Why Credit Card is Essential for PhD or Research Scholars?

Credit card for Researcher


Credit cards play a crucial role in the financial lives of PhD or Research students, offering them a range of benefits and advantages. While not mandatory, having a credit card can provide financial flexibility and convenience, especially for students pursuing their doctorate degrees. It allows them to navigate various financial situations and meet academic-related expenses efficiently.

For instance, during their research journey, PhD/ Research students may encounter unexpected expenses such as purchasing specialized equipment, attending conferences, or accessing scholarly resources. A credit card provides a safety net for such situations, enabling students to manage these expenses conveniently without having to rely solely on their limited savings or face financial hardships.

In this blog post, we will explore the numerous benefits that credit cards offer to PhD students. These benefits can be particularly advantageous for international students studying abroad, but they are also applicable to students in their home countries.

By understanding and utilizing these benefits, PhD students, including international students, can make informed decisions about acquiring a credit card and optimize its advantages throughout their academic journey.

Financial Flexibility and Convenience

A. Emergencies and unexpected expenses

PhD students often encounter unforeseen emergencies or unexpected expenses during their academic journey. Having a credit card provides them with a valuable financial safety net in such situations. For instance:

  • Medical Emergencies: If a student faces an unexpected medical expense or requires urgent healthcare services, a credit card can cover the costs until reimbursement from insurance or other sources.
  • Equipment Failure: Research equipment can sometimes malfunction or require urgent repairs. A credit card allows students to quickly address these issues by covering the repair or replacement costs, ensuring minimal disruption to their research progress.
  • Travel Delays or Cancellations: Flights or accommodations may be unexpectedly delayed, cancelled, or changed. A credit card provides flexibility in rebooking alternative travel arrangements or securing temporary accommodations during such disruptions.

B. Online purchases and access to academic resources

The digital age has transformed academic resources and research materials, making many of them available online. Credit cards enable PhD students to make online purchases and access valuable academic resources conveniently. Examples include:

  • E-Books and Journal Subscriptions: Many academic books, articles, and journals are now available in digital formats. Credit cards allow students to purchase e-books or subscribe to online journal databases, ensuring access to essential scholarly materials from the comfort of their own devices.
  • Research Software and Tools: PhD students often require specialized software or tools for data analysis, simulation, or other research purposes. Credit cards provide a seamless payment method for purchasing or subscribing to these tools, ensuring students can access the necessary resources for their research projects.
  • Online Course Enrollment: Some PhD students may opt for online courses or additional training programs to enhance their academic and research skills. Credit cards facilitate the enrollment process by enabling online payment for these educational opportunities.

Conducting research often involves various expenses, such as participant compensation, lab supplies, or data collection tools. A credit card serves as a convenient payment method for these research-related expenses. Examples include:

  • Participant Compensation: When conducting experiments or surveys that involve compensating participants, credit cards offer an efficient way to distribute payments securely and accurately.
  • Lab Supplies and Equipment: Purchasing chemicals, laboratory equipment, or research materials can be easily done with a credit card. It streamlines the procurement process and allows students to acquire the necessary supplies without the hassle of cash transactions or delays associated with other payment methods.
  • Fieldwork Expenses: Field research often requires expenses for transportation, accommodations, or other logistics. Credit cards simplify these expenses by providing a widely accepted payment method, whether it’s for booking flights, reserving accommodations, or covering other travel-related costs.

By having a credit card, PhD students can navigate unforeseen emergencies, access digital academic resources, and conveniently manage research-related expenses, ensuring smooth progress in their studies and research pursuits.

Travel and Conference Benefits

A. Booking flights and accommodations

PhD students often need to travel for research purposes, conferences, or collaborations. Credit cards offer several advantages when it comes to booking flights and accommodations:

  • Flight Bookings: Credit cards provide a convenient payment method for booking flights online or over the phone. Students can compare prices, choose the most suitable options, and secure their travel arrangements quickly and efficiently.
  • Hotel Reservations: When attending conferences or conducting research in different locations, credit cards simplify the process of reserving hotel accommodations. Students can secure their preferred accommodations, take advantage of discounts or loyalty programs, and easily manage their reservations.
  • Travel Insurance: Some credit cards offer travel insurance as a benefit. This can provide coverage for trip cancellations, lost luggage, medical emergencies, or other unforeseen events. It adds an extra layer of protection and peace of mind during travel.

Scan through my blog posts on upcoming research conferences in exotic destinations listed below. Visit these places with friends and family, build a research network and enjoy the trip with a Credit Card !!!!!.

  1. Researchers Guide for Upcoming International Conferences in Singapore

2.Thailand: Upcoming International Conferences and Travel Guidelines

3. Upcoming International Conferences in Exotic Goa, India

B. Registration fees for academic events

Academic conferences, seminars, and workshops are crucial for PhD students to present their research, network with peers, and stay updated with the latest developments in their field. Credit cards offer convenience when it comes to paying registration fees:

  • Online Registrations: Most academic events allow online registration, and credit cards are a widely accepted payment method. Students can conveniently register for conferences or other academic events, ensuring their participation and access to valuable networking and learning opportunities.
  • Early Bird Discounts: Many conferences offer early bird registration discounts for those who register in advance. Credit cards enable students to take advantage of these discounted rates, potentially saving them money on registration fees.

C. Travel rewards and discounts for international students

International PhD students, in particular, can benefit from travel rewards and discounts provided by certain credit cards. Examples include:

  • Airline Miles: Some credit cards offer airline miles or frequent flyer rewards for purchases made with the card. As international students frequently travel, they can accumulate miles and redeem them for discounted or even free flights, reducing their overall travel expenses.
  • Airport Lounge Access: Certain credit cards provide access to airport lounges, offering a comfortable and relaxing environment during layovers or waiting times. This perk can be especially valuable for international students who often have long-distance flights or connecting flights.
  • Travel Discounts: Credit cards affiliated with travel companies or specific airlines may offer discounts on flights, hotels, or car rentals. International students can take advantage of these discounts to save money on their travel expenses.

By using credit cards, PhD students can conveniently book flights and accommodations, pay registration fees for academic events, and take advantage of travel rewards and discounts, making their research-related travel more efficient and cost-effective.

Building Credit History

A. Importance of Establishing Credit History

Building a credit history is important for PhD students as it lays the foundation for their future financial endeavours. A credit history is a record of how individuals manage credit and debt, and it serves as an indicator of their financial responsibility. Establishing a positive credit history offers several benefits:

  • Loan Applications: When PhD students eventually need to apply for loans, such as student loans, car loans, or mortgages, a positive credit history can increase their chances of approval and help them secure more favourable terms, such as lower interest rates.
  • Rental Applications: Many PhD students rent apartments or houses during their studies. Landlords often consider credit history when evaluating rental applications. A good credit history can help students stand out as reliable and responsible tenants.
  • Future Financial Opportunities: As students progress in their careers, they may need access to credit for various reasons, such as starting a business, financing research projects, or pursuing further education. A solid credit history can open doors to these opportunities.

B. Responsible credit card usage to build positive credit

Building a positive credit history requires responsible usage of credit cards. Here are some key factors to consider:

  • Timely Payments: Paying credit card bills on time is crucial for maintaining a positive credit history. Students should ensure they make at least the minimum payment by the due date to avoid late payment fees and negative marks on their credit reports.
  • Low Credit Utilization: Credit utilization refers to the percentage of available credit that a student utilizes. Keeping credit card balances low in relation to the credit limit demonstrates responsible credit usage. It is generally advisable to aim for a credit utilization rate below 30%.
  • Avoiding Excessive Debt: Accumulating excessive credit card debt can negatively impact credit history. Students should be mindful of their spending and ensure they can comfortably manage their credit card balances without carrying high levels of debt.

C. Future financial implications and opportunities

A positive credit history built through responsible credit card usage can lead to various future financial implications and opportunities:

  • Lower Interest Rates: A good credit history can result in lower interest rates when applying for loans or credit in the future. This can save students significant amounts of money over time.
  • Enhanced Borrowing Power: Building a positive credit history increases students’ borrowing power, allowing them to access higher credit limits, if needed, for major purchases or emergencies.
  • Credit Card Upgrades: As students demonstrate responsible credit card usage and build a positive credit history, they may become eligible for credit card upgrades, offering improved rewards, benefits, and features.

By using credit cards responsibly, PhD students can build a positive credit history that opens doors to future financial opportunities and helps them establish a solid foundation for their financial well-being.

Benefits for International Students

A. Currency conversion and online shopping

Credit cards provide significant advantages for international students when it comes to currency conversion and online shopping:

  • Currency Conversion: International students often face the challenge of converting currencies when making purchases or managing expenses in their host country. Credit cards simplify this process by automatically converting the transaction amount into the student’s home currency, saving them from dealing with exchange rates and potential fees.
  • Online Shopping: Credit cards are widely accepted for online purchases, allowing international students to shop from global retailers and access a wider range of products and resources. They can conveniently order textbooks, research materials, or other necessary items without the need for local currency or complicated payment methods.

B. Handling emergency expenses abroad

Being in a foreign country can bring unexpected situations that require immediate financial assistance. Credit cards offer international students a safety net in such emergencies:

  • Medical Emergencies: If an international student faces a sudden medical emergency while studying abroad, a credit card can cover medical expenses, hospital bills, or medication costs until insurance reimbursements are processed.
  • Travel-related Emergencies: In the event of travel disruptions, such as missed flights, lost baggage, or emergency accommodations, a credit card can provide immediate funds to resolve these issues and ensure students’ well-being.

C. Building credit history in a foreign country

International students often need to build a credit history in their host country to access various financial opportunities. Credit cards can be instrumental in establishing a credit profile:

  • Credit History: Using a credit card responsibly and making timely payments helps international students build a credit history in the host country. This credit history demonstrates their financial responsibility and can be beneficial for future endeavours, such as renting an apartment, applying for loans, or obtaining credit for business purposes.
  • Local Financial Services: A credit history in the host country allows international students to access a wider range of financial services, such as opening bank accounts, applying for local credit cards, or obtaining favorable interest rates on loans.

By utilizing credit cards, international students can simplify currency conversion, conveniently shop online, handle emergency expenses abroad, and build a credit history in their host country, enhancing their financial flexibility and opportunities during their studies.

Card Fee Waivers and Discounts

A. Student credit cards and reduced annual fees

Many credit card issuers offer student credit cards specifically designed for students, including PhD students. These student credit cards often come with benefits and features tailored to student’s needs, and they may also offer reduced annual fees or fee waivers. Examples include:

  • Reduced Annual Fees: Some student credit cards have lower annual fees compared to regular credit cards. These reduced fees help make the credit card more accessible and affordable for students, especially those on limited budgets.
  • Fee Waivers: Certain credit card issuers may offer complete fee waivers for students, eliminating the annual fee altogether. This allows students to enjoy the benefits of a credit card without incurring additional costs.

Some credit cards provide fee waivers for specific academic-related purchases or categories. These waivers can be advantageous for PhD students who often have expenses directly related to their academic pursuits. Examples include:

  • Research-related Expenses: Credit cards may waive fees for purchases of research materials, academic journals, or other scholarly resources. This benefit reduces the overall cost of accessing essential materials for PhD student’s research projects.
  • Conference or Seminar Fees: Certain credit cards may offer fee waivers for registration fees associated with academic conferences, seminars, or workshops. This allows students to participate in these events without incurring additional financial burdens.

C. Travel discounts and rewards programs

Credit cards often provide travel-related benefits, including discounts and rewards programs that can be particularly beneficial for PhD students who frequently travel for research or conferences. Examples include:

  • Travel Discounts: Some credit cards offer discounts on flights, hotels, rental cars, or other travel-related expenses. These discounts can significantly reduce the overall cost of travel for PhD students, making it more affordable and allowing them to allocate their funds for other academic needs.
  • Travel Rewards Programs: Certain credit cards have travel rewards programs that allow students to earn points or miles for their purchases. These points can be redeemed for discounted or free flights, hotel stays, or other travel-related perks, providing further cost savings for students who travel frequently.

By taking advantage of student credit cards with reduced fees, fee waivers for academic-related purchases, and travel discounts or rewards programs, PhD students can maximize the benefits of credit cards and optimize their financial resources throughout their academic journey.

Other Financial Perks

A. Cashback and rewards programs

Credit cards often come with cashback or rewards programs that allow PhD students to earn rewards or cash back on their purchases. Examples include:

  • Cash Back: Some credit cards offer a percentage of cash back on certain types of purchases, such as groceries, dining, or online shopping. Students can accumulate cash-back rewards, which can be redeemed for statement credits, deposited into a bank account, or used to offset future expenses.
  • Rewards Points: Many credit cards have rewards programs where students earn points for their purchases. These points can be redeemed for a variety of rewards, including gift cards, merchandise, travel vouchers, or even statement credits.

B. Partner discounts for academic resources

Credit card issuers often partner with various retailers or service providers to offer exclusive discounts or special offers. PhD students can take advantage of these partnerships to save money on academic resources. Examples include:

  • Bookstores and Online Retailers: Credit card partnerships with bookstores or online retailers can provide discounts on textbooks, academic literature, or other research materials. Students can enjoy savings on these essential resources, reducing their overall academic expenses.
  • Software and Subscription Services: Some credit cards offer discounts on software or subscription services that are commonly used by PhD students, such as research tools, data analysis software, or academic journal subscriptions. These discounts can help students access necessary resources at a more affordable price.

C. Incentives for credit building and monitoring services

Credit card issuers may provide additional incentives for credit building and monitoring services, which can be beneficial for PhD students looking to establish and maintain a healthy credit profile. Examples include:

  • Credit Score Tracking: Certain credit cards offer access to credit score monitoring services, allowing students to keep track of their credit health and identify areas for improvement. This service can be valuable in understanding creditworthiness and making informed financial decisions.
  • Credit Education: Some credit cards provide resources and educational materials to help students learn about credit management and responsible financial habits. These resources can assist students in developing good credit habits and making informed financial decisions.

By taking advantage of cashback and rewards programs, partner discounts for academic resources, and incentives for credit building and monitoring services, PhD students can further optimize their credit card usage and gain additional financial benefits.

Globally Accepted Credit Cards

Here are some popular and globally accepted credit cards:

  1. Visa: Visa is one of the most widely accepted credit card networks globally. It has a strong presence and acceptance in numerous countries, making it a popular choice for international travellers and students.
  2. Mastercard: Mastercard is another widely accepted credit card network that is recognized globally. It offers a range of credit card options with various benefits and features.
  3. American Express (Amex): American Express is known for its premium credit card offerings and excellent customer service. While its acceptance may be slightly more limited compared to Visa and Mastercard, it is widely accepted at many major retailers and establishments worldwide.
  4. Discover: Discover is a popular credit card network in the United States. While its international acceptance may be more limited, it is still accepted at many locations worldwide, especially through partnerships with other credit card networks.
  5. Diners Club International: Diners Club International is a global credit card network that offers acceptance in various countries. It is particularly known for its travel-related benefits and services.

It’s important to note that acceptance of credit cards can vary by country, establishment, and specific card issuer. It’s always advisable to carry multiple credit cards from different networks to ensure broader acceptance and backup options in case of any issues.

When choosing a credit card, consider factors such as fees, rewards programs, travel benefits, customer service, and the specific features that align with your needs and spending habits. Additionally, check with the card issuer regarding any foreign transaction fees or international acceptance to make an informed decision.


Based on the benefits discussed, I encourage PhD students to consider obtaining a credit card. Credit cards can enhance your financial flexibility, simplify transactions, provide travel and conference advantages, and help you establish a positive credit history. These benefits can contribute to your academic journey, research endeavours, and future financial prospects.

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Dr. Vijay Rajpurohit
Author: Dr. Vijay Rajpurohit
Dr. Vijay Rajpurohit is a researcher in Computer Science. He loves to educate researchers and research scholars on Research Paper Writing, Thesis Writing, Research Grants, Patenting Research Work and the latest Research-related issues. You can reach him @ [email protected]