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Self Score has now launched an upgraded credit card for international students, and it is a Mastercard Platinum.

[Update 5/15/2017] You can now get a $30 welcome bonus by applying through a referral link; there is no bonus if you apply directly on the official website. If you already have this card, you can earn $30 for each friend you refer, plus an extra $200 after reaching 10 referrals. The official email is shown below:

Self Score Achieve Credit Card Review

Application Link

None

Key Features

  • Welcome bonus: $30 (after making one purchase following account opening)
  • Cash back: 1% on all purchases
  • Cash back redemption: Redeem directly as Statement Credit
  • No FTF foreign transaction fee
  • No annual fee

Highlights

  • Credit limit up to $5,000: A good fit for international students who need a higher limit.
  • No HP on application: Applying for this card will not result in an HP, because approval is not based on your credit history.
  • 0 APR: Purchases made within the first 180 days after account opening incur no interest; you only need to pay the minimum payment each month. See: How to pay during 0 APR and Practical uses of credit card 0 APR offers
  • Referral bonus: If you already have this card, you can earn $30 for each friend you refer, plus an extra $200 after reaching 10 referrals.
  • Legitimacy: Although Self Score is not a bank, its Self Score Mastercard for international students is issued in partnership with Celtic Bank, a legitimate bank headquartered in Salt Lake City, Utah. So there is no need to worry about whether it is legitimate or whether the card is secure.
  • Self Score scholarship: If you have a Self Score credit card and register for its online account, you can apply for Self Score’s own exclusive scholarship, worth up to $5,000. This year’s application deadline is 12/15/2016, so interested students should apply soon.

Drawbacks

  • This card is only available to international students. At present, U.S. citizens and green card holders cannot apply. They used to approve applicants with dependent visas as well, such as F2, but no longer do so.
  • After you apply for the SelfScore Achieve Mastercard, SelfScore will determine whether you qualify. If you do not meet the requirements, you may be downgraded to the SelfScore Classic Mastercard. If you do not qualify even for the Classic version, your application will be denied.

My Take

As an upgraded card aimed at international students, this is an exciting product. It shows that someone is not only paying attention to international students, but is also starting to offer us better benefits, including cash back on everyday spending. :cry: I think this card is especially suitable for newcomers to the U.S. who do not yet have an SSN. It is indeed a good card for building credit history while also earning cash back on regular purchases. Compared with a debit card, which offers no rewards and weaker fraud protection, it is better to apply for a proper cash back credit card.

About the most important part—building credit history: New accounts are generally reported to two major credit bureaus about 3 months after opening: Experian (EX) and TransUnion (TU). For most people applying for credit cards, many issuers pull EX, so building credit history with EX and TU is already sufficient. Many people mistakenly believe that you cannot build credit history without an SSN, but that is not true. Your credit history does not start on the day you receive your SSN. Instead, it starts from your first borrowing relationship (for example, applying for a credit card). When you are approved for a credit card, the credit bureaus identify you through your name, date of birth, and address. You can still build credit history without an SSN; once you later obtain an SSN, your earlier credit history will be linked to it and will not be lost.

Of course, if you are like me and have already applied for most cards you want, are at Chase 5/24, are close to the AMEX five-card limit, and cannot get approved for Citi lately because of too many HPs, then during the waiting period when you cannot apply for cards from the major traditional banks, you can still apply for this one to keep building credit history. That said, if you already have an SSN, I would still recommend Discover it as your first credit card.

Application

  • Application difficulty: Legal international students on F, M, and J visas (they used to approve dependent visas such as F2 as well, but no longer do so)
  • Required documents: Passport; valid visa; I-20 form; bank account information or a Bank statement (after opening a U.S. bank account, you will usually receive a free bank statement every month)
  • Tip: When I applied, I linked my bank information directly. It seems Self Score could access your bank statement and related information on its own, so you may not need to upload a separate bank statement document.

Application Link

None