US Credit Card Guide for F1 Students

By reading this guide, you agree to the Legal Disclaimer.

Why use US credit cards?#

If you are a credit card enthusiast, you can skip this section.

In short, US credit cards (and the entire financial system) offer generous benefits. This is because card organizations and banks charge merchants transaction fees ranging from 2% to 4% (compared to 0.6% in China after the 96 reform), and this cost is undoubtedly passed on to consumers. Therefore, users of debit cards, foreign currency credit cards issued in China, or cash are actually subsidizing the benefits of other US credit card users. By not using a US credit card, you are essentially losing money by default.

Follow the Playbook#

Since the premise is that you are an F1 student, I assume you most likely do not have an SSN. The fastest legal way for an F1 student to obtain an SSN as a freshman is to find an on-campus job. While on-campus jobs at many private undergraduate schools are currently very competitive, you can still find one if you put in the effort.

Day -300#

It’s currently application season. If you are admitted via ED, congratulations, you can start preparing to find an on-campus job. Generally, new positions may be posted during the summer before the semester begins, so use this time to prepare. Different schools post on-campus jobs in different places; some post on the official website, while others require using a school email to register for Handshake to view and apply. Please prepare your resume yourself during this stage. Generally, jobs available to freshmen are minimum-wage positions like Office Assistant, IT Desk Support, etc. It is recommended to prepare several different resumes (these jobs don’t rely heavily on professional knowledge; basic computer common sense and office software skills are enough) and fine-tune your resume according to the JD (job description) before applying.

Day -300 to -100#

After getting your F1 visa, if you can’t wait to embrace the US banking system need an account to pay tuition (actually a myth—it’s recommended to use direct bank transfers for tuition so it doesn’t count against your personal foreign exchange quota), pay rent, or Zelle money to others, you can check out East West Bank’s Global Student Account.

By submitting your Chinese passport and F1 visa remotely from China, you can get a complete US checking account. It’s worth noting that if you don’t plan to live in a school dorm but rent an apartment instead, it’s recommended to open this account in advance. Apartment applications usually require several months of US bank statements. After approval, you usually need to pay one month’s rent + a security deposit equal to one month’s rent + a guarantor fee equal to one month’s rent in advance (depending on the situation; private landlords usually don’t require this, and some apartments waive the guarantor fee with an I-20). If you don’t have a US bank account, even if you can pay by credit card, you might lose hundreds of dollars in transaction fees. Unless you’re trying to hit a sign-up bonus spend.

Day -100 to Day -14#

By now, you should have booked your flight. Depending on your itinerary, you can consider making an appointment for Bank of America to open a checking (and saving) account and apply for the BoA Customized Cash Rewards (BoA 321). As the fastest way to start building a credit history in North America, the importance of this card goes without saying (unless you are sure you can get an SSN in your first month, or have already applied for another card via HSBC or Amex GT, which is outside the scope of this article). Although the sign-up bonus (SUB) for BoA Checking technically requires an RA status for online applications (see Tax Residency Status Analysis), you will usually be automatically enrolled and trigger the offer when opening an account in person. Additionally, as an F1 student with 0 credit history wanting to apply for the BoA 321, opening a BoA checking account is essential. Although you can apply for a bank account and credit card simultaneously, some data points (DP) suggest the application might be held for a few weeks, so it’s best to wire some money from China after opening the checking account before applying for the credit card. It’s recommended to tell the banker that you plan to deposit more than $20K and that the subsequent wire will be > $20k. This can directly upgrade you to BoA Preferred Rewards Gold, giving you a cashback bonus. This status is valid for one year after opening; even if you move the money out after opening, you can still enjoy the Gold Tier for a year. It’s worth mentioning that BoA 321 currently has a 6% cashback category option for the first year, which is a pretty good offer.

Day -14 to Day -0#

Now you can start setting up your SIM card. I strongly advise against joining a “family plan” with the big three US carriers (AT&T, Verizon, T-Mobile); instead, look into MVNOs for lower prices, better service, and higher flexibility. I won’t make specific recommendations here; you can check the rankings on the US Card Forum. If you use a phone that supports eSIM, you can activate some carriers directly in China and use Wi-Fi Calling to receive texts. Be sure to have a working phone number ready before opening a bank account. If your phone only supports pSIM, you can mail it to your apartment/dorm in advance; if the dorm doesn’t accept early packages, you might look into physical eSIM cards.

Chase appointments can be booked 14 days in advance. Building a quality relationship with Chase is a mandatory course on the road to US credit cards. Whether or not you successfully get a job, you should open a Chase Checking Account (and Savings) to “move funds” for a reconsideration (recon) if you have a short credit history when you finally get your SSN. Furthermore, Chase (as of this writing) consistently offers a $900 sign-up bonus, which is not restricted by tax status—F1 students can get it too. How to get this bonus will be explained below.

How much money should I transfer from home?#

Currently, most HYSA (High-Yield Savings Accounts) in the US offer a humiliating 0.01% APR for high-liquidity savings accounts before you get an SSN, excluding CDs. So, how do you minimize interest loss? The answer is to “invest” indirectly through the sign-up bonus requirements of major banks like Chase. Depositing $15,000 for 60-90 days to get $900 results in the following equivalent APR calculation:

Chase’s $900 bonus requires depositing money, while BoA only requires a dd.

*offer may change

You can check the BoA-recognized direct deposit methods on this DoC page. As of this writing, the most convenient method is using a Chase ACH push of $10,000 to BoA, which triggers automatically upon meeting the criteria. Also, regardless of residency status, they will mail a 1099-INT. Since you don’t have an SSN, the bonus will be subject to a 24% backup withholding tax, which you can claim back during the following year’s tax season.

So, a good strategy is to transfer $30,000 more than your fixed expenses (like rent and tuition) to the US in the first few months. Use $15,000 for the Chase bonus and $10,000 for the BoA bonus (transferred from Chase).

Day 0 to SSN#

After arriving in the US and opening your bank accounts, you can start looking for on-campus jobs with full effort. Every school is YMMV (Your mileage may vary).

While waiting for your on-campus job offer to enter the SSN application process, you can start “moving bricks” (transferring funds) from China to your Chase checking. You might lose some interest opportunity cost during this time, but the returns from credit cards far outweigh the loss.

How to get the Chase $900 Bonus?#

Note that $700 of the bonus requires a direct deposit (dd).

…set up direct deposit within 90 days of coupon enrollment

For undergraduate students without an SSN or income, how do you perform a “fake dd”? Since Chase’s dd requirement doesn’t have a minimum amount, there are actually many ways. The simplest might be a school refund. Using NYU as an example:

When to Expect a Refund#

A refund could appear on your account for many reasons:

• Financial aid.
• Overpaying or cancelling a charge. If you changed your meal plan, changed your on-campus housing assignment or waived your student health plan, you could be owed a refund. If you’re owed a refund for overpayment or cancelling a charge, we’ll automatically refund your credit after the fifth week of classes, unless otherwise noted.
• Dropping/withdrawing from a class. You may receive a cancellation of tuition charges after dropping a class or withdrawing from a semester.

As you can see, besides scholarships and dropping classes, many situations trigger a refund. For example, many schools allow you to waive school insurance with outside insurance; residential students are usually forced to buy a meal plan, often the most expensive by default, and downgrading to a cheaper plan can trigger a refund. Note that if the school doesn’t support refunds via direct deposit (where you enter your Account & Routing No.) and only supports checks, you’ll need to find another way.

After getting your SSN#

After getting your SSN, the three major credit bureaus won’t have your SSN records yet. You need to go to BoA to link your SSN. However, banks can internally match your credit history based on your name, DOB, etc., so you can apply for a Chase credit card at this point. Because of the 5/24 rule, try to make your first 5 cards all Chase cards.

As long as the applicant has opened 5 or more new accounts in the past 2 years, Chase will reject the application directly, regardless of how good your credit record or score is. The number of new accounts includes all credit cards from all banks, not just Chase. This policy is known as the 5/24 rule. (uscreditcardguide.com)

It might be tempting to apply for other credit cards like Apple Card, but please be advised you are forfeiting at least $500-$1000 in opportunity cost per card. Unless you are certain a card can bring you higher returns (like the Bilt card before its changes), please try to fill your 5/24 slots with Chase cards.

Which Chase card should I apply for?#

Personal ranking: CSR (first year) > CSP > CFF = Airline/Hotel co-branded cards > CFU

The CSR (as of 2026/01) has a 125K SUB >> CSP 75K SUB. Although the CSR’s annual fee is $795, after subtracting the $300 travel credit that will definitely be used, and the $420 Doordash + Lyft credit (valued at 30%), plus eating two fancy meals ($300), the first year definitely yields a positive return. You can downgrade after the second year.

The points earned by this card are Ultimate Rewards (UR), which we value at 1.6 cents/point. Therefore, the 125k sign-up bonus is worth approximately $2,000!

Application Strategy#

Credit history over six months#

If you have “bricks” (significant deposits), there’s a high probability of getting approved for the CSP, and CSR might also be possible; please check DP posts on the US Card Forum and Xiaohongshu. If you don’t have “bricks,” it’s recommended to start with the CFF and apply for premium credit card products once your credit history is over a year.

The CSR is a Visa Infinite card with a floor limit of $10,000; it’s almost impossible to get approved with a short credit history and no deposits. In contrast, the CSP is a Visa Signature card with a floor limit of only $5,000.

Short credit history#

If you have many “bricks,” CSP seems possible. Without deposits, consider applying for the CFF. You can likely get approved after a few recon calls.

“With dd, ‘half a brick’ in the account, zero credit, in the US for a month and a half, reported 30k income, instant approval for CFU with 1k2 limit at the branch”

— https://www.uscardforum.com/t/topic/195402/29

Regarding Discover#

Xiaohongshu might be full of promotions for the Discover it card, and even guides highly recommend it for beginners. If you don’t want to study the Chase UR system and point transfers, Discover is a good choice. $0 annual fee, strong quarterly categories, and 10% cb in the first year. However, if you decide to dive into US credit cards with the goal of getting free business class flights for home visits and high-end hotels, getting into Chase as early as possible is a better choice. Although Discover’s cashback rewards are generous, the CFF also earns 5x points (quarterly limit of 7500 UR). With UR valued at 1.6 cpp, the 5x return rate is 1.6 × 5 = 8%. If you can use them at a value of 4 cpp, the return far exceeds Discover’s fixed 5%. While the BoA 321 mentioned above is also pure cashback, it’s a necessary choice when you don’t have an SSN. Discover requires an SSN to apply. If Discover also didn’t require an SSN, it would be the new legendary card.

How to apply#

For your first card, I recommend going to a physical branch because you’ll likely encounter ID verification issues and end up at a branch anyway. I applied for my first Chase card at a branch with 5 months of credit history; the banker helped verify my identity over the phone, and it was instantly approved. After the first card is approved, you can consider MDD to combine HPs. It’s recommended to wait at least three months before applying for the next card.

What if I just can’t get an SSN?#

The most desperate situation for a card fan. While there might be some “gray area” methods on Xiaohongshu, the optimal solution is always to find an on-campus job as soon as possible. Freshman jobs can indeed be hard to find (especially at certain private schools without cafeteria positions), but if you persist in checking Handshake and applying every week, you will eventually get interviews and offers. Don’t be discouraged if you can’t find a job short-term; most freshman jobs are manual labor. By the time you are a sophomore or junior, you can find easier intellectual work like TA/RA positions, earning money easily while holding your SSN.

Additionally, if you find a US internship during a break and start CPT, you can also apply for an SSN. If all else fails, you can apply for an SSN directly when you start OPT after graduation.

Indirect Routes#

During this time, consider looking for other credit cards that accept applications without an SSN. After building 3 months of credit history with the BoA 321, you can try applying for entry-level AmEx cards (like the BCE).

Note: AmEx applications over the phone require you to be 21 or older.

ITIN#

If you are truly desperate and don’t see an SSN in your near future, and decide to apply for an ITIN, congratulations, you’ve joined the ranks of the “UTC+8 players,” except you are physically in the US. This is a huge advantage because you have a DL (Driver’s License) and can physically go to a branch. Except for a few banks that don’t support ITIN for account opening and the future hassle of merging data once you get an SSN, the experience is almost the same as an SSN player.

The ITIN guides often don’t consider the poor F1 student who can’t find an on-campus job. So what’s a realistic reason for an F1 to apply for an ITIN? A practical reason is being a Nonresident alien filing a U.S. federal tax return. The guides usually gloss over this.

1. NRAs need to file US federal taxes. These two points are for people with US income. Usually, if it’s work income, you can apply for an SSN, so these two aren’t often used.
2. Same as above.

While this seems fine, since having legal work income guarantees an SSN, taxable income also includes bank sign-up bonuses. This brings us back to what we discussed about BoA sign-up bonuses. See? The pieces of the puzzle fit together. If the BoA bonus exists and Chase successfully triggers a fake dd, you can logically use the 1099-INT during the following year’s tax season to claim your withheld tax and apply for an ITIN at the same time.