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I have done a post on Credit Cards back in 2008. I am more informed now than I was back then. The information I provide here, is based on experience.  Experience based on my own life and looking at how my friends have used it.

There are people who will say that credit cards are evil and we need to stay away from them. I would say credit cards are a tool and it is a very powerful tool if you use them right. Use them don’t abuse them.


Credit Card for an International Student

Lets look at the International Student’s perspective. If you are an International Student, I would tell you not to apply for a credit card if you can. Manage your expenses with Cash and Debit Card. Don’t worry about building a credit history, it will build itself if you pay your bills on time. One other alternative is to get a secured credit card from your university bank. Secured Credit Cards are a good alternative for building credit history. They are similar to debit cards where you have to deposit money into them to use them in return  all the purchases and repayment count towards your credit history.

Credit History and Credit Score will be thrown around a lot in US. It’s better you do some read up on these, to understand what these are and how they are used.

A good time to get a unsecured credit card is after you get a Job.


What will happen if you misuse credit cards?

If you misuse credit cards, here are some of the ill-effects which you will experience.

You credit score will go down. A low credit score will make in very difficult to secure loans. Even if you secure a loan you will pay high interest rates

For eg:

If your score is less than 675 ( a hypothetical number), you will get a high interest rate on your Auto Loan. For eg: you will pay 8 percent interest on a 60 month car loan. On the other side, if  you have a score of 720 or higher , you can get a Auto Loan for 2 percent. See the difference, you could end up paying a lot more for the same loan.

Same point stands for Mortgage Loan as well.

You will also end up getting a higher interest on Credit Cards.

You will be left with High Interest low benefits Credit Cards, you will not be eligible for High End credit cards.


How you can use a credit card as a tool ?

I will give you an example of one of my favorite credit cards. The chase sapphire preferred.

As per the current offering the chase preferred credit card offers 50k bonus points if you spend $4000 in 3 months. Usually it is 40k bonus points

Now I can go into detail how these points can be used to book vacations without spending any cash from your pocket, but I ll let an expert do the explanation

How to redeem the points?


What are the benefits of the chase sapphire preferred card?













Please sign the petition below, so that the white house can take immediate action to fix this shocking issue.




The following text is from http://www.immigration-law.com/

Federal District Court in DC Vacates STEM OPT 17-Month Extension Rule on 08/12/2015 Effective 02/12/2016, Subject to Procedural Rectification

  • The court finds that the STEM OPT 17-month extension was enacted with the defective notice and comment required for the rule making and this rule is invalid. Considering the impact of the decision, the court stays effective date of invalidation of the rule for six months through February 12, 2016, subject to the DHS procedural rectification during the period. One saviour in the decision is that the agency now rectify the flawed rule-making process. WOW! Please read the full text: Washington Alliance of Technology Workers v. U.S. Department of Homeland Security, Civil Action No. 14-529 (ESH), U.S. District Court in the District of Columbia, 08/12/2015.

  • STEM OPT and prospective STEM OPT applicants should follow closely development of the DHS actions, whether to rectify per the court ruling or appeal the decision.

Update 1 (08/15/2015) from http://www.immigration-law.com/

  • As we reported yesterday, this court decision made two points clear. Firstly, the court decided to delay (stay) invalidation of the rule until 02/16/2016 to save current STEM OPTs from requirement of immediate departure from the date of order. Thus, if the DHS fails to rectify the procedural defects and enact it a rule timely with no legal defects, the current STEM OPT could be required to depart from the country after 02/16/2016. Secondly, the Court has given a chance for the DHS to rectify the flaws in the rule-making process by enacting the STEM OPT rule after going through notice in the federal register with a period of comment, all within less than six (6) months or by 02/16/2016. Assuming that the DHS decides to rectify the flaws and initinates and completes the new rule-making process rather than appeal of the decision before the court of appeals, there are a few questions that beg the questions.
  • Firstly, the agency within the DHS is not USCIS but USICE which has jurisdiction for student OPTs. It is the USICE that enacted the problematic STEM OPT rule without notice and comments in the rule-making process on the premises on the ground that the rule involves an “emergency” and could not afford going through the time-consuming notice and comment process. This court disagreed with the “emergency” argument of the USICE when vacating this rule. This begs a problem for the USICE. If the USICE is requied to initiate a new process with notices and comments in the rule-making process starting from the “proposed” rule step, there is a serious question as to whether the agency would be able to complete the rule-making process within less than six months from now. Secondly, the USICE indeed has been planning on initiating a “proposed” rule-making process beginning from August 2015, according the rule-making agenda, to amend the STEM OPT rule to extend the beneficiaries of this rule. Unfortunately, the USICE has yet to submit its draft of the proposed rule to the OMB persuant to the rule-making rules. It begs a question of whether the USICE would be able to complete the process within the set time. Additionally, this amended rule is not to initiate the STEM OPT rule but to expand the existing STEM OPT rule. It thus begs another question of whther ot not the court will accept this initiative as complying with the court’s decision in the case.
  • Without doubt, the STEM OPT community may see some type of actions on the part of the USICE very soon. Stay tuned to this website for the forthcoming development of this critical legal challenge to employment-based immigration system.
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