Managing Finances as an International Student in the U.S.

5. Managing Expenses with Credit Cards

Once I had my SSN, I started building my credit history. My first credit card was the Discover Credit Card, which I found to be the best for paying for groceries. Discover offers quarterly discounts on select spending categories, making it a great card for maximizing savings.

After four months of using Discover, I applied for the American Express Gold card. However, Amex Gold is difficult to get without a strong credit history. If you have no prior credit history, you might get rejected. I highly recommend applying for this card only once you have a good credit score and repayment history.

One of the most useful credit cards I use is the BILT Credit Card. The reason I prefer BILT is that it allows me to pay my rent while earning rewards, something most credit cards don’t offer. Rent is a major expense for students, and using BILT ensures I get some cashback and benefits out of it.

BILT also frequently offers promotional tie-ups with brands like Uber, Lyft, Apple, and Amazon, providing cashback opportunities and deals. While the cashback might seem small, over time, it adds up—for instance, if I pay $1,300 in rent, I get around $13 cashback, and if I cover my full apartment rent of $4,000, I get $40 cashback. In a city like New York, $40 can cover several meals, making it an easy way to save money on necessary expenses.

However, BILT is not the easiest credit card to get. Many of my friends got rejected when they applied without an established credit history. I highly recommend applying for BILT only after you have built a strong credit score with other beginner-friendly cards like Discover or Bank of America credit cards.