Discover Student Credit Cards & Cashback Review
Thanks in no small part to its bonus cash back categories, the Discover it® Student Cash Back, one of the two discover credit cards meant for college-age users outperforms many adult credit cards.
Thereby making it very profitable, especially in combination with the sign-up incentives.
This article addresses all you need to know about the Discover it Student Cash Back.
Building a strong credit score is a great plus to students, although college offers students a plethora of opportunities to learn, a good credit score has more far-reaching effects.
The Discover it® Student Cash Back and the Discover it Student Chrome are two credit cards on offer from Discover to college students. One of the benefits of a student credit card is that it can assist the future generation in imbibing good money management skills.
The two Discovery student cards on offer by Discover are meant to help young adults in building good credit histories and develop money management skills while still in college, yet, they have different benefits on offers to students.
Cardholders can sign up to receive limitless 1% cash back on all eligible purchases in addition to 5% cash back in different areas that rotate every quarter up to $1500 with the Discover it Student Cash Back.
While, with Discover it Student Chrome, Cardholders are automatically offered 1% cash back on all other expenditures and 2% cash back at Filling stations and restaurants of up to $1000 in combined transactions per quarter.
Discover will immediately match all cash-back rewards new cardholders accrue during the first year with any of the two credit cards you select, with no limit on how much cashback can be earned
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Discover Student Credit Cards Benefits
5% Cash Back or More
Discover it® Student Cash Back cardholders, can earn 5% cash back on every purchase made at a plethora of businesses like Amazon, supermarkets, gas stations, and grocery stores. Plus, earn unlimited 1% cash back on all other purchases – automatically.
Sign-up bonus with Unlimited Cashback Matches
With this well-known benefit, Discover will automatically match all of your cash back at the end of your first year. Only new cardholders and available for the first year, this sign-up incentive can be very profitable due to There being no minimum spending or maximum rewards. Just a dollar-for-dollar match.
There are no Yearly Charges
Discover does not impose an annual fee on the Discover student credit cards
0% Intro APR for Purchases
The Discover it® Student Cash Back card offers a 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 17.24% – 26.24% applies, depending on creditworthiness.
The 0% APR offer really makes the Student Cash Back card stand out from other student credit cards.
FICO® Score without Cost
The Discover mobile app and a customer’s account management page both offer a free FICO® Score, which makes the process of knowing one’s credit score.
Identity Warnings
Your Experian credit report is regularly monitored by the issuer’s online service, which notifies you whenever a new account is added. It also scans websites that handle personal data, alerting you the same way if any of your information appears.
No International Transaction Fee
With the Discover it® Student Cash Back, you don’t need to worry about paying a foreign transaction fee when traveling abroad.
Eligibilities for Discover it® Student Cash Back
- You must be at least 18 years old before you can apply
- You must be enrolled in a two-or-four year college
- You must be a United States citizen
- You must be in possession of a Social security number to be eligible
- You need to have independent, veritable income, such as part-time work, and you might need to provide verification of your income
Check the Discover Student Credit Card page for further requirements and application procedure.
Discover it® student cash back Rewards
Cardholders can earn up to $1,500 in cash per quarter when they activate the Discover it Student Cash Back card, with about 5% cash back available in a number of areas that rotate every quarter
Upon activation, you are eligible for 5% cash back on various categories up to $1,500 in quarterly purchases for each of the following quarters ( January, through March, April through June, July through September, and October through December).
The program refreshes at the end of each quarter, giving you another opportunity to earn 5% on up to $1,500 of purchases made in the fresh categories. In order to get the cash-back incentives, you must enlist at the start of each activation period.
You can automatically earn an infinite amount of 1% cash back on other purchases, apart from the categories that change and offer 5% cash back.
With strategic planning, and a bit more effort you can earn 5% back instead of 1% or 2% with the Discover it® Student chrome.
Additionally, Discover offers a special welcome bonus: For the first year only, new cardholders will have all cash back they have accrued at the end of the first year instantly matched dollar for dollar by Discover.
When you’re prepared to cash out your incentives, there are several options available:
- Gift cards, ranging from $5 to $200 and in increments of $5
- Charitable donations to select organizations
- Pay with points at Amazon.com checkouts
- Statement credits
- Electronic deposits to your bank account
If you don’t use your credit card for 18 months, Discover will automatically credit your cashback to your account balance.
Cash-back rewards on your student credit card can be enjoyable and practical, but it’s important to make timely, full payments on your amount each month. The huge interest fees you’ll incur if you don’t pay down your balance always outweigh the value of whatever points you earn.
Your main priority after receiving a student credit card should always be developing savvy financial practices. Building a strong score comes before earning points, benefits, and rewards.
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Frequently Asked Questions
What is a student credit card?
Student credit cards are cards meant for younger consumers who might not have much of an established credit history. With lower limits and more lenient credit requirements, student credit cards may be easier to get than their standard counterparts.
Is obtaining a Discover student card challenging?
The Discover it Student Card’s eligibility conditions are rather lax, like those of the majority of student credit cards. They accept students with poor credit, or at the very least, no credit.
For a Discover student card, what credit score is required?
The Discover it® Student chrome and the Discover it® Student Cash Back cards are the two Discover it Student credit cards available. Both cards don’t require you to have a certain credit score to get approved. If you’re a college student without a credit history of your own, this card is an excellent choice.
Is the Discover it® Student Cash Back right for you?
The ideal starter credit card should help you build credit at a minimal cost. The Discover it® Student Cash Back does that and more with its annual fee of $0 and rich rewards. For students who can benefit from its rotating bonus categories, it’s a good fit.
Can I use the Discover Student Credit Card Internationally?
When looking for a credit card as a student who intends to study abroad, it’s vital to keep in mind that while the Discover it® Student Cash Back card has no foreign transaction fees, Discover may not be as well-known abroad as other major card issuers.
Conclusion
With the Discover it® Student Cash Back card, Cardholders, most especially college students can imbibe good financial practices which will better prepare them for future credit cards with better rewards.
With 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum once activated. This card offers a ton of value despite being targeted at young folks with little credit history. Not to mention, Discover automatically doubles all cash back earned throughout the first year of cardholders’ use.
