Best Visa Credit Cards

There is one Visa exchange rate for every type of currency, which can change once every 24 hours. And that rate is automatically applied to any international transaction made with a Visa credit card or debit card. You can easily check the latest Visa exchange rates online to get an idea of what to expect when traveling.

Here’s how to see your Visa exchange rate:

1. Go to Visa’s online Exchange Rate Calculator.
2. Select United States Dollar for your card’s currency.
3. Select the currency used by the merchant.
4. Enter your bank fee (foreign transaction fee), if applicable. Ideally, you should use a no foreign transaction fee credit card.
5. Put in today’s date (the tool can’t predict the future).
6. Click “Calculate Exchange Rates.”

Using a no foreign transaction fee Visa credit card when traveling abroad will save you up to 9% compared to converting hard currency, according to WalletHub’s Currency Exchange Study. But a Mastercard will do the trick, too. There’s actually not much difference between the exchange rates offered by these two worldwide card networks.

Lastly, you should always avoid Dynamic Currency Conversion (DCC). This is when a foreign vendor converts the price of a purchase to U.S. dollars, supposedly for your convenience. But that gives the merchant a chance to use an unfavorable exchange rate in place of the low rate you’d automatically get from Visa.

The best Visa credit card for students is Journey Student Rewards from Capital One because it has great cash back rewards, gives you extra for paying on time and doesn’t charge an annual fee. But there a lot of good options to consider. For example, Bank of America Cash Rewards for Students is great for 0% interest at the start, and the Travel Rewards BofA Student Visa has terms well-suited to study abroad.

In general, despite having little credit experience, college students can expect better-than-average rates, fees and rewards because they have high earning potential and many years of financial needs ahead of them. Banks want to get in early, in other words. And you can take advantage of that by getting a great student credit card and saving lots of money.

Here are the best Visa credit cards for students:

• Most Cash Back – Journey Student Rewards from Capital One: The normal cash back rate is 1%, but you can get 1.25% if you pay your bill on time. There’s no annual fee and you don’t need a credit history in order to be approved.
• Intro APR – Bank of America Cash Rewards Credit card for Students: This card won’t charge you any interest for 12 months, both on purchases and on balance transfers. You get 3% cash back on your first $2,500 in gas, 2% at grocery stores and wholesale clubs, and 1% on everything else. There’s also a $150 bonus when you spend $500 in the first 90 days. And there’s no annual fee, nor do you need a credit history.
• Travel Benefits – Bank of America Travel Rewards credit card for Students: If you’re planning to travel often, this card is for you. You get unlimited 3 points per dollar on Amex Travel 1.5 points per dollar on all other purchases. And you get 20,000 bonus points when you spend $1,000 in purchases in the first 90 days. The card doesn’t have an annual fee and there’s no credit history necessary for approval.
• Insurance Benefits – State Farm Bank Student Visa Credit Card. You get 3 points per dollar on up to $4,000 in insurance premium payments per year, and one point per $2 on other purchases. You’ll also get student discounts on various products. There’s no annual fee, and you don’t need a credit history.

Any of these choices are good for students, but Journey Student Rewards and Bank of America Cash Rewards are probably the best two because they offer cash back rewards and don’t charge annual fees. You’ll be able to get the most consistent value out of them. But it’s good to look at cards from networks other than Visa, too. Some of the best choices include Discover it for Students and the Capital One Secured Mastercard.

Your Visa card number and security code are printed on the front and back of your card, respectively, and help verify the card’s authenticity. You need them, along with the card’s expiration date, to make purchases online or over the phone. Luckily, they’re easy to distinguish once you know what you’re looking for.

Here’s what you need to know about your Visa card information:

• Card number: Visa credit card numbers can be 13-to-19 digits long, and they’re printed right on the front of your card. You can’t miss it. Your card number is completely unique, so it’s the primary piece of information merchants use to identify your account.
• Security code: A Visa card’s security code is a 3-digit number printed on the back, to the right of the signature box. This plays a big role in online and phone transactions, as you can’t just swipe your card. It helps confirm that a card is legitimate. If someone just has your card number but not the security code, they can’t use it.
• Expiration date: The month and last two numbers of the year in which your Visa credit card expires are printed on the front of your card. It might say “08/20,” for example. This is the last big piece of information you’ll need to make purchases online or by phone. It’s the date through which the card remains valid. In other words, your card will work through the last day of the month listed.

When you swipe your card in a store, you won’t have to worry about these things, as the computer system deals with them automatically. But it’s good to know where everything is when you need to make a purchase manually.

You can activate a Visa credit card by calling the number on the back of your card or through the issuer’s website. Different cards will have different options. When you receive your Visa card in the mail, it should come with a set of instructions for activating. It’s hard to give specifics because the exact instructions for each issuer are different. But we can take you through the basics of each method.

Here’s how to activate Visa credit cards:

• By phone. Your credit card will often come with a sticker on it or an instruction sheet that lists the phone number of an activation line. This line may be automated or may have actual representatives you can talk to. You’ll typically need to enter your card number and a few pieces of personal information, such as your Social Security Number (SSN), date of birth and/or zip code. Once you complete the process your card will be ready to use.
  If you lose the activation instructions or are having technical difficulties, all is not lost. You can call the number on the back of your card to reach customer service. They’ll be happy to manually activate your card for you once you prove your identity.
• Online. Many issuers will provide you with the address of an activation website, where all you have to do is enter your card and personal information. You may also be able to activate your card by logging into your account from the issuer’s homepage and navigating from there.
  For example, here are the online activation pages for American Express and Bank of America credit cards.
• Through customer service. Besides calling your credit card company’s customer service department, you could also call the general Visa customer service number at 1-800-847-2911. They most likely won’t be able to activate your card for you, but they can tell you whom you need to contact in order to do so. But it’s generally most efficient to talk to your issuer. A lot of companies have 24/7 customer service lines, so you should be able to get in contact any time.

Activation is a pretty easy process, usually taking only a minute or two. And it’s important to do it as soon as possible. Some issuers may close your account if you don’t activate your card within a certain amount of time.

The best Visa credit card interest rate is 9.25%, which is possible with the Simmons Bank Visa Platinum Card. But you need excellent credit to get such a card. So there might be a difference between the best overall Visa interest rate and the best interest rate on a Visa credit card that you can actually get approved for. Plus, it’s worth noting that Visa credit cards’ interest rates aren’t actually set by Visa. The banks and credit unions that issue Visa credit cards control that. As a card network, Visa is more about where the card is accepted than anything else.

Of course, you can do a lot better than 9.25% for a limited time, considering the low introductory APRs that many cards offer. For example, the Bank of Hawaii Visa Signature Card gives you 0% for 18 months on purchases and balance transfers. And the Chase Freedom Unlimited Visa offers 0% for 15 months. But their regular rates aren’t as good: 14.98% - 17.98% for Bank of Hawaii and 15.99% - 24.74% for Freedom Unlimited.

By the way, there are two ways a regular, ongoing Visa credit card interest rate might be expressed. The first is as a single number, and the second is as a range. In the latter case, the issuer will assign a rate from that range based on your credit history. Let’s take a look at some examples.

Here are some examples of Visa credit card interest rates:

• Simmons Bank Visa Platinum: 9.25% (V). Requires excellent credit.
• Bank of Hawaii Visa Signature: 0% for 18 months. 14.98% - 17.98% (V). Requires excellent credit.
• Capital One Quicksilver Cash Rewards: 0% for 9 months. 13.99% - 23.99% (V). Requires good credit.
  
• Chase Sapphire Preferred: 16.99% - 23.99% (V). Requires excellent credit.
• Chase Freedom Unlimited: 0% for 15 months. 15.99% - 24.74% (V) interest rate. Requires excellent credit.
• Wells Fargo Cash Wise Visa: 0% for 12 months. 13.99% - 25.99% (V). Requires good credit.
• Costco Anywhere Visa: 0% for 7 months. 16.24% (V). Requires excellent credit.
• Credit One Bank Platinum Visa: 16.99% - 24.99% (V). Can get approved with bad credit.

So you’ll really need to check each individual card to know what your interest rate is going to be. Just a quick note: you’ll often see “(V)” after your card’s interest rate. That just means the rate is “variable,” or can change a bit over time. It’s not anything to be too concerned about though. It’s standard, and your rate shouldn’t change drastically.

Also keep in mind that you won’t have to worry about interest if you pay in full every month. It’s useful to note as well that there are other types of interest rates each card may or will have, such as an introductory rate on balance transfers, an interest rate for cash advances, and a penalty rate that kicks in when you don’t pay your minimum payments.