit cards for studying in the UK

The first tip: save currency conversion fees

Expert advice: Choose a dual currency that matches the settlement currency of your study abroad destination card or single-currency foreign currency card

Foreign currency credit card is the most useful and common payment tool for international students. Before applying, international students must comprehensively evaluate the global popularity of the credit card product, the number of special merchants and the distribution of outlets. The maximum Ensure the convenience of credit card swiping abroad to the greatest extent.

Currently, U.S. dollar cards dominate the foreign currency cards issued by domestic banks. Industrial and Commercial Bank of China and China Merchants Bank, which are among the largest domestic card issuers, have such products. In recent years, some banks have begun to issue products in other currencies. For example, Bank of China has issued foreign currency card products such as pound card, euro card and Hong Kong dollar card, providing maximum 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. The currency of their foreign currency account should be the same as the currency in circulation in the destination where they study abroad, so as to easily save currency conversion fees. In this way, international students use foreign currency cards for consumption abroad and can use RMB to purchase foreign exchange for repayment at home. This not only saves currency conversion fees, but also avoids the exchange rate risks associated with large-scale foreign exchange exchanges in advance.

Second tip: Spend more rationally with supplementary cards

Experts suggest: Use primary and supplementary cards together

If the children are too young or have insufficient financial management skills, parents You can apply for an additional card under your own credit card name for your children to use abroad, and set an appropriate credit limit based on the consumption level of the country where you are studying abroad. In this way, students with no credit history 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 spending through transaction text message reminders and bank statements to help them develop a sense of rational consumption. At the same time, experts recommend that international students develop a good credit concept. They should not only pay back their loans on time to ensure a good credit record, but also check and understand their credit status in a timely manner.

Bank card products combine safety and convenience. Maintaining rational consumption and only swiping your card to purchase items you can afford is also a consumption concept that international students must establish.

If international students do not know much about their spending, experts suggest that they can use written or online accounting methods to control their income and expenditure, thereby reducing unnecessary expenses and better managing personal property.

Third tip: Use the card safely to prevent theft

Expert advice: Domestic applicants for foreign currency credit cards should choose EMV standard upgraded chips

Children must be independent in an unfamiliar environment In life, the primary issue that parents are most concerned about is safety. Bank card experts suggest that international students carry remittances out of the country in the form of bank cards and mainly use credit cards for daily consumption, which can fully protect the safety of their personal and property. In daily life, international students must keep their cards carefully. If they lose their cards or encounter unauthorized transactions, they should immediately report the loss or report to the card issuer. In the event of an emergency, parents in China can also apply to the card-issuing bank to temporarily adjust their credit limit.

Currently, many countries have completed the EMV standard upgrade of bank card systems. Therefore, when applying for foreign currency credit cards in China, you should try to choose a bank chip card that meets this standard to prevent magnetic stripe duplication and ensure the safety of card swiping. . For example, the MasterCard organization has specially designed "Secure Code verification" and risk-free "zero liability" clauses for online card consumption, so that overseas cardholders can safely enjoy the convenience of online payment.