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Are you a current student? Do you have a sweet credit card to show off to your friends? If not, let me introduce you to the Discover it® Student Cash Back Credit Card.
Discover it® Student Cash Back card is one of two credit cards Discover offers to students. This article will discuss the pros and cons, benefits and rewards, and the nitty-gritty details of the Discover it® Student Cash Back card.
Let’s dive in!
Discover it® Student Cash Back card is one of two cards that Discover has available for students. Students do not need to have established credit to be approved for the Discover it® Student Cash Back card, unlike most credit cards.
You will receive a credit limit of at least $500 which will be dependent on your credit score, much like your APR will be. While you are in school, students can earn a $20 statement credit each year, up to five years, that your GPA is 3.0 or higher.
Since Discover it® Student Cash Back card reports to all three credit bureaus, you will be able to build your credit profile right away. Once you graduate, you can continue using the Discover it® Student Cash Back card.
Discover encourages students to apply for the Discover it® Student Cash Back card via their website. Since you do not need to have established credit, your odds of approval are high, and you normally get confirmation within a matter of minutes.
If you are approved, you will receive your Discover it® Student Cash Back card in the mail within 10 business days.
Once you receive it, activate the card by following the directions included in the mailing. When you get confirmation that your card is active, you can start using your new Discover it® Student Cash Back card anywhere Discover is accepted!
Discover it® Student Cash Back card offers many rewards for using the card as well as just for being a cardholder. You will soon find out why millions of Americans choose this credit card. It is easy to use and packs a serious punch.
Earning rewards with the Discover it® Student Cash Back card is as easy as using your card! You will earn 5% on certain categories each month, up to $1,500.
You will need to activate this offer each quarter. Outside of the special category, you will earn an unlimited 1% on all other transactions.
Keeping your GPA at 3.0 or higher will also earn you a $20 statement credit each year. If you would like to refer a friend, you could earn $50-$100. As a bonus, Discover will match your earned rewards the first year!
Redeeming your rewards for the Discover it® Student Cash Back card is as easy as earning them. You can redeem your rewards in any increments for either cash, statement credit, a donation to your favorite charity, or a gift card to one of their partners.
Outside of flexible rewards, the Discover it® Student Cash Back card also has many features and benefits to students, as outlined below.
The Discover it® Student Cash Back card has a $0 annual fee!
With Discover it® Student Cash Back card reporting to all three credit bureaus, you will be establishing and building your credit while earning rewards.
Due to Discover it® Student Cash Back card being accessible to any student with an SSN, regardless of having credit established or not, this is a great card to get started with to build your credit.
As with all credit cards, you will want to make sure you do not miss any payments and paying off the balance in full each month.
Although you have to initiate the quarterly offers, the Discover it® Student Cash Back card allows you to earn 5% on purchases such as Amazon, grocery stores, restaurants, gas stations, and more.
Any purchases outside of these special quarterly categories will earn at 1% of the purchase price.
Now that you know a little more about the Discover it® Student Cash Back card, here are some alternative options.
Discover it® Student Chrome card is the other student card offered by Discover. With the Discover it® Student Chrome card, you will earn 2% on purchases at gas stations and restaurants and then 1% on all other purchases.
You will share the same benefits as the Discover it® Student Cash Back card, such as earning a $20 statement credit each year – up to five years, when your GPA is 3.0 or higher, Discover matching your rewards the first year, easy redemption of your rewards, and referral bonuses.
Petal® 2 “Cash Back, No Fees” Visa® Credit Card, issued by WebBank, takes the no fees to the extreme! You will not incur fees for late payments, annual fees, or international fees.
Higher credit limits are known to be given as well, up to $10,000. However, you will only earn 1-1.5% cash back, and there are no matching rewards or special offers.
Chase Freedom® Student Credit Card is similar in that there is a $0 annual fee, and most students are accepted.
With the Chase Freedom® Student Credit Card, you will earn 2,000 points ($20) after each anniversary for your first five years.
You will also earn a $50 bonus when you make your first purchase within 90 days of receiving your card and 1% cash back on every purchase you make (where Visa is accepted).
To help students build their credit, Chase Freedom® Student Credit Card will raise your credit limit automatically when you make 5 payments on time.
Here are some frequently asked questions about the Discover it® Student Cash Back card.
If you are a student with little to no credit establishment, then Discover it® Student Cash Back is a great card for you to start establishing credit while earning rewards.
Discover it® Student Cash Back card reports to all three credit bureaus, which help you build your credit, as long as you make payments on time.
You must be a student to qualify for the Discover it® Student Cash Back card. However, you can continue using the card after you graduate.
When you graduate, Discover encourages you to call them to update your information and income, which can potentially increase your spending limit.
You can continue using your Discover it® Student Cash Back card without issues. Calling Discover and updating your information, such as income, could increase your spending limit, says Discover.
Yes, the Discover it® Student Cash Back card is for students with little to no credit history.
If you are a student with little to no credit establishment, then the Discover it® Student Cash Back card is a great card for you.
You will receive nice rewards, with flexible redemption options, while building your credit as Discover it® Student Cash Back card reports to all three credit bureaus on your behalf.
Brian is a serial entrepreneur that loves financial technology and personal finance. From working with start-ups to creating his own recruiting company, Brian knows first hand what it takes to manage money. Throughout his career, Brian has become a respected writer covering topics in personal finance, business, and financial technology.
